Deloitte Tech Fast program recognizes the creativity and innovation of Hong Kong’s fast growing companies

On 15 December in Hong Kong, Deloitte hosted the awards ceremony at Runnovation of China Resources to announce the winners of its 2021 Hong Kong Technology Fast and Rising Star Program, at the same time releasing the results of a survey series.

This year, Deloitte is pleased to join forces with Strategic Partners Alibaba Hong Kong Entrepreneurs Fund (AEF), China Resources Capital Management Limited (CRCM) & Runnovation, Hong Kong Cyberport (Cyberport) and Hong Kong Science and Technology Parks Corporation (HKSTP); Official Knowledge Partner, The Business School of The Hong Kong University of Science and Technology (HKUST); and Diamond Sponsor, The Hongkong and Shanghai Banking Corporation (HSBC). Other supporting organizations include Beyond Ventures, City University of Hong Kong's HK Tech 300, Greater Bay Area Homeland Development Fund, HKUST's Entrepreneurship Center, the Hong Kong Venture Capital and Private Equity Association, Hong Kong X-Tech Startup Platform, InvestHK, SQ Capital and The Hong Kong Polytechnic University's Institute for Entrepreneurship.

Besides the ceremony, the event included keynote addresses from Dr. David Chung JP, the HKSAR's Under Secretary for Innovation and Technology, Cindy Chow, Executive Director of AEF, Carl Qin, CEO of CRCM and Thomas Elliott, HSBC's Managing Director, Head of Client Coverage, Commercial Banking, Hong Kong, as well as the sharing of research report findings by Professor Yanfeng Zheng of The Business School of HKUST.

For more than two decades, Deloitte has recognized the fastest-growing public and private companies across the technology ecosystem through the Technology Fast 500™. The Hong Kong program provides annual rankings, celebrating innovative and recognizes the fastest-growing hi-tech companies in Hong Kong, with winners eligible to enter the Deloitte Technology Fast 50 China and Asia Pacific Technology Fast 500. 

Amber, Animoca and Vobile were named 2021 Deloitte Hong Kong Technology Fast Leader. The top three Technology Fast winners were AsiaTop, Chain Technology and Zeek, which AsiaTop and Chain Technology were also named 2021 Deloitte China Technology Fast 50. Twenty other high potential companies received the Rising Star awards, including Sirnaomics and SmartMore, which were also named 2021 Deloitte China Rising Star 50. This year, we also granted two companies, Laclary and FreightAmigo, awards for Tech Fast Female, recognizing their achievements and continuing Deloitte's dedication to supporting female leadership.

Philip Law, lead partner, the Deloitte Technology Fast Program and Venture Capital & Private Equity, Southern Region, Deloitte China, adds: "We are delighted that so many companies in Hong Kong’s tech industry continue to grow. The rise of businesses that have successfully harnessed technology is clear. The tech industry is built on resilience, grit, and determination, and the ability to quickly adapt, innovate, and problem solve to thrive in ever-changing circumstances is in the DNA of founders and startups. This year’s Tech Fast winners have shown incredible leadership, agility, foresight, passion, and perseverance, and beyond their growth there is much to be proud of in this community."

In conjunction with the event, Deloitte, in collaboration with AEF, knowledge partner The Business School of HKUST, has conducted a research on and interviewed Hong Kong's fastest growing tech companies, aiming to provide a systematic analysis of the current state and evolvement of Hong Kong’s I&T ecosystem. Based on the data collected throughout the process, the research report "Rekindling Hong Kong's economic growth through innovation" is published under the Tech Fast Program.

Building on this research, the survey was conducted in September and October 2021, featuring a survey of 153 Hong Kong-based entrepreneurs and executives for start-ups, 1,382 Hong Kong based university students as well as in-depth interviews with Key Opinion Leaders in innovation and entrepreneurship, including government leaders, academics, venture capital executives and entrepreneurs.

This study explores the state and evolution of Hong Kong's innovation ecosystem. In highlighting the ingredients that contribute to a burgeoning innovation culture, our survey revealed that, Hong Kong's startup ecosystem remains vibrant; the dynamic innovation capabilities and types of innovation activities; robust drivers of economic output in accelerating the I&T development.

Entrepreneurs and corporate executives, students highlight the irreplaceable value of start-ups in Hong Kong, agreeing that:

The study examines the key factors that the HK government, VCs and other stakeholders are supporting the entrepreneurship and making contribution to the whole ecosystem, calling attention to the extra need to support start-ups and talents as they expand beyond Hong Kong, as well as more cross-collaboration to boost the global innovation.

Click here for the full report and the list of awardees.