The U.S.-Pan Asia IoT Superhighway accelerator has officially been launched in Hong Kong.
The launch by San Francisco-based Wearable IoT World (WIoTW) will focus on driving IoT innovation and entrepreneurship in Hong Kong and Asia while pushing forward IoT development globally.
The accelerator recently closed a round of US$4.5 million led by Radiant Venture Capital. Other investors for this round of funding include TEEC Angel Fund and wCapital.
The official partner of this initiative is Hong Kong Cyberport Management Company Limited (Cyberport) that willl house WIoTW's executive office and WIoTW Labs.
"The HKSAR Government welcomes innovation and technology companies from all over the world to set up offices in Hong Kong. With the establishment of the Innovation and Technology Bureau, we have further strengthened our efforts in coordinating, supporting and expediting the development of Hong Kong's innovation and technology industry," said Ir. Allen Yeung, government chief information Officer of the HKSAR. "We applaud the launch of the US-Pan Asia IoT Superhighway accelerator program which will boost IoT and wearable innovation, nurture startups and drive entrepreneurship in Hong Kong."
Co-invest in local startups
Hong Kong wants to leverage joint resources of different stakeholders to further intensify the development of startups, entrepreneurship, business angels and accelerators to drive high-value innovation and technology industry.
In addition to Hong Kong, WIoTW will continue to expand its support for wearable and IoT startups in other Asian markets, including Shenzhen, Singapore and Southeast Asia.
The 15-week accelerator in Hong Kong will empower bright entrepreneurial talents with an extensive suite of services. A 15-week accelerator is also scheduled to be conducted in Shenzhen in the third quarter of 2016.
Cyberport in Hong Kong will house WIoTW's executive office and WIoTW Labs. Both the partners will also collaborate on organising accelerator events and executive programmes that serve the IoT and wearables community.
"We are thrilled to be able to extend our expertise from the U.S. to this region through a full suite of services for startups and enterprises to excel in IoT, wearables and emerging technologies. This marks a long-awaited milestone in our continued quest to build the easiest pathway to product creation, market awareness, investment and distribution for related startups around the world," said Redg Snodgrass, CEO and Co-Founder of WIoTW.
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