Information Session - HKUST-Sino One Million Dollar ...
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Information Session
Background
Annual Flagship Event: Since 2011, this is the 10th year
Since 2016: Country Wide Event
Total 8 cities (HK, SZ, GZ Nansha, Foshan, Zhongshan, Macau, Beijing and SH)
Grand Final in GZ Nansha from top teams in all regional competitions
A platform for growing UST startups
iFlight: later became DJI
Sonikure: Ultrasonic drug delivery to the eyes
Sundial Technology: self-cleaning & anti-reflection film for solar panels
Clare.ai: white label financial messaging chatbot using A.I technology
Aromeo: IoT Aromatherapy for in-room hospitality guests
Major Change in 2020
More resources
Cash prize adjusted
In-kind awards & services
More exposure opportunities
50 teams (up from 24 last year) will be selected for Round 2
More teams get exposure and attention
Reduced crowded events
Replacing Exhibition & Elevator Pitch with Online Video Presentation
Introduce Lucky Draw to encourage UST students to watch the videos and
vote
Round 3 may conduct via Zoom Meeting
But we do hope the situation improve and we can introduce the professional
investor judging panel to you in person
Awards
Top 3 Winning Teams: Cash Award + cash bonus for UST Tech & Multi-School
Team + Representing UST to compete in the Grand Final
President Award: HK$ 400K
Gold Award: HK$ 200K
Silver Award: HK$ 100K
Innovation Prize
Best Video Prize
3 Places; Replaced the Exhibition Prize, Elevator Pitch Prize
Student Team Prize
2 teams getting this prize, HKD60,000 each (from HKD50,000)
Focus Area Awards
6 areas identified ~ Healthcare
~ Robotic & AI
Selected from all entries ~ I.T & Smart Tech
HKD25,000 for each area (from HKD20,000) ~ Fintech
~ Environment & Sustainability
~ Social Service & Enterprise
Initiatives
In-Kind Awards and Services
Workshops, advising and mentoring sessions
Top 12 teams fast-track to HKSTP STEP program
HKD100,000 cash
Tapping the HKSTP mentor pool & network
Memberships and special discount
Oversea Team Members
Transportation cost support for Round 3 (if situation allows for face-to-face
business plan presentation)
Other Opportunities and Supports
Helping you form teams
Online matching platform
Exposure opportunities
Online Video Presentation for voting
Media Coverage
More industrial partners & sponsors
2 to 3 more potential sponsors coming in
More prizes and/or award amount
Relevant Feedback
Connections & Collaboration Opportunities
Media Coverage in 2019
Event Photos from 2019
Experience
Over 4 months
Help you develop your business plan
Innovation → Impact → Execution Plan
Get a chance to work with your team under pressure
Get a chance to know & learn from other UST teams and startups
Writing, Presenting, Pitching, Interacting and networking with investors
and mentors
Strengthening your Problem Solving, Communication and
Leadership Skills
Details Proposed Schedule: Jan 2020 Announcement & Promotion Feb 2020 Info Session & Online Matching Platform for Team Forming Mar 2020 Application Deadline Apr 2020 Online Video Presentation Jun 2020 12 Teams Final & Award Dinner Later in 2020 Grand Final
Details
Eligibility:
Each team 2 to 5 members; At least 1 member from UST (students, staff or alumni)
Not a must to be a registered company
If company, must less than 3 years old AND less than HKD1,500,000 invested capital
Each person, 1 team, 1 region
DQ if found violated
Make sure it is your original work and you have the right to use the IP, if any. The
teams bear the risk and responsibility for any potential infringement issue
EC reserves the rights to verify all the materials and information submitted
EC is helping the teams to connect with the investment and startup community
may use the materials submitted for publicity & communication in the process
If you have highly confidential info that do not want to disclose, please let us know. But at
the same time, you limit your opportunity to get connected.
If getting any Cash Awards, have to receive it using Company Accounts.Details
Judging Process:
3 Rounds
Innovation
Value
Execution
EC will form judging panels for each round
EC will invite professionals from Academics,
Corporates, Investment & Startup
community as judgesDetails
Judging Process:
1st Round
Executive Summary: 1-page write up
Innovativeness, feasibility & commercial potential
Panel of 3
From all applications select 50 teams
*Separate Panel to select Focus Area Awards
Each team has to specify their primary area during
application
All same primary area projects evaluated together
~ Healthcare
~ Robotic & AI
~ I.T & Smart Tech
~ Fintech
~ Environment & Sustainability
~ Social Service & EnterpriseDetails
Judging Process:
2nd Round
Online Video Presentation (Starting Apr 15)
Teams to prepare 1-min video to be put on competition website
Competitive Edge, Product-Market fit, Impact
EC invites judges to give scores
Each team get at least 3 independent reviews & scores
12 teams with highest scores go into Round 3
The videos will be opened to voting by HKUST students and staff
3 teams getting most votes ➔ Best Video Awards
*There will be an online workshop giving the teams some tips what to include within 1 min pitch /videoDetails
Judging Process:
3rd Round
Business Plan Presentation
Closed door in person or Breakout Room with Zoom
10 min presentation, 10 min Q&A and comments from the judge
2 groups of judges
12 teams randomly assigned to one of the groups, each group 6 teams,
best 3 of each group go to Final Round
Final Round same format (Q&A 15mins) as 3rd Round Business Plan
Presentation
➔ Top 3 Winning TeamsTips on 1st Round Application
Online Application
Remember your login AND password
Fill in your CORRECT email : eccyrus@ust.com; eccyrus@ust.connect.hk
Valid idea
Check & verify your assumptions
If you assume to be able to build a time machine, tones of innovative way to make
money
Your assumption on consumer behavior
Well written
Not only grammar, but has to be clear and direct to the point
What is the innovation? Tech? Business Model? Execution?
What is the competitive advantage?
Why there is commercial potential?
Don’t rely on the judges to guess what you are trying to say…
Back up what you say by numbersTips on 1st Round Application
Show your commitment
What have you done? Market research? Feasibility study?
How familiar you are towards the area of interest? potential customer?
the existing and potential solution?
** not meaning you need to have a product or prototype, but still there are
many things you can do to improve your idea and show others you are
committed to do this!! **
Submit first and modify
Can submit revised versions before deadline; system recognize only the
last version
Online form ready
Join and apply
Awards not guaranteed but I am sure you will improveDeadline: Mar 16, 2020 http://onemilliondollar.ust.hk competition@ust.hk Please fill in the feedback form for this information session
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