A survey on smartphone apps in Hong Kong conducted by Hong Kong Wireless Technology Industry Association and Hong Kong Productivity Council on 100 local mobile app developers revealed that 95% of the respondents were self-funded when they started from scratch, indicating the industry is creative technology-oriented. Although the Cyberport offers rent concessions to some startups, the industry still expected the government to simplify the funding scheme for startups and provide relevant trainings.
Due to inadequate experience, entrepreneurs of mobile App development companies will face many difficulties such as poor management and constrained resources. Some of these companies will even encounter a bottleneck in the course of their business expansion. For example, they cannot absorb overseas capital and sometimes have to put off orders due to insufficient manpower. The situation reflects that it is a tough road to start up a business, but the industry is yet to be saturated and still in need of manpower.
A survey shows that more than 700 million population across the nation are expected to be cellphone users by 2018, offering a big market pie to the App development market, especially to the developers of Apps in association with education, finance and lifestyle. It is not uncommon to see people accessing mobile apps in the scope of language learning, investment information and accounts keeping in daily life.
As the Oscar-winning actress Natalie Portman said in a Harvard speech that the lack of experience is an asset that allows people to think in unconventional ways, individuals who are keen on this industry are thus advised to join the lineup to explore their potential and thus contribute to the community in a novel way.