Chung Wai-cheung, Chairman of the Hong Kong Innovation and Technology Development Association and the Smart Business Committee, served as a judge for this roadshow event. After comparing the creativity and planning of the entrepreneurial teams from Guangdong, Hong Kong and Macao, he offered many suggestions for entrepreneurship in the Greater Bay Area.

Insufficient innovation and incomplete planning

He stated that Hong Kong teams have not done enough in terms of project innovation and lack a complete entrepreneurial plan. "Some Hong Kong teams' creativity lags behind that of the mainland; for example, the idea of electric balance scooters has already been marketized in the mainland." He suggested that Hong Kong entrepreneurs fully leverage their international perspective while also enhancing their understanding of mainland industrial development and market demands, integrating consultations from both sides to create projects that meet the needs of the mainland market and possess outstanding creativity.

When discussing the entrepreneurial atmosphere in the Greater Bay Area, Chung Wai-cheung believes that compared to Hong Kong, other cities in the Greater Bay Area offer entrepreneurs more opportunities to "try and fail." Various innovation and entrepreneurship competitions held in different places allow entrepreneurs to exchange ideas and learn from each other with more professional peers, thereby deepening their understanding of industry development and accumulating experience.

"Currently, entrepreneurs in various cities in the Greater Bay Area have their own advantages, but they have not cooperated fully. The next step for entrepreneurial teams in Guangdong, Hong Kong and Macao should be to try to cooperate more." He suggested that mainland innovation teams could also take the initiative to invite Hong Kong youth to join when forming teams, so as to provide diversified development perspectives through partners from all over the world.

Chung Wai-cheung frankly stated that most of the successful science and technology innovation projects in Hong Kong within the Greater Bay Area are not independently innovative. The talent who filed the patent applications comes from all over the world, and the projects are ultimately commercialized in mainland China by integrating ideas from different regions. "On the one hand, this reflects the advantages of Hong Kong's business model, and on the other hand, it also illustrates the lack of independent innovation capabilities among Hong Kong's local talent," he said.