Let's attract global talent by remaining open to ideas

The head of Chinese University of Hong Kong, Dennis Lo Yuk-ming, has a point when he says Hong Kong is in the middle of a "golden time" for innovation and technology.

Yes, the city has got money, talent and a rather unique spot on the world map.

As a matter of fact, Hong Kong is blessed with some truly amazing scientists who have helped solve some of the world's most difficult problems.

The CUHK president himself is a pioneer in non-invasive prenatal testing, innovating a method testing a baby's health by just checking a mother's blood.

Lo is a genius.

Then, there is the virus hunter at the University of Hong Kong, Yuen Kwok-yung, whose contribution to cracking the SARS epidemic in 2003 and the Covid-19 during the deadly pandemic over the past several years helped the city stay ahead in the fight against the mysterious diseases.

Also, Hongkongers must not forget Nancy Ip Yuk-yu, the president of Hong Kong University of Science and Technology, or Tsui Lap-chee, the former HKU head.

Ip has unlocked secrets of the brain in the fight against the Alzheimer's disease and others, while Tsui has discovered a key gene behind cystic fibrosis. These scientists are not just smart - they have changed lives.

Lo is aware of the recipe that Hong Kong already has for raising scientists.

The recipe includes top schools like the CUHK, HKU and HKUST, equipped with big labs and great minds. There is also a steady growth in funding from just tens of thousands of dollars as Lo recalled when he returned here 28 years ago to hundreds of millions per project under InnoHK nowadays.

Further to that, Chief Executive John Lee Ka-chiu said at the founding of the International Alliance of Academicians that a HK$3 billion scheme will soon be launched to support local academic and scientific research to facilitate Hong Kong's transformation into a global innovation and technology hub.

In light of all these, Lo was right to attribute the "golden time" to a perfect mix of "timing, location and people."

Yet, the tricky bits are that Hong Kong also suffers from a brain drain as some of its young and brilliant minds leave for other destinations due to various reasons at a time when the city is striving to retain and attract global talent.

The SAR is investing a lot in I&T and working hard to recruit talented people. So are Singapore and our good neighbor Shenzhen. China has also surpassed the US to be the largest producer of research publications.

After all the upbeat talk, before decision-makers is also a multi-billion-dollar question: does the recipe guarantee success?

Lo's hopes are not unfounded.

After all, Hong Kong has the universities, money and a history of achievements.

Perhaps, the SAR may also enrich the recipe with a determination to hold onto its existing pool of talent and, no less crucially, keep itself open to ideas. Then, it would see more names like Lo, Yuen, Tsui and Ip.