HKUST-Sino One Million Dollar Entrepreneurship Competition 2020
- The Judges shall be experienced entrepreneurs, investors, academics and industrial professionals appointed by Entrepreneurship Center.
- HKUST and the Judging Panel reserves the right to disqualify any entry that in its judgment violates the “Application & Eligibility” and/or “Submission Rules” of the Competition.
- HKUST and the Judging Panel reserve the right to amend the procedure and/or the timing for the competition on one or more occasions without giving prior notice to any of the participants. HKUST and the Judging Panel reserve the right to decide that all or any of the entries or plans do not meet the judging criteria, or to defer in whole or in part all or any of the cash and/or in-kind contribution awards to the following year.
- The decisions of the Judging Panel are final and binding.
The assessment process consists of 3 rounds and the winners will be announced after the Competition.
Round 1 assessment
March 16, 2020 ( New Updates) Deadline of Application March 16, 2020 ( New Updates) – 24, 2020 Evaluation of All Entries March 25, 2020 Result Announcement of Round 1 Assessment
Round 2 Assessment
April 14, 2020 Deadline of Pre-recorded Video Submission April 15 – 26, 2020 Evaluation of All Submission & Online Voting April 27, 2020 Announcement of Top 24 teams in the Pre-recorded Video April 28, 2020 Online Live Elevator Pitch April 29, 2020 Result Announcement of 12 Finalist Teams
Round 3 Assessment
May 24, 2020 Deadline of Full Business Plan Submission June 3, 2020 Business Plan Presentation*
The arrangement of the Round 3 Assessment will be depended on the healthcare situation to have further announcement. ( New Updates)
*Faculty members are not allowed to make the presentations but welcome to join Q&A session.
Judging Process of Each Round
(A) Round 1 Assessment: 1-page Executive Summary
The core assessment of the entries will focus on the innovativeness, feasibility and viability of the proposed product.
- All applications will be evaluated by a judging panel formed by Entrepreneurship Center using a common “Executive Summary Judging Criteria”. A maximum of 50 entries will be selected to enter the Round 2 Assessment.
- For the Focus Area Awards, the center will invite industry experts and/or sponsors to select the awardees.
(B) Round 2 Assessment: Pre-recorded Video for Product Introduction and Online Live Elevator Pitch
The core assessment of the entries will focus on the value proposition and impact of the product/services you are providing.
Considering the health and safety of participants , the Exhibition will be replaced by a pre-recorded video.
Pre-recorded Video for Product Introduction
- Top 50 teams is required to submit a 1-min video video.
- Each video will be assessed by 3 or more independent judges formed by experienced entrepreneurs, investors, academics and industrial professionals. They will make their evaluations and score the teams according to a common “Video Presentation Judging Criteria”. 24 teams with highest scores will enter the Online Elevator pitch.
- The videos will be uploaded to the Competition website for online voting by HKUST members.
- The Best Video Award (3 places) will be decided based on the online voting.
Online Live Elevator Pitch
The Online Live Elevator Pitch will take place on April 28, 2020.
- Each Team is required to make a 60-second elevator pitch in front of a Judging Panel of 3 Judges followed by up to 3 minutes of Q&A by the Judging Panel.
- The Judging Panel will make their evaluations and score the teams according to a common “Elevator Pitch Judging Criteria” and select the 12 finalist for Round 3.
- Elevator Pitch Award will be decided after a joint deliberation of the Judging Panel.
(C) Round 3 Assessment: Full Business Plan
Depending on the situation, the Business Plan Evaluation may be changed to online or in mixed-mode instead of face-to-face meeting with the judges. Further announcement will be made in May. ( New Updates)
1. Business Plan Presentation
The Round 3 Business Plan Presentation will take place on Jun 3, 2020. The 12 Teams will be divided into 2 groups of 6 teams. The full business plan should explain the practicability of the plan execution and fundability potential.
- Each team will conduct a 10-minute, uninterrupted Business Plan presentation in English followed by up to 10 minutes of Q&A by the Judging Panel of 3 Judges. It is not compulsory for all team members to speak in the presentation. But the whole team should be there for the Q&A section, the judging panel would ask questions to specific members of the team as per their role and expertise inside the team.
- The Judges will make their evaluations and give their scores by using a common “Business Plan Judging Criteria”.
- The 3 top scoring teams from each group will enter the Final Round Presentation.
2. Final Round Business Plan Competition
- The final round Business Plan Presentation will be judged by a new set of judges.
- The 6 highest scoring teams will make the Business Plan Presentations. Each team will conduct a 10-minute, uninterrupted Business Plan presentation in English followed by up to 15 minutes of Q&A by the Judging Panel. It is not compulsory for all team members to speak in the presentation but the whole team should be there for Q&A.
- The Judges will adopt the common “Final Round Presentation Judging Criteria”.
- Three winning teams will be decided after a joint deliberation of the Final Round Judging Panel.
- The winner of the “Innovation Award” will be decided after a joint deliberation of the Judging Panel.