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India’s e-passport era begins in Dubai: Here’s what applicants need to know

The passports come embedded with a secure electronic chip containing digitised personal and biometric data

Nida Sohail
Nida Sohail

31 October, 2025

India’s e-passport era begins in Dubai: Here’s what applicants need to know
Image credit: Getty Images

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In a significant digital upgrade to its citizen services, the Consulate General of India in Dubai has announced the rollout of the Global Passport Seva Programme (GPSP 2.0) for all passport services starting October 28, 2025. The move marks a major step toward enhanced efficiency, security, and user convenience in the passport issuance process.

All applicants will now be required to use the new online portal for availing passport-related services beginning October 28, 2025, through the link.

Read more-New rule: India mandates stricter passport photo specs for applicants

Applicants can register on the portal by clicking on the “Register” link and then log in using their credentials. After logging in, they can generate a new application, complete the submission online, and print a copy of the submitted form.

Once the form is completed, applicants must book an appointment through the following link and visit their respective BLS International Center with the necessary documents:

This new system promises a smoother process, eliminating much of the paperwork and in-person delays previously experienced at passport service centers.

Key features of GPSP 2.0

Under the upgraded PSP 2.0 system, e-passports will now be issued to applicants. These passports come embedded with a secure electronic chip containing digitised personal and biometric data, facilitating faster and safer clearance at immigration checkpoints.

Applicants can also upload their ICAO-compliant photographs, signatures, and supporting documents directly on the portal. The Consulate has encouraged users to make use of this feature to minimize waiting times at BLS centers.

For guidance on photograph standards, applicants can refer to the ICAO-compliant photo guidelines

Additionally, minor corrections in applications can now be made by the service provider at their end, without any extra charge, removing the need to retype the entire application at BLS centers.

More details about the rollout can be found on the Consulate’s official website

The e-passport advantage

An e-passport, or electronic passport, combines a traditional paper booklet with a Radio Frequency Identification (RFID) chip and antenna embedded within its inlay. This chip securely stores the passport holder’s personal and biometric information. The e-passport can be visually identified by a small gold-colored symbol printed below the front cover.

The primary advantage of the e-passport lies in its enhanced data security and integrity. Each e-passport contains data both in printed form and as a digitally signed electronic record stored on the chip. Immigration officials worldwide can authenticate this data securely, reducing risks of forgery, tampering, and fraudulent use.

The system’s security backbone relies on Public Key Infrastructure (PKI) technology, a robust framework that ensures the authenticity, integrity, and confidentiality of the personal data stored within the passport chip.

No immediate replacement needed

The Consulate clarified that it is not mandatory for holders of existing valid passports to replace them with e-passports. All passports currently issued by the Government of India will remain valid until their expiry.

As passport offices across India are gradually equipped with e-passport issuance technology, citizens applying through these offices will automatically receive the upgraded version. The phased rollout across India is expected to take several months.

For more information and FAQs about e-passports, visit here.

Dubai: DFM reports 212% rise in 9-month net profit

DFM’s total market capitalization stood at Dhs995bn, reflecting a well-balanced and diversified sectoral composition

Neesha Salian
Neesha Salian

31 October, 2025

Dubai: DFM reports 212% rise in 9-month net profit
Image: WAM

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Dubai Financial Market (DFM) said on Thursday its net profit before tax for the first nine months of 2025 rose 212 per cent to Dhs930.8m ($254m) from Dhs298.7m a year earlier, driven by higher trading volumes and a surge in listings activity.

Consolidated revenue climbed 138 per cent year-on-year to Dhs1.1bn, supported by robust trading income, investment returns, and the sale of an investment property worth Dhs467.2m.

Operating income contributed Dhs409.7m, while total expenses remained largely stable at Dhs162.6m.

DFM’s general index gained 13.2 per cent during the period to close at 5,839.64 points, reflecting continued investor confidence. Market capitalisation reached Dhs995bn, up 9.7 per cent from the end of 2024.

“The sustained growth in trading activity and market capitalisation highlights the continued success of DFM’s strategy to deepen liquidity, attract global participation, and enhance market accessibility,” said chairman Helal Saeed Al Marri. He added that DFM remains aligned with Dubai’s Economic Agenda (D33) to strengthen the city’s position as a global financial hub.

