Hong Kong’s innovation drive is gaining pace as the city officially welcomed blockchain protocol Polkadot. Among the fifth batch of strategic enterprises joining its “Office for Attracting Strategic Enterprises” (OASES) initiative. The move signals Hong Kong growing ambition to position itself as a global hub for Web3 development and digital innovation. Polkadot Expands into Hong Kong According to reports from Hong Kong Wen Wei Po, Polkadot will establish a presence to focus on research, development and business expansion. The addition of Polkadot, a major layer one blockchain network. That known for interoperability and decentralized governance. It reinforces the city effort to integrate blockchain technology into its broader tech ecosystem. 吴说获悉，据香港文汇报报道，香港特区政府引进重点企业办公室公布第五批名单，含近四成海外企业，覆盖人工智能、生物健康与文创科技等领域；其中区块链协议层项目波卡（Polkadot）将在港设点，参与研发与业务拓展。https://t.co/t3s3mzUoy2 — 吴说区块链 (@wublockchain12) October 11, 2025 The latest batch includes 18 companies across artificial intelligence, biotechnology and cultural creative technology. Nearly 40% of them are overseas enterprises, highlighting Hong Kong’s growing global appeal. For the blockchain sector, Polkadot entry is a milestone. This marks one of the first protocol level projects to formally align with Hong Kong innovation policies. Hong Kong Strategic Enterprise Initiative Grows The OASES program, launched in late 2022, aims to attract world class firms. It strengthens the city role as a technology and finance powerhouse. With this fifth batch, Hong Kong has now secured partnerships with 102 major enterprises in just two years. Together, these companies are expected to bring in about 60 billion yuan (US$8.3 billion) in investment. It creates over 22,000 high quality jobs. Yam Jingxin, Director of the Office, said the new additions reflect growing international confidence in Hong Kong policy direction. He emphasized the city’s unique advantages. Such as proximity to mainland innovation hubs like Shenzhen and a strong financial infrastructure. That makes it an ideal base for next-generation industries. Innovation, Culture, and Global Collaboration Beyond tech and healthcare, Hong Kong’s fifth batch marks the first inclusion of cultural and creative enterprises. That combines technology with art and entertainment. This expansion highlights the city’s effort to build a diverse and future ready economy. Financial Secretary Paul Chan Mo-po noted that Hong Kong open culture, global connections and strong creative industries. That makes it a natural hub for digital innovation. Other major additions include mainland internet firm Xiaohongshu, British pharmaceutical company GlaxoSmithKline (GSK). Also, autonomous driving technology developer WeRide. Together, these companies represent a mix of global expertise and emerging technologies. That will contribute to Hong Kong’s innovation ecosystem. Nearly 90% of Firms Establish Headquarters in Hong Kong Out of the 102 companies brought in through the OASES program. Nearly 90% have established regional or international headquarters in Hong Kong. About half are already listed locally, while others are preparing for future listings. Many are launching R&D facilities and pilot projects in fields such as clinical research, AI and blockchain applications. Yam noted that these enterprises are not just investing capital. They are bringing tangible operations and collaborating with local institutions. For instance, several pharmaceutical companies have begun clinical trials in Hong Kong. It is supported by partnerships with universities and hospitals. A Global Vision for the Future The inclusion of Polkadot marks a significant step for Hong Kong and the Web3 industry. As the city works to position itself as Asia’s blockchain capital. Having a major protocol level player like Polkadot on board adds credibility to that mission. Hong Kong’s leadership has made clear that attracting innovative, high impact firms remains a top priority. With blockchain, AI and biotech firms now setting up shop under government backed initiatives. The city’s transformation into a global innovation hub is no longer just a policy goal. It’s becoming a tangible reality.