For years, Hong Kong has been telling a clear story about its future. Innovation. Technology. Startups. Integration into the Guangdong-Hong Kong-Macao Greater Bay Area. From policy blueprints to public investment, the direction is consistent: Entrepreneurship is no longer peripheral — it is central to the city’s economic positioning.
Significant progress has been made in building this ecosystem. And yet, on the ground, an interesting gap remains.
A survey I recently led, in collaboration with the Innovative Incubation Centre at Saint Francis University, produced a result that should give both policymakers and parents something to reflect on: 80 percent of Hong Kong university students say they are interested in starting a business. That sounds like a success story. In many ways, it is.
But when the same group is asked what they would actually do, the numbers shift. Only 48 percent would consider working in a startup. Just 35 percent believe such a career carries social recognition. And 95 percent point to one factor shaping their decision above all others — family expectations.
Hong Kong does not lack ambition. What this suggests is a gap between aspiration and action.
For a city that prides itself on entrepreneurial instinct, this is not a weakness, but an opportunity to better align talent, expectations and support systems.
For years, the policy conversation has focused on building capacity. Funding programs, incubation programs and cross-border initiatives in the Greater Bay Area have expanded steadily. Universities, including my own, have strengthened entrepreneurship education, offering students exposure to startup thinking, mentorship and practical training. These efforts have laid an important foundation.
At the same time, the findings suggest that the decision to pursue entrepreneurship is shaped not only by opportunity, but also by perception.
When 95 percent of students identify family expectations as a key consideration, it highlights the role of social context. In many households, the definition of success remains stable and predictable. A reputable employer, a steady income, and a clear career path continue to carry strong appeal.
Entrepreneurship, by contrast, is still often associated with uncertainty. Not just financially, but socially. This influences how young people evaluate their options.
Hong Kong has already made substantial investments in building a vibrant innovation ecosystem. The next step is to ensure that this ecosystem is not only well resourced but also widely understood, accessible, and aligned with the aspirations of its next generation
Another notable finding is that around 85 percent of respondents believe early career failure carries a high cost. In more mature startup ecosystems, failure is often viewed as part of the learning process. In Hong Kong, it is more likely to be seen as something to be corrected quickly. This difference in perception naturally shapes behavior. Under such conditions, a more-cautious approach is understandable.
The findings also offer insight into how existing support can be further strengthened. Despite a wide range of government-backed initiatives, more than 80 percent of students say accessing these programs is not straightforward. In addition, 93 percent indicate that such support does not significantly influence their career decisions. This does not diminish the value of these initiatives. Rather, it highlights an opportunity to enhance awareness, accessibility and relevance, particularly at the point when students are making career choices.
A similar pattern appears in attitudes toward the Greater Bay Area. From a policy perspective, the region presents significant opportunities in terms of scale and market access. From a student perspective, however, these opportunities can feel distant without clear pathways and guidance. Bridging this gap could further strengthen Hong Kong’s role as a connector between local talent and regional development.
So what might help move things forward?
First, universities can continue to expand experiential learning. Beyond classroom teaching, structured opportunities to test ideas, build prototypes and gain practical exposure can help students develop confidence in a low-risk environment.
Second, there is value in broadening the narrative around entrepreneurship. While high-profile success stories are important, more relatable examples of gradual growth, small ventures and learning through experience can make the path feel more accessible.
Third, continued refinement of support platforms can make a meaningful difference. Simplifying access, improving clarity and offering more tailored guidance can help ensure that existing resources are fully utilized.
Fourth, cross-boundary opportunities can be further translated into actionable steps. Clearer information on market entry, funding channels and regulatory considerations would help students better understand how to engage with the Greater Bay Area.
Finally, fostering a more-balanced understanding of risk will take time, but remains important. Families, educators and institutions all play a role in shaping how entrepreneurship is perceived.
None of this suggests that every student should become an entrepreneur. A healthy economy depends on a diversity of career paths, and stability will always have its place. But when such a large proportion of young people express interest in entrepreneurship, there is clear potential to be further unlocked.
Hong Kong has already made substantial investments in building a vibrant innovation ecosystem. The next step is to ensure that this ecosystem is not only well resourced but also widely understood, accessible, and aligned with the aspirations of its next generation.
The interest is there. The foundation is in place. The opportunity now lies in turning that interest into action.
The author is chairman of the Asia MarTech Society and sits on the advisory boards of several professional organizations, including two universities.
The views do not necessarily reflect those of China Daily.