Hong Kong startups have the chance to win a subsidy of up to 600,000 Hong Kong dollars (US$77,105) through a two-year entrepreneurship program jointly launched by the Y.Elites Association (YEA) and the Qianhai authority on July 27.

The program will provide participating teams with supports for starting up a business and incubation services.

According to He Peilin, director of the Innovation Technology Research Association of YEA and initiator of the “Innovative Elite Qianhai” program, the program aims to create a diversified interpersonal network for Hong Kong entrepreneurs, provide them with information and guidance concerning starting up a business, and help them tap the Guangdong-Hong Kong-Macao Greater Bay Area market.

Entrepreneurial projects participating in the program will also participate in the Hong Kong division of the Qianhai Guangdong-Hong Kong-Macao-Taiwan Youth Innovation and Entrepreneurship Competition. The winning team will pocket more than 1 million Hong Kong dollars in prize money from the two contests.

Ling Junjie, chairman of YEA, said the association will also launch another program on August 17 to gather young leaders from different sectors of society for talent training and international youth exchange activities.

The “Innovative Elite Qianhai” program is funded by the Funding Scheme for Youth Entrepreneurship in the Guangdong-Hong Kong-Macao Greater Bay Area, one of the many sudsidies of the Youth Development Committee of Home Affairs Bureau of Hong Kong Government. The Hong Kong Liaison Office of the Qianhai authority is also one of the sponsors. The Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub will serve as the cooperation base of the program.

(Qianhai Media Center)