Hong Kong is hoping to become even more attractive as a hub of innovation for overseas talent, based on its strategic location at the heart of Asia and as the gateway to the Chinese mainland.

In Chief Executive Leung Chunying's policy address last week, he extended an invitation to talent outside of Hong Kong with a series of proposals that relax the restrictions on employment and residency.

"What we want to attract is talent, not just capital," he said.

Lital Isaacs is an expat who highly values the location of Hong Kong for its easy access to the Asian market. Originally from Israel, a country known for its innovation, Isaacs, 37, chose to start her genetic testing company DrGene in Hong Kong in early 2014.

"Hong Kong is the ideal location for our headquarters because it is an advanced territory with a friendly business atmosphere and accessibility to all of our target markets," Isaacs told China Daily.

But 28-year-old Arthur Hayes from the United States was attracted by Hong Kong's tolerance for new innovations in terms of regulations. Hayes, who runs a bitcoin exchange platform, told Bloomberg News the regulatory environment was the top concern when he thought about locating his business.

In the end, however, the laissez-faire approach that Hong Kong's regulators adopt on the issue of cryp-to-currency managed to keep Hayes in the territory.

Apart from the established entrepreneurs, Hong Kong appeals to the overseas young talent pool with some of the best universities in Asia, and further nurtures their entrepreneurial spirit.

Hong Kong University of Science and Technology, for instance, receives thousands of overseas applications each year.

"While committed to excellence in teaching and research, HKUST encourages the can-do and entrepreneurial spirit, and provides a conducive environment for its development," said Donny Siu, adviser in the Entrepreneurship Center at HKUST.

Hoang Long, 22, a computer science student at the university, said he is tempted to start his own company in Hong Kong after graduation.

Hoang grew up in Germany, where he tried starting up his company. However, he found that the country was not friendly enough for a small startup. Thus, Hoang came to the innovation hub of Asia to pursue his dream.

(China Daily 01/28/2015 page5)