Hong Kong was ranked 1st in Fraser Institute’s 2021 Annual Report on Economic Freedom of the World. With its deep talent pool, improved R&D capabilities, ample funding opportunities and an increasingly supportive ecosystem, Hong Kong has much to offer to international and mainland Chinese startup founders who wish to set up a business presence here. Currently, there are over 3,700 startups in Hong Kong in 2021, a growth of 12% compared to the 2020 figure.