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Saturday, January 26, 2013

HKUST 2013 One Million Dollar Entrepreneurship Competition


HKUST 2013 One Million Dollar Entrepreneurship Competition

I am very pleased to officially announce the launch of the "HKUST 2013 One Million Dollar Entrepreneurship Competition" which will be held on 30 May 2013 at Hong Kong Club Building, 15/F, Central, Hong Kong.
The Competition is open to all full-time and part-time students at all levels including post-docs, as well as alumni, faculty and staff from all academic departments within HKUST. This year, we also open it to local, mainland and international schools with the condition that the competing teams must have at least one HKUST member in their organization and their business proposals should have a primary focus of starting an innovative business in this region. Applicants who might need support in finalizing their business ideas can receive support from our mentor pool that is available in our web pages.
All submissions will be in English and will be made online: (online form).

There will not be a limit on the topics, however, we encourage applicants to focus on the emerging areas such as, nanotechnology, information technology, renewable energy, environment, health, financial services, logistics and social entrepreneurship. For other details, please refer to: 
Winners of the “HKUST 2013 One Million Dollar Entrepreneurship Competition” will be awarded a package worth over HKD One Million composed of cash and in-kind contributions.
We invite interested local, regional and international teams interested in our Competition to submit their applications composed of the following on or before 25 February 2013:
    (1) Maximum 2-page Executive Summary of their business ideas
    (2) “Intent to Compete Form”
    (3) Copy of bank-in-slip of HKD300 (The collected entry fees will be made available for the “Student Prize”)
Important Note: Your application will be accepted and processed if and only if the above three items are submitted on or before the deadline.
We look forward to your active participation.

Prof. Ali Beba, PhD
Chair, Entrepreneurship Competition
email :

website :

Competition Procedure

Submission of Application:
Application Deadline: 25 February 2013. 

Each team must submit online (online form), no paper entries will be accepted.

Each application is required to complete the “Intent to Compete” form and upload 2-page Executive Summary, copy of bank-in slip through their online applications.

Applicants who might need support in finalizing their business ideas can receive support from ourmentor pool that is available in our web pages.

2-page Executive Summary :(guidelines)
  1. All executive summaries must not exceed 2 pages, single-spaced, A4 size (standard 8.4”x 11”).
  2. Must include team name, team leader, exhibits and contents, page number. (Additional covering sheet, title page, appendices, or other pages are not allowed and will result in disqualification).
  3. Submitted in PDF format.
PS : You may include images and select any font, but unreadable entries (as determined by the organizers) will be disqualified.

Intent to Compete Form :

Please fill in the details of the Form online (online form)

Copy of Bank-in Slip :

Upload the copy of the bank-in slip 

Note: Applications will not be accepted if either one of the document is missing.

Selection of Finalists : A maximum of 12 successful entries will be asked to enter into the Final Round of the Competition. Announcement of the maximum 12 finalists will be made on 17 April 2013.

Support for the Finalists : One full-day workshop (27 April 2013) will be offered to the members of the finalist teams in order to sharpen their business plans and presentation skills. These teams will also be matched with the experienced mentors who will provide them consultation to help the team’s BP (content and format) from 22 April 2013 to 29 May 2013.

Competition Day Activities (30 May 2013) 
The finalist teams will be invited to participate the Competition day activities. All finalists will be expected to participate in all the following activities :

Trade Show : Finalists will display their business proposals on tables that will be made available for them on the Final Competition day. They will use their own display boards or digital media as needed.

Elevator pitch : Each Finalist Team will have 90 seconds to give an uninterrupted pitch in English, which will be followed by 3 minutes of Q&A by the judges who will consist of representatives from the industry, academia and active angel investors.

Business Plan Presentations: Each Finalist Team will have 15 minutes to give an uninterrupted Business Plan presentation in English followed by up to 12 minutes of Q&A and 3 minutes of feed-back by the judges as to how their business plans can be further improved and developed for future activities. At the end, only four teams will be selected for the Funding Round Presentations.

Funding Round Presentations : Four selected finalist teams will make their BP presentations in English to a new set of judges, by following the procedure and timing identical to their 1st round presentations.

Judges Deliberation : Judging criteria will be business viability, revenue, job creation, sustainability as well as profit or social impact potential. The Trade Show, Elevator Pitch and Business Plan Presentations have their own specific criteria for evaluation and the team of judges for each of these competitions will change.

Award Ceremony (31 May 2013) : All finalist teams will be invited to the award ceremony that will be held at The Hong Kong Bankers Club (43/F, Gloucester Tower, The Landmark, Central, Hong Kong). Deliberation of the winners will be made and awards will be given to the winners during the ceremony that will include a dinner.

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