Daisy Ip of Invest HK discusses how Hong Kong is benefiting from recognition in the UK of its value as a business-friendly, low tax strategic hub serving the whole of Asia, in particular, Mainland China.
Popularity of Hong Kong As An Asia Tech Hub Among UK Fintech Startups
Fierce competition exists among countries and jurisdictions to attract tech startups. Yet for those looking to enter the Asian market, Hong Kong is a natural entry point, one that’s drawing increasing numbers from outside the city and serving as a popular launchpad for UK founders.
Hong Kong’s business-friendly taxation, common law based on the UK system and very strong financial services infrastructure make it a very strong proposition for fintech startups moving to Asia, says Daisy Ip, Head of Investment Promotion at Invest Hong Kong (InvestHK). Based in London, Ip has spent the past fifteen years promoting Hong Kong as a destination for British startups.
Despite the uncertainty of recent years, she is bullish about Hong Kong’s ability to attract entrepreneurs, startup founders and other top talent. “There is growing interest from UK startups in sectors like AI, fintech, and digital marketing that are looking to scale into Asia through Hong Kong,” she said, adding that non-local founders “ have consistently accounted for around 30% of all startup founders in Hong Kong – with the UK always ranking second [after Mainland China].”
The number of non-local startups has risen 40 precent over since 2020 to almost 4,700 in 2024, with strong growth in fintech, ICT and e-commerce, along with healthtech and greentech, said Ip. UK startups account for more 10 percent of startups with non-local founders in Hong Kong.
Hong Kong: A Natural Fit
In many ways, it’s a natural fit. Ip emphasized the “deep historic ties, as well as the longstanding personal and business ties” between Hong Kong and the UK, arguing that this makes the city an ideal place for British tech investment. “The common law system and similar business practices make Hong Kong familiar – it’s a very low-friction entry point for British entrepreneurs.”
Hong Kong is of course a longstanding entrepôt, and a traditional gateway to Mainland China. InvestHK’s Ip said these attributes make the city an ideal place for technology businesses.
“Hong Kong is a truly international city: it’s home to a large UK expatriate and business community, as well as a large talent pool fluent in English, Cantonese, and Mandarin,” she said. “The city is strategically located, with access to the Greater Bay Area – a regional powerhouse of 87 million consumers.”
The city is Asia’s leading financial hub, supported by a world-class professional services sector. These are critical factors that make it such a powerful tech hub, especially for fintech, according to Ip. Hong Kong has “excellent access to international and Mainland Chinese capital – this has made it a very attractive destination for UK startups looking to raise funds and scale.”
The Hong Kong government is encouraging founders to set up shop there, rolling out a slate of incentives. “Over HK$200 billion (about £20 billion) has been set aside by the government for innovation and development. As well, there are schemes like the Top Talent Pass Scheme (TTPS) to help global talent to come to Hong Kong,” she said. She added that for companies to qualify for government funding, they would need to be operating commercially in Hong Kong for 3-4 years.
Supporting UK Start-ups Entering Hong Kong
InvestHK, which maintains offices around the world, also works to facilitate this. “We provide guidance on opportunities and practical help. We make strategic introductions to help connect founders with the right people – from legal and banking to recruitment – to help firms hit the ground running,” Ip added. “We provide on-the-ground support in Hong Kong as well: helping with visas, incorporation and accessing government programmes.”
Besides attending events, such as the London Tech Week where Daisy Ip was speaking, InvestHK also organises such events. including the upcoming Hong Kong FinTech Week and StartmeupHK Festival on 3-7 November 2025, where UK businesses are welcomed.
For any UK tech firm looking to relocate or expand into Hong Kong, Ip emphasized the need “start early,” because “building business relationships in Asia takes time” while getting to know the local market is also very important.
“I’d also say that they should be clear about their value proposition in the local context – what works in western markets may not work among Asian consumers. Founders should familiarise themselves with the regulatory environment, especially when it comes to sectors like fintech and biotech,” she added.
She says that that those in tech should be aware that Hong Kong is not just a financial centre. “Hong Kong is not just a destination, but also a space for marketing, testing, scaling and accessing the Greater Bay Area and its consumers.”
Ip noted that global events are making Hong Kong more attractive than ever as a place for business – especially the tech sector. “Global uncertainty has meant that investors increasingly seek to diversify beyond traditional markets, such as North America, and are now turning to emerging markets in Asia, the Middle East, and Africa,” she said. “In this context, Hong Kong has regained attention as a strategic location for global investors looking for opportunities in Mainland China and the Global South. In terms of sectors, biotech, greentech and AI are seeing renewed funding interest in Hong Kong.”
Summing up the case for Hong Kong, she said it is “backed by China and connected to the world.”
