Israeli start-ups teach Hong Kong's would-be entrepreneurs a thing or two

Even with only eight million people in an area that's two-thirds the size of Taiwan, Israel has 3,800 start-ups - that's one for every 2,000 people.

In fact, Israel has more companies listed on Nasdaq than all of Europe. With many hugely successful technology companies in the country, it's been dubbed "the start-up nation" by tech pundits.

Fifty university and secondary students from Hong Kong got the chance to see firsthand the secrets to Israeli entrepreneurial success in January, thanks to a six-day trip co-organised by the Technion (Israel Institute of Technology) and Li Ka Shing Foundation.

Leading the trip - dubbed the Techcracker Lab - was Solina Chau Hoi-shuen, director of the Li Ka Shing Foundation and founder of Horizons Ventures, which has invested in 27 Israeli start-ups.

Chau says creativity is a way of life in Israel - something she noticed in the past two years during regular visits.

"Every time I talk with start-ups there, I learn a lot. When they make their pitches, each company only gets eight to 10 minutes, so they need to give me the essence [of their invention and development plan] to arouse my interest," Chau says, adding that Israelis tend to be more open to constructive criticism and challenges than Chinese. "They'll say, 'I can't address your queries today, but I will improve my pitch and get back to you.'"