HKTDC: Business of IP Asia Forum and Entrepreneur Day Unlock IP and Innovation Potential

- The two events promote Hong Kong's position as a leading regional IP trading centre and an international innovation and technology hub

HONG KONG, Dec 8, 2024 - (ACN Newswire) - - BIP Asia Forum welcomed over 3,000 participants
- E-Day attracted around 11,800 visits, facilitated over 230 business matching meetings and created business opportunities for participants
- IP financing as a growth engine should not be overlooked according to an IP valuation expert at BIP Asia Forum. IP valuers are subjected to professional scrutiny and need to do an inordinate amount of background research in order to put the information into a sensible IP context
- Connecting start-ups from across the globe, E-Day reflects Hong Kong's growing role as a global innovation hub. Over the years, Hong Kong has introduced significant policies to support innovation and technology, especially with more proactive measures to drive university research translation and industry-academia collaboration

The two-day Business of IP Asia Forum (BIP Asia Forum), jointly organised by the Hong Kong Special Administrative Region Government (HKSAR Government) and Hong Kong Trade Development Council (HKTDC), and held concurrently with Entrepreneur Day (E-Day), hosted by the HKTDC, concluded successfully on Friday 6 December. The two events brought together more than 160 intellectual property (IP) experts and business leaders from around the world to explore the potential of IP, promote business innovation and growth, and drive high-quality economic development. Taking place on 5 and 6 December, BIP Asia Forum and E-Day reinforced Hong Kong's position as a leading regional IP trading centre and an international innovation and technology hub.

The two events featured a mix of forums, exhibitions, competitions, workshops, and business matching meetings. More than 400 exhibitors from various sectors, including IP and innovation and technology, participated in the two events to capture business opportunities and gain insights into the latest IP and innovation trends.

This year, BIP Asia Forum welcomed over 3,000 participants, while E-Day attracted around 11,800 visits and facilitated over 230 business matching meetings, creating business opportunities and fostering expansion for participants.

This year's BIP Asia Forum, themed 'Reimagining IP for Impact and Growth', featured a Policy Dialogue on the opening day, where international IP experts and representatives from multinational organisations shared insights on the flourishing and newest developments in the IP world.

Cultural and creative IP unleashes huge potential

The HKSAR's 2024 Policy Address emphasised strengthening Hong Kong's position as an IP trading centre, promoting cross-sectoral exchange, and encouraging more local and international cultural and creative products to be registered on the Asia IP Exchange Portal. The HKSAR Government also recently published the Blueprint for Arts and Culture and Creative Industries Development, highlighting the significant potential of cultural and creative IP.

The HKTDC continues to be active in promoting cultural and creative IP resources from Hong Kong and overseas to facilitate industry exchange and collaboration. In addition to the annual BIP Asia Forum, the HKTDC leverages physical trading platforms such as the Hong Kong International Licensing Show and the Hong Kong International Film & TV Market to actively promote the development and trading of cultural and creative products, inviting various IP experts to share practical case studies and opportunities.

Cultural and creative industries encompass various sectors, including film and television entertainment and music and arts. Jake Hwang, Chief Manager, Story IP Business at Kakao Entertainment Corp, renowned for his experience with popular web novels and comics IP projects such as What's Wrong with Secretary Kim, Business Proposal, and Run On, shared insights on IP related to popular Korean dramas, webcomics, and web novels at the forum. He said: 'In terms of creating original IPs and where we invest our money, we don't see things in short-term income. We are trying to see things on a more long-term basis, because we don't know which IPs will be successful. But we keep trying to produce new IPs every day. We also try to meet with global partners as much as possible. It could be physical productions, over-the-top platforms, or independent producers, just to open potential and discuss freely.'

In today's competitive business landscape, leveraging IP has become essential for driving innovation, building brand value, and creating new revenue streams. Many international brand leaders agree that IP plays a crucial role in developing strategies for sustainable growth and expanding into new areas. Dr Na Wei, Senior Director of IP Licensing at Xiaomi, believes in the importance of collaboration between different IP owners. 'One smartphone may contain more than 200,000 patents. It's not something that one company can do on its own, so that's why collaboration is very necessary. We need to work with many other patent owners on acquiring or securing their licenses, and we also license our own patents to them. It's in that way that these kind of high-density patent products can be made possible.

Among the various areas of IP, one area with growth potential is IP financing, where businesses can use their intangible assets as collateral to secure funding without diluting equity. This means that an IP portfolio facilitates access to capital but also enhances a company's valuation significantly. Martin Brassell, Co-founder and CEO at Inngot Limited said: 'As valuers, we have to exercise our professional judgement, subject the inputs that we're given to professional scrutiny, and do an inordinate amount of background research in order to put the information we're being given into a sensible, commercial, and, if necessary, IP landscape context. That's really where the hard yards are.'