Read: Dubai Financial Sector Strategy gets nod, here’s what it entails

DFM performance highlights

Average daily traded value reached Dhs709m, an 83 per cent increase from Dhs387m in the same period last year, while total traded value rose 82 per cent to Dhs133bn. The average number of daily trades climbed 48 per cent to 13,600.

DFM said it added 82,742 new investors during the nine months, 84 per cent of whom were foreign, bringing its total investor base to over 1.2 million. Foreign investors accounted for 51 per cent of total trading value and held 20 per cent of total market capitalisation. Institutional investors represented 70 per cent of trading activity.

Key market developments during the period included du’s secondary share sale, the UAE’s first fully marketed secondary public offering, and the IPO of ALEC Holding in September, which further diversified listings on the exchange.

Financials made up 42 per cents of DFM’s total market value, followed by real estate (19 per cent), utilities (16 per cent), and industrials (12 per cent), with communications services accounting for 4 per cent.

“DFM’s robust performance reflects steady progress in executing our strategic priorities, deepening market liquidity, broadening participation, and enhancing access for both local and international investors,” said Hamed Ali, CEO of DFM and Nasdaq Dubai.

He said the exchange would continue to focus on digital transformation, new products, and innovation to support long-term growth and strengthen Dubai’s standing as a leading regional capital market.

Ancient desert wisdom: Your guide to thriving amid leadership burnout

How ancient desert wisdom can help today’s leaders navigate burnout with purpose, rhythm, and beauty

Ancient desert wisdom: Your guide to thriving amid leadership burnout
Image credit: Getty Images

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In today’s world, exhaustion has become a modern badge of honour, proof of drive, ambition, and relevance. Fatigue is flaunted as evidence of progress. Yet beneath this performance lies a quiet emptiness: a drought of meaning.

We mistake this inner drought for burnout, assuming rest or escape will cure it. But rest cannot refill what purpose has drained. The real crisis isn’t overwork. It’s disconnection.

Centuries ago, travellers crossed the harsh deserts of Arabia and Persia under the same blazing sun we now race beneath, theirs literal, ours metaphorical. They survived not by resisting the desert, but by aligning with its rhythm.

“The desert never kills the prepared, only the distracted.”

In leadership and life, it is not effort that destroys us, but effort without direction.

The desert as a teacher

For desert dwellers, emptiness was not punishment, it was purification. The sand stripped away illusion until only what mattered remained: purpose, rhythm, and presence.

They travelled with three invisible companions: Intention, steadiness and excellence.

These weren’t virtues, they were survival systems.

The camel of intention

“Every journey is judged not by its distance, but by the purity of its beginning.”

Before a caravan departed, its leader declared aloud why the journey mattered. When storms erased the tracks, purpose became navigation.

Modern professionals often move before they ask why. We confuse momentum with meaning. But movement without direction only deepens fatigue.

Modern practice:

  • Define three meaningful actions each morning.
  • Write why each matters.
  • If the “why” doesn’t inspire, change the action — not the effort.

Purpose is the invisible oasis that sustains endurance. Without it, every hour turns to sand.

The camel of steadiness

“Patience is not waiting, it is walking at the right pace under the same sun.”

In the desert, haste was fatal. Caravans that sprinted in excitement collapsed before dusk. Survival depended on rhythm, effort balanced with breath.

Modern burnout is rhythm failure. We push without pulse, mistaking busyness for aliveness. Steadiness is not slowness, it’s perseverance, the pace that protects progress.

Modern practice:

  • Work in 90-minute focus cycles followed by 15-minute renewal breaks.
  • Schedule reflection within your day, not after it.
  • Guard sleep, sunlight, and silence as strategic assets.

A leader with steadiness doesn’t move slower, they move smarter.

The camel of excellence

“Do what you do as if the divine were watching.”

In ancient markets, artisans carved even the unseen sides of their work. Why? Because beauty must exist even where eyes do not. That is excellence, doing things beautifully, not because you must, but because you can.

