“ We want you!” Hong Kong promotes the Technology Talent Admission Scheme

2018-05-09

As major governments continue to increase investment in blockchain research, demand for talent in technology and innovation sector will continue to grow.

Due to the geographic advantage, Hong Kong is not only seen as an important hub in promoting the development of Asian blockchains, but also as a catalyst for the development of blockchain technology across South Asia. This has made Hong Kong's blockchain promotion a focus of attention.

On May 8, Hong Kong Special Administrative Region government launched its pilot basis for three years technology talent admission scheme( hereinafter referred to as “the scheme” ). In order to implement rapid processing arrangements for the importation of scientific manpower from both overseas and mainland China, qualified personnel with a master or doctor degree do not need any work experience, and the work visa approval can be completed in two weeks and a maximum of 1,000 people will be admitted in the first year. It is expected to start in June 2018!

Zhuo Yongxing, the permanent secretary general of the Hong Kong SAR Government's Innovation and Technology Bureau, pointed out that the existing threshold for 'excellent talent entry plans' is very high, and therefore it is not comparable to the program launched this time.

In Hong Kong, there are hundreds of university graduates studying science and technology-related disciplines every year. However, the relevant technologies and experience do not meet the requirements of technology companies. Therefore, talents must be recruited in other places.

However, the problem has arisen. From interviewing to applying for a work visa, it takes about two months for foreign professionals to work in Hong Kong. Some of them even lasted for more than four months. The uncertainties that occurred during this period were very large and excellent talents were very popular all over the world. Therefore, the faster the approval time is better.

Yang Quansheng, president of the Hong Kong Smart City Alliance, said that many people said that the plan was very much welcomed. The first reaction was to pay attention to specific details and hoped that the approval process would be simple and transparent. There are currently tens of thousands people in technology industry, but the talent shortage still exists. Some companies have therefore moved their projects to other locations. He hopes that the SAR government will also increase resource and assist local practitioners, thinking that the program may consider expanding after its trial.

The scheme will be firstly open to tenants and incubators engaged in biotechnology, artificial intelligence, cyber security, robotics, data analysis, financial technology and material science at Hong Kong Science Park and Cyber Port. Technology companies or organizations submitting applications must prove to the Innovation & Technology Commission that Hong Kong lacks or cannot easily obtain relevant talents to protect the employment opportunities of local people. Companies or Institutions that have successfully applied can obtain a quota of no more than 100 people each year.

Futhermore, the persons who admitted to the scheme must obtain the STEM ( science, technology, engineering and mathematics ) degrees from well-known universities, for example, the Top 100 universities in the latest published of QS World University Ranking, the Times Higher Education World University Ranking and Academic Ranking of World University. In addition, work experience is not compulsory for the personnel with postgraduate degree and above, while those who have undergraduate degree must have at least one year work experience in related field.

For those people who are worried that the scheme will steal job opportunities from local people, Yang said the scheme will help to nurture local talents as it requires its applicant organizations have to employ one full-time local employee and two local interns for three non-local new recruits.

Hong Kong, as the sensation of global financial, has experienced a enhanced entrepreneurial atmosphere in recent years. With its free marketing policies, financial and logistic advantages, Hong Kong has great potential to become the worldwide blockchain center. Come, time and tide wait for no man!

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