Surge in Hong Kong start-ups as more young people shun safe career paths
Greater acceptance of entrepreneurship could be key factor in the increase
The number of technology start-ups in Hong Kong increased 24 per cent last year, a government survey found, as more young people embraced entrepreneurship.
InvestHK said the number of start-ups rose from 1,558 in 2015 to 1,926 in 2016, with local ownership increasing from 50 per cent to 62 per cent.
Acting director general of InvestHK Charles Ng Siong-kwong believed that young people, some fresh out of university, were pursuing entrepreneurship rather than taking the safe path of jobs at established firms because it may have become more acceptable to parents, peers and relatives.
“Some big corporations look for entrepreneurship experience when they hire people,” he said.
Overseas and mainland ownership of start-ups in Hong Kong decreased from 43 per cent to 35 per cent in 2016. But Ng was confident that “the pie is growing” and more international start-ups would choose Hong Kong as their destination.