InnoEX, Spring Electronics Fair boost tech hub status

• 2nd InnoEX, 20th HKTDC Hong Kong Electronics Fair (Spring Edition) drew some 88,000 buyers from 139 countries and regions
• Apart from local visitors, the fairs welcomed buyers mainly from Mainland China, India, Japan, Korea and the United States
• 31% of the local exhibitor respondents consider AI as the strongest I&T field in Hong Kong, followed by Fintech (27%)
• Product categories with strong growth potential seen as smart home or smart living products and solutions (23%), electronic or electrical accessories (20%) and home appliances (16%)

HONG KONG, Apr 16, 2024 - (ACN Newswire) - The second edition of InnoEX, co-organised by the Innovation, Technology and Industry Bureau of the Hong Kong SAR Government and the Hong Kong Trade Development Council (HKTDC), along with the 20th HKTDC Hong Kong Electronics Fair (Spring Edition), concluded today following four resoundingly successful days. This year’s fairs attracted some 88,000 buyers from 139 countries and regions, mainly from mainland China, India, Japan, Korea and the United States, highlighting Hong Kong’s advantages in its pursuit to become an international innovation and technology (I&T) centre.

Sophia Chong, HKTDC Deputy Executive Director, said: “InnoEX and the Electronics Fair, as signature events of the Business of Innovation and Technology Week (BITWeek), along with a series of fascinating events, synergistically fostered international technological innovation in Hong Kong, propelling the region towards unparalleled economic and social development. The findings of the survey conducted during the events underscore the prevailing optimism among exhibitors and buyers regarding promising business prospects. Capitalising on Hong Kong’s esteemed position as an international trade centre, the HKTDC is committed to supporting companies in expanding their market reach for innovative products, fortifying the I&T ecosystem, and augmenting local I&T capabilities.”

At InnoEX the Smart Hong Kong Pavilion set up by the Office of the Government Chief Information Officer (OGCIO) showcased over 100 technology solutions closely related to people’s daily lives through interactive experience and live demonstrations. The Innovation and Technology Commission (ITC) also presented remarkable AI and robotics technology achievements by 16 research centres under InnoHK. Numerous Hong Kong pavilions and tech companies introduced innovative projects that received positive feedback from industry professionals. The exhibition also featured 20 pavilions from 16 provinces and cities in Mainland China, along with the So French So Innovative pavilion and the India and Canada pavilions, showcasing cutting-edge technologies such as aerospace and satellite technology, chips, data analysis, AI and robotics that can be adopted across various industries. The pavilions attracted many buyers interested in further understanding products and solutions, and engaging in business negotiations.

PTF AreaTech Company Ltd, a Hong Kong start-up exhibiting at InnoEX, is working with a state-owned enterprise to promote application of BeiDou satellite technology in Hong Kong and ASEAN countries. Jonathan Maang, Chief Technology Officer of the company, said: “On the first day of the exhibition, we were visited by representatives from several Hong Kong government departments who provided valuable advice to help us optimise our technological solutions. In just a day and a half we received nearly 120 guests, including potential buyers from Japan and ASEAN. The exhibition has opened the international market for us and presented us with numerous business opportunities. We look forward to showcasing even more of our application solutions at next year’s exhibition.”

InnoEX attracted many heavyweight buyers. Don Tsang, Senior Business Director, Digital Technology Business, Ant Group, said: “The scale and international scope of InnoEX is truly impressive. The exhibition enables us to connect with exhibitors hailing from Southeast Asia, Europe and the United States. The innovations showcased have the potential for wide-ranging applications across diverse industries. What particularly captured my attention were the exhibitors from Shenzhen. Their products have already reached a high level of maturity and have successfully attained dominant market leadership. I look forward to attending InnoEX again next year!”

Hong Kong exhibitor Greentek participated in the Spring Electronics Fair for the 20th year. Ken Cheung, Regional Sales Manager of the company, stated: "Around 50 buyers, mainly from Europe and the US, showed interest in our products including TV components and smart storage boxes, and we have already received on-site orders totalling approximately US$200,000. We will definitely participate at the fair again next year." Additionally, Korean juicer company Hurom also leveraged the fair to connect with buyers from emerging markets such as India, Malaysia, Russia and Turkey with the hope of expanding into more new markets.

