INTRODUCTION

HSUHK Entrepreneurship Challenge 2024 (E-Challenge) is a business plan competition jointly organised by the Centre for Innovation and Entrepreneurship (CIE) and the Master of Science in Entrepreneurial Management (MSc-EM) Programme Office of the School of Business. The competition aims to inspire and empower aspiring student entrepreneurs to turn their innovative business concepts into actionable start-up plans.

We encourage aspiring young talents who have got innovative business ideas to participate in the E-Challenge. The winning teams will receive a cash prize, a seed fund, invaluable mentorship and co-working space to kickstart their entrepreneurial journeys.

In addition, fast-track opportunities of HSUHK x HKSTP Co-ideation Programme OR the Cyberport Creative Micro Fund (CCMF) (with Cash fund up to HK$100,000) *** will be provided to the winning teams with an extra opportunity to turn their dreams into reality.

PART 1 (19 March 2024 – 26 March 2024)

BRIEFING SESSION OF E-CHALLENGE 2024

The BRIEFING SESSION was held on 19 March 2024 (Tue) at 6:00pm – 7:00pm.

PART 2 (19 March 2024 – 28 May 2024)

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) Showcase session contents. The deadline for registration is on 22 April 2024 (Mon) at 12:00:00 noon. Late submission will only be considered on a discretionary basis.

(A) The one-minute pitching video should be in the 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 Name: Your team’s name (Video)

File format: MP4

File size: Less than 200MB

Resolution: 720p

* 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
• Project innovativeness: description of the innovative element(s) and social/technological/commercial impact(s)
• Proposed business model (including target market and revenue & expenses streams)
• Team competency – founding (management) team and network

(C) Showcase session on the entrepreneurship day 2024

The participating teams MUST input your team information in either English or Chinese in the showcase session content of the E-Challenge application form, including:

• Description of your Business Concept (in about 150-200 words)
• Prototype Photo (if available)
• Team members’ profiles: Names, Institutions, Major
• Upcoming plan (in point forms)
• Contact information (e.g. Social Media account / Email / any other means)

The showcase content of the finalist teams will be demonstrated at the showcase exhibition on the HSUHK Entrepreneurship Day 2024.

(D) Others

You can get access to the useful start-up resources from HSUHK Library via the following link: https://cie.hsu.edu.hk/resources/

COMPETITION STAGE 2

Normally up to five teams will be shortlisted for Stage 2 by a panel of adjudicators. Results will be announced by 7 May 2024 (Tue) on the CIE 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, CIE 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.

PRESENTATION ON THE FINAL ROUND COMPETITION

The shortlisted teams will present their start-up business plans in the final round competition, which is scheduled on the entrepreneurship day (E-Day) on 28 May 2024 (Tue). During that day, the finalists of the E-Challenge will have the opportunity to pitch their business plans to a panel of adjudicators comprising experienced entrepreneurs, senior executives, and potential investors.

Each team will have 10 minutes for the presentation, followed by a 10-minute Question & Answer session. It is not compulsory for all team members to be the presenters, but every member is required to participate in the whole event.

The awards of the E-Challenge 2024 will be announced in the final round of the competition after the panel discussion.

• *** The fast-track opportunity to participate in the HSUHK x HKSTP Co-Ideation Programme (4^th Cohort) will be provided to the Champion, 1^st Runner-up and 2^nd Runner-up, winners of My Favourite Start-up Idea Award and Technological Innovation Award upon fulfilling the entrance requirements during the assessment process from HKSTP (cash fund up to HK$100,000)#.
• *** The fast-track opportunity to join the CCMF, Cyberport will be provided to the Champion, 1^st Runner-up and 2^nd Runner-up upon fulfilling the admission criteria during the selection interview from Cyberport (cash fund up to HK$100,000)#.
• The winning teams will be eligible for joining the Pre-Incubation Programme offered by CIE. Throughout this programme, they will be eligible to use the co-working space of CIE 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, HSUHK.
• Award Certificates (Champion, 1^st Runner-up, 2^nd Runner-up, My Favourite Start-up Idea Award, Technological Innovation Award and Finalist teams).

# The team must NOT be currently supported by other HKSTP / Cyberport funding programmes. Also, the team can only join either the HSUHK x HKSTP Co-Ideation programme OR Cyberport CCMF programme.

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 CIE is required for using the fund allocated to them.

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

TECHNOLOGICAL INNOVATION AWARD

This award aims to encourage 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 2024

The result of the “Technological Innovation Award” will be announced in the final round of competition during the HSUHK Entrepreneurship Day (E-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 CIE, 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 winning teams of E-Challenge 2018 to 2023 will not be allowed to join the competition with the same business idea.
5. The team needs to agree to grant CIE the right to broadcast the presentation or distribute it to third parties for this competition while submitting the video.
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 2024. CIE 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 organisation(s) for verification of the participant’s identity for issuing the certificates, prizes, souvenirs and/or online platform services.
11. CIE 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 the Competition and the right to interpret, amend, and supplement the terms and conditions in the guidelines.

IMPORTANT NOTES

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

Photos & videos taken during the events will be used in promotion & media coverage by CIE, HSUHK, Co-organiser(s), Strategic Partner(s), Sponsor(s) and Supporting Organisation(s).