When people stop caring about quality, their spirit detaches from their work, and fatigue follows. Ihsan restores pride, presence, and energy by reconnecting craft with care.

Modern practice:

  • Refine one task beyond necessity each week.
  • End every project with a small act of grace, a reflection, a note, or gratitude.

Excellence replenishes self-respect, the ultimate renewable fuel.

The oasis mind

The oasis is not a place. It’s a state of balance.
It appears when direction, rhythm, and beauty align.

To cultivate it:

  • Keep goals within believable reach.
  • Celebrate small wins along long roads.
  • Stay curious, curiosity is water for the mind.

When you master this, even chaos becomes climate, not crisis.

The inner desert

Every human carries a desert within, vast, silent, and demanding truth.
You can fill it with distraction, or you can walk it with awareness.

When you find intention, your steps align.
With preseverence, your pace steadies.
With excellence, your heart rehydrates.

“The desert does not burn those who walk with intention, rhythm, and beauty.
It only burns those who forget why they began.”

So walk, not faster, but truer. Carry your three camels faithfully: Intention, steadiness and excellence. Let your work be your prayer, your patience your compass, and your excellence your shade.

Then, even under the fiercest sun of ambition and doubt, you will not burn out, you will shine.

Science of harm reduction: What the Middle East can learn from Sweden

Sweden is a best-practice example of how switching away from cigarettes can fundamentally reshape public health trends, writes BAT’s Alexandre Ghanem.

Science of harm reduction: What the Middle East can learn from Sweden
Alexandre Ghanem GM MENA at British American Tobacco (BAT)

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Tobacco use remains a major public health challenge across the Middle East. In seven countries often grouped for regional analysis – Egypt, Pakistan, Jordan, Lebanon, Kuwait, Saudi Arabia, and the UAE – about 61 million adults were reported consumers of tobacco products in 2024, out of a combined population of roughly 390 million. Within this context, cigarette smoking remains both deeply ingrained and a leading public health challenge.

WHO projections also indicate only a modest decline in smoking prevalence in the region through the mid-2020s, underscoring the need to complement existing tobacco-control measures with pragmatic tools that can reduce the public health burden of smoking. Such burden is often seen at its highest in low and middle-income countries, where traditional cessation methods fail to support most smokers. This is precisely why risk-proportionate harm-reduction strategies are becoming increasingly discussed as an equity issue in public health.

Harm reduction as a pillar of tobacco control

Tobacco harm reduction (THR) refers to policies and tools that aim to mitigate the adverse health effects associated with continued smoking by encouraging adult smokers who would not otherwise quit, to switch completely to smokeless alternatives with a reduced-risk profile. THR, underpinned by science-led innovation, can help reduce the population level harm associated with using tobacco.

Evidence from countries, such as Sweden, show that offering potentially reduced-risk smokeless alternatives can accelerate declines in smoking and relieve pressure on health systems.

Understanding the risk profile of smokeless products

Recent commentary in the Middle East has asserted that tobacco-free oral nicotine pouches contain numerous harmful substances and implied equivalence with smoking-related risks. However, the weight of evidence points in a different direction, underscoring the need for communications to highlight the relative risk profile of smokeless products compared with smoking, so that adult consumers receive accurate and actionable information.

Across the range of such products, tobacco-free oral nicotine pouches have emerged as particularly promising for adult smokers who would otherwise continue to smoke, offering a pathway to switch to smokeless alternatives.

These alternatives do not claim zero risk – no nicotine product is risk-free – but they do show relative risk reductions compared with continued smoking. What drives the difference? Risk tracks with exposure to smoke, not nicotine itself. Products that avoid combustion reduce exposure to smoke-borne toxicants.

This has been acknowledged by the UK Government Committee on Toxicity, who have stated that using tobacco-free oral nicotine pouches which are produced according to appropriate manufacturing standards and used as recommended “as a replacement for [conventional cigarettes] smoking, would be associated with a reduction in overall risk of adverse health effects…”.

