Original Author: Meta Era

Twitter: https://twitter.com/MetaEraCN

At present, the cryptocurrency market in Hong Kong is booming, with frequent government support and favorable policies, making investors and builders full of confidence in Web 3.0 and blockchain technology. In this thriving market, Cyberport in Cyberport is becoming the digital technology flagship of the emerging Web 3.0 market in the Hong Kong region.

Cyberport, wholly owned by the Hong Kong SAR Government, currently has more than 380 fintech companies, covering different fields such as blockchain, cybersecurity, artificial intelligence, big data, wealth management, and trading engineering. Thanks to the Hong Kong government's active embrace of virtual assets, more and more project parties hoping to make a mark in the Web 3.0 field are beginning to flock to the Pearl of the Orient.

So, how can Mainland Web 3.0 practitioners establish a foothold in the precious land of Hong Kong? In fact, Cyberport has abundant financial support, talent resources, and venues, which Web 3.0 project parties can fully utilize for entrepreneurial innovation. This guide will provide the most comprehensive assistance.

Basic Conditions for Mainland Web 3.0 Practitioners to Settle in Hong Kong Cyberport

First of all, it is important to note that currently only companies registered in Hong Kong can apply to settle in Hong Kong Cyberport. So how can Mainland Web 3.0 project parties register a company in Hong Kong? The process is actually not complicated:

The first thing you need to do is to determine the type of company. Currently, there are two types of companies in Hong Kong: a limited company with share capital and a company limited by guarantee. The former has share capital, and the legal liability of the company members is limited to the unpaid amount of the shares held by each member according to the rules of its articles of association, while the latter has no share capital, and the legal liability of the company members is limited to the amount promised to be paid as company assets in the winding-up of the company according to the rules of its articles of association; then, you need to have a company name, and the constraints on company names in Hong Kong can be found in the "Hong Kong Company Name Registration Guide".

Once these two simple things are settled, you can visit the "Companies Registry of Hong Kong" and submit the application truthfully as required (of course, you can also submit paper materials offline). If the application is approved, the Companies Registry of Hong Kong will send you an electronic "Certificate of Incorporation" and "Business Registration Certificate" (also available in paper form), and with these certificates in hand, the company is basically registered.

So, how can you turn your Web 3.0 idea into reality? The answer is actually quite simple: funding. For Web 3.0 projects that want to obtain funding support, rest assured, Cyberport in Hong Kong has sufficient funding support. Next, let us tell you how Mainland Web 3.0 practitioners can apply for funding from Hong Kong Cyberport, which is also the most important part of this article.

Start-up companies usually go through four stages: "start-up-incubation-acceleration-leap", and Cyberport provides funding support for Web 3.0 practitioners in all four stages, namely: the "Cyberport Creative Micro Fund" in the initial start-up stage, the "Cyberport Incubation Programme" in the incubation stage, the "Cyberport Accelerator Support Programme" in the acceleration stage, and the "Cyberport Investment Entrepreneurship Fund" in the leap stage.

1. Applying for Initial Start-up Funding (HK$100,000) from Hong Kong Cyberport

To bring a Web 3.0 idea from 0 to 1, the most important thing is to have start-up funding. Cyberport provides the "Cyberport Creative Micro Fund" (CCMF), which aims to support the development of innovative and creative digital technology ideas and early-stage start-ups.

Applicants can apply for the Creative Micro Fund in their personal capacity or in the name of a company. If applying in a personal capacity, the main applicant must hold a Hong Kong identity card; if applying in the name of a company, the company must be established and registered in Hong Kong.

The Creative Micro Fund currently includes 4 sub-programs, namely:

• Professional Programme
• Hong Kong Youth Entrepreneurship Programme
• Cyberport Greater Bay Area Youth Entrepreneurship Programme
• Cyberport University Partner Programme

To cater to the needs of different entrepreneurial target groups, each sub-program is fully supported by the Creative Micro Fund. It is worth mentioning that participating in the Creative Micro Fund project not only allows for cash assistance, but also access to other support from Hong Kong Cyberport in various aspects of entrepreneurship, such as training, mentorship programs, business consulting, business development and networking, local and global business network support, publicity and promotion support, industry recognition and certification, and support for program graduates, among others. More importantly, if a Web 3.0 project successfully applies for the Creative Micro Fund, it will also receive priority consideration for the "Cyberport Incubation Programme".

It is no exaggeration to say that successfully applying for the Creative Micro Fund is the "key" to entering Hong Kong Cyberport, so understanding the evaluation criteria and procedures of the Creative Micro Fund is quite important for the success rate of Web 3.0 project applications. In terms of evaluation criteria, the application will be evaluated by an independent evaluation committee, whose members include venture capitalists, scholars, industry experts, and members of industry associations, and will be assessed based on the following four criteria:

• Quality and capability of the project management team (30%)
• Operational model and time to market (30%)
• Project creativity and innovation (30%)
• Social responsibility (10%)

In terms of the evaluation process, all recipients of the Creative Micro Fund will be selected by an independent evaluation committee composed of members of the Enterprise Development Advisory Group (ECAG) and will go through three stages: preliminary screening, evaluation, and brief presentation, and the independent evaluation panel will select the final projects to be funded by the Creative Micro Fund.

2. Applying for Incubation Programme Funding (HK$500,000) from Hong Kong Cyberport

If your Web 3.0 project has successfully passed the "start-up" stage but you wish to obtain incubation support from Hong Kong Cyberport, then you can apply for the "Cyberport Incubation Programme", which aims to provide comprehensive support for entrepreneurship and help entrepreneurs and start-ups grow rapidly. Similarly, after joining the incubation programme, Hong Kong Cyberport will also provide a one-stop entrepreneurial support platform to help Web 3.0 entrepreneurs develop.

