APPLICATION AND ELIGIBILITY

HKUST-SINO One Million Dollar Entrepreneurship Competition 2024

 

Application

  1. Application is open from early-May 2024 to 5 July 2024. International Student Track will close on 12 July 2024.
  2. Teams must apply online (HERE). No paper entries will be accepted.
  3. Entries must be the original work of entrants.
  4. Team required to submit a Pitch Deck (with minimum 5 pages but no more than 10 pages). Details please refer “Submission Rules”.

 

Team Eligibility for Application

HKUST Track

  1. The HKUST Track is open to all full-time and part-time students at all levels and post-docs, alumni, researchers, faculty and staff of HKUST (including Overseas HKUST Members).
  2. Anyone can apply for the Competition and their team should be using HKUST intellectual property (IP) and/or technology in their start-ups. 
  3. The size of each team must be between 2 to 10 members for application. All team members must be registered members of the team.
  4. The HKUST member(s) must hold at least 20% ownership in the proposed company.
  5. Each team is ONLY permitted to submit a Pitch Deck (with minimum 5 pages but no more than 10 pages) for Round 1 Assessment.
  6. Each participant can only join up to 1 team.  Each team can only join up to 1 regional competition.  Teams are encouraged to join the region that is at its approximated location.
  7. A team leader should be identified for each team, who will be point-of-contact with the Competition organizer.
  8. The team is not required to be a business registered company. The team can be an early stage company that had established no more than 3 years.  The company can be at inventor stage or seed stage where there is an idea, a concept, or even a product, with little or no income has been generated yet.  
  9. Team name has to be the same as company name and it is not allowed to be changed during the competition.
  10. Companies that have received prior investment or annual revenue or funding support from government or other institutions of more than HKD2,000,000 are NOT allowed to join the Competition.
  11. Top 3 awardees from previous years’ Competitions in any region are NOT allowed to join the Competition. Previous awardees will not be considered for the same award.
  12. The equity of the company should not be changed during the Competition.
  13. HKUST Track Winning teams must be a registered company to get the cash award and are expected to form their companies in Hong Kong. 

International Student Track

  1. The International Student Track is by invitation only and teams need to seek nomination from partner universities to join the Competition.
  2. The team must have at least 1 partner university’s current student (full-time and part-time students at all levels)
  3. The size of each team must be between 2 to 10 members for application. All team members must be registered members of the team.
  4. The university student(s) must hold at least 51% ownership in the proposed company.
  5. Each team is ONLY permitted to submit a Pitch Deck (with minimum 5 pages but no more than 10 pages) for Round 1 Assessment.
  6. Each participant can only join up to 1 team.  Each team can only join up to 1 regional competition. 
  7. A team leader should be identified for each team, who will be point-of-contact with the Competition organizer.
  8. The team is not required to be a business registered company. The team can be an early stage company that had established no more than 3 years.  The company can be at inventor stage or seed stage where there is an idea, a concept, or even a product, with little or no income has been generated yet.  
  9. Team name has to be the same as company name and it is not allowed to be changed during the competition.
  10. Companies that have received prior investment or annual revenue or funding support from government or other institutions of more than HKD2,000,000 are NOT allowed to join the Competition.
  11. Top 3 awardees from previous years’ Competitions in any region are NOT allowed to join the Competition. Previous awardees will not be considered for the same award.
  12. The equity of the company should not be changed during the Competition.
  13. International Track Winning teams must be a registered company in either Hong Kong or their home country to get the cash award.

