2025 Rosewood Foundation Entrepreneurship Award

Launched by The Hong Kong Federation of Youth Groups (HKFYG) and Rosewood Foundation in 2023, the “Rosewood Foundation Entrepreneurship Award” aims to support young entrepreneurs in combining their passion for ‘doing good’ with business, and to unlock their creativity and talents by connecting them with resources and support mechanisms.

This year, the “2025 Rosewood Foundation Entrepreneurship Award” is seeking young entrepreneurs with innovative solutions in driving sustainable development in the hospitality industry. If you have a solution and are seeking funding to expand your business, apply now!

About the Award

The Rosewood Foundation Entrepreneurship Award will provide scale-up funding of up to HK$100,000, along with mentorship and business collaboration opportunities:

• 20 finalist companies will receive opportunities to expand their networks and participate in networking events.
• 10 companies shortlisted to participate in the Pitch Day will receive mentorship sessions and networking opportunities provided by The Hong Kong Federation of Youth Groups and Rosewood Foundation.
• 5 companies will be selected to receive scale-up funding of up to HK$100,000 to expand their businesses and explore opportunities for collaborating with hospitality businesses.

You will have access to: 

1. Start-up Mixer & Industry Networking Event

• The 20 finalists will be paired with star mentors from sustainability and hospitality sectors, along with representatives from The Hong Kong Federation of Youth Groups and Rosewood Foundation. Through group discussions, we will provide them with valuable insights and experiences.
• Pitch coaching will be offered to help finalists refine their presentation skills, enhance their pitch decks and effectively convey their business ideas.

2. One-on-One Mentorship Sessions

• After the first round of interviews, 10 finalists will be shortlisted. Industry experts will share industry and market insights with the finalists. Each of them will also receive a 1-hour one-on-one mentorship session, conducted via Zoom or in person.

3. Networking Opportunities

• The Hong Kong Federation of Youth Groups has been promoting and supporting youth entrepreneurship since 2000, with an extensive network of start-up entrepreneurs and commercial partners. The Federation is also a founding sponsor of the Hong Kong General Chamber of Young Entrepreneurs (HKGCYE). Through various business and entrepreneurship activities, the Federation aims to connect young entrepreneurs with business and personal networks.

Application Requirements – 4 Themes
Applicants must be working on 1 of the following themes:

1. Smart Technology to Enhance Hospitality Operation and Guest experience
Integration of advanced technological solutions to streamline operations, improve guest experiences and promote sustainability.

2. Wellness and Sustainable Lifestyle Solutions
Incorporation of wellness practices, mindfulness and sustainable living principles into the hospitality experience.

3. Culinary Innovations
Promotion of novel culinary experiences, innovative F&B products, farm-to-table dining concepts and sustainable F&B practices that highlight local and cultural authenticity.

4. Green Building and Design
Development of tools and materials for innovative green building and architectural designs.

Eligibility

1. Applicants must be Hong Kong permanent residents aged between 18 and 35;
2. Applicants must not have been bankrupt or involved in bankruptcy proceedings;
3. Applicants must be seeking support for scale-up funding to either:
   1. Expand their existing business; or
   2. Expand into a new area of business that has already been tested or certified;
4. The company must be registered in Hong Kong and have been in operation for at least 2 years but not more than 5 years;
5. Businesses must not be unlawful, illegal or involved in tobacco, advocacy of gambling, obscenity, etc.;
6. The nature of business must be related to the hospitality industry, including:
   1. Travel & Tourism;
   2. Food & Beverage;
   3. Lodging; or
   4. Outdoor & Recreation;

7. Applicants must provide relevant business registration documents, including a copy of the Business Registration Certificate, a copy of the Certificate of Incorporation, financial and audit reports and a copy of the Incorporation Form (Company Limited by Shares); and
8. If the company to be funded is a joint venture or operating as a limited company, all partners or shareholders must also be joint applicants and meet the above qualifications.

