2019.11.05PolyU stages Entrepreneurship Parade in support of more than 60 projects

Dr Lawrence Li, Deputy Council Chairman of PolyU, addressed at the opening ceremony of PolyU Entrepreneurship Parade 2019 PolyU Entrepreneurship Parade 2019  is officiated by Dr David CHUNG, Under Secretary for Innovation and Technology of the Hong Kong SAR Government Officiating guests and representatives of some of the entrepreneurial projects on display at the PolyU Entrepreneurship Parade 2019Officiating guests and representatives of some of the entrepreneurial projects on display at the PolyU Entrepreneurship Parade 2019Officiating guests and representatives of some of the entrepreneurial projects on display at the PolyU Entrepreneurship Parade 2019

The Hong Kong Polytechnic University (PolyU) kicked off the "PolyU Entrepreneurship Parade 2019" today (5 November) to showcase its support for 64 entrepreneurial projects, which received PolyU funding and training last year. Following today's opening ceremony, a three-day public exhibition of the entrepreneurial projects will be held from 6-8 November on the PolyU campus. The Parade offers a perfect opportunity for young entrepreneurs to network and engage with their peers, and to pitch their ideas to potential investors or business partners. Details about the Parade can be found here: https://www.polyueparade.hk/.

The opening ceremony of the annual flagship event was officiated by Dr David CHUNG, Under Secretary for Innovation and Technology of the Hong Kong SAR Government, andDr Lawrence LI, Deputy Council Chairman of PolyU.

Addressing the opening of the Parade, Dr Lawrence Li said, "PolyU is committed to fostering knowledge transfer and entrepreneurship development. Thanks to the support from the Government and industry, PolyU has become the largest university-based incubator in Hong Kong, with a funding pool of more than HK$10 million annually to provide seed grants to start-ups, social enterprises and innovative student projects. PolyU has also been scaling up its efforts and extending its impact in promoting entrepreneurship in the Greater Bay Area (GBA)."   

Dr David Chung praised the PolyU-supported innovative projects for demonstrating the "Do Good Do Well" spirit, and contributing greatly to the community at large. Addressing the opening, he spoke of the Government's support in promoting entrepreneurship in the tertiary education sector. "In 2014, we launched the Technology Start-up Support Scheme for Universities, which by early this year has supported 188 start-ups established by university teams to venture beyond their campus. The maximum annual funding for each university will also rise from HK$4 million in 2019 to HK$8 million in 2020 to better nurture university start-ups. We have as well supported over 700 PhD students and 4,000 interns to join the scientific research community through the Postdoctoral Hub and Researcher Programme."  

The opening attracted about 100 participants from different sectors, and included entrepreneurs, investors and incubators from Hong Kong and the Chinese mainland. Three young entrepreneurs supported by PolyU were invited to share their joy and tears in pursuing their dream. They also generously shared with the audience some tips for success in starting up a new business.  Dr Abraham LAM is the Director of MEGA Automation which integrates traditional building management with advanced technology to help corporates cut energy consumption. Ms Eva WONG is a co-founder of WEDO Global —a social enterprise advocating multi-cultural education and nurturing cross-cultural youth leaders. Mr Edwin WONG is the founder and Chief Executive Officer of Cloudbreakr —an intelligent influencer platform that connects content creators in different industries for social endorsement and business purposes.

A total of 24 entrepreneurial projects which received PolyU funding and training support in 2018 are showcased in the Parade. They represent a wide spectrum of products, services and technologies in fields that include Health Tech, FinTech, Travel, Education and Entertainment, Design and Social Innovation, Advertising and Retail Tech, and Gadgets and Electronics. Among these projects, quite a number have started to sell their products or services in the market. The following are some examples.

-        Eternal Billion (HK) Ltd develops self-help medical devices and services for women preparing for pregnancy. With accurate ovulation period monitoring and AI-enabled fertility prediction, the hand-held test kit can also be used for medication monitoring of In Vitro Fertilization (IVF) users.

-        Studio Doozy Ltd designs and develops accessible products for healthy, quality and dignified ageing at home. In addition to catering for the needs of the elderly, its products are also suitable for wheelchair users, people with Parkinson's disease, stroke or movement problems, as well as for the able-bodied. Current products include an all-inclusive modular toilet, and a semi-automatic shower chair.

-        Blue Pin Consulting (HK) Ltd offers an effective indoor positioning system for different venues, especially exhibition venues, in both Hong Kong and the Chinese mainland. Besides performing indoor positioning, navigation and personalised product matching and promotion, the start-up aims to extend the application of its patented technologies to areas that include AR navigation, and car parking and robot fleet management.

-        Fund-Land Technologies integrates hospitality consumer data and financial supply chain services to provide a bank-like clearing platform for hotels. After having paid an advance payment to the platform, small and medium enterprises can book hotel rooms at preferential rates, while the hotels will receive monthly payment from the platform for rooms booked. It thus greatly reduces hotels' risk of being bilked and enable them to retain or even grow their customers. The company also launches a pioneering "Enterprise Pay" system, which integrates the payment processing of paying party, financial institutions, hotels, corporate customers and suppliers.

Five projects developed by students under the PolyU Student Entrepreneurial Proof-of-Concept Funding Scheme and the PolyU Lean Launchpad Programme are also featured in the exhibition. The Schemes aim to support innovative endeavours at both undergraduate and postgraduate levels.

Since 2011, PolyU has provided funding support to over 270 startups and has nurtured more than 900 young entrepreneurs. The start-ups have secured follow-on funding resources amounting to over HK$380 million. About 70% of the start-ups are still in operation, and many of them are expanding their markets beyond Hong Kong to markets that include the Chinese mainland, Taiwan, South East Asian countries and the United States.

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Denise Wong

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Emaildenise.wf.wong@polyu.edu.hk
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