PolyU celebrates achievements of startups supported by PolyVentures and kicks off inaugural International Future Challenge

The Hong Kong Polytechnic University (PolyU) yesterday hosted the PolyVentures Awards Presentation cum PolyU International Future Challenge Kick-off Ceremony to celebrate the University’s achievements in entrepreneurial development and the spirit of collaboration. The PolyU InnoHub@BHIC, a collaboration with Shougang Holding (Hong Kong) Limited, was also unveiled during the event marking an important step in the University’s initiative to expand the PolyU InnoHub network.

Ranking among the world’s top 100 universities, PolyU is dedicated to advancing innovation and entrepreneurship (I&E) development that benefits the world. Through PolyVentures, its signature startup ecosystem, the University bolsters PolyU startups at every stage of their entrepreneurial journeys – from education and ideation to incubation, acceleration and fundraising.

PolyU startups are offered comprehensive resources and support in the form of training, mentorship, shared office spaces, funding, and networking opportunities with business partners and investors. A variety of support programmes and schemes have achieved significant success, exemplified by the 2023/24 intake of the PolyU Micro Fund, which attracted a record of over 100 startups.

The Ceremony honoured over 100 teams and startups that have received support from PolyU Micro Fund, PolyU Angel Fund (TSSSU-O), PolyU Angel Fund (TSSSU+), and the PolyU Entrepreneurship Investment Fund, as well as the Research, Academic and Industry Sectors One-plus Scheme (RAISe+) under the HKSAR Innovation and Technology Fund in addition to those which have earned recognition in various innovation competitions. The latest cohort of postdocs of the Translational Startup Postdoc Programme were also commended.

Concurrently, an exhibition was held to showcase 23 outstanding PolyU startups and their products or services, demonstrating their remarkable strengths and accomplishments in addressing global challenges with ground-breaking solutions.

Prof. Wing-tak WONG, PolyU Deputy President and Provost, congratulated the teams and wished them continued success as they grow. He said, “As an innovative world-class university at the forefront of cutting-edge innovations, PolyU is passionate about advancing the innovative and technology development of both Hong Kong and the Nation. We take pride in our rich heritage of nurturing the next generation of entrepreneurs and promoting the translation of research outcomes through the PolyVentures ecosystem, which has nurtured more than 500 startups over the years, including four unicorns. We hope that University recognition will encourage young entrepreneurs to forge ahead and inspire others with their entrepreneurial endeavours.”

During the Ceremony, the PolyU International Future Challenge was officially inaugurated. Hosted by PolyU, this flagship I&E competition integrates education, incubation, research translation, project landing and investment. It features a unique “1+N” framework, where “1” represents the Hong Kong main track and “N” the multi-regional tracks across Mainland cities and regions, such as Wenzhou, Shanghai, Jinjiang and Xinjiang. In each track, leading enterprises will serve as sponsors and strategic partners to provide problem statements, while participating teams will compete for attractive prizes by developing demand-driven solutions to these real industry problems. The winning teams of all tracks will fight for top prizes in the finale.

With all tracks open to startups and innovators from Hong Kong, the Mainland and across the globe, the competition provides a dynamic platform for participants to accelerate the development and commercialisation of their cutting-edge technologies into successful ventures that contribute to socioeconomic advancements in the various regions. The winning teams could receive support from PolyVentures, including project acceleration, funding pipelines, roadshows, and fundraising recommendations, as well as to facilitate commercialisation through the incubation centres of PolyU’s Mainland Translational Research Institutes.

The kick-off ceremony of the Challenge was inaugurated by representatives of various partners, including sponsors Glorious Sun Group and Waterdrop Inc., and strategic partners Cathay, Nike, NTT, Hong Kong Kowloon Group, CHINT Group and Surrich International Company Limited. Founded by 2024 Outstanding PolyU Alumni Awardee Mr SHEN Peng, Waterdrop Inc. is a leading technology platform dedicated to insurance and healthcare services.

The eventful evening also featured the unveiling ceremony of PolyU InnoHub@BHIC. This Centre, a collaboration between PolyU and Shougang Holding (Hong Kong) Limited, is located in the Beijing-Hong Kong Innovation Centre (BHIC) in Wanchai, a facility owned by Shougang and Global Digital Creations Holdings Limited. As a PolyU off-campus co-working space, it aims to foster a vibrant ecosystem for I&E by providing workspace for PolyU startups and facilitating collaborations between Hong Kong and Beijing. It also seeks to match up startups with industry partners and investors, and identify practical application scenarios for their technologies. By promoting collaboration along the industry chain, the Centre aims to ultimately strengthen the innovation landscape in both Hong Kong and Beijing.

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