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To reinforce its commitment to supporting entrepreneurship and startup development for the betterment of society, PolyU has recently introduced the Angel Fund Scheme. The Scheme aims to accelerate the growth of high potential technology startups founded by PolyU students, graduates and professors. Leveraging the additional annual funding from the Innovation and Technology Commission (ITC) under the Technology Start-up Support Scheme for Universities, the two-tier Angel Fund Scheme supports early-stage startups which require a higher starting capital for research and development.

 

Almost 100 applications were received for the $1M tier of the 2023-24 Scheme, out of which 15 startups were selected to each receive HK$1 million in funding. Eight startups out of 37 applications were selected for the $3M tier.

 

The two-tier Angel Fund Scheme

Tier One - HK$1M Fund

Tier Two - HK$3M Fund

Funding amount

HK$0.5 million grant by ITC
+
HK$0.5 million top-up investment by PolyU (optional)

HK$1.5 million secured private investment
+
Up to HK$1.5 million dollar-to-dollar matching grant by ITC

No. of approved startups / applications (2023/24)

15 / 100

8 / 37

 

PolyU’s holistic entrepreneurship development framework
PolyU has built a technology startup ecosystem named PolyVentures to nurture aspiring entrepreneurs among PolyU students, alumni, and academics, supporting them throughout their entrepreneurial journeys and equipping them for long-term success.

 

  • Education/Ideation - nurturing future leaders with an entrepreneurial mindset, as well as equipping them with skills, knowledge and practice
  • Incubation support - including the PolyU Micro Fund Scheme and the GBA Startup Postdoc Programme
  • Investment for acceleration – including the Angel Fund Scheme and the PolyU Entrepreneurship Investment Fund, with a goal of nurturing 20 deep tech ventures each year