Entrepreneurs and business leaders have voiced the significance of collaboration in securing financing for their ventures, with recognition of the Belt and Road Initiative as a critical international platform to seek investment partners and identify lucrative business opportunities.
Panelists shared their opinions at a session themed “Startups and young business leaders’ insights” on Thursday during the eighth Belt and Road Summit organized by the Hong Kong Special Administrative Region government and the Hong Kong Trade Development Council.
Ceylan Uren, co-founder of The Waste Lab, shed light on the challenges of “finding impact investors who value sustainable solutions and social impact” to feed the firm’s growth, as “investors traditionally seek quick returns”.
The Dubai-based firm utilized digital tools to tackle food waste issues, thereby contributing to tackling the climate crisis.
Uren said she sought collaboration with investors from different countries, emphasizing that “the investment was not just in a startup or a specific country, but in an environment that affects everyone”.
She said she recognizes the opportunities for the United Arab Emirates, a business hub in the Middle East, and Hong Kong, a key fundraising center in the Guangdong-Hong Kong-Macao Greater Bay Area, to collaborate.
It is important to work together toward common goals and leverage these hubs to drive innovation and impact, Uren said.
Hayley Wong, sustainability strategist at climate-tech company Archireef, expressed her interest in aligning ocean restoration efforts with blue or green bonds, aiming to bridge the gap between private companies and their sustainability initiatives.
This collaborative approach seeks to harmonize financial objectives with environmental goals, she added.
Martin Zhu, co-founder of i2Cool, said that thanks to the BRI, the company saw opportunities beyond the Greater Bay Area, targeting emerging markets in the Middle East.
The startup, incubated at the City University of Hong Kong, offers an energy-free and environmentally friendly passive radiative cooling paint, contributing to the development of net-zero buildings.
“In the beginning, our research aimed to address energy consumption challenges in Hong Kong’s air conditioning systems. Hong Kong, known for its hot and humid climate, demands substantial energy for AC operations,” he said.
With the national strategy, “our technology can now extend to other hot countries such as the United Arab Emirates, Saudi Arabia and Qatar,” Zhu noted.
This year marks the 10th anniversary of the inception of the BRI. More than 150 countries and over 30 international organizations have since signed cooperation agreements with China.
Qiu Hesong, CEO of JiYing Technology Co, a medicine issue solutions provider, called for the fusion of technology and talent as catalysts for change by utilizing Hong Kong’s world-class infrastructure and the special administrative region government’s staunch policy support.
The Hong Kong Science and Technology Parks, HKTDC, and the diverse reservoir of resources associated with the BRI have provided an ideal platform for rapid growth for his businesses, he said.
Wang Zengyue, CEO of Luquos Energy, an eco-friendly battery technology developer, highlighted the potential of the Middle East, traditionally known for its enormous fossil fuel reserves, to become a significant renewable energy hub due to its abundant solar resources.
In terms of collaboration, Wang said Hong Kong’s ecosystem could help startups unite and exchange ideas to enhance their solutions.
