What: The Housing Authority of Hong Kong is launching the Wellbeing Start-up program, offering rent-free shop spaces to entrepreneurs aged 35 and below for seven months.

Why it is important: This initiative aims to foster innovation among young entrepreneurs by providing them with cost-free retail spaces and support, enhancing the diversity of the local shopping experience and stimulating economic growth.

The Housing Authority of Hong Kong is introducing the Wellbeing Start-up program, a seven-month initiative starting in October, which will provide rent-free shop spaces to young entrepreneurs under 35. Ten shop premises in the authority's shopping centers will be available, along with basic shop-building support and marketing assistance. If participants generate a profit, 20% of their net profit will be reinvested into the program. The program seeks to leverage young people's innovative ideas and provide a diverse shopping experience for the community. Applications are open from August 1 to August 31, with selections based on criteria such as innovation, feasibility, and social benefits. This program coincides with Hong Kong's recent efforts to boost online shopping and retail sales through an e-commerce festival.

Hong Kong to offer rent-free shops to aspiring startups