Judging Process

HKUST-Sino One Million Dollar Entrepreneurship Competition 2022

Judges

  1. The Judges shall be experienced entrepreneurs, investors, academics and industrial professionals appointed by Entrepreneurship Center.
  2. HKUST and the Judging Panel reserves the right to disqualify any entry that in its judgment violates the “Application & Eligibility” and/or “Submission Rules” of the Competition.
  3. HKUST and the Judging Panel reserve the right to amend the procedure and/or the timing for the competition on one or more occasions without giving prior notice to any of the participants. HKUST and the Judging Panel reserve the right to decide that all or any of the entries or plans do not meet the judging criteria, or to defer in whole or in part all or any of the cash and/or in-kind contribution awards to the following year.
  4. The decisions of the Judging Panel are final and binding.

 

Judging Process

The assessment process consists of 4 rounds and the winners will be announced after the Competition.

  1. Round 1 Assessment
     
    23 March 2022 Deadline of Application
    24 March 2022 - 3 April 2022 Evaluation of All Entries
    4 April 2022 Result Announcement of Round 1 Assessment
  2. Round 2 Assessment
     
    11 April 2022 - 16 May 2022 Video Q&A Activity
    15 April 2022 Deadline of Executive Summary Submission
    16 - 24 April 2022 Evaluation of All Submissions
    25 April 2022 Result Announcement of Round 2 Assessment
  3. Round 3 Assessment
     
    2 May 2022 Deadline of Short Business Plan and Exhibition Poster Submission
    10 May 2022 Exhibition (Canceled)
    11 May 2022 Pitching and Q&A Session
    13 May 2022 Result Announcement of Round 3 Assessment
  4. Final Round Assessment
     
    9 June 2022 Deadline of Full Business Plan Submission
    22 June 2022  Final Round Business Plan Presentation and Award Ceremony

 

Judging Process of Each Round

(A) Round 1 Assessment: Production Introduction Video

The core assessment of the entries will focus on the innovativeness of the proposed product.

  1. All Round 1 entries are required to submit a 1-min Product Introduction Video.
  2. Each video will be assessed by 3 or more independent judges formed by experienced entrepreneurs, investors, academics and industrial professionals. They will make their evaluations and score the teams according to a common judging criteria based on “Product Introduction Video Guideline”. Top 50 with highest scores will enter the Round 2 Assessment.
  3. The videos will be uploaded to the Competition website for online activity with HKUST members and public.

(B) Round 2 Assessment: 1-page Executive Summary

The core assessment of the entries will focus on the proof of feasibility, viability and commercial potential of the product/services you are providing.

  1. All entries will be evaluated by a judging panel formed by Entrepreneurship Center using a common judging criteria based on “1-page Executive Summary Guideline”

Note: Up to 20 outstanding teams from internal or external competitions and nomination will be selected to enter the Round 2 Assessment. Together with the 50 entries from the Product Introduction Video, a maximum of 70 teams will be shortlisted to enter Round 2 Assessment.

(C) Round 3 Assessment: Exhibition and 3-minute Pitching with Q&A Session

Exhibition (Canceled)

  1. The Exhibition will take place on 10 May 2022. The purpose is to gather more innovative ideas for HKUST Community and to have exposure opportunities for the teams.
  2. The Exhibition will not be counted into the score for next round.
  3. Teams are still required to submit the Poster to fulfill the Round 3 eligibility.

3-minute Pitching with Q&A Session

The 3-minute Pitch will take place on 11 May 2022.

  1. Each Team is required to make a 3-minute pitch in front of a Judging Panel of 3 to 5 Judges followed by up to 6 minutes of Q&A by the Judging.
  2. Each Team is required to submit a Business Plan. The submitted version will be sent to the judging panel for background study before the Short Pitch. Teams not meeting this deadline may be disqualified.
  3. The Judging Panel will make their evaluations and score the teams according to a common judging critria based on “Short Business Plan Guideline”.
 

(D) Final Round Assessment: Full Business Plan Presentation

Business Plan Presentation

The Final Round Business Plan Presentation will take place at June 2022. The full business plan should explain the practicability of the plan execution and fundability potential.

  1. Each team will conduct a 10-minute, uninterrupted Business Plan presentation in English followed by up to 15 minutes of Q&A by the Judging Panel of 3 to 5 Judges. It is not compulsory for all team members to speak in the presentation. But the whole team should be there for the Q&A section, the judging panel would ask questions to specific members of the team as per their role and expertise inside the team.
  2. The Judges will make their evaluations and give their scores by using a common “Full Business Plan Guideline”.
  3. The winner of the "Innovation Award" will be decided after a joint deliberation of the Judging Panel.

Shortlisted teams in the Final Round will have a chance to give an elevator pitch in the Award Ceremony to compete for the Elevator Pitch Award. The Pitch should be done by one of the HKUST members in the team.