Judging Criteria

Business Strategy (25%):
Assess the clarity of the applicant’s mission, vision and goals, as well as their understanding of the target market and the competitive landscape within the hospitality industry

Scalability and Growth Potential (25%):
Consider factors such as the scalability of operations, expansion opportunities, adaptability to changing market conditions and potential for market penetration within the hospitality industry

Innovation and Differentiation (20%):
Evaluate the level of innovation and differentiation demonstrated by the applicant’s business. Consider unique features, products or services that set them apart from competitors and contribute to sustainable development within the hospitality sector

Financial Viability (15%):
Consider the applicant’s revenue model, cost structure, profitability projections and potential for long-term sustainability and growth within the hospitality industry

Social and Environmental Impact (15%):
Look for initiatives that promote responsible tourism, community engagement, environmental conservation or social inclusion within the hospitality sector

Judging Process

• The Secretariat will conduct a preliminary review and score the plans submitted by contestants according to the judging criteria. They will recommend 20 finalists to the Rosewood Foundation and invite them to attend the first round of interviews.
• After the first round of interviews, 10 finalists will be shortlisted. Industry experts, including those from the Rosewood Hotel Group, will share industry and market insights with the finalists. 1-hour one-on-one mentorship sessions will also be provided to the finalists via Zoom or in person.
• The 10 finalists will attend a final interview conducted by a judging panel of professionals, who will then select 5 finalists to receive the Rosewood Foundation Entrepreneurship Award.

Event Timeline (tentative)

Application Method

The programme only accepts online applications. Please submit the online form, business plan and required documents by the deadline (5:00pm on 29 November 2024). Late and incomplete submissions will not be accepted.

Required Documents

1. 1. Completed online enrollment form;
   2. Detailed business plan in English (up to 8 pages of A4 paper, font size: 12); (Sample)
   3. Financial budget:
      • Proposed usage of the HK$100,000 scale-up funding (must be used to expand the business);
      • 2-year financial budget;
      • Corporate financial report;
   4. Hong Kong Identity Card copies (for all team members);
   5. Copies of academic qualifications and recent employment certificates (for all team members);
   6. Proof of address within the last 3 months (for all team members);
   7. Relevant business registration documents, including a copy of the Business Registration Certificate, a copy of the Certificate of Incorporation and a copy of the Incorporation Form (Company Limited by Shares); and
   8. Proof of registered intellectual property, trademarks, patents or copyrights (if any)

Remarks

• Winning teams should co-operate with the Organisers and attend briefing sessions, related activities, launch ceremonies and media interviews.
• The Organisers reserve the right to publish and promote images, videos and text submitted by the applicants and winning teams.

FAQ

1. Can I apply if I only have a business idea and have not set up a company or started operating?

• No. The company must be registered in Hong Kong and have been in operation for at least 2 years but not more than 5 years.

2. Does the company have to be a social enterprise to apply under its name?

• No, it does not have to be a social enterprise.

3. Is there a language requirement for the business plan?

• The business plan must be written in English, and applicants should pitch in English.

4. Are applicants still eligible for this award if they have applied to other programs offered by the Rosewood Foundation?

• No, applicants are not eligible for this award if they have applied to other programs offered by the Rosewood Foundation.

5. Are applicants still eligible for this award if they have applied previously but were unsuccessful?

• Yes, applicants are still eligible for this award if they have applied previously but were unsuccessful.

6. Does completing the online registration mean successful registration?

• Online registration is the first step in the registration process. Applicants will receive an email from the Secretariat within one week of registration, requesting the required documents. The deadline for submitting documents is 5:00pm on 29 November 2024.

7. Can I apply for funding from other government or non-governmental organisations if my company is selected?

• There are no such restrictions on this programme. Please refer to the application requirements and terms and conditions of other individual programmes.

8. Can I change team members after submitting the application?

• No. If the company to be funded is a joint venture or operating as a limited company, all partners or shareholders must also be joint applicants and meet the above qualifications.

9. Can applicants participate in this event with different companies?

• No. Applicants can only participate in this event with one company.

10. Is there a limit on the number of team members for the company?

• There is no limit, and the team can have more than one member. If the company is operated as a joint venture or a limited company, all partners or shareholders must also be joint applicants and meet the program’s eligibility criteria.

Contact Us
HKFYG Social Innovation and Youth Business Unit

Tel: 3595 0945
E-mail: rosewoodaward@hkfyg.org.hk
Address: Room B-E, 11/F, Genesis, 33-35 Wong Chuk Hang Road, HK
Website: sic.hkfyg.org.hk
Facebook Page: hkfyg.sic