Announcement of the Final Round Results of

HSUHK Entrepreneurship Challenge 2023 

The final round of the HSUHK Entrepreneurship Challenge 2023 was held successfully on 20 June 2023, we would like to express our heartfelt gratitude for your support toward the competition.

We are pleased to announce the awards results:

Champion: Daoad

The 1st Runner-Up: Wellbeing & Health in One (WHO)

The 2nd Runner-Up: Artick

Technological Innovation Award: Daoad

My Favourite Start-up Idea Award: TranscribAI

Thanks to the votes from the HSUHK community, 188 votes were received for the My Favourite Start-up Idea Award. TranscribAI got 130 votes to win this prize.

We will continue to nurture our young generations on their journey of entrepreneurship and innovation.

Announcement of the First Round Results of

HSUHK Entrepreneurship Challenge 2023

We appreciate all participating teams striving their best on preparing their innovative business ideas statements and pitching videos for joining the HSUHK Entrepreneurship Challenge 2023. Our first-round adjudicators found the quality of submissions in this year exceptionally high.

Our Centre is delighted to announce that the following teams have been shortlisted by our first-round adjudicators for the final round of HSUHK Entrepreneurship Challenge 2023:

• Artick
• Daoad
• Epads
• RealisTix
• Wellbeing & Health in One (WHO)

Introduction

HSUHK Entrepreneurship Challenge 2023 (E-Challenge) is a business plan competition jointly organised by Wu Jieh Yee Centre for Innovation and Entrepreneurship (WUCIE) and the Department of Marketing (MKT). The objective of E-Challenge is to encourage the participating teams to turn their innovative business ideas into actionable business plans. The winning teams will receive a cash prize, a seed fund, mentorship support and access to co-working space to assist them to realize their start-up plan. Moreover, fast-track opportunities of the HSUHK x HKSTP Co-ideation Programme (with Cash fund up to HKD 100,000) will be provided to the Champion, 1^st Runner-up and 2^nd Runner-up.

Phase 1

Competition Stage 1

All competing teams must submit their application via an online registration form with the submission of (a) a one-minute pitching video about the business concept; (b) a business concept statement; and (c) the social media links & QR codes for the “My Favourite Start-up Idea Award” (optional). The deadline for registration is on 19 April 2023 (Wed) at 12:00:00 noon. Late submission will only be considered on a discretionary basis.

(A) The one-minute pitching video should be in form of an elevator pitch that can attract the audience’s attention and should allow them to understand your business concept within a short period of time.

Format

Video length: Up to 1 minute long*

Language: English or Chinese

File format: MP4

File size: Less than 200MB

Resolution: 720p

* The video content beyond one minute will not be considered as a part of the presentation.

(B) Requirements of the Business Concept Statement:

Format

Cover – Team Name / Project Title / Mission & Vision / Objectives / Name and background of team members

Maximum number of pages: 3 (including cover, appendices, diagrams and tables)

Language: English or Chinese

Size of Paper: A4

Font Size: 12

File Name: Your team’s name

File Format: PDF

Header: Show the team’s name on the top right-hand corner of the header

Coverage: the business concept statement should comprise the following components:

• Identification of the opportunity (i.e., the need(s), problem(s), or market gap)
• Introduction to the business concept
• Description of the innovative element(s) and social/technological/commercial impact(s)
• Proposed business model (including target market and revenue & expenses streams)
• Founding (management) team and network

(C) To compete for the “My Favourite Start-up Idea Award”, teams are required to submit the social media links & QR codes for the “My Favourite Start-up Idea Award”. (Optional)

The requirements for competing for this Award are as follows:

Social media platforms: e.g., Instagram, Twitter, Facebook, etc.

Number of post (s): At least ONE

Social media account: The teams are recommended to launch a new page in social media platform(s) for this award.

Format of the posts e.g., texts, photos, videos, etc.

Access: The promotion must be set for public viewing

The details are shown in the section: #MY FAVOURITE START-UP IDEA AWARD

You can get access to the useful start-up resources from HSUHK Library via the following link:

Competition Stage 2

Normally up to five teams will be shortlisted for Stage 2 by a panel of adjudicators. Results will be announced by 3 May 2023 (Wed) on the WUCIE website.

The shortlisted teams will be required to further elaborate their business concept statement into a full start-up business plan in the form of a presentation (NO written business plan is required). For fairness, significant changes in the business nature and the focus of the business concept are not allowed in this stage.

Before the final presentation, WUCIE would pair up each shortlisted team with a mentor who will provide them with further guidance for enhancing their business plan.

Further details about the final presentation will be announced in due course.

