Game Changers: Hong Kong entrepreneurs discuss their keys to success
Cindy Chow, executive director of e-commerce giant Alibaba’s HK$1 billion Hong Kong Entrepreneurs Fund, says businesses need to promote themselves if they want to be chosen.
Opportunities for entrepreneurs in Hong Kong have increased on the back of new funding channels and more savvy use of data resources by businesses, which could help start-ups wean themselves off government support, experts have said.
Speaking at the South China Morning Post’s Game Changers event Building Businesses in a Data-Driven Economy, Cindy Chow, executive director of Alibaba Group’s HK$1 billion Hong Kong Entrepreneurs Fund, said the fund was designed to boost the city’s start-up scene.
Last week, Chow announced the three first companies to receive funding, and suggested other applicants be proactive.
“If they are really serious about getting Alibaba to look into their proposals they should come to us, be more proactive,” Chow said. “If you submit [a proposal] and then sit and wait instead of coming to our workshops and trying to get a card from me then I will be surprised that you just waited.”
Chow said 30 per cent of the more than 200 applicants to the fund were e-commerce start-ups.
The Hong Kong government is increasingly supportive of start-ups as they are seen as means to drive the economy, and has created a dedicated HK$2 billion matching fund to support entrepreneurs.
