Application

1. Who can apply?
   CityUHK students, CityUHK alumni, CityUHK research staff, and general public championing commercial use of CityUHK’s intellectual property (IP, knowhow or patented/patent pending invention) can apply for HK Tech 300 Seed Fund and Angel Fund.


2. What is the role of a Person-In-Charge (PIC)?
   A PIC should be the major person who drives a project or a company. The PIC can be a jack-of-all-trades (i.e. responsible for multi-roles) until the company grows to afford hiring professionals.


3. What are the possible role(s) of team members?
   • Innovation – to resolve technical issues faster than anyone else in the team; ensure tech development is on schedule with strategic use of resources, etc.
   • Product/Service Manager – familiar with/know customer needs and forecast/predict customer needs; product development, marketing and pricing strategies, project product sales, etc.;
   • Operations – looking into various aspects of start-up operations
   • Marketing & Communications – for creating and building the customer base, exploring revenue generation and company profitability, brand strategies, lead generation
   • Finance – budget, expenses monitoring and management, financial planning, risks vs goals
   • Sales – to convince prospect clients to take a try out on an untested product, an unknown company; define sales strategy, process and sales strategies; hire and groom a sales team (eventually)
   • Customer Relations – to ensure customers have a lasting impression of the company, soft sell the value of company products, and generate good feedback/referrals; establish workflow and process between sales and marketing
   The adaptability of team members is the key to enabling a project to transform into a company and grow.


4. Can team members be changed after submitting applications?
   You may provide a justifiable reason for our consideration. However, it is not allowed to change the Person-in-charge (PIC).


5. Can a project team, completely without any member affiliated to CityUHK (students, alumni, staff), enroll in the HK Tech 300 Programme?
   Yes, for general public, as long as the project team is championing a CityUHK IP throughout the Programme.


6. Can a project team champion multiple projects?
   No, each project team should focus on one project.


7. Is there a limit in the number of members in a project team?
   Recommended 3 – 5 members per project team. Team members should be chosen strategically, based on what they can bring to the project.


8. Will a project team that champions a CityUHK’s research outcome be eligible?
   Certainly. We encourage anyone interested in specific CityUHK’s research results to discuss with faculty who is/are responsible for the particular research results concerned, and to get to know more about the potential use of the research work. This will maximise the chance of turning the research ideas into successful products as direct dialogue with the researchers would be beneficial to understanding the theory behind the research and the gist of the problems that could be crucial to commercialisation.


9. Will a project team championing a known technology for new application be eligible?
   Certainly, as long as it leads to novel business applications. Very often, a useful technology proposed in the past did not get to any market or lead to any useful products. Timing, availability of other enabling technologies as well as market maturity could make a big difference. It is thus not unusual to see that many successful products are built on the basis of a previously proposed technology but targeted to a new application with completely new sets of practical parameters addressing completely new market needs.


10. Can applicants re-apply if they failed in a previous application?
    Yes, HK Tech 300 runs several cohorts per year. Please refer to the webpage of HK Tech 300 Seed Fund and HK Tech 300 Angel Fund for details.


11. When does a project team become a company (formally registered business)?
    Registration as a business/company is not required at the time of project team formation, enrollment or training. Incorporation of a new business registration should be done by the end of the Seed Fund period. For Angel Fund application, the applicant must be a company registered under the HKSAR Companies Ordinance normally within 5 years as of the date of application.


12. Any restrictions on technology areas/ market segment for the project teams?
    There are no restrictions on technology areas or market segment for a project team to focus. The HK Tech 300 Programme aims to enable participants to demonstrate innovation and build sustainable businesses that will benefit to society.


13. When is the deadline to enroll?
    Participants can enroll in any of the cohorts each year. For application timeline, please refer to HK Tech 300 Seed Fund and HK Tech 300 Angel Fund.


14. Do we need to go through all phases of the HK Tech 300 Programme?
    Generally speaking, project teams that have not yet established a company are advised to go through all phases of the programme. Nevertheless, we also consider project teams that are at a more developed stage to participate directly in an advanced phase.

Incubation

1. Does Incubation (Seed Fund / Angel Fund) include the provision of physical space for project teams?
   Yes, Seed Fund project teams and Angel Fund companies are eligible to use the HK Tech 300 co-working space at Admiralty during their agreement period.


2. Are there restrictions on the use of the Seed Fund?
   Project teams supported by the Seed Fund should observe the relevant operation guidelines to ensure proper use of the funds.


3. Can Seed Fund project teams and Angel Fund companies join the incubation from HK Tech 300 Programme and other incubators at the same time?
   Co-incubation at the same time is allowed in order that the project teams or companies can benefit from the most resources possible.


4. When and how will the Seed Fund be released?
   The funding period will be shown in the agreement to be signed, and the disbursement of funding is subject to the stipulated requirements. The project team must submit interim and final reports together with the expenditure reports as required, complete the agreed milestones within the funding period for review, before the funding is released to the project team via the designated bank account in three respective installments.


5. Is it necessary to provide a company name upon the application for the Seed Fund?
   A project name will suffice if a company name is not yet ready.


6. When will the results be announced if I apply for the Seed Fund?
   Announcement of results will be made to the teams shortlisted for panel interview. Please refer to the webpage of HK Tech 300 Seed Fund for details.


7. How long will the Incubation (Seed Fund) last?
   The Incubation (Seed Fund) will last for a period of up to 12 months.


8. What kinds of support will be provided in the Incubation Phase (Seed Fund and Angel Fund)?
   Funding support, co-working space, business matching, mentorship and other support, including milestone review, consultation, etc., will be provided when necessary to help project teams on their entrepreneurship journey.


9. Is there any time limit to develop the prototype?
   For teams which involve prototypes in their project or business, the usable prototype for market validation is expected to be developed within the Seed Fund period (i.e. within 12 months).