The start-up ecosystem in Hong Kong is no doubt burgeoning. Findings of a survey1 released by InvestHK show a 16% increase in start-ups and a 21% gain in start-up jobs in 2017 compared to 2016.
Today, there are 2,300 start-up companies creating over 6,300 job opportunities. As for start-up funding activities, Hong Kong crossed US$1 billion in 2016, growing 11 times from 2012 2.
For start-ups striving to grow into billion-US dollar unicorn or even 10 billion-US dollar decacorn companies, the need for a firm footing is not to be overlooked. They should have in their pockets not only seed capitals and latest market information, but also business ethics-savvy systems to help guard against corruption which could hinder their success.
To help start-ups in Hong Kong develop sound anti-corruption systems right from the beginning, the Hong Kong Business Ethics Development Centre (HKBEDC) of the ICAC has devised a tailor-made programme for these companies as well as small and medium enterprises (SMEs).
Cyberport, Hong Kong Science and Technology Parks, and Hong Kong Design Centre are not foreign to those who are familiar with the local start-up scene. They are some of the major connectors offering government funding and incubation programmes to nurture start-up businesses. In collaboration with these major connectors, the HKBEDC is promoting business ethics and putting anti-corruption messages across through their incubation programmes.
In the past few months, the HKBEDC had reached out to the city’s start-up firms through major connectors. At briefings, talks and networking sessions, preventive education services of the HKBEDC were introduced to over 250 start-up founders – including grantees and incubatees of incubation programmes of Cyberport and Hong Kong Design Centre.
Apart from traditional face-to-face contacts, the HKBEDC is also expanding its online outreach to start-ups and SMEs through major connectors and SME trade associations. A series of online-articles "Starting-Up Right!" Tips for Achieving Business Excellence covering corruption risks and preventive tips in relation to fund seeking, licence application, dealing with public officials and handling proprietary information will be launched starting from June.
Later this year, the HKBEDC will also launch a "Starting-Up Right!" Corruption Prevention Kit for Start-ups & SMEs, introducing to them Hong Kong’s anti-corruption laws, common corruption risks in daily operation, and the importance of conducting business in an ethical manner. In the meantime, start-ups and SMEs are welcome to contact the HKBEDC at (852) 2587-9812 or hkbedc@crd.icac.org.hk for its full range of consultancy services on ethical management.
1. InvestHK’s latest Startup Profiling Survey.
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