This year's Innovation & IP Market, themed 'Smart City Innovation', showcased over 20 innovative projects in areas such as smart city technology, digital business, smart living, artificial intelligence (AI) and robotics, and transportation. Xu Song, Deputy Director, Science & Technology Innovation Division of the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen said: 'The Business of IP Asia Forum provided an excellent platform for exploring business opportunities and networking. The Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen gathered enterprises and institutions in the field of intellectual property and joined the forum. They received enquiries from over 40 renowned IP organisation and technology companies from various countries and regions regarding policies and measures for establishing operations in Qianhai. This helps enterprises in both 'going global' and 'attracting foreign investment'."

E-Day promotes exchange and uncovers new opportunities

The HKTDC E-Day also concluded on Friday. Themed 'Where Start-up Dreams Take Flight', this year's E-Day showcased over 340 start-ups, invention projects, and support services from 13 countries and regions, and invited more than 60 industry leaders to participate in business matching meetings and networking events.

Hong Kong start-up Lacess Limited participated in E-Day for the first-time, showcasing sustainable footwear made from upcycled farm waste, factory waste, recycled plastic, and other innovative materials. Natalie Chow, CEO & Co-founder of Lacess Limited said: 'As a start-up, we know the power of making connections to drive growth. Entrepreneur Day was an incredible opportunity to meet like-minded innovators, exchange ideas, and explore collaborations that could help us expand into new markets. It's been inspiring to see how global businesses can come together to create meaningful change.

The Thailand pavilion, organised by the Department of International Trade Promotion under the Ministry of Commerce of Thailand, participated in E-Day for the first time, showcasing 10 key start-ups from Thailand. Pannakarn Jiamsuchon, Thai Trade Commissioner & Consul (Commercial) said: 'HKTDC's E-Day provided a perfect platform for Thailand to shine. Our participation at E-day not only promoted the Thai start-up sector but also drew global investors into the market, creating a win-win situation for the international business community.'

The Australian pavilion, led by Investment New South Wales (NSW), took part in E-Day for the second consecutive year, and showcased nine start-ups specialising in health tech, green tech, smart city solutions and other related technologies. A representative from the Australian pavilion said they wanted to take advantage of E-Day to introduce New South Wales' start-ups to overseas markets.

Start-up Express International leads top start-ups to explore Greater Bay Area opportunities

Now in its third edition, Start-up Express International continues to support global start-ups in establishing a presence in Hong Kong and expanding into regional markets. The programme is supported by global partners worldwide, and 10 winning global start-ups were selected last month. The winning start-ups attended the 'Start-up Express International - Meet the Global Winners' session during E-Day to share their entrepreneurial experiences and network with each other.

Jimmy Ng, Investment Director at Gobi Partners, said: 'It's amazing to see Start-up Express International connecting top start-ups from across the globe further reflecting Hong Kong's growing role as a global innovation hub. Over the years, Hong Kong has introduced significant policies to support innovation and technology, especially with more proactive measures to drive university research translation and industry-academia collaboration. These efforts, combined with initiatives to boost start-up funding and private investment, are creating a strong ecosystem that empowers entrepreneurs to turn their ideas into impactful businesses.'

[Replay of BIP Asia Forum event, including highlights of the exhibition and forums, will be available from 7 December 2024 to 6 January 2025. Replay of E-Day event will be uploaded after 7 January 2025.]

BIP Asia Forum website: https://bipasia.hktdc.com/en/
E-Day website: https://eday.hktdc.com/en
Start-up Express International website: https://portal.hktdc.com/startupexpress/en/s/start-up-express-international

Photo Download: https://bit.ly/3ZDjnnz

IP valuation and financing experts gathered experts to discuss current trends, share best practices and shed light on the potential of bringing IP financing to the mainstream.

The Innovation & IP Market, themed 'Smart City Innovation', showcased over 20 innovative projects in areas such as smart city technologies, digital business, smart living, artificial intelligence and robotics, and transportation

The HKTDC E-Day, themed 'Where Start-up Dreams Take Flight', attracted around 11,800 visits

Start-ups funded under the Funding Scheme for Youth Entrepreneurship in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), supported by the Home and Youth Affairs Bureau, also participated, sharing their experiences and success stories of starting businesses in the GBA

The Thailand pavilion, organised by the Department of International Trade Promotion under Ministry of Commerce of Thailand, participated in E-Day for the first time, showcasing 10 key start-ups from Thailand

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About the HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly SMEs, in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via trade publications, research reports and digital news channels.

Source: HKTDC

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