HK Tech 300 startup competition expands to Southeast Asia
Hong Kong is known for its startup community. Over the years, many groundbreaking innovations have been created by startups hoping to make a difference in the world. Some of these startups like Lalamove and Klook have even gone on to become huge businesses in the region today, contributing highly to the economy.
The success of startups is often associated with the universities that allowed them to develop their ideas in the first place as well. The City University of Hong Kong launched the HK Tech 300 program in March 2021, with a goal of creating 300 startups within three years.
With a total allocation of HK$500 million in 2021, the program is a strategic move to translate City University of Hong Kong's groundbreaking research results and intellectual property into practical applications, while simultaneously providing valuable opportunities for young talent and aspiring entrepreneurs to grow and learn. To further support the program, the university added an additional HK$100 million this year.
To date, HK Tech 300 has cultivated more than 560 start-up teams, each of which received a HK$100,000 Seed Fund, and it has provided up to HK$1 million in Angel Fund investment to more than 110 start-up companies. Riding on the success and positive impact of the Programme, City University of Hong Kong has expanded the HK Tech 300 initiative to southeast asia, with Malaysia chosen as the location for the launch of the inaugural HK Tech 300 SEA competition, demonstrating its vision and determination to make HK Tech 300 the biggest university-based innovation and entrepreneurship program in Asia.
The expansion aims to promote technology transfer and commercialization in the region, showcasing the University's commitment to support Southeast Asian start-ups in expanding their business to Hong Kong, Mainland China and the whole region, leveraging the unique advantages and resources available in Hong Kong.
According to Professor Way Kuo, President and University Distinguished Professor of 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.”
The HK Tech 300 SEA Competition is being held in partnership with universities and incubators in the region, including 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.
Through these partners, the Competition will bring together the most promising startups in the region to join the competition. The Top 10 winners will each be awarded Angel Fund investment of up to HK$1 million, providing a significant boost for their entrepreneurial endeavors.