PolyU has been helping students and young graduates embrace their entrepreneurial goals via funding, mentoring, and business development support through the PolyU Micro Fund Scheme since 2011.
Under the ethos and spirit of “Do Well Do Good”, the University offers support for entrepreneurship with five funding schemes, targeting specific market segments and phases of the early-stage start-up value chain. Most of the schemes partner government-supported incubation funding agencies, such as Shanghai Technology Entrepreneurship Foundation for Graduates (STEFG), Hong Kong Science and Technology Parks Corporation (HKSTP) and The Social Innovation and Entrepreneurship Development Fund (SIE Fund). Together with structured angel investments, the five funding schemes operating under the micro funding platform offer grants nearing HK$10 million per year, supporting 50 to 60 early-stage start-ups and social innovation projects.
As of 31 March 2019, PolyU had supported more than 250 start-up ventures through its funding schemes, providing related training to over 8,000 young entrepreneurs and potential entrepreneurs with an aggregate of over 92,400 training hours. The performance of the supported start-ups was encouraging, with around 75% still actively operating. Many had secured further funding amounting to more than HK$381 million. Out start-ups were well-regarded by industry professionals and had collectively won over 150 international and regional awards.
Leveraging PolyU’s Technologies and Innovations
The motto of The Hong Kong Polytechnic University (PolyU) is "To learn and to apply, for the benefit of mankind". This wisdom-laden motto is derived from a Chinese saying first appeared in the famous Yi Jing (the Book of Change), one of the most influential classics in ancient Chinese culture and literature, as well as from a couple of treatises from Han dynasty and pre-Qin period. The original texts urge the readers to learn every piece of truth, and then apply the knowledge learned from such truth to complete daily tasks, as well as to learn and to serve.
Upholding this motto, PolyU offers a plethora of high quality professional programmes with an aim to nurture its students, shaping them into creative, responsible and successful future leaders. Over the years, we have also established a strong platform on which high impact knowledge or technology with good practical value developed by our academics can be optimally passed on to industry or other sectors, eventually benefiting everyone in our society. And it is one of the main responsibilities of the Institute for Entrepreneurship, which is, in essence, the technology transfer office of PolyU.
Through this technology transfer office, PolyU conducts such strategic activities in four major modes, namely spin-off companies, collaborative research, consultancy as well as technology licensing. Our approaches allow utmost flexibility where we work closely with our strategic partners in industrial or commercial sectors, paying extra attention to their specific needs.
In fact, The Hong Kong Polytechnic University is among the most prolific institutions in the aspect of research and development in the region. Year after year, the convincing figures contribute to justifying our pride in the University’s achievements, and continue to consolidate our leading position in basic and applied research. Technology licensing allows companies to harness PolyU’s advanced technologies in order to sharpen their competitive edges while developing innovative products. In the year 2013/14, The Hong Kong Polytechnic University entered into more than 40 licensing agreements, Memoranda of Understanding (MOU), or non-disclosure agreements for transfer of proprietary knowledge.