HK startups tap Middle East's shift from oil to tech
發佈日期: 2025-05-13 20:11
TVB News
The Middle East has stepped up efforts in developing innovation and technology. With that, some Hong Kong companies that have successfully entered the region say investors there are open to funding new and emerging industries.
Alvin Kwock runs a risk management firm offering products related to a range of issues from blockchain to pet insurance.
Two years ago, Kwock spotted early potential in the Middle East and is among the trailblazers from Hong Kong to launch blockchain-based protection tools in the UAE and Saudi Arabia.
He also developed the region's first blockchain system in a local language. In just 18 months, his company has secured a 40 percent market share.
Kwock said the Middle East is pivoting from an oil-based to a non-oil economy and that brings massive opportunities.
He said the region wants to formalise blockchain with solid regulations and governance -- unlike the West where people often invest just because they expect prices to rise.
Another success story is a company founded by Vriko Yu. Her team uses 3D-printing tech to produce terracotta tiles designed to restore coral reef -- an innovation that caught the eye of Abu Dhabi's sovereign wealth fund.The coral restoration project is now underway in the Arabian Gulf.
Yu said her green tech startup occupies a niche field and they are lucky to find visionary partners here willing to integrate sustainability into their future economic growth.
Cyberport, which has led delegations to the region since 2022, has been matching Middle Eastern investors with Hong Kong's fintech and environmental tech firms.
