Hong Kong says its Cyberport attracted 150 Web3 companies in the past year.
In the past year, more than 150 Web3 firms have set up operations in Hong Kong’s Cyberport — a digital hub set up by the country’s government to promote innovation — Financial Secretary Paul Chan Mo-po said in a statement.
The influx came after the Hong Kong government invested 50 million yuan to help Cyberport speed up the development of Web3 with blockchain as the supporting technology, Chan Mo-poChan Mo-po detailed the Hong Kong government’s investments in the sector and said that Cyberport had been allocated around 500 million Hong Kong dollars in funding for the “Digital Transformation Support Pilot Programme,” an initiative aimed at helping small and medium-sized businesses to implement digital solutions.
Cyberport, which is managed by a wholly-owned subsidiary of the government of Hong Kong Special Administrative Region, hosts a total of 1,900 enterprises, the statement said.
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