A New Era of Innovation in Asia

In an exciting development for Asia, Hong Kong has officially joined forces with two mainland Chinese cities to be named the foremost innovation cluster globally—a title that signifies a remarkable achievement in creativity and entrepreneurship.

Dominating the Global Innovation Index

This groundbreaking recognition comes from the World Intellectual Property Organisation's (WIPO) 2025 Global Innovation Index, where the Shenzhen-Hong Kong-Guangzhou triad has finally dethroned the Tokyo-Yokohama region, marking a significant shift on the international stage.

What’s Behind the Ranking?

The announcement, made at Hong Kong Science Park, highlighted a new ranking methodology that prioritizes venture capital engagements alongside traditional metrics like patent filings and scientific outputs. Carsten Fink, WIPO's chief economist, emphasized that these three factors now play equally crucial roles in evaluation, using extensive data from over 236,000 venture deals globally.

Innovating Beyond Academia

Fink pointed out that the objective is not merely to track scientific endeavors but to observe how these ideas transform into market-ready products and services. This transformation is vital for establishing a thriving ecosystem of entrepreneurship.

Competitive Landscape

Trailing the newly crowned cluster are notable competitors—San Jose-San Francisco clinching third place, followed by Beijing and Seoul. The data shows that the Shenzhen-Hong Kong-Guangzhou cluster entered 2025 with 6,916 reported venture capital deals, ranking it sixth globally, though the leaders in this category remain San Jose-San Francisco.

Research and Patents: The Backbone of Innovation

In terms of scientific research, the collaboration produced an astonishing 193,605 publications, placing it third overall, behind Beijing and Shanghai-Suzhou. Meanwhile, with 117,542 patent applications, it secured the second slot internationally, only overshadowed by Tokyo-Yokohama.

Hong Kong: A Scientific Powerhouse

Fink hailed Hong Kong’s universities as critical to this success, mentioning that their rankings are stellar on a global scale. He noted the significance of spin-off companies from scientific discoveries, citing DJI, the celebrated drone manufacturer, as a prime example of innovation stemming from Hong Kong.

The Influence of Major Corporations

Much of the patent activity in the cluster is credited to tech giants like Huawei and Tencent, which are not only leaders in filing patents but also play a pivotal role in the venture capital landscape that fuels innovative endeavors on both sides of the border.

Looking Ahead: Adapting to Change

Fink concluded that governments within successful innovation hubs, including Hong Kong, must focus on nurturing their existing ecosystems while adapting to rapid technological advancements, particularly in artificial intelligence. Keeping pace with these trends will be essential for all stakeholders ranging from policymakers to entrepreneurs.

A Bright Future for Innovation in Asia

As Hong Kong and its mainland counterparts advance as a united front in innovation, the implications for the global economy could be profound. With ongoing investment in technology and research, the region is poised to remain at the forefront of the next wave of technological breakthroughs.