Nico Broder, CEO of Spanish company Atlantis Internacional SL, was sourcing smartwatches, smartphones and mobile accessories at the Spring Electronics Fair. He said: “We are expanding our product range, and have already found new suppliers at the exhibition. We expect to purchase products valued between US$2 million and US$4 million.”

ASEAN Roundtable fosters cooperation; Nobel laureates share insights

Highlighted InnoEX events included the ASEAN Roundtable, which brought together officials from ASEAN countries, Mainland China and representatives from research institutions who discussed smart-city strategies and needs. The discussions covered topics such as promoting digitalisation, enhancing citizens’ digital skills, supporting start-up development, practicing sustainable development and a people-centric approach, and strengthening internet coverage and security. Exhibitors also introduced I&T solutions. Representatives from ASEAN, Mainland China and Hong Kong SAR Government officials had in-depth exchanges at the meetings and appreciated the discussions, believing they contributed to promoting government-to-government (G2G) and government-to-business (G2B) cooperation.

Dr Alias Bin Rameli, Director General of Town and Country Planning, Ministry of Local Government Development, Malaysia, attended the Roundtable discussion and led a delegation of representatives from Malaysia’s 16 states and federal territories to visit InnoEX. He stated: “We came across many products and technologies with great potential, such as solutions for water management and wastewater treatment. Malaysia's smart city development initiative holds the potential to unlock over a thousand business collaboration opportunities. We leveraged this exhibition to establish valuable partnerships and explore deeper avenues for cooperation. We will continue to seek suitable technological solutions to advance our development goals."

The Hong Kong Alumni Association of Beijing Universities set up a pavilion and organised the inaugural Hong Kong World Youth Science Conference during InnoEX, inviting Nobel laureates, Turing Award winners, I&T professionals and renowned scientists to share insights. The conference attracted enthusiastic participation and engagement from professionals across various sectors.

Recognising the crucial role of young talent in promoting I&T ecosystem development, this year’s InnoEX and Spring Electronics Fair introduced Exhibitors Meet Talents. This initiative, aimed at helping exhibitors attract talent, drew job seekers to explore employment opportunities and engage in discussions with prospective employers.

AI considered most promising field in local I&T industry

Independent surveys commissioned by the HKTDC at the fairs, with over 340 respondents from InnoEX and 670 from the Electronics Fair, made several key findings:

InnoEX

• 31% of the local exhibitor respondents identified AI as the strongest and most advantageous I&T area in Hong Kong, followed by Fintech (27%).
• 37% of respondents believed the market growth potential of I&T is the greatest in the Guangdong-Hong Kong-Macao Greater Bay Area cities in Mainland China, followed by other mainland cities such as Beijing, Shanghai and Chengdu (36%), ASEAN countries (27%) and Hong Kong (26%).
• Local exhibitor respondents believed Hong Kong start-ups have the greatest advantage and potential in the field of AI research (24%), followed by information and communications technology (21%).

Spring Electronics Fair

• Exhibitors were optimistic with 64% of respondents anticipating an increase in overall sales in the next one to two years.
• Participants identified smart home and smart living products and solutions (23%), electronic and electrical accessories (20%) and home appliances (16%) as the electronics product categories with the highest growth potential in major markets this year.
• Respondents believe that in the next two years, potential is highest for extended reality (XR) in audiovisual entertainment uses, as well as mobile and online games (both at 26%).

The exhibitions adopt the HKTDC’s EXHIBITION+ model, merging online and offline elements. Exhibitors and buyers can continue to network through the Click2Match smart business-matching platform until 23 April (Tuesday).

Photos Download:  https://bit.ly/442qeaB

Websites
InnoEX: innoex.hktdc.com/en
Hong Kong Electronics Fair (Spring Edition): hkelectronicsfairse.hktdc.com/en

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About 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 small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn