Youth entrepreneurship faces many challenges, with lack of funding being a major issue. However, the Hong Kong government and private organizations have established various youth entrepreneur funds and policies to provide support. These funds integrate information on financial support available for young entrepreneurs in Hong Kong.
Government/institutional funds provide support for general companies or specific industries like IT
The Hong Kong government has set up a $20 billion Innovation and Technology Venture Fund in a 1:2 ratio between the public and private sectors to invest in local startups. The government has also allocated $2 billion to establish a Cyberport Macro Fund. In addition, the government provides multiple funds and schemes like the Dedicated Fund on Branding, Upgrading and Domestic Sales, SME Loan Guarantee Scheme, and more to assist SMEs and entrepreneurs.
Private funds and angel investors provide equity financing for startups and entrepreneurs
International companies like Alibaba and local organizations have set up funds to invest in Hong Kong youth entrepreneurs, providing equity financing, subsidies, co-working spaces, training, and other support. Examples include the Alibaba Hong Kong Young Entrepreneurs Fund, HKSTP Corporate Venture Fund, Cyberport Creative Micro Fund, and angel investors like Big Bloom and Nova Founders Capital.
The Hong Kong ecosystem provides various funds and financing options targeted specifically at assisting youth entrepreneurs across different industries get their startups off the ground.