Primarily, leading health bodies separate nicotine from combustion in assessing major health risks, noting that nicotine itself (i) is not a carcinogen; and (ii) does not contain toxic chemicals found in cigarettes. Second, at the population level, countries with high uptake of smokeless alternatives have seen sharply better health outcomes than their peers with similar nicotine exposure but higher cigarette consumption.

Furthermore, switching from cigarettes to smokeless alternatives, such as tobacco-free oral nicotine pouches, is also associated with better day-to-day oral health markers. These range from improved gum condition, reduced bacterial plaque, healthier mucosal vascularisation, increased salivary flow, and normalised breath compared with continued smoking.

Multi-country research is now quantifying these effects at scale: the SMILE trial across Italy, Poland, Moldova, and Indonesia is tracking changes in tooth colour, plaque and gingival health in adults who switch to smokeless alternatives for nicotine delivery, expecting measurable improvements in oral aesthetics and gum status.

The reduced risk profile of such pouches is further complemented by the fact that they have been adopted and are in use in 40 plus countries, offering a non-combustible, socially considerate format that avoids smoke and second-hand exposure.

Sweden’s smoke-free trajectory

Sweden is a best-practice example of how switching away from cigarettes can fundamentally reshape public health trends. Sweden has long embraced a risk-proportionate approach to smokeless alternatives, notably with tobacco-free oral nicotine pouches, which have widely been recognized as a lower-risk profile alternative for nicotine use by several government bodies and members of the public health community.

This is reflected in the fact that Sweden’s cancer incidence is 41% lower than the European average, with a corresponding 38% lower rate of total cancer deaths – underscoring the effectiveness of a THR-centred policy approach.

In fact, the country’s adult smoking rate is now about 5.3% – the lowest in Europe – and has fallen 54% over 12 years, driven by the widespread use of smokeless products, with daily use among adults standing at roughly 15.7%.

A practical path forward for the Middle East

The imperative is clear: regulate to protect youth, communicate risk proportionately, and ensure adult smokers have access to reduced-risk profile alternatives. In a region with tens of millions of smokers, the public-health opportunity is significant.

For Middle Eastern regulators faced with high health risk burdens, THR offers a complementary policy pathway that supports reductions in smoking rates and associated harms. As the Swedish experience suggests, when adult smokers have affordable, acceptable, and reduced-risk profile alternatives, smoking prevalence drops, quitting rates rise, and disease indicators improve.

By looking to best practices worldwide, the region can adopt a similar approach to reduce the health burden associated with combustible tobacco use.

IHC sells 42.54 per cent stake in Modon to L’imad Holding

IHC will sell its entire 42.54 per cent stake in Modon Holding to L’imad Holding Company

Neesha Salian
Neesha Salian

30 October, 2025

IHC sells 42.54 per cent stake in Modon to L’imad Holding
Image: IHC/ X

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International Holding Company (IHC) said on Thursday it has sold its entire 42.54 per cent stake in Modon Holding to L’imad Holding Company, a wholly owned entity of the Abu Dhabi government, as part of efforts to rebalance its portfolio and reinforce diversification.

The transaction forms part of IHC’s active portfolio management strategy, which limits exposure to any single sector to below 20 per cent.

The company said the sale will unlock additional liquidity to reinvest in priority sectors such as healthcare, technology, energy, food and agriculture, and financial services.

Modon brought in robust revenues in 2024, IHC said

Since acquiring its stake in Modon in August 2023, IHC said the real estate and infrastructure developer has achieved multi-billion-dirham revenue and profitability in 2024, with momentum continuing into H1 2025.

The company cited strong real estate sales and a robust revenue backlog as indicators of Modon’s performance.

“This sale reflects our disciplined approach to capital allocation and our commitment to maintaining a well-balanced, diversified portfolio,” said Syed Basar Shueb, CEO of IHC. “While we continue to see attractive fundamentals in real estate, our strategy is to avoid over-concentration in any single sector.”

IHC, one of the Middle East’s most valuable holding companies with a market capitalisation of Dhs881.6bn ($239.9bn), said it would continue to assess new investment opportunities that support sustainable long-term growth and resilient cash flows.

