Hong Kong needs a risk-taking culture to foster innovation, tech leaders urge
- Efforts to establish that culture have taken on more significance amid competition for talent, capital and start-ups with other hi-tech hubs
Hong Kong’s risk-averse attitude must change to foster more successful hi-tech entrepreneurs and start-ups, local industry leaders urged, as the city struggles to build its own innovation and technology ecosystem that could rival those of other major cities in Asia.
A risk-taking culture needs to take root in the city, which would help young entrepreneurs expand their horizons and not be afraid to fail, as they sharpen their efforts to develop new businesses in the hi-tech field, according to panellists at the latest edition of the “Redefining Hong Kong” series organised by the South China Morning Post on Thursday.
As an example of Hong Kong’s risk-averse attitude, Chu said her local team turned down an opportunity to relocate to Shanghai in 2016, as DayDayCook expanded its operations in the world’s second largest economy.