Morris S. Smith Foundation
Larry Franklin Trustee
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HKUST One Million Dollar Entrepreneurship Competition
The Hong Kong University of Science and Technology is pleased to announce the sixth annual One Million Dollar Entrepreneurship Competition ("Competition") will take place in June 2016. The Competition will start with a Trade Show on June 1, 2016 (Wednesday) at HKUST campus followed by a Business Plan Evaluation held on June 2, 2016 (Thursday) at Hong Kong Club Building, 15/F, 3A Charter Road, Central, Hong Kong respectively.
Witnessing the growth of entrepreneurial activities in our region, the Competition aims to provide a platform for HKUST 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 whose plans utilize 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 1st, 2nd, or 3rd prizes at the Final Round of judging.
In addition, with the encourage results from last year, we will continue to invite international teams for International Team Prize. This award will provide an opportunities for interaction and engagement between international communities and HKUST.
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.
International teams, which would not be required to have any members affiliated with HKUST, will be admitted upon invitation only, and will compete for the International Team Prize.
Submissions: All submissions will be in English and must be submitted online (http:// onemiUwndollar.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 2016. For details of the judging process, please refer to "Judging Process".
Awards: Winners of the sixth annual HKUST One Million Dollar Entrepreneurship Competition will be awarded a package composed of cash, 1-year free 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 for the Round 1 Assessment on or before February 12 2016:
(1) 2-page Executive Summary of their business plans
(2) Copy of bank-in-slip of HKD300. The collected entry fees will be made part of the "Student Team Prize".
Important Note: Your application will be accepted and processed provided the above two items are submitted on or before the deadline.