Read: Abu Dhabi’s IHC acquires majority stake in Pakistan’s First Women Bank

Why Hong Kong Science and Technology Park is a global innovation hub: CEO Terry Wong

CEO Terry Wong discusses the park’s unique startup nurturing process, world-leading tech cluster ranking, and its showcase at GITEX this year

Neesha Salian
Neesha Salian

30 October, 2025

Why Hong Kong Science and Technology Park is a global innovation hub: CEO Terry Wong
Images: Supplied

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The Hong Kong Science and Technology Parks Corporation (HKSTP) has been a key driver of Asia’s innovation ecosystem for over two decades. Located on the Tolo Harbour waterfront in Pak Shek Kok, the 400,000-square-metre campus provides a vibrant environment where science and technology companies can innovate and grow, supported by state-of-the-art R&D facilities, market-led laboratories, and other amenities that create a live-work-play ecosystem.

HKSTP serves as a magnetic hub for the world’s brightest innovators and most ambitious capital, powering a dynamic ecosystem of more than 25,000 working population. This is where students evolve into startup founders, and successful alumni return as mentors. This self-reinforcing cycle of growth and collaboration—this is the essential “soft power” that HKSTP provides to its 2,400 park companies.

Following a successful debut at LEAP 2024 that resulted in deep conversations with local authorities and MOUs with innovation bodies including establishing solid action plans for exchange and nurturing programmes, HKSTP has also returned to GITEX GLOBAL 2025 to showcase its offers and tap collaboration opportunities with the Middle East region.

We sat down with CEO Terry Wong to get the details on HKSTP’s objectives for GITEX GLOBAL and the park’s broader engagement with the Middle East.

HKSTP at LEAP 2024/ Image: Supplied

What did you showcase at GITEX GLOBAL 2025.

Thanks to last year’s delegation to the Middle East, we have established a good network and communications with companies and entities in the region. The exciting part is that we are in positive conversations for collaborations. That’s really one of the best outcomes we got from last year. And we’re going to solidify more partnerships.

We’re showcasing exciting things this year too. First, our team gained insights from last year’s event, learning what the market, participants, potential customers, and investors are interested in. This year, our team lead a delegation of 17 of Hong Kong’s brightest innovators specialising in AI, life and health, green technology, and more, to join GITEX Global and Expand North Star. The delegation was a strong representation of Hong Kong’s I&T power as a global innovation and technology hub.

HKSTP delegation actively engaged with international visitors and potential partners/ Image: Supplied
The HKSTP delegation actively engaged with international visitors and potential partners/ Image: Supplied

Secondly, our team has lined up over 200 business meetings connecting our park companies with international partners and different people so that we have a better understanding of who or where we want to meet to have a greater impact afterwards and bring in a follow-up with the highest success rate.

One notable achievement is Comba Telecom, which landed a partnership with Nedaa, the local telecommunications provider, to advance next-generation communication technologies across the UAE and surrounding regions.

The HKSTP team at the Hong Kong Pavilion at GITEX GLOBAL 2025/ Image Supplied

What makes HKSTP such an important partner for companies looking to expand into Asia?

Let’s start with some good news for our city. Recently, Shenzhen-Hong Kong-Guangzhou cluster — was ranked the top tech cluster in the world by WIPO. Being recognised as the number one cluster is a strong endorsement of Hong Kong as a hub for R&D and IP development. Another key factor in this ranking was the activity of investment and funding for R&D initiatives, which highlights that this cluster is not only ideal for startups to launch, but also attractive for investors seeking innovation opportunities.

Another supporting strength is talent. Hong Kong ranks among Asia’s top destination for international talent and holds the 4th position globally. This means startups can access some of the best talent from around the world. The city is also home to world-class universities and academics, providing an ecosystem rich in knowledge and expertise.

With the broader Greater Bay Area, which includes Hong Kong, Shenzhen and Guangzhou, HKSTP can capture the full value chain — from ideation and incubation to commercialisation and market expansion. The region offers ample resources, land, and infrastructure to support every stage of a startup’s growth.

