Policy Address
Youth Entrepreneurship
163. More and more young people wish to demonstrate their ability by starting their own businesses and finding an alternative path to working in traditional sectors. Last year, the Youth Development Commission introduced the new Funding Scheme for Youth Entrepreneurship in the Guangdong-Hong Kong-Macao Greater Bay Area under the Youth Development Fund to render better entrepreneurial support and incubation services to Hong Kong young people who intend to start their businesses in Hong Kong and the Mainland cities of the GBA, and to further address their initial capital needs. Once the epidemic situation has become stable and cross-border travel resumed, the Home Affairs Bureau will launch the scheme to subsidise over 10 NGOs to implement youth entrepreneurship projects. It is estimated that about $100 million will be provided for nearly 200 youth start-ups and supporting services to about 4 000 young people. Guangdong and the Mainland cities of the GBA have agreed to support the scheme by providing co-working bases and letting Hong Kong young people enjoy the same treatment and support as their peers on the Mainland. In addition, the HKSAR Government will establish the Alliance of Hong Kong Youth Innovative and Entrepreneurial Bases in the Greater Bay Area to serve as a one-stop information, publicity and exchange platform to further support innovation and entrepreneurship by Hong Kong youth in the GBA.
Member Self-recommendation Scheme for Youth
164. To provide more opportunities for young people to participate in policy discussions and understand government operation, we have regularised the Member Self-recommendation Scheme for Youth launched by the current-term Government and expanded it to cover more boards and committees. Young people aged between 18 and 35 may self-nominate to become members of specified government advisory committees through the scheme. So far, around 340 posts are currently held by young people who have been appointed directly or indirectly to the advisory and statutory bodies through the scheme. The overall ratio of appointed youth members in the advisory and statutory bodies has increased from 7.8% in 2017 to 13% at present, gradually approaching the target of 15% set by the current-term Government.
