HKUST One Million Dollar Entrepreneurship Competition
The Hong Kong University of Science and Technology is pleased to announce the seventh annual One Million Dollar Entrepreneurship Competition ("Competition") will take place in June 2017. The Competition will start with Exhibition and Elevator Pitch on June 8, 2017 (Thursday) followed by a Business Plan Evaluation held on June 9, 2017 (Friday).
Witnessing the growth of entrepreneurial activities in our region, the Competition aims to provide a platform for HKUST and surrounding community members an integrative learning experience to create and evaluate new business and to prepare students to start their future career in entrepreneurship. Winners of the Competition can use the cash prize as seed money to build their own company or to further the commercialization of their inventions. To encourage teams with plans utilizing HKUST technologies and/or have members from different schools within HKUST, they will be eligible for additional cash awards, if they are winners of the Gold, Silver, or Bronze Awards at the Final Round of judging.
Further to encourage students to participate in this competition and putting their idea into action to realize their dreams, this year we are introducing the Focus Area Awards, which will be selected among all Round 1 entries. We will work with different professionals in the industries to sponsor this award in different areas of interest, e.g. Healthcare, Robotics & AI, Environment & Sustainability, Materials, Fintech and Social Services & Enterprise, etc. We will invite experts in these areas to select, among all the Round 1 entries the awardees to receive the award and keep developing their ideas. For details, please refer to the Awards section. We have also doubled up our awards in the Student Team Prize, where there will be 2 teams composed of HKUST full time students selected for this award.
Building on the success from last year, we will continue to have this competition in 5 different regions including this one in our Clear Water Bay Campus. The 3 winning teams will then compete with other winning teams from Beijing, Guangzhou, Macau and Shenzhen in the Grand Final, which will be held in August 2017 in Nansha, Guangzhou. And the top 12 teams will all be invited to join the exhibition held during the Grand Final.
Participants: The Competition is open to all full-time and part-time students at all levels, post-docs, alumni, researchers, faculty and staff from all departments within HKUST. It is also open to local, mainland and international schools who want to compete in this Competition under the condition that the team must have at least one HKUST faculty or student or alumni or staff.
Submissions: All submissions will be in English and must be submitted online (http://onemilliondollar.ust.hk), no paper entries will be accepted. There will not be a limit on the topics for submission, however, we encourage applicants to focus on the technology and innovation driven business. The topics can be related to nanotechnology, information technology, renewable energy, environment, healthcare, financial services, logistics and social enterprise. For submission details, please refer to "Application & Eligibility", "Submission Rules".
Judging Process: The assessment process consists of 3 rounds: Executive Summary, Short Business Plan and Full Business Plan Presentation which will take place from February to June 2017. For details of the judging process, please refer to "Judging Process".
Awards: Winners of the seventh annual One Million Dollar Entrepreneurship Competition will be awarded a package composed of cash, 1-year free co-working space usage and in-kind services. The Competition will also provide the participants a chance to introduce their business plans to an international panel of investors and executives, while making a name for themselves within the HKUST community and in Hong Kong.
Application Deadline: We invite interested parties to submit their online applications and 2-page Executive Summary of their business plan for the Round 1 Assessment on or before March 19, 2017.