Young Techpreneur Project 2022-2023

Technology has permeated every aspect of our lives, from where we live to how we live; from what we consume, how we study or what we find aesthetically pleasing. All these technological developments would not be possible without the talents of those with innovative curiosity, ideas, skills and the passion to them relevant and practical for everyone. This is the age of the Techpreneurs – that group of entrepreneurs whose whole focus is technology.

The Hong Kong Federation of Youth Groups, with the sponsorship of the Lo Kwee Seong Foundation is once again organising the Young Techpreneur Project 2022-23. Young people, aged 18 to 35, are encouraged to submit their unique proposals, combining innovation and technology as a first step on their entrepreneurial journey. A total of 15 projects will be selected and the authors will be invited to join an intensive and exclusive training programme, which includes mentorship support and then a final pitching. A shortlist of six winners will receive HKD100,000 in grants to kick-start their projects.

After an overwhelming response in 2021, this is the second year of the Young Techpreneur Project. This year there will be added components to the training, including writing proposals, marketing, design, understanding the metaverse and NFTs, as well as familiarity with  Social Return on Investments (SROI). Winners will also receive free desk space for a year, business start-up support, network referrals, continued mentorship and help to promote their projects.

 

Project Description 

Up to HK$100,000 funding (grant)

The grant of up to HK$100,000 can be used as seed money or capital funding for business development and can also help raise further funding in the future.

 

15 training courses on Innovation Technology business

[Free of charge for shortlisted applicants!]

All shortlisted applicants will be required to attend practical Innovation Technology business training courses (with an attendance of up to 80%) provided by the HKFYG to prepare for the submission of their final proposals and business start-ups.

Universities’ applicants with registered Intellectual Property Right may optionally attend the training courses. These applicants will be required to provide the trademarks / patents / copyright documents for reference.

The training courses and workshops will be as follows:

Venue: Room B-E, 11/F, Genesis, 33-35 Wong Chuk Hang Road, Hong Kong

Session Date Time Theme
1 Monday, 30 January 2023 19:00-22:00 Character Attributes of Participants and Sharing from previous YTP 2021-2022
2 Thursday, 2 February 2023 19:00-22:00 Technology Entrepreneurship – From Idea to Execution
3 Monday, 6 February 2023 19:00-22:00  Design Thinking Workshop
4 Thursday, 9 February 2023 19:00-22:00 Essential Web Development Skills and Advance Database Management
5 Monday, 13 February 2023 19:00-22:00 Workshop on Mobile Solutions & UX / UI Design
6 Thursday, 16 February 2023 19:00-22:00 Writing Smart Business Plans & Proposals
7 Monday, 20 February 2023 19:00-22:00 Learning how to apply Social Return On Investments
8 Thursday, 23 February 2023 19:00-22:00 Finance 101 & Introduction to  Start-up Funding
9 Monday, 27 February 2023 19:00-22:00 Essential Legal Knowledge: Company Formation and Maintenance, Intellectual property rights
10 Thursday, 2 March 2023 19:00-22:00 Marketing – SEO strategy & Free Online Tools for Bootstrapping Your Business
11 Monday, 6 March 2023 19:00-22:00 Content Management System, Hacking WordPress
12 Thursday, 9 March 2023 19:00-22:00 Creating social media content and data analysis
13 Monday, 13 March 2023 19:00-22:00 Pitching Skills
14 Thursday, 16 March 2023 19:00-22:00 Trends in Metaverse & NFT business introduction and opportunities
15 One of Saturday/Sunday in March 2023 TBC Site Visits – IT start-up companies or labs

 

Mentorship Support – Consultation with Industry Experts on Entrepreneurial Challenges

Initially shortlisted applicants will receive mentorship support, where a group of mentors, including senior executives, consultants, professionals and entrepreneurs from partner companies, will provide advice and support. This will help participants improve their Project proposals to increase the chances of successful selection. In addition, the selected teams will also be provided with mentors to serve as advisors on a one-to-one basis and business service providers to provide professional consulting services such as taxation, legal advice and human resources management.

