Call for Application

Application Requirements

  • The Company must have a primary focus on technology in its products or services
  • The Company must have been established for no more than 3 years at the time of application
  • The Company must be registered in Hong Kong
  • The Company must be owned at least 10% by a member of faculty, staff or student of HKUST (past or present)
  • Application Deadline and Procedure

    Application Deadline: 16 January 2016
    Interview Week: 1 - 5 February 2016
    Announcement Date: 17 February 2016

    Application Procedure:

  • Application Package are obtainable by sending email to olivewyy@ust.hk
  • Please submit the filled application form with a brief Business Plan to HKUST R and D Corporation Limited:
    • Softcopy to olivewyy@ust.hk; and
    • Signed Hardcopy to Room 3636, 3/F, Lift 29-30.
  • Shortlisted companies will be invited to make a brief presentation to the Review Committee between 15 April - 23 April 2015
  • Announcement Date: 30 January 2016
  • Qualified Companies must complete the EP Agreements within 2 months including the share transfer
  • Evaluation Criteria

  • Technology Content (40%):
    • Degree of technology viability being proven
    • Presence of technological market entry barrier
    • Utilizing a technology owned or developed at HKUST
  • Management Team (30%):
    • Commitment of key technological driver
    • Commitment of management team
    • Marketing & Sales expertise or access
  • Business Plan (30%):
    • Financing Plans (15%)
      • Clearly structured and phased developments
      • Identification of critical weakness at each phase
      • Financing estimates for each phase realistic
      • Exit strategies identified for each phase
    • Product/services (5%)
      • Addressing critical need
      • Disruptive advantage over competition
      • Available market size
    • Market Positioning (5%)
      • Appealing value proposition for targeted customers
      • Identification of Primary, secondary & tertiary product features
      • Competitive difference from market leaders
    • Business Model (5%)
      • Feasibility of pricing strategy
      • Identification of first and second adopter groups
      • Feasibility of sales channels
      • Partnership plans
      • Cash-flow viability

    Services and Support for EP members

    A company accepted into the Entrepreneurship Center will be provided with the following package of services:
    • space
      • for a period of up to 3 years (annually renewed)
      • at a cost set by the University to cover maintenance and operation
      • no supplementary charge for basic utilities (lighting, air conditioning and electrical supply)
    • central office services in the Entrepreneurship Center
      • including a liaison person with the University, and access to photocopier and fax machine (with direct operating costs paid by incubatees)
    • communications
      • no supplementary charge for internet connectivity (one line per room, supplied by ISP)
    • access to an Advisory Committee providing guidance on technical and management issues
    • introduction to potential investors, venture capital companies, and partners
    • discount rate for participation in trade shows, convention displays, and other promotional activities in which the University takes part

    Acceptance

    Upon acceptance into the HKUST Entrepreneurship Program, the proponent(s) will be offered an Agreement specifying:
    • space, its cost and period of rental
    • services to be provided by the Entrepreneurship Center
    • the terms and conditions of the Program
    • access to an Advisory Committee providing guidance on technical and management issues
    • 3% share of ownership given to RDC, and the resulting rights and obligations acquired by the RDC in the affairs of the company
    • any special agreement relating to University IP/technology, services, etc.
    Upon signature both by the appropriate company officers and by the AVPKT on behalf of the University, the company will be given and may use the designation "HKUST Technology Venture". Any member of the University who owns at least 10% of the new venture at time of approval can be designated an "HKUST Entrepreneur"

    Enquiries

    For enquiries, please contact Ms Olive Yau at 2358 8060 or email to olivewyy@ust.hk

    Thank you very much.

     

    HKUST R and D Corporation Limited