Apart from capital and social networks, young people may also need office space or studio to launch their businesses. In recent years, many young entrepreneurs prefer to develop their business in a co-working space. Paying heed to their own needs and budget, young people can choose a suitable one from the many co-working spaces across the territory.
The Space Sharing Scheme for Youth serves as a platform for owners of revitalised industrial buildings and commercial buildings to contribute floor space for the operation of co-working spaces or studios. Under the scheme, the floor space will be either operated by the property owners themselves, or provided to a non-government organisation at a rent of no more than one-third of the prevailing market rent. The operator will then offer co-working spaces or studios at a concessionary rent of no more than half of the comparable market rent to young users.
First batch of participating property owners offered ten properties located in different parts of the city, including Tsuen Wan, Lai Chi Kok, Wong Chuk Hang, Wan Chai and Kwun Tong. They are operated by organisations including the Arts Development Council, Cyberport Management Company, Federation of Hong Kong Indutries, Hong Kong Innovative Education Foundation and Po Leung Kuk.
The Social Innovation Co-working Space Subsidy Scheme (the Scheme) launched by the Social Innovation and Entrepreneurship Development Fund (SIE Fund) in April 2018 aims to provide support to social entrepreneurs and ventures for leasing co-working spaces in Hong Kong to run their social business for supporting poverty relief and social inclusion in Hong Kong. The Scheme was initially implemented on a pilot basis for two years until end of April 2020. Following the completion of a review on the operation and effectiveness of the Scheme, the SIE Fund launched the Enhanced Social Innovation Co-working Space Subsidy Scheme in November 2020 to provide subsidy to social entrepreneurs and ventures for leasing desks or offices in co-working spaces with supporting services where they can co-work, co-make and co-create with their counterparts.