Seminar on the $50-billion Budget proposal for Innovation and Technology

The seminar entitled “Seminar on the $50-billion Budget proposal for I&T (預算案500億：如何幫助IT人？)” was organized by Hon. Charles Mok (Legislative Council Member (IT Functional Constituency)) on 10 April 2018.  The seminar aimed to discuss the development of Innovation and Technology in Hong Kong using this $50-billion Budget and collecting IT industrial opinions.

Before the seminar, all speakers took a group photo.

First, Mr. Charles Mok briefed the background of the $50-billion Budget which aimed to assist for Innovation and Technology development in Hong Kong in which $20 billion for using on the first phase of the Hong Kong-Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop for, site formation, infrastructure, superstructure and initial operation; $10 billion into the Innovation and Technology Fund (ITF); $10 billion to support the establishment of two Technology Research Clusters on healthcare technologies and on artificial intelligence and robotics technologies; $10 billion is allocated to HKSTP to reinforce the role of the Science Park as Hong Kong's flagship technology infrastructure.

The first speaker was Mr. Jacob Wai (亞洲金融風險智庫研究總監　韋達人先生) and he discussed the lack of human resource for Fintech.  The missing layer was 3 to 5-year experience IT Professionals.  Therefore, outsourcing the process and those jobs were not return.  Since not enough IT professionals, most team only 2 to 3 people that developed mobile apps. Mr. Wai added the next stage was to promote to society and lets adopt IT if enough IT professionals.  We needed digital strategy he said.

The second speaker was Mr. Wilson Yuen (天開數碼媒體有限公司創辦人及行政總裁　袁耀輝先生) and he discussed the definition of I&T Professionals.  He said $50-billion might be only owned one unicorn. We needed to think how to training IT talents.  He shared that it was difficult to employ IT talents and also difficult to retain them.  He raise an example that most MPhil and PhD graduates were from mainland but they were not stayed in Hong Kong any more but return to China. So he recruited them during their R&D study and then established a company in Beijing to employ them again after they graduated.  He also commented the ITF that cooperated with university 50:50 was easy and faster than ESS.  However, University needed to change their mindset to change from professors applied funding to give funding to professors if they became entrepreneur as Singapore.

The third speaker was Mr. Keith Li (Innopage 創辦人　李勁華先生) who was Cyberport incubation graduate and HKSTP tenant.  He said the best student selected computer science in the past but after 2000, 911 and SARS, the large gap appeared.  Until smart phone wave coming, the gap enlarge seriously.  He mentioned that $50-billion Budget was mainly focused on infrastructure.

We needed government policy to let innovation to be manageable and legal such as Uber and Airbnb, as well as, ICO.  In Japan and USA, they would rule and control this new business under legislation.  In the past, most student selected IT because of high salary and good future.  It depended on how many international top ranked IT company moved their headcounter in Hong Kong.

Q&A session:

Mr. Charles Mok added our government had only work plan for 2 to 3 years but missing blueprint (e.g. 10 year).  He also mentioned our DSE affected STEM study and he suggested to back to integrated science included Physics, Chemistry and Biology.  Human Resource Policy should be established he said such as Singapore trained 500 data scientist per year for AI era. 

One of participants asked what is different between Cyberport and Science Park for incubation program / tenant.  Ir. Peter Yeung (Senior Director, HKSTP) was invited to introduce Science Park tenant requirement (such as 50% R&D activities) to the participants.

Then we discussed the funding that separated into Smart Money and Dump Money.  Startup needed smart money rather than just money.  Some participants suggested to enhance education for business to IT guy and vice versa. 

Mr. Charles Mok said he heard from Singaporean said HK to be gateway to China but Singapore was Asia hub.  He said why HK not to be both?

At the end, each speaker concluded the talk in one statement as follows:

Mr. Charles Mok said I&T blueprint was very important.

Mr. Keith Li said policy and strategy for I&T was significant.

Mr. Wilson Yuen asked us to unify and cooperated with each other.

Mr. Jacob Wai asked us to think about how government could employ more local technology products.  Once the demand increased, supply would follow it.

Reference:

20150313: ICT Seminar for Innovation and Technology Development - https://qualityalchemist.blogspot.hk/2015/03/ict-seminar-for-innovation-and.html