Entrepreneurship Acceleration Fund

Entrepreneurship Acceleration Fund
Accelerator Funds and Space
Date
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Event Time
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1. Objectives

1.1 The fund aims at

  • Cultivating and enhancing students’ entrepreneurial spirit, mindset and skills through ideation, implementation and market trials.

  • Engaging students in cross‐disciplinary collaboration in order to turn innovative ideas

  • to impacts.

  • Fostering innovation and entrepreneurial culture in the University.

2. Awards

2.1 Recipients of the Fund will receive up to HK$15,000; and

2.2 Priority in getting the following resources to accelerate and discover the pathway for further growth and development:

  • Accelerator Program: Hot desk in co‐working space, mail box, storage locker, etc.

  • Venture Mentorship Service

  • “Lighthouse Advising” service, a guidance and advising service which provides direction and information for entrepreneurial pursuit

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3. Eligibility

3.1 Applicants must be full‐time HKUST students.

3.2 Applicants can apply for the fund on individual or team basis.

3.3 Applicants may apply for both HKUST Entrepreneurship Acceleration Fund and Yeung Wing Yee Entrepreneurs Fund at the same time. However, at any time, an awardee can hold at most one of the funds.

3.4 Awardees have to attend an exit interview before completing the program.

4. Selection Criteria

4.1 Applications will be assessed by a panel formed by the HKUST Entrepreneurship Center.

4.2 Applications will be assessed based on the following criteria:

  • Overall merit of the project including originality, creativity, technical and business feasibility and market viability, team and management skills; and finance.

  • Development on the students’ entrepreneurial potential.

4.3 Approved fund will be released to the startup by installment. The last installment will be only released upon satisfactory completion of the project with a report to HKUST Entrepreneurship Center.

5. Terms and Conditions of the Fund

5.1 Recipients of the fund are expected to use the fund according to the submitted proposal.

5.2 The actual amount of the approved fund will be subject to adjustment with reference to the net balance after the deduction of other sources of income during of the period.

5.3 Salary, helper fees, honorarium or remuneration will not be supported.

5.4 Administration expenses such as company registration and general office equipment will not be supported.

5.5 Any items or expenses approved by the selection panel should be incurred within the approved project period.

5.6 Any items or expenses invested before approval of the fund will not be considered and supported retrospectively. The applicants should be responsible for those cost incurred.

5.7 Any purchase of equipment must be detail listed on the application and proposal. It must be one that is closely related and needed for the approved need of the startup project and development. It is not for general and personal use. Ownership of the equipment can be retained by the university after use if appropriate.

6. Application and Submission Deadline

6.1 The fund is now open for applications.

6.2 Please fill the online application form (https://goo.gl/forms/7WkgWBxk4rYphkvo1) and submit the required documents to http://goo.gl/M7fZDW.

6.3 Application with insufficient documents will not be considered.

7. Enquiries

The Secretariat of Entrepreneurship Acceleration Fund
HKUST Entrepreneurship Center
Tel: (852) 2358 6021
Email: ecfund@ust.hk
Website: http://www.ec.ust.hk


Personal Data (Privacy) Collection Statement:

  • The personal data provided by you will be used by staff in HKUST Entrepreneurship Center (EC) for purposes related to the processing of administrative, research and statistical purposes.
  • The personal data (including name, address, email and contact number) provided by you will be used by HKUST EC staff for delivering information including any events and functions to be held, and other affairs and activities related to EC. This personal data will not be transferred to other external parties for purposes as stated above, except commissioned research consultants and agencies for marketing activities as stated above.
  • Under the provision of the Personal Data (Privacy) Ordinance, you have rights to request access to, and to request the correction of, your personal data. For such requests, please submit written requests to ecenter@ust.hk.
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