The Hong Kong cluster provides comprehensive solutions in a way that’s rare globally. For startups and investors from the Middle East, it’s an ideal place to establish a presence, seek partnerships, or explore investment opportunities. It also opens pathways back to the Middle East for commercialisation and collaboration. In short, Hong Kong is a strong starting point and a reliable partner for anyone looking to innovate and scale in Asia and globally.

Hong Kong Science and Technology Parks Corporation/ Image: Supplied

Can you shed some light on existing partnerships and collaborations with companies, startups, or government authorities in Hong Kong?

We have a wide range of partnerships. Take the life and health tech sector as an example. The HKSAR Government provides extensive support through enabling policies. These not only ensure the right legal and regulatory framework for IP protection, but also give us access to Hong Kong’s network of hospitals for test cases, trials, and clinical studies.

The government is also establishing a Hong Kong equivalent of the FDA to approve drugs and medical devices. Once certified, these products can enter the Greater Bay Area and potentially expand into China and other Asian markets. These policies are critical for startups aiming to scale regionally.

On the private sector side, many multinational pharmaceutical and biotech companies have established a presence at HKSTP. They bring strategic value — not just through R&D, but also by providing commercial networks that help our startups with clinical trials, guidance, and commercialisation. They also assess startup viability, offering expertise and support across multiple dimensions.

Equally important, many partners view Hong Kong as a springboard into the China market. As a result, our collaborations serve multiple strategic purposes, creating a dynamic ecosystem for startups and established companies alike.

HKSTP CEO Terry Wong at Investopia Global discussing the potential of cross-border collaboration between the UAE and Hong Kong/  Image: Supplied

Tell us about your investor network.

Over our 24-year history, we have developed an extensive virtual network of over 1,000 investors. Many of them are actively reviewing and engaging with startups on a day-to-day basis. So, when startups want to tap into investment opportunities, this network is readily accessible.

Another notable trend is the influx of successful, mature companies from Chinese Mainland coming to Hong Kong, often with ambitions to expand globally and pursue IPOs here. Many of these companies establish themselves at the park, where we provide end-to-end support — from setting up operations and accessing financing in Hong Kong, to entering overseas markets and attracting international talent for R&D. Many partnerships have already been formed, and we expect even more to develop as this ecosystem continues to grow.

What other areas of technology have potential for collaboration, such as fintech or space? What can you offer startups or companies in the Middle East looking to come to the park?

At HKSTP, we host hundred fintech companies and many of them have achieved significant success. For example, a virtual bank that started as a Hong Kong-based startup is now expanding successfully across Asia.

Hong Kong has long been an international financial hub. Companies here can access the Hong Kong Exchange, benefit from strong regulatory frameworks, and leverage government support for emerging areas like virtual banking and digital assets. The government issues full licences for virtual banks to encourage growth in this sector.

Attendees at GITEX GLOBAL visited HKSTP’s booth/ Image: Supplied

Combined with Hong Kong’s deep expertise in finance, it’s one of the best places to launch a fintech venture, supported by clear policies and a strong, autonomous business environment with robust IP protection. Hong Kong’s legal system, based on common law, is another key advantage.

Based on these factors, many companies choose Hong Kong as a starting point for their business, and I hope to see even more from Dubai and the region exploring opportunities here.

What are some key takeaways companies can learn from Hong Kong in the way it’s conducted business or promoted technology?

I think Dubai has made remarkable progress over the past few decades and is already a strong success story on its own. In Hong Kong, government policy plays a distinct role in fostering private sector growth. It gives businesses ample room to operate independently while providing strong protections — like intellectual property rights, world-class arbitration centre, and other policy-driven frameworks — that ensure a secure environment for business.

Equally important is the free flow of talent. Hong Kong encourages easy access for professionals and expatriates, making it simple for them to settle and work here. Hong Kong has been serving as a hub for international talent, so this convenience is crucial for attracting skilled individuals.

Education, particularly tertiary education, is another key focus. Policies are in place to attract top-tier professors and academics who collaborate with local universities and researchers on R&D projects. This creates a supportive environment for upstream research and innovation.

Moreover, Hong Kong has long been one of the world’s leading free trade areas. Its flexibility and openness make commercialisation and business development straightforward and dynamic. These attributes define Hong Kong’s appeal.

