Subsequent to the signing of the Memorandum of Understanding (MoU) with Cyberport on 12 May 2023 to encourage more professional engineering talent to join the Innovation and Technology (I&T) industry and cultivate engineers into entrepreneurs, HKIE is now calling for submission of innovation projects to the Cyberport’s entrepreneurship programmes via the fast-track channel under this MoU.
The principal applicant must be a member of HKIE. If the applicant is a company, the application must be completed by the director or owner of the applicant organisation who must be a member of HKIE. Otherwise, the application will not be processed.
Content of Submission
The submission shall include the following key elements:
- Project Name/ Company Name (if applicable) (Same as the Name of Business/ Corporation on valid Business Registration Certificate in Hong Kong)
- Year of Establishment of Your Company in Hong Kong
- Country of Origin
- Abstract in Chinese and English (A summary of your company’s vision, mission and positioning)
- Business Area (AI/ Big data, Application Development, Blockchain, Cybersecurity, Edtech, EnvironmenTech, E-sport/Digital Entertainment, FinTech, HealthTech, MarTech, RetailTech/ Ecommerce, Robotics/ IoT, Smart Building, Smart Mobility, Others)
- Anticipated Commencement and Completion Date
- Project Management Team (The ability of the project management team reflected from its prior track record, execution ability, good probability of launch to market, individual qualifications, and team job allocation)
- Business Model & Time to Market (Effective communication and the qualities of vision, direction, short and long term objectives, market need for product, target market and marketing strategy, and realistic assessment of the Project viability. In addition, a product launch within three months from grant disbursement will be encouraged)
- Creativity and Innovation of the Proposed Project, Product and Service (Factors such as the use of innovative technologies, creative solutions, disruptive technology capability, emerging, or breakthrough problem-solving technologies)
- Social Responsibility (Preference will be given to projects that incorporate social responsibility objectives as a project focus (including contribution to open source, creative commons and other “progressive” technologies with a social focus), demonstration of ethical decision making, or contribution towards solving problems that originate from the social environment)
- Competition analysis
- 6-Month Project Milestone (The Milestone proposed will form as a basis for continuous project review and evaluation if the Grant is awarded. The Month-1 should be started from the following month of the CCMF application deadline)
- Cost Projections (Cost of development and on-going operations)
- Funding Status (List out in detail (i) all grants and funding received/to be received from other publicly and/or privately funded organisations/ programmes which the applicant (or companies established by he/she/it) has applied for, will receive or will be entitled to receive in the coming 18 months, or have received in the past 18 months; (ii) the nature of expenditure covered/to be covered by such funding sources; and (iii) the amount and the maximum amount received/to be received under such funding sources )
- Exit Strategy (If applicable)
- Contact Details of Principal Applicant and Core Members
The applications will be evaluated according to four criteria:
- Project management team (30%)
The capability of the project management team is evaluated according to track record, execution ability, probability of launch, individual qualifications and roles within the team.
- Business model and time to market (30%)
The business model is evaluated by the short and long term objectives, apparent market need, target market and marketing strategy, and realistic assessment of the project viability.
- Creativity and innovation (30%)
Innovative technology, creative solutions, disruptive ideas, emerging technology and breakthrough problem-solving will score higher.
- Social responsibility (10%)
Preference will be given to projects with socially responsible dimensions, such as open source software, creative commons IP, ethical decision making, or which contribute to solving social problems.
The Submissions of innovation projects for the Programme will go to the Cyberport’s entrepreneurship programmes. The applications of the Programme runs in successive batches throughout the year and the current batch is now open from 1 Sep 2023 to 30 Nov 2023.
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