HKUST-Sino One Million Dollar Entrepreneurship Competition 2023
Winners of the HKUST-Sino One Million Dollar Entrepreneurship Competition 2023 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.
In-Kind Services and Supports
To encourage participants to get their businesses going, and further reinforce the practical focus of this Competition, we have put together a suite of services for all applicants and awardees. This include:
In-kind from HKSTP for Selected and Eligible Teams in Round 1
- Top 50 shortlisted teams from Round 1 will be direct admitted to the HKSTP Ideation Program.
* Terms and Conditions apply
In-kind for 30 Selected and Eligible Teams in Round 2
- Exclusive company incorporation package for startup teams offered by FastLane Group which includes the following special discounts and a free mentoring consultation:
- Company formation $4,500 (including 1-year company secretary service)
- 50% of Xero subscription fee for the first 6 months (only applicable for new users)
- Free 30 minutes mentoring consultation with our specialist
- All HKUST teams in Round 2 that composed of at least 50% of HKUST students OR with HKUST members (students, alumni, faculty) own at least 51% shares will enjoy:
- Support in the basic company incorporation and registration fee under the Hong Kong Companies Ordinance (link) up to $1970 offered by Entrepreneurship Center.
- Exclusive offer for a choice of 2 x Hot Desk Weekly Pass per Team (worth up to $1,700) or 100 Tokens for up to 10 hours of meeting room rental (Worth $1,000) (claim within the period of 1/7/2023 – 31/12/2023) provided by Ooosh Tech Lab *Terms & Conditions apply. In case of any dispute, the decision of Ooosh Tech Lab shall be final.
In-kind for 6 Selected and Eligible Teams in Final Round
- Exclusive offer for a choice of 2 x Hot Desk Monthly Pass per Team (worth up to $5,000) or 300 Tokens for up to 30 hours of meeting room rental (Worth $3,000) (claim within the period of 1/7/2023 – 31/12/2023) provided by Ooosh Tech Lab *Terms & Conditions apply. In case of any dispute, the decision of Ooosh Tech Lab shall be final.
In-kind for Sustainability Impact Award winners
- Admission spots to the ESG Accelerator Program offered by World Green Organisation. Details of the program: https://thewgo.org/site-wgo/esgaccelerator/
About FastLane Group
Founded in 2013, the FastLane Group (www.fastlanepro.hk) is a Hong Kong-based accountancy and advisory firm that has a special focus on helping entrepreneurs and SMEs.
Our diverse range of professional services includes accountancy, auditing, company formation, payroll management, and HR advisory assistance. In addition, the FastLane Group is a CPA practice registered with the Hong Kong Institute of Certified Public Accountants (“HKICPA”) and we are also licensed with Hong Kong Company Registry!
Through our network of professional service providers, the FastLane Group provides best-in-class services for businesses looking to operate in not only Hong Kong but also around the world.
About HKSTP Ideation Program
HKSTP Ideation is a one-year programme designed to nurture tech-focused entrepreneurs to become successful startups and help them turn their brilliant ideas into reality. Through the programme, entrepreneurs will receive all-rounded support from HKSTP to acquire the essential skills to launch their new ventures. Apart from business model design and investment training, they will also receive guidance on fine-tuning ideas and technical development. Participating entrepreneurs will also have access up to HKD$ 100,000 seed funding and a co-working space with a series of training during the 12-month programme to realise their ideas.
For details of the eligibility, please visit their website (https://www.hkstp.org/innovate-with-us/passion-matters/incubation-and-acceleration/ideation/)
About Ooosh Tech Lab
Ooosh Tech Lab is an Integrated Venture Capital firm investing into the future of web and work. We facilitate equal opportunity and further scalable impact on our world by cultivating decentralisation technologies and business networks. By way of doing so, we build ecosystems with our Coworking Space and Incubator for early-stage startups, angel investors and all other contributing stakeholders to engage, learn and elevate each other.
About World Green Organisation
World Green Organisation (WGO) is a non-governmental organisation who is concerned with environmental conservation, environmental related livelihood and economic affairs by proposing an integrated, three-pronged solution that combines social, environmental, and economic aspects, leading to an environmental revolution. Through science-based policy research and community projects, WGO targets to enhance the quality of the environment, promote a greener economy, and to improve people’s livelihoods. Particularly focus on the social concerns of underprivileged groups and on the creation of a green economy to help realise its vision of sustainable development. For more information, please visit http://www.thewgo.org/.