Digital Transformation and Entrepreneurship

As a result of the Pandemic, businesses have had to adjust and adapt. This is particularly so for many start-ups and Small and Medium size enterprises (SMEs), both in Hong Kong and the Greater Bay Area (GBA), who have begun moving to digital and online platforms. This has allowed them to relate directly to customers when social distancing, lockdowns and other Pandemic protocols have altered the way traditional business is run.

As a result, young entrepreneurs need to be aware of the various digital marketing platforms available,(such as Facebook, Instagram, YouTube, Weibo and Xiaohongshu. The knowledge and skills that they learn from these platforms provide them with an advantage, as well as new opportunities for customer reach and expanding businesses.

The “Digital Transformation and Entrepreneurship” Project, therefore, offers young entrepreneurs the training in knowledge and skills to enhance their business potential. Over the course of a year, they will be able to gain insight into digital marketing, advertising and sales; have the chance to visit the GBA (health situation considered); and acquire business support and mentoring.

To access this Project, applicants will be asked to propose ideas of applicable digital transformations and online marketing with regards to their companies.  The top five successful applicants will benefit with media exposure opportunities as well through which they can also build up their brands and businesses.

Organiser

The Hong Kong Federation of Youth Groups

Sponsored by

Greater Bay Area Homeland Youth Community Foundation

Project Description

• Digital transformation and marketing training lessons

Ten free training lessons will be provided by the Federation, the content of which will cover digital transformation, online sales and marketing, among other relevant issues, including  opportunities in Hong Kong  and other cities in the GBA, demands and business model transitions, especially under the epidemic.  The schedule is as follows:

• Enterprise Visit (Greater Bay Area)

A three day-two night trip will be arranged to the GBA so that participants will get a first hand feel for the history and business culture of the area. Visits will be included to, among others, successful and and well-known incubation centres, universities and enterprises. Networking sessions will be arranged between start-ups and young entrepreneurs to gain direct understanding of GBA policy and technology development. Professional mentors will provide guidance in group discussions with applicants, where participants will also be encouraged to share their thoughts and inspirations. After the visit, the participants will be required to make a short video to review the visit and upload it on their social media platforms.

Arrangement of Enterprise Visit

Contingency Plan

Given the ever – and often fast – changing dimensions of the corona virus, we must have contingency plans in place. Should the visit to the GBA be impossible, visits in Hong Kong will be arranged to include photography and content design workshops, KOL and online store and corporate sharing.

• Professional Mentor Consultations

The association will arrange four times for each team, each one-hour meeting with a professional mentor for a one-on-one consultation. Young startups can seek professional advice on the current difficulties and improve the digital transformation plan under the guidance of mentors to complete a three-month practical digital transformation. In addition, four professional mentor consultations will be held in the form of a business clinic.

• Plan implementation (Three months)

Following the training and the Enterprise visit, participants will be required to submit a three-month digital transformation plan, which will include goals, timetables, improvement mechanisms and final self-assessment criteria. With guidance from matched mentors, participants will be able to complete their plans before submitting a final report.

• Media Exposure Opportunities

The HKFYG will provide media exposure opportunities to the top participants, to include:

1. The making of promotion videos and releases on YouTube and other major social media platforms
2. Online promotion (official website, Facebook, Weibo, email promotion)
3. Media interviews

Eligibility

• Any Hong Kong permanent resident, aged between 18 – 35 years old (as of the application deadline)
• Individual or group (no more than 2 applicants) per application
• Being able to describe practicable ideas of digital transformation for a start-up business that has been in operation for no more than three years
• Having business accounts on online platforms, such as Facebook, Instagram, YouTube, WeChat Public Account, Weibo and Xiaohongshu
• Priority will be given to young people who have never participated in similar projects funded by the Youth Development Fund related to the Greater Bay Area
• Priority will be given to retail and catering industries

After the deadline for registration, potential applicants will be selected by the HKFYG to attend the training sessions. After completing the training sessions with 80% or above of the attendance rate, as well as consultations with the mentors, a digital transformation plan will be carried out by the applicants, following by a final presentation. The top 5 teams with successful digital transformation will be selected eventually.

Judging criteria

• Effectiveness of the proposal
• Consistency in the target market, advertising strategies and sales targets
• Content writing, creative thinking and reasonable practice
• Use of advertising tools, effectiveness of the marketing budget plan

Registration fee

Free of charge

Deposit

To ensure the participants’ engagement, a deposit of HK$1,000 will be charged by the HKFYG. If the participant has an attendance rate of 80% or above, HK$1,000 will be refunded one month after the end of the Project. If the participant does not reach at least 80% of the attendance rate, the HKFYG has the right retain the deposit

Application schedule

Application Method

The project only accepts online applications.

Please submit the the completed online application form and submit the preliminary proposal for digital transformation before 25 February 2022. Late applications will not be considered.

Successful applicants will receive a deposit payment notice and project confirmation letter on or before 23 February 2022.

Remarks

• The applicants are required to fulfill 80% of the attendance rate of training sessions, and attend all consultations
• The top five applicants will undertake sharing sessions, media interviews, and an awards ceremony.
• The HKFYG reserves the right to use the submitted design works, including photos and video material for exhibitions, promotion and publication purposes.
• All applicants must be a registered YO PLACE Member.

Enquiries

HKFYG Social Innovation and Youth Business Unit

Tel: 35950945 / 39568001

Email: sic@hkfyg.org.hk

Address: Room B-E, 11/F, Genesis, 33-35 Wong Chuk Hang Road, Hong Kong

Website: sic.hkfyg.org.hk

Facebook Page: hkfyg.sic