Funding Scheme for Youth Entrepreneurship in the Guangdong-Hong Kong-Macao Greater Bay Area

Comprehensive Detailed Description:

Objectives:

• To support Hong Kong young people in starting and developing entrepreneurial projects within the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
• To provide start-up capital, entrepreneurial support, and incubation services to foster youth entrepreneurship.
• To facilitate business networking, market and supply chain development, and professional consultation.
• To assist youth entrepreneurs in settling in entrepreneurial bases in Hong Kong and Mainland GBA cities.

Target Beneficiaries:

• Hong Kong permanent residents aged 18 to 39.
• Individuals who have never received capital funding from the Entrepreneurship Matching Fund or the first round of this funding scheme.
• Applicants/shareholders/partners who are not bankrupt or involved in bankruptcy proceedings.
• Start-ups that are either not yet in operation or have been operating for no more than 3 years.
• Entrepreneurs intending to establish businesses in Hong Kong and/or Mainland cities in the GBA.

Key Features:

• Each start-up may receive a capital subsidy of up to HK$600,000.
• Entrepreneurial projects can last for a maximum of 3 years.
• Services include business networking, market and supply chain development, entrepreneurial guidance, business know-how, and professional consultation.
• Concessionary and facilitative measures are provided for youth start-ups in various cities.
• Assistance is offered for settling in entrepreneurial bases both in Hong Kong and Mainland GBA cities.
• The scheme is implemented through NGOs funded to organize youth entrepreneurial programs and provide incubation services.

Application Process:

• Applicants must meet eligibility criteria as stated.
• The list of funded NGOs under the scheme (2024-27) is available on the Youth Development Commission (YDC) website.
• Interested youth entrepreneurs can approach these NGOs for support and application guidance.

This scheme aims to empower young entrepreneurs by providing comprehensive financial and operational support to enhance their success in the dynamic GBA market environment.