On 14 November, the Hong Kong Science and Technology Parks Corporation (HKSTP) hosted Elite Global Inno Day, spotlighting startups from its Elite Programme. Since its launch in 2019, the initiative has supported 42 high-growth potential companies in expanding beyond Hong Kong.
“The Elite Programme’s goal is to help these companies thrive, grow, and achieve their global ambitions,” shared Eric Or, HKSTP’s chief corporate development officer. “In generating significant global impact, Elite Programme startups can also attract global talent to Hong Kong, reinforcing our status as a tech and talent hub.”
The event brought together over 200 investors and partners, with 17 Elite Programme startups pitching their innovative solutions. Panel discussions featured industry representatives and startups sharing insights on strategies for global growth, including Ksher Group, a standout participant.
Pivoting for Resilience
Founded in 2016, Ksher Group initially enabled merchants in Southeast Asia to accept payment methods like Alipay and WeChat Pay for Chinese tourists. However, the pandemic disrupted this model, forcing the company to pivot in 2020.
Leveraging its expertise in bridging China and Southeast Asia, Ksher shifted to solving cross-border payment challenges for Chinese SMEs selling to Southeast Asian consumers. Its compliant payments infrastructure allows merchants to receive secure, low-cost cross-border payments, while partnerships with banks provide favorable exchange rates and access to robust financial services.
“Our ground teams understand local challenges deeply, like transaction limits in the Philippines, which we successfully addressed through collaboration with stakeholders,” said Siva Ramanathan, Ksher’s senior vice president.
Looking ahead, Ksher is focused on strengthening intra-ASEAN trade. “There’s a lot of Southeast Asian blood in our veins,” Ramanathan noted. “We’re well positioned to support the region’s growing trade ecosystem in the coming years.”
HKSTP’s Elite Global Inno Day underscores the role of innovation in tackling global challenges and highlights the resilience and ingenuity of startups like Ksher, paving the way for transformative growth.