HKUST 2013 One Million Dollar Entrepreneurship Competition Fosters Entrepreneurial Spirit
The Hong Kong University of Science and Technology (HKUST) held the annual HKUST One Million Dollar Entrepreneurship Competition with total awards amounting to HK$1 million to foster entrepreneurship. The championship went to Solaris, while Agito Group Limited and Inno-Chemos (International) Technology Limited were the second place and third place winners respectively.
This year, 85 teams participated in the Competition. Each team consists of at least one member of faculty, staff, students and alumni from HKUST's schools of Science, Engineering and Business. An international judging panel comprising leading executives, professional investors and entrepreneurial academics selected 12 finalists.
Prof Ali Beba, Chair of the Competition and Director of the Entrepreneurship Center said, "HKUST continues to foster the spirit of entrepreneurship with the HKUST One Million Dollar Entrepreneurship Competition, which helps winning teams develop their innovative businesses. The Competition has achieved success year after year, and we are pleased to have witnessed the growth and international recognition of entrepreneurial activities in our region."
Each of the 12 finalists made a 15-minute business plan presentation, after which four teams were selected for the funding round presentations. The three winners are:
Solaris, the Champion, aims to accelerate the use of solar energy by licensing a patented technology enabling solar panel manufacturers (licensees) to produce solar panels that are significantly lighter, more flexible, and more cost effective with the project titled Solaris, Solar Power Without Borders. The team also wins the Elevator Pitch Prize.
Agito Group Limited, the second place winner, aims to upgrade the quality of taxi service industry in Hong Kong and in similar cities through the use of IT and a proprietary multi-platform system with the project titled Gimme Taxi.
The third place winner, Inno-Chemos (International) Technology Limited, provides platforms of innovative testing solutions which make consumer product testing more efficient, economical, and accurate, thus enhancing the safety of consumer products and protecting human health and the environment. The team also wins the Student Prize and the new Franklin Award for the Best Business Plan Presentation.
Both the Trade Show Prize and the Innovation Prize go to NovoDiagnostics Limited which develops diagnostic tests to help differentiate between viral and bacterial infections to prevent spread of disease.
The Competition received ardent support from various sponsors including Shui On Group, NeoID Limited, One Media Solution Company, Hong Kong Science & Technology Parks, the Hong Kong Economic Journal and Education Post of SCMP.
More information about the HKUST 2013 One Million Dollar Entrepreneurship Competition is available through the following link: http://onemilliondollar.ust.hk/.
For media enquiries, please feel free to contact :
Kit Yip
Tel: 2358 6313
Email: kityip@ust.hk
About The Hong Kong University of Science and Technology
The Hong Kong University of Science and Technology (HKUST) (www.ust.hk) is a world-class research university that focuses on science, technology and business as well as humanities and social science. HKUST offers an international campus, and a holistic and interdisciplinary pedagogy to nurture well-rounded graduates with global vision, a strong entrepreneurial spirit and innovative thinking. HKUST attained the highest proportion of internationally excellent research work in the Research Assessment Exercise 2014 of Hong Kong’s University Grants Committee, and is ranked as the world’s best young university in Times Higher Education’s Young University Rankings 2019. Its graduates were ranked 16th worldwide and top in Greater China in Global University Employability Survey 2018.
