Rosewood Foundation Entrepreneurship Award

HKFYG and Rosewood Foundation

Launch “Rosewood Foundation Entrepreneurship Award”

Five Winning Start-ups Received HK$500,000 in Funding to Drive

Sustainability, Entrepreneurship and Green Opportunities

To create a better living environment for future generations and explore green opportunities, The Hong Kong Federation of Youth Groups (HKFYG) and Rosewood Foundation (Hong Kong Charity institution IR91/17420) have collaborated to launch the “Rosewood Foundation Entrepreneurship Award”. The award encourages local start-ups to unleash their creativity and expand their business to deliver deeper sustainable solutions by developing green business practices, and promoting sustainable production and consumption in society.

The award presentation ceremony was held today, 24 June, to announce the five winning start-ups, who each received HK$100,000 in funding, as well as the opportunity to explore business collaborations with the Rosewood Hotel Group. The aim of the “Rosewood Foundation Entrepreneurship Award” is to encourage and recognise innovative young entrepreneurs who have contributed to Hong Kong’s sustainable development.

The young entrepreneurs are aged between 18 and 35 years and have been operating their business for at least one, but not more than five years. After a highly competitive two-round selection process, the five winning enterprises were chosen from the industries of sustainable events curation, innovative green cleaning technology, electricity-free cooling technology, preservation of traditional local pastry culture while minimising food waste, and plastic waste upcycling.

The Secretary for Home and Youth Affairs, the Hon Alice Mak; Rosewood Foundation Chairperson and Rosewood Hotel Group Chief Executive Officer, Sonia Cheng; and HKFYG Executive Director, Hsu Siu-man officiated the Ceremony, with each pledging to support young local entrepreneurs, encourage the exchange of ideas, and champion innovative sustainable solutions.

“Our homegrown young talents are an important driver of Hong Kong’s economy and communities and a crucial support for industry growth and social mobility,” said Sonia Cheng, Rosewood Foundation Chairperson and Rosewood Hotel Group Chief Executive Officer. “We are glad to be inspired by and part of the journey of the city’s young entrepreneurs, who share our belief in doing business with purpose and spearhead innovation in our core values. We always hold a strong commitment to offering young generations unparalleled opportunities to grow and thrive with our continued support and partnerships,” Sonia added.

HKFYG Executive Director Hsu Siu-man stated “Young people are agents of social change and they have the potential to make significant contributions to Hong Kong’s future development through their innovative thinking and entrepreneurial spirit. We must, therefore, support all these efforts to the best of our abilities.” I also sincerely thanked the Rosewood Foundation for its support in co-establishing this award. “This Award recognises passion, but also recognises those young people who demonstrate social responsibility and aspirations. I am proud of the energy they bring into Hong Kong’s entrepreneurial environment,” she concluded.

The “Rosewood Foundation Entrepreneurship Award” aims to provide scale-up funding and networking opportunities to help outstanding local start-ups navigate growth. By focusing on green and environmental protection issues, it also promotes the sustainable development of society. More details can be found on the HKFYG’s “Social Innovation and Youth Entrepreneurship” website at sic.hkfyg.org.hk.