Pitching Competition FAQ

1. How can I apply?
Please submit your application online here. If you have any supplementary information such as brochures, powerpoint and photos, please zip them into one file and upload during the submission. All materials submitted should be in English.
2. What are the judging criteria for the 100 finalists?
The judging criteria include:
  • Business Overview
  • Market Potential
  • Technology Highlight
  • Business Model
  • Revenue Model
  • Management Competency
For details, please refer to “Judging Criteria”.

Please note that some of the questions in the application form represent the above judging criteria. It is important to fill up each question precisely and concisely.
3. Can I apply the competition if I am an overseas company/participant?
Yes. This competition is open to all tech start-ups from around the world who
  • are less than 5 years old as of 24 April 2017
  • received less than US$10 million in funding as of 24 April 2017
  • accept the terms and conditions as set in the rules and regulations
  • must intend to accept the terms of a standard call option investment (Please refer here for the sample call option and investor rights agreement.)
If you are awarded the champion, you need to have a company registered in Hong Kong at the time of signing the agreement with the investors.

HKSTP will subsidise the overseas company/individual ONE round trip economy ticket to Hong Kong if he/she is being shortlisted in the 100 finalists.

Individuals with innovative ideas may also apply.
4. Can I apply if I have not yet set up a company?
Yes. Individuals, from local or overseas, with innovative ideas may also apply. If you are awarded the champion, you need to have a company registered in Hong Kong at the time of signing the agreement with the investors.
5. Can I still apply the competition if I have already participated in similar competitions organised by HKSTP?
Yes. This competition is open to all tech start-ups from around the world who
  • are less than 5 years old as of 24 April 2017 (Individual may also apply.)
  • received less than US$10 million in funding as of 24 April 2017
  • accept the terms and conditions as set in the rules and regulations
  • must intend to accept the terms of a standard call option investment (Please click here for the sample agreement for reference.)
6. Is there any financial assistance for overseas start-ups to travel to Hong Kong for the competition?
HKSTP will subsidise the overseas company ONE round trip economy ticket to Hong Kong if she is being shortlisted in the 100 finalists.

For accommodation, HKSTP is now exploring with a few potential partners and hopefully they can give a better deal for the overseas contestants.

To make the trip more fruitful for the overseas contestants, a number of activities will be arranged from 30 October to 3 November including
  • Pre-pitch workshop and one-on-one mock pitch
  • Visit to Science Park, Cyberport, Universities & R&D Centres
  • Talk by InvestHK on the business oportunities in HK
  • One-on-one investment matching and showcase on-site
  • And many more…
7. When will I know whether I am being shortlisted as one of the 100 finalists?
100 finalists will be announced on 13 October 2017. Please also take note of the following important dates:
  • 30 September:  Application closes
  • 1 October – 12 October: Screening and selection by organising committee
  • 13 October: Announcement of the 100 finalists
  • 30 October: One-on-one mock pitch and pre-pitch workshop
  • 2 November: Elevator Pitch Competition
8. What are the prizes/awards?
The champion will receive an investment prize of USD 120,000 in the form of call option, which is funded by the judge panel at a fixed amount of USD 10,000 per judge.
(Please refer here for the sample call option and investor rights agreement.)

The top 10 finalists will also have a chance to compete for two cash prizes of USD 10,000 each as well as the opportunities to take part in the investment matching and road shows overseas.
9. What is call option?
The champion will receive an investment prize of USD 120,000 in the form of call option, which is funded by the judge panel at a fixed amount of USD 10,000 per judge. This call option gives the investor the right to buy the equity of the champion at a certain exercising price within a certain period of time. The terms and conditions such as the exercising price and expiry date of the call option are subject to further discussions between the champion and the individual investors. HKSTP’s role is to facilitate the process and provide a call option agreement template as a suggested starting point for those discussions. (Please refer here for the sample call option and investor rights agreement.)
10. What happens if the champion and the investors cannot reach an agreement on the call option terms and conditions?
The champion will be connected with each individual investor to discuss on the detailed terms and valuation. To facilitate the discussion, HKSTP will prepare an agreement template.

Some investors may not be able to agree terms with the champion, but many may invest even more than the stipulated amount (US$10,000).

As a start-up who can outperform the other contestants, she should be of high quality and will be able to attract the investors at a fair valuation.

In short, the terms and the valuation is subject to discussion between the champion and each individual investors.
11. How much share will the investors take in the champion?
The champion will receive an investment prize of USD 120,000 in the form of call option, which is funded by the judge panel at a fixed amount of USD 10,000 per judge. This call option gives the investor the right to buy the equity of the champion at a certain exercising price within a certain period of time. The terms and conditions such as the exercising price and expiry date of the call option are subject to further discussions between the champion and the individual investors. HKSTP’s role is to facilitate the process and provide a call option agreement template as a suggested starting point for those discussions. (Please refer here for the sample call option and investor rights agreement.)

In short, the terms and the valuation is subject to discussion between the champion and each individual investors.
12. How much equity will the investors get for US$120,000?
The amount of equity that the investors will take depends on the valuation of the champion. The valuation of the champion company will be discussed between the champion and the investors. For example, if the valuation is agreed at USD 1 million, the investors will take 12% equity.
13. I have not established any company yet. As an individual applicant, can I put “Not applicable” for the questions in the form on “Business Valuation”, “Revenue Model” and “Company Logo”?
You can put “N/A” if you really face difficulties in completing those sections. But your input for the “Business Valuation” and “Revenue Model” sections will facilitate the investors to understand more about your business potential which will directly affect the investment opportunity. “Company Logo” in the form is optional and is for promotional purpose only. The organiser will publish the 100 finalists’ business overviews and logos (if any) in the event booklet which will be distributed during the event.
14. Can my partner and myself pitch in the elevator and present on stage if I am being selected as the top 10?
No. Only ONE representative from each company will pitch in the elevator and present on stage.
15. Can I pitch in Cantonese or Mandarin?
No. All the pitches and presentations should be in English.
16. Can I still apply if my company is not registered in my name in Hong Kong?
Yes. You can apply even if your company is not registered in your name. If you are being selected as one of the 100 finalists, you can nominate any representative from your company to pitch and present in the elevator.