The Hong Kong University of Science and Technology (HKUST) has long had a global vision on campus as it invites – for the first time ever – both local and overseas participants to compete in the 12th annual One Million Dollar Entrepreneurship Competition. Celebrating the 30th anniversary of the University, additional prize bonuses will be awarded at the event in a bid to enhance diversity, boost public engagement and better the overall experience of the participants.
Thanks to the undue support from Sino Group, the annual flagship One Million Dollar Entrepreneurship Competition organized by HKUST has evolved from a platform to nurture bright minds from within the university to a city-wide competition that will shape Hong Kong into a technology hub for a better and innovative tomorrow. This year, the competition takes a step further to expand beyond Hong Kong and invite overseas participants. Accepted groups from overseas will partner with HKUST students to join the competition in the later stage. After completing the assessments in 3 rounds, 9 shortlisted teams will be selected to present their full business plan to a Judging Panel composed of venture capitalists, corporate executives, faculty members and, in line with the inaugural global invitation, professional investors and experts from abroad such as Singapore and Canada so to promote Hong Kong innovation onto a worldwide stage. Plus, for the first time ever, the Final Round presentation will be broadcasted online to a global audience. 3 teams will be selected to win the Platinum, Gold and Silver Awards. These teams will be awarded the 30A Special Award of HKD100,000 each on top of the Platinum, Gold and Silver cash awards.
Since 2018, Sino Group has been the title sponsor of the HKUST One Million Dollar Entrepreneurship Competition. Ir. Prof. Andrew YOUNG, Associate Director (Innovation) of Sino Group and Adjunct Professor, Division of Integrative Systems and Design at HKUST, highlighted the importance of innovation and technology. “Our future lies with the young minds of tomorrow; but they cannot achieve great things unless the best ideas and practices are pulled in from around the world: this is where diversity is paramount in innovation and entrepreneurship. At Sino, we are committed to supporting innovation and technology as our path to future is paved with technology and we take a holistic approach to innovation to support Hong Kong’s growth into an international technology hub. We believe that entrepreneurship should be cultivated at a young age and are honored to sponsor the competition for five consecutive years in supporting our younger generation to showcase their creativity and innovation.”
Multiple awards will be given to winners who can use the cash prize as seed money to form their companies or commercialize their inventions. Application period to participate in the competition is from March 14 to March 23.