I believe the GCC, including Dubai, is moving in a similar direction. Some markets are already showing strong results, while others are still emerging, but overall, the trajectory is positive and promising.

If a startup from this region comes to your team talking about scaling up, what would be the process they would expect to go through?

We have a very unique process to nurture startups all the way to unicorn status. Honestly, I’ve always wondered why we haven’t trademarked it — it’s that distinctive.

When a startup joins HKSTP, we’re not just offering office space or laboratories. We have structured programmes tailored to each stage of their growth. The first stage is ideation. Startups receive around HK$100,000 in seed funding after going through a thorough application and screening process. But it’s not just about the money — they’re assigned account managers who follow them closely, helping with business challenges and even personal issues.

If a startup successfully moves through ideation, they enter the incubation phase. Here, they receive higher funding to match their development needs. We also start connecting them with investors to showcase their ideas and business models. They gain access to industry experts, training programmes, conferences, and mentorship from experienced entrepreneurs, which teaches them skills outside their core expertise.

Next comes the acceleration phase. Funding increases again, and the criteria for participation become more stringent. This phase is more tailor-made, often including international exposure. Some startups are selected to go to the US for six months, where they receive intensive training, networking opportunities, and introductions to active investors in Silicon Valley. Last year, companies that went through this stage collectively raised over US$15m in business contracts and investments. They return transformed, more confident, and much better positioned to scale.

Finally, our elite programme provides bespoke support for Series B and C funding, guiding startups toward IPOs or further international expansion. It’s a comprehensive system designed to match each startup’s growth cycle.

Over the past 20 years, the programme has supported 13 unicorns. Just last week, I met a company that, on the verge of going public, chose to merge with a multinational to accelerate growth. Stories like this are becoming more common, and it’s exciting to see the impact of a structured, long-term approach.

Apart from Hong Kong-based and Chinese startups, from where else in the world do you have startups located in Hong Kong?

We have quite a significant percentage of international startup companies coming in. Currently, HKSTP is home of over 2,400 technology companies from 26 countries and regions, focusing on healthtech, AI and robotics, fintech, smart city technologies, and more.

There is one interesting case involved young entrepreneurs from different countries who had never met in person. They connected on the internet, shared their ideas, and discovered they had the same vision and dreams. When they started looking at places to start a business, they compared options like Singapore and others, and found that nothing compared to Hong Kong in terms of friendliness, ease of setting up a company and facilities. They eventually chose to base themselves in Hong Kong at our park, working in the labs and facilities we provide. They joined our incubation programme.

Sometimes it’s amazing — you wonder why they choose to come here. But I think they know what we’re doing and appreciate the very unique process I just laid out. They have full confidence in how they can develop and access what they need.

Hong Kong is exceptionally friendly for expatriates. It offers lifestyle, not just work. Our park is very vibrant with restaurants, clubs, and gyms among other offerings. We provide a complete lifestyle.

Looking ahead to 2026, what are the park’s plans to enhance its offerings?

As everybody knows, AI is everything, everywhere. AI has continued to dominate quite a bit in the technology space and our daily life. Going into next year is going to be explosions of applications using AI. Ordinary people, small and medium enterprises, big enterprises—they all started to appreciate and apply AI applications in business to be more efficient and achieve other things they never imagined they could achieve. That’s the major trend.

To harness this momentum, we are excited to announce the establishment of “INNOPOLE,” our new 20-hectare I&T hub in the San Tin Technopole. This strategic hub will provide the dedicated space needed to attract top-tier enterprises and talent, fostering collaboration across the entire innovation value chain.

At the launch of INNOPOLE, HKSTP’s new 20-hectare I&T hub in the San Tin Technopole/ Image: Supplied

Through “AI+ initiative”, we will accelerate the transformation of key industries–from life and health tech to advanced materials, new energy, microelectronics, and electronics. This fusion of digital innovation with Hong Kong’s strengths allows us to proactively meet future societal challenges.

Our park is already a thriving ecosystem for AI, home to over 500 AI-focused startups and 5,000 AI professionals. We are here to ensure that we embed AI as a foundation enabler for all our other technology clusters to develop.

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