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15 JUL 2021 2021

Mr Edward Wong, Senior consultant of HKUST Shenzhen Research Institute was invited as a guest by Now News, on a programme covering the topic of ‘Start-ups in Guangdong-Hong Kong-Macao Greater Bay Area (Greater Bay Area)’. 

The Greater Bay Area Development aims to harness the collective strengths of two Special Administrative Regions of Hong Kong and Macao and nine municipalities in Guangdong Province through co-ordinated economic development, with ‘1+12+N’ as a key focus. ‘The 12 bases established in Guangdong, Hong Kong and Macao, are served as consulting bases to help start-ups resolve challenges and provide expert advice.’ 

Another key factor is to alleviate the financial burden of the enterprises, such as the subsidy (up to 2 million) provided by Guangzhou Start-up Foundation. It also helps enterprises to secure loans. ’With the policy in GBA and loans approved by the banks, a lot of venture capital is concentrated in this area. The successful case in Silicon Valley California, proves that entry of venture capital can really help small-sized enterprises grow and succeed.’