Guangzhou Yudao New Media Technology, which settled in the Guangdong-Hong Kong-Macao Greater Bay Area (Guangdong) Innovation and Entrepreneurship Incubator Base in Tianhe district, became the first Hong Kong and Macao enterprise to receive a start-up guaranteed loan in Guangzhou.

The start-up guaranteed loan program was launched by the Guangzhou municipal government, aiming to meet the capital turnover needs of entrepreneurs, as well as promote stable and sound economic and social development.

"The loan of 200,000 yuan ($31,375) is not that much, but it is enough for the company to buy equipment and expand operations," said Wu Weichao, founder of the enterprise.

In addition to start-up capital, Wu also received help in office space and housing. The Innovation and Entrepreneurship Incubator Base exempts the office rents for eligible Hong Kong and Macao youth entrepreneurial teams and enterprises.

Talent apartments are also offered by Tianhe district to Hong Kong and Macao youths, who boast a certain education background, have no house in Guangzhou, and have been working or starting a business for some years in Guangzhou.

A talent apartment in Tianhe for Hong Kong and Macao youths. [Photo/WeChat account: tianhefabu]

In recent years, Tianhe has been supporting the innovation and entrepreneurship of Hong Kong and Macao youths, who can now enjoy the employment and entrepreneurship subsidies, as well as start-up guaranteed loans and discounted interest that the district offers.

Promotional activities for employment and entrepreneurship supporting policies are specially carried out for Hong Kong and Macao youths.

To date, Tianhe has attracted 421 entrepreneurship projects from Hong Kong and Macao, as well as 64 teams, covering the fields of high tech, e-commerce, cultural creativity, biomedicine, and consulting management. A total of 226 patents have been produced, as well as eight enterprises with a value of over 100 million yuan.