The Hong Kong Special Administrative Region Government today welcomed the World Intellectual Property Organization’s naming of the Shenzhen-Hong Kong-Guangzhou cluster as number one in its index of the world's top 100 innovation clusters, the Global Innovation Index 2025.

The cluster filed 2,292 Patent Cooperation Treaty applications, published 3,775 scientific articles, and had 135 venture capital deals per million inhabitants over the last five years.

Secretary for Innovation, Technology & Industry Prof Sun Dong told reporters that venture capital is very important to Hong Kong’s development. The Hong Kong SAR Government plans to roll out an improved Innovation & Technology Venture Fund and initiate a new investment programme, the Innovation & Technology Industry-oriented Fund, next year.

It will also implement the Pilot I&T Accelerator Scheme to bring startups from all over the world to Hong Kong.

Through these policy initiatives, Prof Sun said Hong Kong's startup ecosystem will become more vibrant.

In a press release, the Hong Kong SAR Government said the ranking reflects high international recognition of the Greater Bay Area’s innovative capacity.

For the first time, this year’s index includes the number of venture capital deals as a new metric. The Hong Kong SAR Government highlighted that the Shenzhen-Hong Kong-Guangzhou cluster has excelled in channelling capital to support the translation of innovative ideas into material outcomes. It added that Hong Kong is an international financial centre, while the Mainland and Hong Kong rank first and second for venture capital and private equity fund management in Asia.

Going forward, it said, Hong Kong will continue to closely collaborate with its bay area sister cities to advance regional innovation and technology development, and make greater contributions to China's development as an innovative nation.