One of Hong Kong’s enduring puzzles has been how the city managed to miss Asia’s tech boom for so long.
Situated next door to the world’s fastest-growing market and boasting Asia’s leading financial centre, Hong Kong hosts a multilateral business community and several good universities. And yet in terms of homegrown technology start-ups, the city’s performance has been anaemic.
“I will be honest. I am a Hong Kong local. We have lost 20 years,” says Albert Wong, chief executive of the Hong Kong Science and Technology Parks Corporation. “We have never been putting so much emphasis . . . on research and development and, to be honest, I think it will take a generation to fix it.”
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