Record-breaking 80 Start-up Teams Awarded CityU HK Tech 300 Seed Fund Embarking on Entrepreneurship Journey with New Cohort of Mentors
City University of Hong Kong (CityU) held the third round of the Seed Fund Presentation Ceremony on 16 December for its large-scale flagship innovation and entrepreneurship programme titled HK Tech 300. A record-breaking 80 start-up teams were presented with HK$100,000 each in seed funding. In addition, appreciation certificates were presented to the new cohort of 34 mentors for their support for the young start-up teams commencing their entrepreneurship journeys.
President Way Kuo of CityU officiated at the ceremony held at the HK Tech 300 co-working space in Admiralty. In his opening remarks, he shared that CityU was committed to nurturing the young generation by promoting the integration of research and teaching. The research achievements of CityU’s faculty and researchers were also well recognised, he said.
Nurturing technology and innovation talent and driving knowledge transfer motivated CityU to launch the HK Tech 300 programme. The University is glad to see the programme receive positive responses from different sectors, especially with the involvement of seasoned entrepreneurs, industrialists, representatives of chambers and commerce, and other professionals as mentors for the start-up teams.
“Let’s work together to nurture more start-ups that can flourish in the entrepreneurial ecosystem and thus contribute to innovation and technology development throughout Hong Kong and beyond,” said President Kuo.
Since its launch in March this year, HK Tech 300 has received an overwhelming response. Together with the 65 start-up teams that were successful in the first two rounds of seed funding, the programme has nurtured a total of around 150 start-up teams in Biotech and Health, Business and Fintech, Deep Tech, EduTech and EnviroTech, and Information and Communications Technology and Artificial Intelligence.
In addition to the provision of HK$100,000 in seed funding to each of the teams, HK Tech 300 provides a range of support, including entrepreneurship training and business networking. The start-up teams will be guided on their journey through a mentorship scheme. CityU has specially set up co-working space at its main campus in Kowloon Tong and in the business district in Admiralty to facilitate start-up teams’ interactions and business engagement.
“CityU not only offers an academic degree, it is also committed to paving the way for young people to set off on their start-up journey,” said Mr Wayne Tan Wing-kang, Executive Director of the Hong Kong Bio-Med Innotech Association, one of the first cohorts of HK Tech 300 mentors.
“CityU is enthusiastic in inculcating the proper entrepreneurial mindset, demonstrating the University’s determination to nurture talent,” he added.
Mr Tan uses his experience, professional background and business network to mentor HK Tech 300 start-up teams, adding that he was pleased to witness the growth of his mentees, who have received awards in start-up competitions and started to establish their own models for business development.
Dr Alan Lam Hiu-fung, Founder and CEO of Sengital Limited, and an Adjunct Professor in the Department of Electrical Engineering at CityU, has joined the programme as a new mentor. He praised HK Tech 300 for successfully assembling leaders and elites from industry, and for forming a strong back-up network for supporting the start-up teams.
“HK Tech 300 has cultivated a spirit of mutual help and so formulated a unique start-up ecosystem,” he said. Through a re-evaluation of the professional background of each individual as well as the competitive edge of the teams, he is looking to assist in developing sustainable business models, preparing for future opportunities and challenges so that teams ultimately emerge as successful start-up companies.
About HK Tech 300
Under the theme “Venture Beyond Boundaries”, HK Tech 300 is a large-scale flagship innovation and entrepreneurship programme launched by CityU for aspiring entrepreneurs among CityU students, alumni, research staff and others who are keen to establish start-ups and ignite their entrepreneurship journey. The allocation of HK$500 million entails comprehensive support for entrepreneurship training, a seed fund of HK$100,000, an angel fund of HK$1 million, co-working space, and networks within industry and commercial communities. HK Tech 300 aims to create 300 start-ups in three years, provide educational and growth opportunities for CityU students, and translate CityU research results and intellectual properties into practical applications.