In celebration of the 25th anniversary of the HKUST Entrepreneurship Center, The Hong Kong University of Science and Technology (HKUST) kickstarts today its four-day “HKUST E-25th Entrepreneurship Carnival” on campus, offering participants an immersive entrepreneurial experience through an innovative Monopoly-themed exhibition. Featuring over 100 booths for start-up founded by alumni and students, the carnival showcases the achievements of the HKUST Entrepreneurship Center over the past 25 years.
Officiating the ceremony were Ms. Lillian CHEONG, Under Secretary for Innovation, Technology and Industry of the HKSAR Government, and Prof. Tim CHENG, HKUST Vice President (Research & Development). Entrepreneurs, alumni, and representatives from the education sector were also in attendance to commemorate this significant milestone.
As Hong Kong’s first University to promote entrepreneurship and entrepreneurial education, HKUST has established its Entrepreneurship Center since 1999, spearheading various initiatives and funding programs to foster a vibrant entrepreneurial culture on campus and nurture a mindset that embraces risk-taking and value creation. Since 2011, the Entrepreneurship Center has organized the flagship ‘One Million Dollar Entrepreneurship Competition’, which has provided a valuable platform for over 9,000 startups to bring their ideas to life, distributing over 60 million dollars to support their initial journeys.
Additionally, the Entrepreneurship Center hosts over 50 entrepreneurial events annually and guides startup teams in participating in over 20 exhibitions both locally and overseas. Currently, HKUST members have founded over 1,800 active start-ups, including 10 Unicorns and 14 exits (IPO or M&A) with members consistently securing over 130 awards related to entrepreneurship each year.
In his welcoming speech, Prof. Tim CHENG, Vice-President for Research and Development at HKUST, said, “Over the years, the Entrepreneurship Center has been committed to providing comprehensive support for students, faculty, and alumni to ignite their potential in creating their own businesses. The Entrepreneurship Carnival not only serves as an excellent platform to showcase the University’s fruitful achievements in promoting entrepreneurship over the past 25 years, but also underscores our efforts in fostering diverse entrepreneurship and knowledge transfer. Looking ahead, we aspire to cultivate an even stronger entrepreneurial spirit on our campus, contributing further to the innovation and technology ecosystem in Hong Kong and beyond.”
Prof. Cheng also highlighted that many impactful technology companies, including the unicorn DJI, the publicly listed company Googol Technology, and Perception Digital, were incubated through the University’s entrepreneurship programs, adding that HKUST professors LI Zexiang and KO Ping-Keung have also established the incubator XbotPark, further demonstrating HKUST’s entrepreneurial culture and spirit.
Organized from November 5 to 8, the “HKUST E-25th Entrepreneurship Carnival” features over 100 startup booths showcasing cutting-edge technologies and products from HKUST. In this Monopoly-themed exhibition, participants are invited to interact with various booths as if they are playing a Monopoly game. Each booth represents a different stage of the entrepreneurial journey, providing a hands-on experience that encompasses the entire process-from the inception of an idea to the growth of a business. Through this event, HKUST aims to highlights Entrepreneurship Center’s commitment to driving innovation and supporting entrepreneurial endeavors over the past 25 year.
Other highlights include a keynote speech by Prof. LI Zexiang, known as “Father of Entrepreneurship,” Startup Open Mic sessions, investor and entrepreneurship education talks, founder meet-and-greets, and SDG Entrepreneurship Workshops. These activities provide participants with valuable opportunities to engage with entrepreneurs, investors, and industry experts, fostering in-depth discussions on entrepreneurial opportunities and challenges.
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About The Hong Kong University of Science and Technology
The Hong Kong University of Science and Technology (HKUST) (https://hkust.edu.hk/) is a world-class university that excels in driving innovative education, research excellence, and impactful knowledge transfer. With a holistic and interdisciplinary pedagogy approach, HKUST was ranked 3rd in the Times Higher Education’s Young University Rankings 2024, while 12 of its subjects were ranked among the world’s top 50 in the QS World University Rankings by Subject 2024, with “Data Science and Artificial Intelligence” being ranked first in Hong Kong and 10th in the world. Our graduates are highly competitive, consistently ranking among the world’s top 30 most sought-after employees. In terms of research and entrepreneurship, over 80% of our work was rated “internationally excellent” or “world leading” in the latest Research Assessment Exercise 2020 of Hong Kong’s University Grants Committee. As of October 2024, HKUST members have founded over 1,800 active start-ups, including 10 Unicorns and 14 exits (IPO or M&A).
