Tycoon Li Ka Shing has made his billions, but invests in innovative tech start-ups because of their "prescient value" - the ability to show what new things will emerge tomorrow.
"We are now in a data-driven, talent-centric economy where the word 'disrupt' has become a movement," said Mr Li, 86.
This movement combines emerging technologies to create new businesses for profit as well as a focused purpose to change the world.
"So the first thing I gather through my exchanges with young founders is to let go of my presumptions and stereotypes and enjoy the awesomeness of their propositions," he told The Sunday Times in an e-mail interview from Hong Kong where he lives.
His Li Ka Shing Foundation and its venture capital partner Horizon Ventures will co-organise a half-day event called Techcracker on Tuesday to discuss disruptive technologies.
It will be held at the National University of Singapore and the other co-organisers are local venture capital firm Vertex Venture Holdings and NUS Enterprise, the university's entrepreneurship arm.
Seven start-ups from the United States, Israel, Canada, England and Switzerland will showcase their technologies, varying from plant-based meat and leather to brain-sensing headbands for managing stress.
Mr Li is the world's 19th richest person, according to Forbes magazine. He has an estimated US$31 billion (S$40 billion) fortune built from established Hong Kong companies like Hutchison Whampoa and Cheung Kong Holdings.
He has also gained from investing in digital upstarts like Facebook, Skype and Summly. The investments were made through Horizon Ventures with funds from his foundation.
According to a Forbes article last March, Horizon and Mr Li have invested US$350 million in different start-ups.
He told The Sunday Times they actively support only 50 start-ups at any given time and he focuses on disruptive tech start-ups with potential to create an impact on industries.
"I often meet very passionate young founders. They are gutsy and dare to see a future that is quite different from the past," he said.
"We need to learn how to be flexible to 'capture' and leverage their energy and find a way to infuse it into our mature operations and markets."
Asked if he saw an Asian Silicon Valley taking shape, he said: "I don't think anyone has a ready answer because it is simply impossible to predict the future.
"Many governments claim to be mobilising resources behind technological and innovative initiatives, but such efforts often get bogged down by bureaucracy and fail even to galvanise their own to embrace innovation."
He quoted early 20th-century French writer and poet Antoine de Saint-Exupery who said: "If you want to build a ship, don't drum up people together to collect wood and don't assign them tasks and work, but rather teach them to long for the endless immensity of the sea."
Mr Li added: "I think this is really the crux of the matter. How do you inspire society to yearn for the sea? When you achieve this, a Silicon Valley can appear anywhere."
He will make a special video broadcast at Techcracker's opening on Tuesday. The guest of honour for the event is Minister in the Prime Minister's Office S. Iswaran, who is also Second Minister for Trade and Industry and Second Minister for Home Affairs.
NUS president Tan Chorh Chuan said Mr Li is a visionary leader and strong supporter of entrepreneurship and the university supports his vision of building a sustainable and responsible future through the creation and adoption of disruptive technologies.
This article was first published on Oct 5, 2014.
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