Deloitte Technology Fast 20 Program lands in Hong Kong
Identifying the fastest growing and star technology companies in Hong Kong
Published: 16 June 2017
Today, Deloitte announced its launch of the first Deloitte Technology Fast 20 Program (TF20) and Rising Star Program in Hong Kong, both of which aim to recognize fast-growing companies with viable business models and to encourage the development of the most innovative and promising industries in the region. At the kick-off ceremony, distinguished guests from both the public and private sectors shared their insights into the development of high technology industries in Hong Kong.
Deloitte is pleased to cooperate with Hong Kong Cyberport (Cyberport) and Hong Kong Science and Technology Parks Corporation (HKSTP), which serve as strategic partners for the program.
TF20 is a sub-program under the Deloitte Technology Fast 50 China Program (TF50), whose prominence has been widely recognised as the Oscar award equivalent for high technology companies. Highlighting the essence of the program, Deloitte TF20 Hong Kong Program Leader Philip Law said, "We are very excited to introduce this program to Hong Kong, which can serve as an objective platform for fast-growing and high technology companies to gain market visibility by sharing their success stories and showcasing their products and services. These companies can also take the opportunity to learn from each other on how to cope with the common industry challenges. More importantly, we can work together with our supporting partners and potential investors to build an ecosystem in Hong Kong."
Winners of Hong Kong TF20 will enter this year's National China TF50 Program and compete with their peers across China. Over the years, many companies of the TF50 Program have emerged to become global technology giants, with notable winners including Tencent, Baidu, and Alibaba. Previously, there were also a lot of high potential winners under the "Rising Star" category of the program, such as Benlai.com, NextEV and Douyu.com. Since its inauguration in Silicon Valley in 1995, the Deloitte Technology Fast 50 program has become the global benchmark for fast-growing technology companies after being replicated in many other countries.
"Cyberport is excited to be a strategic partner of Deloitte TF20 Hong Kong Program, which is a prestigious program in the global technology sector. We share a common vision with Deloitte in igniting innovation and fostering the growth of start-up ecosystem, as evidenced by our 900 technology companies within the Cyberport community. Recent years, we witness a more vibrant digital tech ecosystem across Hong Kong, we firmly believe that Deloitte's TF20 will enable more of them to grow and shine. We look forward to seeing more Cyberport digital tech start-ups being recognised and ranked as TF20 companies," said Herman Lam, CEO of Cyberport.
Albert Wong, CEO of Hong Kong Science and Technology Parks Corporation (HKSTP) said: "It is our mission to explore all possible channels to help tech companies and start-ups in Hong Kong Science Park achieve success, locally and globally. One of our key measures is to connect start-ups with strategic investors to form winning partnerships. The Deloitte Technology Fast Program, notable for having world-class companies as past winners, provides a highly prestigious platform for Hong Kong tech companies and start-ups to learn the strategies for success, and potentially get into the same hall of fame with former winners like Tencent, Baidu and Alibaba. HKSTP is very excited to be a strategic partner of the program and looks forward to hosting tailor-made workshops for program participants. "
To be eligible for participation in the Hong Kong TF20 Program, companies must have a minimum of three years of business operation, with their headquarters based in Hong Kong. Companies need to have achieved at least HK$ 1,000,000 in operating revenue during the 2014 fiscal year. The Program is open to hardware, software, communications, media, life sciences and clean technology companies. Companies with a shorter business history can join the Deloitte-Hong Kong Rising Star Program, which does not have specific entrance requirements. However, companies are required to provide a written description about their background, management team, core competitiveness, business models, products, technologies, industries and market recognition.
Our sponsors and supporting organisations include (in alphabetical order):
- Chinney Shun Cheong Holdings Limited
- Stevenson, Wong & Co.
- Hong Kong Cyberport Management Company Limited (Cyberport)
- Hong Kong Science and Technology Parks Corporation (HKSTP)
- Hong Kong Applied Science and Technology Research Institute (ASTRI)
- Alibaba Entrepreneurs Fund
- Beyond Ventures
- BraveSoldier Venture Capital
- CPA Australia
- Frotivoti Capital
- Heung Kong Financial Group
- Hong Kong Business Angel Network
- Hong Kong Exchanges and Clearing Limited
- Hong Kong Venture Capital & Private Equity Association
- InvestHK and StartmeupHK of HKSAR
- The Chamber of Hong Kong Listed Co.