WE Venture – The Guangdong-Hong Kong-Macao Greater Bay Area Young Entrepreneurship program
The aim of the program is to provide Hong Kong young entrepreneurs with an understanding of the business environment in the Greater Bay Area, to provide them with practical entrepreneurial support, and to help them meet their initial capital needs. The whole program consists of two parts. 1) entrepreneurial support and incubation services 2) select potential startups projects and support them with initial capital.
Our program welcomes all young entrepreneurs who are interested to apply and plan to start their business in Guangzhou Tianhe Region. The main advantage for this location is its similarity to Hong Kong’s culture and language used. The program will be supported by Guangzhou Tianhe District Hong Kong and Macao Youth Association which is founded by a group of experienced Hong Kong Entrepreneurs in Guangzhou. They have in-depth knowledge of the business environment in China, who truly understand the needs and how to support Hong Kong Entrepreneurs. The mission of this program is to attract talents who are interested in the Greater Bay Area and help young entrepreneurs in Hong Kong to seize the big opportunities ahead.
Entrepreneurial Base Partner:
Headquarters of Guangzhou Tianhe Hong Kong and Macau Youth Association
Guangzhou Tianhe Hong Kong and Macau Youth Association – “ATLAS”
Guangzhou Tianhe Hong Kong and Macau Youth Association – “TIMETABLE”
Guangzhou Tianhe Hong Kong and Macau Youth Association – “Chirk Up Coworking”
Guangzhou Tianhe Hong Kong and Macau Youth Association – “Collaboration Workspace – Professional Creation”
Maximum amount on capital subsidy for each selected team: HK$600,000 The capital subsidy will be dispatched in phrases upon the completion of milestones set in business proposal.
Application eligibility for enterprise:
-Aged between 18 and 40;
-Holder of Hong Kong Permanent Identity Card;
-Young Entrepreneurship Applicants should have their businesses plans/ideas in Hong Kong and/or Mainland cities of the Greater Bay Area within one year. Or the Young Entrepreneurship Applicants should have run their business not more than three years;
-At the time of application, Young Entrepreneurship Applicants must not be subject to any bankruptcy order or proceeding;
-The proposed entrepreneurship project should not have received funding from the first round “Entrepreneurship matching fund” under the Youth Development Fund (YDF);
-Applicants and the proposed entrepreneurship project should not be receiving funding and incubation services from other NGOs under YDF’s sponsorship;
-The proposed entrepreneurship project should have no restrictions on the industries of start-up business of Young Entrepreneurship Applicants, but businesses which are unlawful or illegal or involving tobacco, advocating of gambling and obscenity, etc. shall not be supported;
-Start-ups should conduct business registration in Hong Kong and carry on its business in Hong Kong and/or Mainland cities of the Greater Bay Area (such as the entrepreneurial bases therein);
-Any start-ups, which have yet completed the business registration process, shall complete the business registration process pursuant to the Business Registration Ordinance once successfully selected,
-If the application is submitted by Young Entrepreneurship Applicant in form of partnership or limited company, all partners or shareholders must comply with the above requirements.
Entrepreneurial Support and Incubation Services:
HKGCYE will provide a number of entrepreneurial support and incubation services for the participants; including Entrepreneurship Mentoring, Networking Activities, Tour to Guangzhou and Design Thinking Workshops.
In the Entrepreneurship Mentorship Program, we will invite experienced entrepreneurs and industry experts in the Greater Bay Area to become mentors and share their valuable experience in doing the business. Also, they will provide substantive advice to young people who are about to start a business in the Greater Bay Area.
At the same time, regular networking events will be held and young entrepreneurs could establish valuable business connections. HKGCYE will hold no less than twelve entrepreneurial mentorship and networking activities for young entrepreneurs in the program.
HKGCYE will also organise one group tour to Guangzhou. The aims are to give entrepreneurs a first-hand understanding of the environment, facilities and other support for entrepreneurship in Guangzhou. The itinerary includes but not limited to: visiting the headquarter of Guangzhou Tianhe District Hong Kong and Macao Youth Association, visiting various Incubation bases, an Entrepreneurship Summit, and a Symposium with sharing from Hong Kong youth entrepreneurs on starting a business in the Greater Bay Area.
It is inevitable that young entrepreneurs from Hong Kong will encounter various problems in different fields while starting a business in the Greater Bay Area. HKGCYE will provide participants with at least 24 free professional consulting sessions, including but not limited to: legal, accounting, policy consulting services, business establishment consultation and landing support services, etc. in the form of face-to-face consultation, email and telephone consultation.
HKGCYE will also provide participants with at least 10-12 entrepreneurship courses on basic entrepreneurial knowledge and experience sharing for startups (10-12 courses, each course lasts for 3-4 hours). The content covers the following: business establishment and introduction to accounting (routine accounting and auditing instructions), understanding the market and your consumers (market research), attract fund investors (pitching to investors), basic business laws and intellectual property rights, social media marketing and promotion, (making good use of online influencers and platform tools), corporate management and recruitment of start-ups, etc. We will also organize at least three workshops on Design Thinking for participates to well design and organise their strategic business plan.
Innovativeness of Solution (Products or Services) 20%
Market Landscape and Current Operating Conditions 20%
Commercial Viability 35%
Background of Team Formation 25%
Upon receiving application, HKGCYE will make a preliminary selection, and invite the teams who have passed the preliminary selection to conduct a roadshow on the entrepreneurial competition day. Winning teams will be selected in the competition.
Application Deadline: 20 June, 2021
Sponsorship Organization: East Union Foundation
Entrepreneurship Training Partner: Hong Kong Baptist University
Enquiry Email: [email protected]
Enquiry Number: +852 6361 4930
For more details on WE Venture, please refer to: www.weventure.gov.hk