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HK to fund more on entrepreneurship

HONG Kong China Chamber of Commerce will invest more in its entrepreneurship platform to support start-ups in both Hong Kong and the mainland to enhance economic link across the broader.

The chamber will include four Hong Kong universities in the Bauhinia Valley Innovation and Development Center that already covers 12 top universities on the mainland with a total investment of HK$240 million (US$30.7 million), said Henry Chan, executive vice chairman of the chamber and head of Hong Kong Bauhinia Valley Investment Holdings Co.

The center, initiated by the chamber and set up by various Hong Kong organizations, offers a five-year program to polish business skills and expand network for entrepreneurs from the mainland and offshore.

University professors, government officials and industrial veterans are invited to offer courses and deliver lectures for the program.

The first batch of 600 center members will complete their training this year and the center aims to develop 10,000 start-ups within the next five years, according to Chan.

“Our goal is to develop an 'oriental silicon valley' in answering the State Council's advocate for mass innovation and mass entrepreneurship,” said Chan. “We can leverage resources in both Hong Kong and mainland to support young people in the two areas and contribute to better economic growth for the country.”

The center will also expand in ASEAN countries in supporting China's One Belt One Road initiative, Chan added.

Chan made the remarks as he led 200 students and teachers of Hong Kong middle schools on a summer camp for a six-day visit in Shanghai.

Kevin Fan,main organizer of the camp and chairman of the Unified Association of Kowloon West, said the exchange between entrepreneurs and students between mainland and Hong Kong will help young people to understand each other through their own experience.

“We hope members of the camp can dialectically and comprehensively understand China's history, culture, and economic development, and bring their understanding back to Hong Kong to better bridge development across the broader,” Fan said.


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