Hong Kong: Alibaba founder and HK chief exec. share recipe for start-up success

Hong Kong Chief Executive, Carrie Lam, and Founder of the Alibaba Group, Jack Ma, gave their encouragement to the participants at the 2017 Jumpstarter Grand Finale in Hong Kong, Tuesday. Ma stressed that «when everything is ready, there is no opportunity for you. You have to move faster before the government takes action. You know if I do this. If the government says, 'Everything is ready', you... Еще should move to the other area.» The Alibaba head also stressed that in the absence of available funds, partial tax reductions could be an effective alternative for the government to support young companies. He noted that «if we can give, like, start-ups three years no tax, or five years 50 percent tax, that will give them at least more time. At least, the government [would be] supporting them.» Jumpstarter Grand Finale is a pitching event for start-up companies in Hong Kong, which offers the best teams an opportunity to kick start their business with an investment of up to US $3 million (€2.5 million).

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