HKUST is not just about science and technology but also its commercial and social applications. This university has gone one step further, organizing a multi-department effort to nurture a taste for business ventures among students, and creating an entrepreneurship eco-system within the university. Our Entrepreneurship Center, for example, provides a one-stop support for aspiring ventures, and has a proud record of nurturing 46 start-up companies over the years.
This year, the Entrepreneurship Center, the Business School and the Engineering School came together to organize the inaugural Million-Dollar Entrepreneurship Competition, open to any student, teacher, staff and alumnus of HKUST. It drew an overwhelming response, with 124 entries/teams. These were whittled down to 11 in the final round, some of them having already formed or allied themselves to a running business. Each team made a 15-minute project presentation followed by a 12-minute Q & A session with the judges. On the basis of their performance, the four top teams were picked.
The top prize went to Wah Kin Holdings Ltd for its hair-testing technology for schools, government institutions and clinics etc, providing its clients with health status reports on those tested in terms of the presence of heavy metals, drugs or melamine in the body.
The first runner-up is LEDos which provides a breakthrough, low-cost display technology for a wide variety of display applications, from digital signage to traffic signs.
The second runner-up is Allegro IQ which aims to technologically make music education more effective and comprehensive with a more rewarding music learning experience.
The third runner-up is iFlight Technology, a leading developer and manufacturer of helicopter autopilot systems for commercial and industrial use.
From the variety of these winning entries, it shows the breadth of talents and the strength of entrepreneurial drive at HKUST.
The competition attracted a robust interest from industry and our supporters. We are grateful for the support of Morningside Group, IDG Venture Capital, Northern Light Venture Capital, as well as Mr Hui Hok Chi, a loyal HKUST honorary fellow, plus six start-ups nurtured by HKUST. This is a competition that shows to the community the diversity of techno-entrepreneurial talents of the university.