Cyberport Ren Jingxin: Under the epidemic, companies speed up technological transformation in the third quarter of the venture capital market sentiment picks up

Financial News

Written by: Kuang Yueting

2020-10-30 17:50

Last update date: 2020-10-30 17:50

The new crown pneumonia epidemic has severely hit Hong Kong's economy, coupled with the continued tension between China and the United States, the business environment of start-ups is worth worrying about.

Ren Jingxin, CEO of Cyberport, believes that the epidemic has made Hong Kong's economy more challenging, and the international situation has even affected the investment environment. However, the current crisis is actually coexisting because the epidemic has accelerated the pace of technological transformation of enterprises.

He estimated that global spending on digital transformation will rise to more than 1.3 trillion yuan (USD ‧ the same below) in 2020, among which industries such as artificial intelligence, cloud computing, education technology, health technology, and financial technology will benefit the most. In the third quarter of this year, the world The sentiment of the venture capital market has begun to pick up, with the investment amount reaching 73.2 billion yuan and the number of venture capital investments amounting to 4,861.

Regarding the rising friction between China and the United States, Ren Jingxin feels that at the start-up level, investors mainly focus on return on investment. In the future, global business activities are mainly driven by Asia and China. In addition, there are huge opportunities for the development of the Greater Bay Area. Hong Kong, as the economic center of the Greater Bay Area, attracts Many overseas talents stay in Hong Kong to work, and the legal system is well established, which can help Chinese companies "go global." Foreign companies will use Hong Kong as a springboard to enter the Chinese market. I believe this will benefit the development of the local start-up market.

Zhou Luomeiqi believes that start-up investors focus on the value brought by the company itself, and international geopolitical factors have little influence.

(Screenshot of video conference)

Zhou Luomeiqi, executive director of Alibaba Hong Kong Entrepreneurs Fund and chairman of Cyberport's Investor Network Planning Group, said that investors mainly focus on the services, product value and market potential provided by start-ups.

The pandemic has worsened the global economy. Start-ups have become more difficult to operate. In addition to focusing their resources on invested projects to help these companies tide over the difficulties, investors will continue to look for new projects. "As long as it is a good project, it must be Can attract investors."

In addition, Cyberport will host the "Cyberport Venture Capital Forum" in a virtual interactive form from November 3 to 4. The forum will gather more than 50 international venture capital experts to explore new venture capital opportunities through a series of keynote speeches and discussions. .

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