HKSTP unlocks two-way growth for Hong Kong and Middle Eastern tech ventures

By Yuan Shanglue

Fueling the momentum of tightening commercial bonds between Hong Kong and the Middle East, the city’s technology enterprises seized the chance to tap into a global customer base at LEAP East 2026, a global tech event.

Driven by a keen foresight into the growing synergies between the Middle East and Hong Kong’s technology sectors, the Hong Kong Science and Technology Parks Corporation (HKSTP) — the largest innovation and technology (I&T) ecosystem in Hong Kong — took a proactive role in LEAP East 2026’s Hong Kong debut, joining as the exclusive Tech Ecosystem Partner to unlock new corridors of opportunity for local startups.

HKSTP was joined by over 30 park companies, including 23 companies exhibiting at the HKSTP Pavilion and more than 10 companies participating independently. During the three-day event, the HKSTP Pavilion attracted more than 3,000 visits and facilitated over 1,500 business matching sessions. Notably, Meinong Robot from the HKSTP ecosystem won the 2nd runner-up in the Rocket Fuel East Startup Competition, outperforming 500 startups from all over the world and securing a $10,000 equity-free prize.

The companies’ achievements stand as a testament to HKSTP’s role as an ecosystem orchestrator, highlighting its strategic commitment to propel ambitious, high-potential tech ventures onto the world stage.

“Hong Kong being chosen as the first stop for LEAP East’s expansion outside Saudi Arabia fully demonstrates the city’s status as a major global hub for innovation and technology. It perfectly reflects Hong Kong’s role as a superconnector and super value-adder,” said Terry Wong, CEO of HKSTP.

Wong delivered a keynote speech themed “Unlocking Asia & Global Growth — HKSTP as the Launchpad for Global Tech” on the first day of the event, detailing HKSTP’s efforts in accelerating the “go global” trend of Hong Kong technology companies while attracting international tech firms to Hong Kong.

Wong noted that LEAP East offers a prime platform for Hong Kong companies to explore the Middle Eastern market, particularly Saudi Arabia. He emphasized that both regions share a common vision for technological innovation, opening the door to immense business potential.

Saudi Arabia launched “Vision 2030” back in 2016 to diversify the nation’s economy and leverage new growth opportunities empowered by technological innovation. Its digital economy has grown by 75 percent to reach almost $139 billion, accounting for 16 percent of the country’s total GDP, according to Abdullah Alswaha, Saudi Arabia’s minister of communications and information technology.

Such rapid digital transformation opens a highly lucrative corridor for Hong Kong’s I&T sector. As the Middle East seeks cutting-edge solutions in areas like green technology, fintech, and artificial intelligence, HKSTP is ready to empower its park companies to export their technologies to fill the gap, transforming regional demand into a launchpad for global expansion.

“When Hong Kong companies try to crack the Middle East, they often struggle with local culture, complex regulations, localization, and finding partners. Without that local know-how, it’s a tough market to enter,” Wong added. “That’s where we bridge the gap. Over the years, we’ve built deep connections with governments, the market, and businesses, so we’re ready to help Hong Kong companies scale successfully in the region.”

Varadise Ltd, a Hong Kong-based smart monitoring and AI and digital twin platform provider, said that HKSTP has been lining it up with partners since they started exploring the Middle East market last year.

Innovation & Technology Special