 

Team Eligibility for Round 2 Assessment

HKUST Track

  1. Top 30 teams (including the fast-tracked) from Round 1 will be selected to enter the Round 2 Assessment.
  2. Up to 5 winning teams from internal and external competitions recognized by the Entrepreneurship Center can be fast-tracked to Round 2 of the Competition.
  3. Teams which was not shortlisted in Round 1 can join into the other shortlisted teams.
  4. HKUST faculty or student or alumni or staff who did not submit their applications can have their second chance to participate in the Competition by joining into one of the shortlisted teams.
  5. Teams which are composed of HKUST full-time students only will be considered for the Student Team Award.
  6. Each team is required to submit a 5-min Pitch Deck in PPT/PDF format, 1-min Product Introduction Video in MP4 format and a video thumbnail in  JPG/PNG format. Details please refer “Submission Rules”.
  7. Each team has a chance to give a 5-min Presentation and prepare for the 3-min Q&A session.  The pitch will be conducted in Zoom.
  8. One or more member can do the 5-min Pitch & 3-minute Q&A session, but at least one HKUST member in the team should be involved in the pitching.

International Track

  1. Top 20 teams from Round 1 will be selected to enter the Round 2 Assessment.
  2. Each team is required to submit a 5-min Pitch Deck in PPT/PDF format. Details please refer “Submission Rules”.
  3. Each team has a chance to give a 5-min Presentation and prepare for the 3-min Q&A session.  The pitch will be conducted in Zoom.
  4. One or more member can do the 5-min Pitch & 3-minute Q&A session, but at least one university member in the team should be involved in the pitching.

 

Team Eligibility for Final Round Assessment

HKUST Track

  1. Top 10 teams will be selected to enter the Final Round Assessment according to the 5-min Pitch & 7-minute Q&A session.
  2. Each team is required to submit a 5-min Pitch Deck in PPT/PDF format and one Exhibition Poster in PDF/AI/TIFF format. Details please refer “Submission Rules”.
  3. It is strongly encouraged all members of each team to attend the Business Plan Presentation on 4 October 2024.
  4. Only registered member is allowed to speak in the Final Round, including presentation and Q&A session. One or more members can do the presentation but at least one HKUST member should be involved the presentation.

International Track

  1. Top 5 teams will be selected to enter the Final Round Assessment according to the 5-min Pitch & 7-minute Q&A session.
  2. Each team is required to submit a 5-min Pitch Deck in PPT/PDF format and one Exhibition Poster in PDF/AI/TIFF format. Details please refer “Submission Rules”.
  3. It is strongly encouraged all members of each team to attend the Business Plan Presentation on 4 October 2024.
  4. Only registered member is allowed to speak in the Final Round, including presentation and Q&A session. One or more members can do the presentation but at least one university member should be involved the presentation.

 

Important Note:

  1. By submitting a business plan, the team represents and warrants the team has all right, title and/or interest in the business plan submitted and the information it contains is accurate and complete, and that by submitting the document the team is not and will not be violating any contract or third party rights including any patent, copyright, trade secret, proprietary or confidentiality information, trademark, publicity or privacy right. In addition, the team must have the relevant IP usage right of the technology or innovation proposed to further develop the business. The competition committee reserves the rights to request at any time the appropriate proof from the team on the IP rights.
  2. Participants must not make any statement, comments or issue any materials that are political, violent, discriminatory, unlawful, infringing, hateful, sexually suggestive via the Competition or that are derogatory, defamatory or adverse to the reputation of any sponsor or partner of the Competition or the Competition Event.
  3. At least one HKUST member (HKUST Track) / university member (International Track) in the team should attend all compulsory events and presentations of the Competition.
  4. All teams are expected to abide by the rules enumerated above. HKUST reserves the right to disqualify any teams that fail to conform to the rules of the Competition.
  5. HKUST Track Teams entering Final Round Assessment must attend the exhibition to be held later in the year during the Grand Final. By submitting a business plan, the teams agree to share their information to Entrepreneurship Center for publicity and communication with the investment community. For materials that are highly confidential and proprietary, the team should make special note to EC for special handling of such information.
  6. Photos & videos taken during the events will be used in promotion & media coverage by HKUST.
  7. Depending on the situation, the events may be held face-to-face, mixed-mode or online events. 
  8. Entrepreneurship Center may change the event date and mode pending unexpected changes in the circumstances and will update/consult applicants if the need arises.