City University of Hong Kong has announced the launch of the HK Tech 300 Southeast Asia Start-up Competition in Kuala Lumpur, extending its successful HK Tech 300 initiative to Southeast Asia.
The competition is aimed at fostering innovation and technology development in the region and supporting start-ups. The HK Tech 300 initiative is a large-scale flagship innovation and entrepreneurship programme by City University of Hong Kong, which has a total commitment of up to HK$600 million.
Through partnerships with universities and incubators in the region, the competition will bring together the most promising start-ups to compete. The top 10 winners will each be awarded Angel Fund investment of up to HK$1 million, providing a significant boost for their entrepreneurial endeavours.
The Malaysian Minister of Higher Education, Datuk Seri Khaled Mohamed Nordin, welcomed the competition, saying that “a thriving small and medium enterprise (SME) and start-up ecosystem is essential for sustainable digital development”.
The expansion of the HK Tech 300 initiative to Southeast Asia aims to promote technology transfer and commercialisation in the region, showcasing the University’s commitment to supporting Southeast Asian start-ups in expanding their business to Hong Kong, Mainland China and the whole region, leveraging the unique advantages and resources available in Hong Kong.
Since its launch in March 2021, the HK Tech 300 programme has made significant strides towards its goal of creating 300 start-ups within three years. The programme is a strategic move to translate City University of Hong Kong’s groundbreaking research results and intellectual property into practical applications, while simultaneously providing valuable opportunities for young talent and aspiring entrepreneurs to grow and learn.
To further support the programme, the University added an additional HK$100 million this year.
The HK Tech 300 initiative has already cultivated more than 560 start-up teams, each of which received a HK$100,000 Seed Fund, and it has provided up to HK$1 million in Angel Fund investment to more than 110 start-up companies.
Professor Way Kuo, President and University Distinguished Professor of City University of Hong Kong, expressed his excitement about expanding the successful HK Tech 300 initiative to Southeast Asia.
He said, “This Competition presents a unique opportunity for aspiring entrepreneurs in the region to gain exposure and secure funding for their projects, and will help translate City University of Hong Kong’s outstanding research into applications, which can have a transformative impact on the entrepreneurship landscape here. We are excited to witness the positive impact of HK Tech 300 on the region and are committed to supporting and empowering innovative ideas in this part of the world.”