So, how can Web 3.0 projects apply for the Cyberport Incubation Programme?

First, the eligibility requirements include having a feasible business plan for products or services ready for market within 12 to 18 months, being a limited company registered under the Companies Ordinance of the Hong Kong Special Administrative Region (or in the process of being established), and the main applicant working for the applicant company cannot be a founder, co-founder, or director of any company of the same nature currently participating in any incubation programme operated by Hong Kong CMCL, Hong Kong Science Park Corporation, or Hong Kong Design Centre, or previously served in any incubation programme of the same nature operated by a Hong Kong incubator. The founders of the applicant company must collectively hold at least 51% of the company's shares or absolute control throughout the application and the entire programme period.

Secondly, there are also requirements for the nature of the project, such as being rooted in the field of digital technology and not having received funding from other public funding programmes.

It is also important to note that Web 3.0 projects must submit applications online through the Cyberport Entrepreneurship Management System (EMS) and attach supporting documents (if necessary), and the information must be filled out by the main applicant (if a non-company applicant) or the director or shareholder of the applicant company (if a company applicant), otherwise it will not be processed.

The weightings of the review criteria for the "Cyberport Incubation Programme" are as follows:

• Significant market vitality and contribution to the Cyberport strategic cluster (30%)
• Quality and capability of the management team (20%)
• Business scalability (20%)
• Functional prototype or product designed to solve real problems (20%)
• Innovation (10%)

3. Applying for Acceleration Funding (HK$300,000) from Hong Kong Cyberport

After incubation and cultivation, Cyberport has also established a cooperative network with multiple accelerators and provides funding. Applicants for the "Cyberport Accelerator Support Programme" must be currently participating in or have graduated from the "Cyberport Incubation Programme" and have been successfully admitted to an accelerator programme recognized by Cyberport (as of June 16, 2023, Hong Kong Cyberport has recognized 89 global accelerator programmes, which can be checked on the official website).

The "Cyberport Accelerator Support Programme" also requires online submission of the application, and the form information must be filled out in English or Chinese and clearly indicate the applicant's name. The online application must be filled out by the applicant (if an individual) or the director or shareholder of the applicant company (if a company), otherwise it will not be processed. It is important to note that, unlike other programmes, the application and supporting documents for the "Cyberport Accelerator Support Programme" must be submitted within 5 working days before the start date of the accelerator programme.

4. Applying for Series A or later-stage funding (total investment fund of HK$400 million) from Hong Kong Cyberport

Once the acceleration phase is successfully completed, and the Web 3.0 project begins to move towards formalization, there is a desire to achieve rapid breakthroughs. At this point, you can try to apply for support from the Cyberport Investment Entrepreneurship Fund (CMF) to obtain support. The total investment amount of the Cyberport Investment Entrepreneurship Fund is HK$400 million, with individual investment sizes typically ranging from HK$1 million to HK$20 million, mainly used for:

• Providing seed project investment to A-round or later-stage financing for Cyberport digital technology entrepreneurs, to help companies achieve rapid business growth.
• Promoting the development of the Hong Kong entrepreneurial investment ecosystem and further expanding the entrepreneurial space for digital technology entrepreneurs.

The eligibility for applying for the Cyberport Investment Entrepreneurship Fund is as follows:

• Cyberport incubated companies and graduates
• Cyberport Smart-Space companies
• Cyberport office tenants

The weighting of the review criteria for applying for the Cyberport Investment Entrepreneurship Fund is as follows:

• Comprehensive business assessment, including but not limited to compliance, governance, financial condition, and business feasibility
• Potential investment return
• Active participation in Cyberport digital community activities

How to Use Cyberport Policies to Successfully Enter Hong Kong

Once your Web 3.0 project has funding, the next step is to recruit talent. How can you attract excellent Web 3.0 talent to Hong Kong? In fact, Hong Kong Cyberport has provided the "Technology Talent Admission Scheme", which aims to facilitate the entry of qualified overseas and Mainland technology talent into Hong Kong for research and development work for eligible technology companies/institutions through fast-track arrangements. Tenants and incubated companies of the Hong Kong Science and Technology Parks Corporation (HKSTP) and Cyberport Management Company Limited (Cyberport) are eligible as long as they are engaged in activities such as artificial intelligence, data analytics, and financial technology.

For specific details, please refer to the official website of the Innovation and Technology Commission of the Hong Kong Special Administrative Region.

How to Use Cyberport Policies to Obtain Office Space

In fact, Cyberport is a pioneer of the shared office concept in Hong Kong. Its Smart-Space was launched as early as 2009, and recently, Smart-Space 8 has been launched. Web 3.0 project parties can apply for office space, workstations, and flexible space in three types of venues (different types have different fees) online.

In terms of usage time, Smart-Space offers flexible (minimum of 1 month) and fixed (maximum of 12 months) service periods. It is important to note that the applicant must provide key information such as the business registration number, company registration certificate, and company website.

Conclusion

With the booming development of the cryptocurrency market in Hong Kong and the policy support for Web 3.0 and blockchain technology, more and more Mainland Web 3.0 practitioners hope to find development opportunities in Hong Kong Cyberport. The basic condition for settling in Cyberport is to register a company in Hong Kong, and the registration process is not complicated. Cyberport has abundant entrepreneurial resources and provides funding support for Web 3.0 projects. From the initial start-up stage to the breakthrough stage, Cyberport provides funding support plans for different stages, providing a good entrepreneurial environment and opportunities for Web 3.0 practitioners.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。