The Alibaba founder spoke to Hong Kong entrepreneurs at the inaugural Jumpstarter pitch competition. Here are five things we learned
Three Hong Kong entrepreneurs walked away with a total of US$3 million in funding on Tuesday evening at the inaugural Jumpstarter, a pitch competition for startups organised by the Alibaba Entrepreneurs Fund.
The chosen three were selected from close to 600 entrants, with each winning up to US$1 million from the not-for-profit initiative, which has also invested in startups from several Generation T listers in the last year, including Luke Grana’s e-commerce platform Grana, Danny Yeung’s genetics testing firm Prenetics and logistics unicorn GoGoVan, co-founded by Gen.T listers Steven Lam and Reeve Kwan.
After the final round of pitches, Chief Executive Carrie Lam and Alibaba founder Jack Ma sat down with SCMP Business Editor Eugene Tang to discuss the topic ‘energising the future’.
Ma was his usual effervescent self during the talk, with a number of things to say on Hong Kong, entrepreneurship and the lessons he’s learnt building an empire. Here are five things we took away from the evening.
Hong Kong’s proposed tax incentives will help startups, but entrepreneurs shouldn't wait for things to be handed to them
“I say to governments, if you can’t give [public] money to startups, why don’t you reduce the tax for them! This is what Hong Kong is doing–and I think it will help a lot.”
“As an entrepreneur, my tip is don’t wait for the environment to be ready. Don’t wait for all the policies to be ready. When everything is ready, there’ll be no opportunity for you. You have to move fast before the government takes action. If the government says everything is ready, you should move to another area."