CoY announces list of funded projects under Youth Development Fund
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The Commission on Youth (CoY) announced today (February 23) the list of youth entrepreneurship projects to be provided with financial support from the Entrepreneurship Matching Fund (EMF) under the Youth Development Fund (YDF).
The Home Affairs Bureau and the CoY launched the YDF to operate with NGOs by providing matching funds to help young people start their own business.
During the application period, the CoY received 33 applications from non-governmental organisations (NGOs) for financial support from the EMF for their entrepreneurship projects. After interviews with eligible applicants and thorough assessment of the applications by the relevant CoY working group, nine NGOs' youth entrepreneurship projects have been approved for funding. The approved projects are listed in the Annex.
Information on the approved entrepreneurship projects, including the names of the successful applicant organisations and their projects as well as their contacts, is now available on the CoY's website (www.coy.gov.hk). The successful applicant organisations will announce details of their entrepreneurship projects and the application methods on their respective webpages. Young people aged 18 to 35 may approach the relevant organisations for enquiries and application to join their entrepreneurship projects.
Each successful NGO is required to provide a mentorship programme with relevant guidance and support, such as pairing up young entrepreneurs with suitable mentors, to assist them in grasping information on business development and building up business networks.
The YDF offers NGOs matching grants with conditions to implement their youth entrepreneurship projects. The maximum amount of funding under the EMF to each successful NGO is capped at $3 million while the financial assistance to each young entrepreneurship applicant is up to $300,000.
Ends/Thursday, February 23, 2017
Issued at HKT 17:05
Issued at HKT 17:05
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