Hong Kong Economic and Trade Office (Toronto)

The Director of the Hong Kong Economic and Trade Office (Toronto) (HKETO), Mr Bill Wong, attended the “PowerUp Pitch Competition,” hosted by the PULSE Committee of the Hong Kong-Canada Business Association (Toronto Chapter) on April 29. The competition provided a platform for Canadian startups in artificial intelligence (AI) and data science, smart city, and health-tech sectors to showcase innovative business ideas and explore expansion opportunities in Hong Kong and the wider Asia-Pacific region.

The event was a collaborative initiative of the HKETO, Invest Hong Kong in Canada and the Hong Kong Trade Development Council through the Economic and Trade Express platform.

In his opening remarks, Mr Wong highlighted Hong Kong’s rapid transformation into a leading smart city, driven by the widespread adoption of AI, robust digital infrastructure, open data initiatives, and technology-enhanced public services, noting that these efforts have earned the city strong international recognition.

He said that a thriving start-up ecosystem is key to smart city development. He noted that Hong Kong is home to more than 5,200 startups employing nearly 20,000 technology professionals, with strong growth in sectors such as health technology alongside its well-established fintech industry.

“To further encourage this development, we have enhanced the Innovation and Technology Venture Fund to leverage more market capital and provide government funding to promote investments in I&T start-ups of strategic industries, including AI and data science as well as life and health technology,” Mr Wong said.

He added that Hong Kong Science and Technology Parks and Cyberport, together with the Hong Kong-Shenzhen Innovation and Technology Park, provide comprehensive support to startups, including funding, mentorship, investor matching, and market expansion opportunities.

Encouraging participants to look beyond Canada, Mr Wong urged young entrepreneurs to take advantage of Hong Kong’s dynamic innovation ecosystem and consider the city as a strategic base for scaling their businesses into Asia.

The Pitch Competition featured 31 startups from Toronto on AI and Data Tech, Smart City, and Health Tech. The winning team received a prize package that included a round-trip ticket to Hong Kong sponsored by Cathay Pacific, as well as nomination to incubation programmes in Hong Kong.