Cyberport's Smart-Space 8 to support young entrepreneurs

Cyberport last week opened its eighth co-working space in Tsuen Wan (Image Cyberport)

Cyberport has opened its eighth co-working space in Tsuen Wan, and the first to offer comprehensive incubation support for young entrepreneurs.

Located at the CDW Building in the town center, Smart-Space 8 represents Cyberport’s first co-working space outside of the Pokfulam campus.

The 20,000 square foot facility can accommodate 142 startups, with applicants in fields including game development, fintech, edutech, healthtech, big data, app development, e-commerce and wearable technology having already applied to take part..

The facility offers various supporting services to startups and young entrepreneurs, including one-stop incubation programs.

These programs include the Cyberport Creative Micro Fund, Cyberport Incubation Program, Cyberport Accelerator Support Program and Cyberport Macro Fund.

Cyberport opened its first Smart-Space in 2009. The co-working spaces are designed to provide the atmosphere to encourage innovators to connect, share ideas and exchange insights.

Young entrepreneurs have been encouraged to apply to join the Smart-Space 8 program. Individual applicants must be aged between 18 and 35, while company applicants must have at least one founder in this age bracket and have been in operation for no longer than seven years.

“We are in the golden age of entrepreneurship. ‘Space Sharing Scheme for Youth’ has created a multi-functional, creative space to help these innovators realize their entrepreneurial dreams,” commented Matthew Cheung Kin-chung, chief secretary for administration for the HKSAR government

“With its extensive network, Smart-Space 8 by Cyberport in Tsuen Wan will bring numerous opportunities to a whole new breed of start-ups in Hong Kong.”

According to Cyberport, Smart-Space 8 has received positive response since it was first opened for application in June. It offers three types of facilities for startups--flexi-space, workstation, and office room. 

"About half of the facilities were rented out to entrepreneurs. Office room is the most chosen facility. 60% of the office rooms were rented out," said Peter Yan, CEO of Cyberport. "Two startups were attracted by the transportation convenience and vibrant young entrepreneurial community in Smart-Space 8, and moved from our home campus in Pokfulam to here."