Swire gives startups a shot in the arm
Updated: 2015-01-16 05:31
By Sophie He in Hong Kong(HK Edition)
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Swire Properties - the real estate unit of business conglomerate Swire Pacific - has made available 10,000 square feet of office space in upmarket Taikoo Place to support the resurgence of Hong Kong's entrepreneurial spirit.
So far, 11 startups in the city have moved into the premises free of rent for six months.
"To provide the ideal groundwork for innovation and new ideas, we are not just offering free work space, but a full network of resources, experience and knowledge to help startups grow," Guy Bradley, chief executive of Swire Properties, told a press conference after the launching ceremony on Thursday.
Besides the rental incentive, Bradley said these startup tenants would also get help from a mentor network of more than 70 top executives and entrepreneurs, including two members of Swire Properties' management team and executives from various global enterprises, such as Uber, Tesla Motors, Rackspace and Lenovo.
It is hoped that these startup tenants can form an "organic relationship" with those multinational enterprises to get some "invaluable" technical and business advice, Bradley said.
In addition, a partnership has been struck with Seedcamp, a European angel fund that maintains a mentoring program.
Seedcamp's partner Carlos Espinal will come to Hong Kong to see Asia's burgeoning startup ecosystem first-hand, with a view to find investment opportunities in Hong Kong startups, Bradley said.
Charlie Melvoin, project leader at Swire Properties, said the 11 startups were selected from 150 applicants, all of which are technology related.
The scale of the startups is very small, each with no more than eight people. One of enterprises, Optical Technology, has developed a software to help color-blind people by distinguishing colors on panel displays.
Another startup, Blue Sky Energy Technology, engages people to track their energy usage, providing them with the information they need to use energy more efficiently.
Bradley said Swire Properties may provide more office space for startups in various office buildings it owns across Hong Kong in future, and it will even consider launching similar projects on the Chinese mainland.
sophiehe@chinadailyhk.com
(HK Edition 01/16/2015 page8)