Application and Eligibility
HKUST-Sino One-Million-Dollar Entrepreneurship Competition 2021
- Application is open from February 1 to April 14, 2021.
- Teams must apply online (https://ecenter.ust.hk/events/hkust-sino-one-million-dollar-entrepreneurship-competition-2021-0). No paper entries will be accepted.
- Entries must be the original work of entrants.
- Team required to submit a 1-page teaser through their online applications. Details please refer “Submission Rules”.
Find your Teammates
Participants may find your teammates via the latest app of HKUST Entrepreneurship Center (EC App). Please refer to this link for the detailed instructions of teaming up with others by EC App. https://onemilliondollar.ust.hk/matching.
Team Eligibility for Application
- The Competition 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).
- Anyone can apply for the Competition. The team must have at least one HKUST faculty or student or alumni or staff. This applies to mainland or international teams who wish to compete in this Competition.
- Teams with faculty as advisor have additional scores in Round 1 assessment.
- The size of each team must be between 1 to 8 members for application. Teams entered Round 2 can add more members (team size up to 10) via the matching session. All team members must be registered members of the team.
- Each team must have at least 1 member with at least 20% ownership in the proposed company.
- Each team is ONLY permitted to submit 1 Executive Summary for Round 1 Assessment.
- Each participant can only join up to 1 team for Round 1 Assessment. Each team can only join up to 1 regional competition. Teams are encouraged to join the region that is at its approximated location and those who join more than 1 regional competition will be disqualified.
- A team leader should be identified for each team, who will be point-of-contact with the Competition organizer.
- 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. Team name has to be the same as company name and it is not allowed to be changed during the competition.
- Companies that have received prior investment or annual revenue or funding support from government or other institutions of more than HKD1,500,000, or ventures that have been in establishment / operation for more than 3 years, are NOT allowed to join the Competition.
- 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.
- The equity of the company should not be changed during the Competition.
Team Eligibility for Round 2 Assessment
- Top 50 teams from Round 1 will be selected to enter the Round 2 Assessment.
- Up to 40 winning teams from internal and external competitions recognized by the Entrepreneurship Center, as well as nominated teams by all schools in HKUST can be fast-tracked to Round 2 of the Competition.
- Team size in this round must be between 2 to 10 AND must have at least one HKUST faculty or student or alumni or staff. Teams should confirm the team list by May 14, 2021 and changes are not allowed by then.
- Tech-ship matching: Materials from shortlisted teams will be sent to HKUST Technology Transfer Center (TTC) for evaluation. If there is any suitable HKUST technology, TTC will recommend to the teams for matching.
- Teams which was not shortlisted in Round 1 can join into shortlisted teams in the Matching Platform.
- 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.
- Teams which are composed of HKUST full-time students only will compete in the UST Student Track. Other teams will compete in the Main Track.
- 8. Teams must attend at least 80% of training sessions in this round.
- 9. Each team is required to submit a Product Introduction Video and Poster in MP4 format and PDF format respectively.
Team Eligibility for Round 3 Assessment
- Top 10 from UST Student Track and Top 18 from Main Track will be selected to enter the Round 3 Assessment according to the Product Introduction Video review panel.
- Each team is required to submit one Short Business Plan of 3-5 ppt slides in PDF format.
- Each team has a chance to give a 3-minute Pitch to the judges with the 3-5 ppt slides and followed by up to 6 minutes Q&A session from the panel. The pitch will be video recorded.
- One or more member can do the 3-minute Pitch, but at least one HKUST member in the team should be involved in the pitching.
Team Eligibility for Final Round Assessment
- Top 3 from UST Student Track and Top 6 from Main Track will be selected to enter the Final Round Assessment according to the 3-minute Pitch
- It is strongly encouraged all members of each team to attend the Business Plan Presentation on July 21, 2021.
- 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.
- By submitting a business plan, the team represents and warrants the team have 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.
- 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.
- At least one HKUST member in the team should attend all compulsory events and presentations of the Competition.
- All teams are expected to abide by the rules enumerated above. HKUST reserves the right to disqualify any application that fails to conform to the rules of the Competition.
- 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.
- Photos & videos taken during the events will be used in online voting, promotion & media coverage by HKUST.
- Entrepreneurship Center may change the dates pending unexpected changes in the circumstances and will update/consult applicants if the need arises.
- By default, all events will be held online. Depending on the situation, it may be changed mixed-mode or face-to-face events.