The Technology Transfer Center (TTC) and Entrepreneurship Center (EC) of the Hong Kong University of Science and Technology (HKUST) hosted the HKUST Startup x Investors 2018 on 4 December 2018 to connects HKUST technopreneurs and start-ups with the investment community and professional networks.
37 HKUST Technology start-ups from 5 technology areas participated in this event to showcase their innovative technologies, breakthrough business ideas, remarkable products and unique services. 20 of them are the awardees of the competitive Technology Start-up Support Scheme for Universities (TSSSU), provided by Innovation and Technology Commission. Others are the companies under the HKUST Entrepreneurship Program (EP) and other entrepreneurship programs from EC, as well as companies from the Mainland Platforms. The event attracted 179 participants including investors from over 100 organisations of various business sectors.
At the welcome speech, Professor Wei Shyy, President of HKUST emphasized the importance of innovation and entrepreneurship and HKUST engagement in assisting and stimulating the entrepreneurial culture.
At the pitching session, each start-up gave a 2-minute presentation to present their business model, service and products. Apart from pitching, each start-up had a poster presentation and prototype demonstration at their booth to promote their technologies and products. By mingling with other start-ups and guests, HKUST technopreneurs were able to exchange ideas with each other and got inspiration in further developing their business. The event not only facilitated the connection between the HKUST technopreneurs and the business community, but also gave an opportunity for the business community to learn more about the HKUST technopreneurs.
The participating start-ups considered the event as beneficial by connecting them with potential investors and other HKUST technopreneurs. Some start-ups were approached by investors for future collaborations. “The event stimulated interest among potential investors for our upcoming fundraising round.” The company delegate of Incus Company Limited said, “We are glad that potential collaboration partners are found in the event.” Delegate from Magnum Research Limited cherished the opportunity for hearing feedback from potential investors, “We were able to reach out to both potential investors and talents at the university via both pitch session and booth mingling session. “ Start-ups are grateful for the opportunity and would like to participate in similar kind of event in the future.
TTC hosted the HKUST Technopreneur Outreach Day with the Office of Knowledge Transfer (OKT) of HKUST in 2017, showcasing 19 HKUST Technology start-ups funded by TSSSU. The event attracted 100 participants including investors from various business sectors. Being well-received by HKUST technopreneurs and guests, the event has expanded the scale by doubling the participating start-ups and guests as well as collaborating with other knowledge transfer units in 2018, making it the flagship event of TTC.
About Technology Start-up Support Scheme for Universities (TSSSU)
TSSSU, a programme under the Innovation and Technology Fund (ITF), has been launched by the Innovation and Technology Commission (ITC) since 2014. The programme aims at encouraging students and faculties to start up technology businesses and commercialise their research and development (R&D) results as well as providing better support for technology start-ups to translate new ideas into business opportunities.
For the past five years, the ITC had provided an annual funding of up to HK$4 million to each university on a reimbursement basis for expenses incurred by the University recommended technology start-ups. 40 technology start-ups from the HKUST have received the funding support to build up their business.
To learn more about the TSSSU companies, please visit http://ttc.ust.hk/index.php?specpage=startup
About HKUST Entrepreneurship Program (EP)
EP was introduced in 1999 to assist faculty, staff, students and alumni in their entrepreneurial endeavors to start-up companies. The Program offers an incubation period with a package of services to the start-up companies accepted into the Program. The accepted companies may apply for space in HKUST for incubation purpose at cost, as determined by the University. Due to the limitation of space on campus, the University may collaborate with local qualified incubators to provide space to the accepted companies, at a cost to be determined by the University and the collaborative incubators. The Program has helped the formation of 60 technology start-ups in the Clear Water Bay campus.
About Technology Transfer Center (TTC)
TTC at HKUST serves as a bridge between HKUST research community and the business sector, identifying collaboration opportunities in the local, regional and international markets based on HKUST's research strengths. TTC monitors primary and emerging fields of research within HKUST for early recognition of commercialization potential; manages intellectual properties arising from HKUST research works; supports faculty and students in their endeavors to pursue university-industry collaboration, entrepreneurship and technology commercialization.
About Entrepreneurship Center (EC)
EC, established in 1999 initially as Entrepreneurship Program, is a center to support innovation and entrepreneurship in the campus. It runs activities and funds to foster an entrepreneurial campus and cultivate a risk-taking value-creation mindset. Through direct encouragement and engagement of the HKUST community (students, alumni, professors and support staff), we strive to nurture next-generation entrepreneurs whose companies make commercial, social or cultural impacts for the economic and social development of Hong Kong and other regions.
Group photo of Professor Wei SHYY, the President and HKUST technopreneurs
Welcome speech by Professor Wei SHYY
Poster and Discussion Session
Start-ups are able to connect with guests at the their booth during the Poster and Discussion Session