Creating shared value is the core of the Group’s business strategy. Shared value redirects the gaze of corporate, NGO and government leaders, enabling them to see new opportunities for private enterprises to solve public problems. Treating businesses as businesses, and not as charitable donors, and engaging with them directly, instead of through public relations, is one of the most powerful forces we have for social progress.
 
The birth of a new business pillar: The STILE plays an important role in the Group’s optimisation plan 
 
Not only is Stan Tang the chairman of Stan Group, he is also a leading social innovator and shared value advocate in Hong Kong. Under his leadership, the Group’s structure was optimised and integrated to align with the creating shared value (“CSV”) business model and a fifth business pillar, The STILE, was added.
 
As a showcase for CSV in practice, THE WAVE supports local entrepreneurial development
 
The Group saw a shared value opportunity in its decision to operate a business centre in Kowloon East, a new Central Business District and Hong Kong's second-largest commercial business district after Central. The area has gained prominence as a startup hub, attracting small, cost-sensitive companies seeking affordable, modestly-sized offices. However, the growth of a startup doesn’t depend on its physical location, but the social conditions found in the local entrepreneurial ecosystem. Without proper community support, the failure rate for new startups in their first year of operation is as high as 90%.
 
Government officials visit THE WAVE to see Stan Group’s vision of building a shared value entrepreneurial ecosystem
 
In February 2018, Financial Secretary of Hong Kong Mr. Paul Chan Mo-po led officials from the Home Affairs Bureau, along with Dr. Chan Chung-bun, on a visit to THE WAVE, where they met startup entrepreneurs and learned about the entrepreneurial ecosystem.
 
Last year, Chief Secretary for Administration Mr. Matthew Cheung Kin-chung, along with a HKSAR government delegation, toured THE WAVE. They also learned about its ecosystem during the final pitching and award presentation ceremony of the SI CEO Competition for Tertiary Students, which was co-organised by the Social Innovation and Entrepreneurship Development Fund and Youth.gov.hk.
 
Turning problems into opportunities that benefit our communities
 
Looking through a shared value lens, the Group saw the problems faced by startups as business opportunities. By revitalising an industrial building, adding co-working spaces, securing technical services and providing customised solutions to different issues, a win-win-win situation was created. The service suppliers made a profit and the startups overcame challenges, generating a positive social-economic impact for our community. Additionally, training camps were held for members, industry networking events were organised, and by the end of the first year of operation, a startup community with over 300 members was thriving.
 
Stan Group looks forward
 
business model that will help established businesses and young startups to enjoy future growth. Inspired by the success of THE WAVE in Kwun Tong, Stan Group is planning to establish additional projects in other districts that cater to different communities, extending our influence and impact.
 
In 2018, the Group will continue exploring CSV projects through an integrated senior wellness hub that takes elderly care to a new level through the power of the entrepreneurial spirit.
 
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