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Youth Entrepreneurship Funding Scheme reaches HK$130 Million

Speaking at the launching ceremony of the "Alliance of Hong Kong Youth Innovation and Entrepreneurship Base in the Greater Bay Area", the Chief Secretary for Administration, Mr. Chan Kwok-kee, said that under the Guangdong-Hong Kong-Macao Greater Bay Area Youth Entrepreneurship Funding Scheme (GD-HK-MYEFS), a total of about HK$130 million had been granted so far, and more than 200 young entrepreneurial teams had been successfully recruited to receive capital grants and entrepreneurial support.

He also pointed out that many teams had successfully settled in the youth innovation and entrepreneurship bases in the Mainland cities in the Greater Bay Area. Apart from the support from the HKSAR Government and various sectors, they have also benefited from different aspects of entrepreneurial support and facilitation arrangements there.

Mr. Chan Kwok-kei said that in order to strengthen the cohesion of official and civil forces in the Mainland and Hong Kong, and to support Hong Kong's entrepreneurial youth to pursue and realize their dreams, the SAR Government has proposed to set up the "Alliance of Hong Kong Youth Innovative and Entrepreneurial Bases in the Greater Pearl River Delta (GPRD)". He said he was aware that the alliance had gained enthusiastic participation from close to 60 organizations from different sectors in the Greater Bay Area, including official and public organizations, innovation and entrepreneurship bases, non-governmental organizations and social groups, tertiary institutions and scientific research units.

He pointed out that the alliance will pool the resources and networks of its members to maximize the effect of "one plus one is better than two", providing comprehensive support to young entrepreneurs, helping them to expand their networks and enhance their competitiveness in the Greater Bay Area.

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