HK Tech 300 Startup Competition Expands To Southeast Asia

(Source - HK Technology)

Hong Kong is known for its startup community. Over the years, many breakthrough innovations have been created by startups hoping to improve the world. Some of these startups, such as Lalamov and Klook, have become big companies in the region today, contributing significantly to the economy.

The success of startups is often attributed to the universities that allow them to develop their ideas. City University of Hong Kong launched the HK Tech 300 Program in March 2021 with the goal of creating 300 startups within three years.

Funded by HK$500 million in 2021, the program is a strategic step in transforming the results of the City University of Hong Kong's pioneering research and intellectual property into practical applications, while providing valuable growth and learning opportunities for young talents and start-ups. To further support this programme, the university has committed an additional HK$100 million this year.

So far, HK Tech 300 has trained more than 560 start-up teams, each of which has received HK$100,000 in seed funding, and provided up to HK$1 million in angel fund investments to more than 110 start-ups. Building on the program's success and positive impact, City University of Hong Kong is expanding its HK Tech 300 initiative to Southeast Asia, with Malaysia being chosen to host the inaugural HK Tech 300 SEA competition, demonstrating its vision. and design. Making HK Tech 300 the largest university program for innovation and entrepreneurship in Asia.

The expansion aims to enhance technology transfer and commercialization in the region, demonstrating the university's commitment to supporting startups from Southeast Asia to expand their businesses in Hong Kong, mainland China and the region by leveraging the unique facilities and resources available in Hong Kong.

According to Professor Wei Kuo, Chair and Distinguished Professor at City University of Hong Kong. “This competition provides a unique opportunity for aspiring entrepreneurs in the region to make their own name and receive funding for their ventures, and will help translate City University of Hong Kong's outstanding research into applications that can have a transformative impact on the business environment here. We are excited to see the positive impact of HK Tech 300 In this region we are committed to supporting and enabling innovative ideas in this part of the world.”

The HK Tech 300 SEA competition was held in collaboration with universities and incubators in the region including Universiti Malaya (UM) and Universiti Putra Malaysia (UPM) in Malaysia, Universiti Brunei Darussalam (UBD) in Brunei Darussalam, Chulalongkorn University in Thailand, Malaysia Digital Corporate Economy (MDEC), Selangor Information Technology and Digital Economy Corporation (SIDEC) and various chambers of commerce.

Thanks to these partners, the competition will bring together the most promising startups in the region to compete. The top ten winners will receive up to HK$1 million in angel funding, which will greatly increase their entrepreneurial activity.

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