+ The Cash Awards category and amounts are for reference only, the confirmed Cash Awards category and/or amounts will be announced later. Please check our website: http://onemilliondollar.ust.hk for updates.
* Student Team Prize will be awarded to the teams which are composed of HKUST full-time students only. In total 2 teams with best performance in this competition will get the award.
# “Interschool Members” means the team is composed of members coming from more than 1 schools within HKUST. E.g. 1 SBM student + 3 SENG students or 2 SSCI students + 2 SBM Alumni, etc.
** These are the tentative industries for the Focus Area Award, the actual industry, the amount and naming of each award may change according to the industry sponsors. Each team is only qualified to be considered in one of the Industries. When filling in the online application form, the team has to declare their Primary Industry for this purpose.

In-Kind Contribution and Services

1. To encourage participants to get their businesses going, and further reinforce the practical focus of this Competition, we have put together a suit of services for the grand prize winners. This includes a 1-year free co-working space at the premises of HKUST Entrepreneurship Center and other business support services such as coaching, networking.
2. Cash and in-kind awards are to be used by the winning individuals/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.

Payment Distribution

1. The equity of the winning companies should not be changed.
2. Winning teams must be a registered company to get the cash award and are expected to form their companies in Hong Kong. The company name should be the same as the team name.
3. The recipients of prize money will be responsible for the tax implications of their winnings.
4. The disburse of the cash award will be according to the milestone achievement of the winning companies. (milestone setting to be discussed)
5. HKUST reserves the right to withhold or to defer in whole or in part of any of the cash and/or and in-kind contribution awards if the winning teams violate the above conditions.