Hong Kong’s budding entrepreneurial spirits were applauded for their innovative ideas tapping the ongoing artificial intelligence transformation at the awards ceremony of a citywide business case competition.
The awards ceremony, which took place on Dec 8 and attracted a 300-strong crowd, drew down the curtain on the LEAD to the Future – Business Case Competition 2024 which was co-organized by JCI Island, GBA Youth Innovation and Entrepreneurship Foundation, and Hong Kong Island Youth United Association. In all, 275 teams took part, formed by over 1,300 Hong Kong tertiary students.
Steered by the desire to cultivate a future-ready workforce capable of riding the wave of rapid technological development, the competition asked participating teams to present original strategic development proposals for designated business cases, with due incorporation of AI technology as a key requirement.
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To prevent work from being replaced by technology, the global workforce needs to re-skill critical skills, with the top three proposed by the World Economic Forum as “analytical thinking”, “creative thinking”, and “AI and big data”, highlighted on the competition’s official introduction page as its driving inspiration for this year’s edition.
“We hope students can use this opportunity to enhance their creativity, professional knowledge, and abilities for better growth and success,” said Jacky Tsang, president of JCI Island.
The teams were also expected to compile their proposal against the backdrop of the Guangdong-Hong Kong-Macao Greater Bay Area, an emerging regional innovation and technology hub that boasts an array of development opportunities for enterprises spanning various fields.
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Officiating at the ceremony, Secretary for Home and Youth Affairs Alice Mak Mei-kuen encouraged young students to seize opportunities to integrate into the country’s overall development and fully translate their entrepreneurial aspirations into tangible outcomes with innovative ideas.
The Hong Kong Special Administrative Region government has long been charging full steam ahead to support youth entrepreneurship, especially that poised to leverage the advantages of the GBA.
Earlier this month, a batch of non-governmental organizations funded under the new round of Funding Scheme for Youth Entrepreneurship in the GBA (2024-27) and Funding Scheme for Experiential Programmes at Innovation and Entrepreneurial Bases (2024-27) were announced.
The two schemes were rolled out by the Youth Development Commission in 2019.
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One team from the Chinese University of Hong Kong (CUHK) and another comprised of members from both CUHK and the University of Hong Kong respectively clinched championships for the Hong Kong and China Gas Company Limited case division and that of Winson Holdings Limited, two sponsors of the competition together with the China Merchants Youth.
Following the award presentation, in-depth dialogue sessions were arranged for the finalists with expert judges and mentors.
Members of both champion teams expressed ample appreciation for this valuable experience, attributing their success to the professional guidance from mentors and collaborative efforts among team members.
As an additional enabler for students to maintain contact and gain peer support along their future pursuits, a plan to establish the LEAD to the Future Alliance was unveiled by the project organizing committee at the ceremony.
