Hong Kong’s history reveals a strong tradition of entrepreneurship; from a textile, manufacturing and export hub in the 1950s to a services-based economy from the 1970s. This has defined modern Hong Kong, which is supported by the four pillars of tourism, professional and producer services, financial services, as well as trade and logistics. The city is also recognised as the premium gateway to mainland China.

However, the dominance of its core competitive industries is no guarantee of its future success, in particular with the emergence of the New Economy.

To understand the current development of the city’s entrepreneurial landscape, KPMG China and Alibaba Hong Kong Entrepreneurs Fund jointly launched Transforming Hong Kong Through Entrepreneurship. The study assesses the impact entrepreneurship is having on the economy and society as well as identify the key gaps in the start-up ecosystem in order to drive the ongoing development of Hong Kong’s New Economy. 

The study was based on the findings of two surveys and a series of interviews with key industry stakeholders in Hong Kong. It targeted start-up entrepreneurs, Key Opinion Leaders (KOLs) and future business leaders to answer four critical questions:

1. What are the defining factors driving entrepreneurship?
2. What mindset is required for entrepreneurship?
3. How is Hong Kong perceived as a start-up destination?
4. How is Hong Kong’s entrepreneur ecosystem capitalising the Greater Bay Area?

Refer to the report for more analysis and insights.