Greater Bay Area - Youth Innovation and Entrepreneurship
Guangdong-Hong Kong-Macao Greater Bay Area
The Guangdong-Hong Kong-Macao Greater Bay Area (GBA) comprises the two Special Administrative Regions of Hong Kong and Macao, and the nine municipalities of Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing in Guangdong Province. The GBA brings invaluable new development opportunities to different sectors of the community, especially young people, in Hong Kong. Hong Kong young people who wish to pursue development in the GBA may refer to the Greater Bay Area Outline Development Plan.
The Government has all along been supportive of youth innovation and entrepreneurship. The development of the GBA will bring about opportunities for our young entrepreneurs. There has been rapid development of youth entrepreneurial bases in the GBA in recent years, providing massive hardware and software support to innovative and entrepreneurial activities. Besides enjoying the concessionary policy initiatives introduced by various municipal governments in the GBA, Hong Kong young people who have successfully established a foothold can also benefit from the incubation and guidance services offered by the entrepreneurial bases in which they have established. These help reduce entrepreneurial risks.
Youth Development Fund
To further support youth entrepreneurship and facilitate young people to grasp the opportunities brought about by the development of the GBA, the Youth Development Commission has rolled out two funding schemes under the Youth Development Fund i.e. “the Funding Scheme for Youth Entrepreneurship in the Guangdong-Hong Kong-Macao Greater Bay Area (Entrepreneurship Scheme)” and “the Funding Scheme for Experiential Programmes at Innovation and Entrepreneurial Bases in the Guangdong-Hong Kong-Macao Greater Bay Area (Experiential Scheme)".
The Entrepreneurship Scheme will subsidise 16 non-government organisations (NGOs) to organise youth entrepreneurship projects, under which a capital subsidy of up to $600,000 will be provided to selected youth entrepreneurs to meet their initial capital needs. The funded organisations will offer deeper, broader, more specific and sustainable entrepreneurial support and incubation services for young people, including helping them settle in youth innovative and entrepreneurship bases in the GBA. Moreover, as an enhancement measure promulgated by the Chief Executive's 2020 Policy Address, the funded organisations will strengthen their entrepreneurial support for start-ups in terms of corporate governance, adaptability and digital competence.
As for the Experiential Scheme, 15 NGOs will be subsidised to organise short-term experiential projects at entrepreneurial bases in Mainland GBA cities, with a view to enhancing Hong Kong young people's understanding of the entrepreneurial bases in Mainland GBA cities as well as the relevant policies and supporting measures on innovation and entrepreneurship in the Mainland. This will in turn assist them in considering their plans of settling in the relevant entrepreneurial bases and starting businesses therein in the future.
For applications for or enquiries about the funded youth entrepreneurship / experiential projects, please refer to the thematic website “We Venture”.