The difficulties of technology start-ups in obtaining investment funding between the initial seed money stage and venture capital (VC) funding have always been a problem in Hong Kong. To some extent, this has been a result of the lack of organized business angel networks to provide the needed “smart money”. With this understanding, Hong Kong Science and Technology Parks Corporation (HKSTPC), HKVCA, CUHK, HKUST, HKU, and POLYU had worked informally to form the Hong Kong Business Angel Network (HKBAN) in 2010. Angels were being invited to join several Investment Matching Gatherings (IMGs) where entrepreneurs from the incubation programme of HKSTPC and universities had presented their business plans.

After more than a year’s informal operation, the Hong Kong Business Angel Network Limited has officially registered as a non-profit organization with the mission to foster angel investment in Hong Kong.

The investment matching platform is opened up to HKSTPC incubatees and tenants, university start-ups and any start-ups that belong to a recognized Partner Organization which is qualified to conduct a preliminary screening on their investment readiness. IMGs have been held since March 2010 at the rate of roughly once every two months.