Awards and Benefits

All participants who successfully submit the business concept statement and the pitching video would be awarded with the following:

• Certificate of Participation in the E-Challenge 2023 awarded jointly by WUCIE & MKT
• Membership of AWS Academy with US100 credit for AWS lab service to the applicants of the E-Challenge 2023
• 3 ECA Hours or 1 iGPS Unit for HSUHK participants

Also, the awards of the winning teams of E-Challenge are as follows:

• The fast-track opportunity to join HSUHK x HKSTP Co-Ideation Programme (3^rd Cohort) is provided to the Champion, 1^st Runner-up and 2^nd Runner-up upon fulfilling the admission criteria during the selection interview (cash fund up to HKD100,000)**
• AWS laptop bags for Champion
• AWS mugs for 1^st Runner-up and 2^nd Runner-up
• The winning teams will be eligible for joining the Pre-Incubation Programme offered by WUCIE. Throughout this programme, they will be eligible to use the co-working space of WUCIE for a fixed period (normally 1 year), participate in a series of start-up training workshops, join various networking activities, and receive mentoring from experienced practitioners.
• The winning teams are also eligible for early admission to the Master of Science in Entrepreneurial Management offered by the School of Business.
• Certificates (Champion, 1^st Runner-up, 2^nd Runner-up, My Favourite Start-up Idea Award, Technological Innovation Award)

**Currently NOT supported by other HKSTP / Cyberport funding programmes.

Seed Fund

A seed fund will be provided to the awardees on a reimbursement basis. Submission of proof of expenses, i.e., receipts or invoices, to WUCIE is required for using the fund allocated to them.

The awardees will have to sign an agreement with WUCIE to ensure that they will use the seed fund prudently, efficiently, and solely for the project approved under WUCIE.

# MY FAVOURITE START-UP IDEA AWARD

All participating teams of the E-Challenge are eligible for this award. The winning team will be awarded a cash prize of HK$5,000. To compete for this award, each team needs to promote their start-up ideas by launching a social media campaign.

The relevant links and QR codes should be submitted through the online registration form for preparing a joint announcement to the voters. Participation in this award competition is optional but late submission is not allowed.

The voting e-form will be posted on eCampus on 26 April 2023 (Wed).  All students and staff members with a valid HSUHK personal email account are eligible to cast a vote for their favourite start-up idea within the period from 26 April to 29 May 2023, 5:00 p.m. The team which receives the highest number of votes will be the winner of this award.

The final result of the “My Favourite Start-up Idea Award” will be announced during the final round of competition on HSUHK Entrepreneurship Day.

** TECHNOLOGICAL INNOVATION AWARD

This award aims at encouraging the competing teams to make use of technological and innovative ideas when developing their business concept. The team should demonstrate their technological know-how and their capability to apply it to their product and/or service. Only the finalist teams are eligible for this award.

Judging criteria

• Innovativeness
• Technological Viability
• Potential Impact
• Commercial Feasibility
• Sustainability

Panel structure: The final round adjudicators of E-Challenge 2023

The result of the “Technological Innovation Award” will be announced in the final round of competition during HSUHK Entrepreneurship Day.

RULES AND REGULATIONS OF E-CHALLENGE

1. The team leader must be a student who is currently studying at the Hang Seng University of Hong Kong. He/She is a contact person and responsible for ensuring the team submits all necessary information as requested by WUCIE, on or before the stated deadlines.
2. Each student is eligible to join one team only. Teams will be disqualified if any team member(s) participate(s) in more than one team.
3. No change of team composition will be allowed once the registration process is completed except in unavoidable circumstances.
4. The team needs to agree to grant WUCIE the right to broadcast the presentation or distribute it to third parties for this competition while submitting the video.
5. For the team competing for the “My Favourite Start-up Idea Award”, they need to agree to show their social media link(s) and content on the publicity materials of E-Challenge 2023 and the social media of WUCIE.
6. All submissions must be the team’s original work. Plagiarism is NOT allowed. The submission must not contain any unauthorised use of copyrighted or proprietary materials of any person or entity or content violating the law of HKSAR. Any form of plagiarism will result in an automatic disqualification. The use of thoughts or work of another source must be properly referenced.
7. The video content of the elevator pitch must not infringe on any third-party rights (logos, music, intellectual property, etc.)
8. The video must not contain obscene, violent, pornographic, defamatory, objectionable, insulting or any controversial and inappropriate content.
9. All participants are required to abide by the rules and regulations of the HSUHK Entrepreneurship Challenge 2023. WUCIE retains the right to determine the team’s participation qualification.
10. The contact information of the participants would be sent to the co-organiser(s) and/or strategic partner(s) and/or sponsor(s) and/or supporting organization(s) for verification of the participant’s identity for issuing the certificates, prizes, souvenirs and/or online platform services.
11. WUCIE reserves the right to modify the competition context at any time without prior notice and to disqualify any team that violates the rules, conditions or spirit of the Competition. In case of any disputes, the decision made by the organiser shall be final and conclusive.
12. The decision of the organising committee is final. The organising committee reserves the right to reject any application submitted for Competition and the right to interpret, amend, and supplement the terms and conditions in the guidelines.

IMPORTANT NOTES

By submitting the application to WUCIE, the teams agree to share their information with WUCIE for publicity and communication media in HSUHK. For materials that are highly confidential and proprietary, the team should make a special note to WUCIE for the special handling of such information.

Photos & videos taken during the events will be used in promotion & media coverage by WUCIE, HSUHK, Strategic Partner(s), Sponsor(s) and Supporting Organization(s).

Organizer

Wu Jieh Yee Centre for Innovation and Entrepreneurship (WUCIE), HSUHK

Co-organizer

Department of Marketing, HSUHK

Silver Supporter

Karrie International Holdings Limited

Strategic Partner

Hong Kong Science and Technology Parks Corporation (HKSTP)

Sponsor

AWS Academy

Supporting Organization

HKAI Lab