HK Tech 300 Southeast Asia Start-up Competition launched by City University of Hong Kong
The highly anticipated innovation and entrepreneurship program, now available in Southeast Asia, has been expanded by the City University of Hong Kong to support start-ups, innovation, and technological advancement in the region. The first-ever HK Tech 300 Southeast Asia Start-up Competition (HK Tech 300 SEA Competition) was officially launched on Monday in Kuala Lumpur, Malaysia.
City University of Hong Kong’s HK Tech 300, a sizable flagship innovation and entrepreneurship program, was organized with a commitment of up to HK$600 million ($76.46 million), the university said in a statement.
The universities and incubators in the area that are participating in the HK Tech 300 SEA Competition are Universiti Malaya (UM) and Universiti Putra Malaysia (UPM) from Malaysia, Universiti Brunei Darussalam (UBD) from Brunei Darussalam, Chulalongkorn University from Thailand, Malaysia Digital Economy Corporation (MDEC), Selangor Information Technology and Digital Economy Corporation (SIDEC), and various chambers of commerce.
The most promising start-ups in the area will be invited to participate in the competition through these partners.
Each of the top ten winners will receive an Angel Fund investment of up to HK$1 million ($130,000), giving their business endeavors a major boost.
“We are thrilled to expand our successful HK Tech 300 initiative to Southeast Asia,” said Professor Way Kuo, President and University Distinguished Professor of the City University of Hong Kong.
“This competition presents a unique opportunity for aspiring entrepreneurs in the region to gain exposure and secure funding for their projects, and will help translate City University of Hong Kong’s outstanding research into applications, which can have a transformative impact on the entrepreneurship landscape here.”
“We are excited to witness the positive impact of HK Tech 300 on the region and are committed to supporting and empowering innovative ideas in this part of the world,” he added.
The HK Tech 300 program has made significant progress toward its objective of establishing 300 start-ups in three years since its launch in March 2021.
The program, which will receive a total of HK$500 million ($63.71 million) in 2021, is a calculated move to turn the ground-breaking research findings and intellectual property of the City University of Hong Kong into useful applications while also offering valuable chances for young talent and aspiring entrepreneurs to develop and learn.
The university added an extra HK$100 million ($12.74 million) this year to support the program.
Over 560 start-up teams have been nurtured by HK Tech 300, and each one received a Seed Fund of HK$100,000 ($12,743). Additionally, it has invested up to HK$1 million ($130,000) in Angel Funds for over 110 start-up businesses.
