Yeung Wing Yee Entrepreneurs Fund

Yeung Wing Yee Entrepreneurs Fund
Accelerator Funds and Space
Date and Time
Two rounds of application in every academic year

 

***The application for Yeung Wing Yee Entrepreneurs Fund is now open for applications. Application deadline of 2017-18 Fall round is on 25 Sep 2017 (5pm).***


1. Objectives

1.1 The fund is an acceleration seed fund that aims to support early-stage startups owned by HKUST students to pursue their entrepreneurship dreams, develop their entrepreneurial potentials, and promote innovation and entrepreneurship.

1.2 It supports, encourages and assists HKUST entrepreneurial students to cover the costs in the initial stage of a startup, in terms of prototyping, service development, marketing and promotion, deployment trials, operation overheads, etc.


2. Awards

2.1 Recipients of the Fund will receive up to HK$200,000 seed funding; and

2.2 Applications which were recommended as Outstanding Startup/ Project by the selection panel will award an additional offer of office space and logistics support in Shenzhen, and UNLIMITED seed funding supported by the Donor Mr. Yeung Wing Yee and his company Shenzhen Rongchao Real Estate Development Co., Ltd, subject to the detail arrangement and availability of resources.

2.3 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.

  • Dream Builder Mentoring Program (DBMontor)

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

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3. Terms and Conditions of the Fund

(Please click HERE and refer to Part 5 for the detail Terms and Conditions of the Fund. It is very IMPORTANT, please read before applying the Fund)


4. Application and Submission Deadline

4.1 The fund is now open for applications. Tentatively, there are 2 rounds of application in every academic year.

4.2 Please submit the following required documents and supporting documents (if any) to ecfund@ust.hk by 25 Sep 2017, 5pm. Please name the email subject “Application for YWY Fund 2017-18 Fall - Name of Startup - Name of Applicant” when submit the application.

  • Application Form of YWY Entrepreneurs Fund [Download]

  • Budget Estimation [Download]

  • Business Registration Certificate

  • Other supporting documents (if any)

4.3 Late application or applications with insufficient information will not be considered.

4.4 Result will be released and sent to applicant’s HKUST email account in mid Nov 2017.


5. Report

5.1 Recipients of the Fund must submit the completion report, financial report and ORIGINAL receipts and VALID payment proof/ supporting documents for all expenditure and income that claiming for the YWY Entrepreneurs Fund and a set of copy of receipts for other expenditure that incurred for the project, but NOT claiming for the YWY Entrepreneurs Fund for checking.

5.2 If a single purchase is equal to or more than HK$5000, claimant has to provide at least two competitive quotations and select the lowest bidder. It is to comply with the rule and regulation by the university.

5.3 Please submit the following documents to Entrepreneurship Center to claim the Fund:

  • Completion Report of YWY Entrepreneurs Fund [Download]

  • Financial Report [Download]

  • VAILD bank-in slip or proof for the matching amount equivalent to 20% of the approved amount of YWY Entrepreneurs Fund

  • ORIGINAL receipts and VALID payment proof/ supporting documents for all expenditure that claiming for the YWY Entrepreneurs Fund

  • A set of copy receipts that expenditure incurred in the project, but NOT claiming for the YWY Entrepreneurs Fund

6. Eligibility

  • Applicants must be full-time HKUST students.

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

  • Applicants / startups must be registered independently under the Companies Ordinance in Hong Kong less than one year ago preferably as founders or co‐founders of the startup. The total shares owned by all HKUST applicants in the startup must be 51% or more.

  • 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.

7. Assessment Criteria

  • Innovation, creativity and impacts;

  • Commercial, social and/or culture value;

  • Technical and business feasibility;

  • Team and management skills; and

  • Finance

8. Selection Process

  • Application submission on or before the deadline.

  • Upon receiving the complete applications, the University will verify compliance with the eligibility requirements.

  • Applications will be assessed by the panel.

9. Formation of vetting committee containing relevant domain experts

  • A staff from HKUST Entrepreneurship Center;

  • A staff from HKUST Technology Transfer Center or HKUST R and D Corporation Limited;

  • An external expert with entrepreneurship experience; and

  • A representative appointed by the Donor, Mr. Yeung Wing Yee.

10. Enquiries

The Secretariat of Yeung Wing Yee Entrepreneurs 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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