Young people in Hong Kong are keen to start their own business or work for startups. This was derived from a survey conducted by InvestHK, which revealed the growth of startups from 1,558 in 2015 to 1,926 in 2016.
Young people, especially fresh university graduates, were found to prefer pursing entrepreneurship instead of taking up jobs at established firms. This might be due to the fact that this trend is now more widely accepted by parents, peers and relatives, said Charles Ng Siong-kwong, Acting Director at InvestHK, in a report by the South China Morning Post.
Even though the number of startups in Hong Kong decreased from 43 percent to 35 percent in 2016, Ng believed that "Hong Kong will continue to be a [startup] magnet".
The number of employees in startup companies rose from 3,721 in 2015 to 5,229 in 2016. New technology sectors - such as social innovation, smart city, biotechnology, retail technology and robotics - are believed to have contributed to that increase.
Ng also said that having entrepreneurial skills are vital as "some big corporations look for candidates with [such] skills."
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