Awards

HKUST-Sino One Million Dollar Entrepreneurship Competition 2022

 

Winners of the HKUST-Sino One-Million-Dollar Entrepreneurship Competition 2022 will be awarded with cash prizes and in-kind services.

Cash and in-kind awards are to be used by the winning teams solely for the purpose of proving funding for the business plan in respect of which the award was granted. Service providers shall be entitled to decline to provide their services for the purpose of business plans other than in respect of which the award was granted. By accepting the awards, participants will be deemed to have accepted these terms and agreed to apply the cash and in-contribution awards for the purposes intended.

Cash Awards

 

 

 30A Special Award 1 w/ HKUST Tech w/ Interschool Members 3
Platinum Award HKD400K HKD100K +HKD75K +HKD37.5K
Gold Award HKD200K HKD100K +HKD50K +HKD25K
Silver Award HKD100K HKD100K +HKD25K +HKD12.5K
GF Innovation Award HKD100K      

Global Investment Award

 HKD80K      

HKUST Student Team Award (3 places) 2

 HKD20K each      
Elevator Pitch Award (3 places) HKD20K each      
Exhibition Award (3 places) 4 HKD20K each      

 

Remarks:

1  The HKUST 30th Anniversary Special Award (30A Special Award) will be distributed to the winning teams of Platinum, Gold and Sliver Award. (100K each)

2  Student Team Award will be awarded to the teams which are composed of HKUST full-time students only.  Top 3 UST student teams from the round 3 will get the award.

3   “Interschool Members” means the team is composed of members coming from more than 1 academic programs AND the academic programs are collectively run by more than 1 schools within HKUST.

Example 1: 1 SBM student + 3 SENG students or 2 SSCI students + 2 SBM Alumni

Example 2: 1 DSCT student + 1 double major (CSE + MATH) student 

4 In view of the latest COVID-19 pandemic status, the Exhibition is postponed until further notice. Hence, the Exhibition Award will be cancelled.

Payment Distribution

  1. The equity of the winning companies should not be changed.
  2. Winning teams must be a registered company to get the cash award and are expected to form their companies in Hong Kong. The company name should be the same as the team name.
  3. The recipients of prize money will be responsible for the tax implications of their winnings.
  4. HKUST reserves the right to withhold or to defer in whole or in part of any of the cash and/or and in-kind contribution awards if the winning teams violate the above conditions.
  5. Cash prize arrangement will be announced after the competition. Winners must present the company registration documents, company bank account number and other information requested within 1 year of the announcement, otherwise the cash prize will be considered forfeited.