Hong Kong investment and startup incubation firm Nest has signed a ‘friendship agreement’ with London based technology space Level39, the Canary Wharf Group initiative, to encourage technology start-ups in the two cities.
The partnership between the two will provide support that ranges from sharing office space to advising on how individual startups can scale into Europe and China. A “seamless connection” between these two business and financial technology (fintech) hubs, means that the agreement will act as a catalyst for new opportunities in both cities and beyond.
“Opening a ‘tech trade route’ is advantageous to both the UK and Hong Kong,” said Eric Van der Kleij, head of Level39 at Canary Wharf. “Opening a ‘tech trade route’ is advantageous to both the UK and Hong Kong.
“Our partnership with Nest will reduce the number of barriers to entry for innovators to global markets, and will make the Nest and Level39 expert teams available to each other’s startups.”
Simon Squibb, chief executive (CEO) of Nest added: “We see startups from Europe wanting to get into Asia and we see startups in Asia wanting to get into Europe, so this partnership allows us to leverage the resources of both organisations to help founders in our respective markets and ensure their ideas reach their full potential.”
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
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