Hengqin Youth Entrepreneurship Valley to open in July

Hengqin’s Youth Entrepreneurship Valley dedicated to Macau entrepreneurs is expected to open in July. The participants will be exempt from paying rent for at least the first year.
The Secretary for Economy and Finance, Lionel Leong, led a delegation of nearly a hundred Macau youths on a visit to the Hengqin facility yesterday where they learnt about its conditions and policies from the Hengqin’s administrative committee.
Located opposite the campus of the University of Macau, the valley covers an area of 30,000 square meters in its first section and 180,000 square meters in its second. It mainly attracts young people aged between 18 and 45 who study, live or work in Macau, and offers exemptions on rent for at least one year to stationed enterprises.
Apart from basic administrative and auxiliary facilities, entrepreneurship training and venture capital management programs will also be available. While the first section is scheduled to start accommodating enterprises in July, the second section is expected to have completed construction and be put into use by year-end.
Leong told media that the visit aimed to facilitate an understanding among Macau youth of the spaces, policies and conditions offered at the different Guangdong Free Trade Zones, as well as of the markets they might offer. He encouraged the young entrepreneurs to think more, ask more, propose ideas, and learn about customers’ needs as part of the meeting.
So far, 27 companies from Macau have applied to be stationed in the valley. The Hengqin Financial Investment Company’s vice-president, Zhao Guopei, as cited by  TDM, said that applications are still open, and there is currently no cap on the total number of applications to be received.
Mr Zhao revealed that the assessment of applicants will be conducted in early June. He hopes there will be more enterprises engaging in creative, Internet and other emerging industries to join the Valley.