Awards
HKUST-Sino One-Million-Dollar Entrepreneurship Competition 2021
Winners of the HKUST-Sino One-Million-Dollar Entrepreneurship Competition 2021 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
| w/ HKUST Tech | w/ Interschool Members# | ||
|---|---|---|---|
| Platinum Award | HKD400K | +HKD75K | +HKD37.5K |
| Gold Award | HKD200K | +HKD50K | +HKD25K |
| Silver Award | HKD100K | +HKD25K | +HKD12.5K |
| GF Innovation Award | HKD100K | ||
| HKUST Student Team Award (3 places)* | |||
| - Gold Award | HKD75K | ||
| - Silver Award | HKD60K | ||
| - Bronze Award | HKD50K | ||
| Best Video Award (3 places) | HKD50K each | ||
| Elevator Pitch Award | HKD50K | ||
| Global Challenge Award** | |||
| - COVID-19 | HKD25K | ||
| - Aging Global Population | HKD25K | ||
| - Chronic Diseases Contol | HKD25K | ||
| - Natural Resources Conservation | HKD25K | ||
| - Sustainable Urban Living | HKD25K | ||
| - Technological Advancement and Inventions | HKD25K | ||
| - Twenty-First Century Education | HKD25K |
* Student Team Award will be awarded to the teams which are composed of HKUST full-time students only. Top 3 teams from the UST student track will get the award.
# “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
** Each team is only qualified to be considered in one of the global challenges. When filling in the online application form, the team has to declare which global challenges the team is solving for this purpose.
Payment Distribution
- The equity of the winning companies should not be changed.
- 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.
- The recipients of prize money will be responsible for the tax implications of their winnings.
- 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.
- 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.