 

Networking Opportunities

The HKFYG has supported youth entrepreneurship since 2000 and has a large network of entrepreneurs and business partners. It is also the founding sponsor of the Hong Kong General Chamber of Young Entrepreneurs (HKGCYE). The HKFYG has, furthermore, been organising numerous entrepreneurial activities to provide networking opportunities for young entrepreneurs.

 

One-year Free Office Space

Winning participants of the selected projects can enjoy a one year free hot-desk at The Hong Kong Federation of Youth Groups Jockey Club Social Innovation Centre.

 

Eligibility

  • Has desire and ambition to improve business and ecosystem through Innovative Technology
  • Any Hong Kong permanent resident, aged between 18 – 35 years old (as of the application deadline)
  • Can apply individually or as a team
  • Interested in technology innovation and start-ups
  • Has basic knowledge or skills on Innovation Technology, website or application design
  • Businesses that are unlawful, illegal or involve tobacco, advocacy of gambling, obscenity, etc., will not be supported;
  • Can receive start-up services or capital support offered by other organizations in Hong Kong
  • Has no bankruptcy records or involved in procedures for filing a creditor’s petition for bankruptcy
  • Has solid and feasible business plan(s) to start a technology-related business in Hong Kong; OR has already owned a start-up company in Hong Kong with less than three years of operation
  • The beneficiary teams (grantees) must register their businesses in Hong Kong and set up businesses in Hong Kong
  • If the selected teams have not been incorporated, they must complete the procedure according to the Business Registration Ordinance (Chapter 310)
  • If the intended business or existing business is owned by the applicants in the form of a partnership/limited company, all the partners/shareholders must be the applicants and fulfil the above requirements

 

Proposed Projects

The nature of business is not limited, but must be heavily aligned with, or reliant upon, different Innovation Technologies. The finalists must start their business within half a year, with an incubation period of two years. They are required to submit the progress report every three months to the Secretariat as a form of progress reports.

 

Application Procedure

The HKFYG will select potential Young Techpreneurs with the highest marks for training. On completion, with an attendance of at least 80%, and fulfilment of other requirements, they will proceed to a first round of interviews. From here 12 teams will be chosen for the final round of interview, after which six teams will be declared winners.

 

Judging Criteria

The following criteria will be used by the Judging Panel:

Use of technology and the utility of supporting service (25%)

Business can clearly illustrate dependence on technology and show how well it has benefitted from start-up supporting services that were offered

Qualities of Applicants (25%)

Demonstrate good team combination with different knowledge and skill with readiness to start their own business

Business Plan (25%)

A sound business plan, including marketing strategy, positioning, budget and contingency planning

Business Viability and Sustainability (15%)

Viability and sustainability, ready to seek for further start-up support and funding

Presentation (10%)

Well-prepared, to the point, confident in answering the questions from the judges

 

Timetable of application procedures:

Procedures Date
Submit Online Application Form Tuesday, 1 November 2022
Briefing Session #1 Thursday, 10 November 2022
Briefing Session #2 Thursday, 8 December 2022
Submission Deadline Tuesday, 20 December 2022, 5pm
Result of Shortlisted Applicants Monday, 16 January 2023
15 Training Courses January to March 2023
Mentorship Support (3 times / per team) February to March 2023
Submit the Business Proposal (Fine-Tuning) and 1 minute video introduction for First Round Interview Tuesday, 11 April 2023
First Round Interview Saturday, 22 April2023
Result Announcement of First Round Interview Thursday, 27 April 2023
Mock Interview Friday, 19 May 2023
Final Round Interview Saturday, 3 June 2023
Result Announcement (The Six Winners) June 2023
Young Techpreneur Award Ceremony July 2023
Start Time of Incubation 1 November 2023

 

Application Method

The project only accepts online applications.

Please submit the online form before the deadline (5PM, 20 December 2022). Late applications will not be considered.

 

Supporting Documents

1. Project Proposal (Maximum: 8 pages of A4 paper; Font size: 12)

2.Budget Plan:

  • Details of how grant will be used
  • Two Years Financial Forecast
  • One Year Financial Report (only for applicants who register a company)

3.HKID Copy (for all team members)

4.Education Qualifications and Working Experience References (details and documents required for all team members)

5.Valid proof of address (document/bill/official correspondence issued within the last three months from the application date, with clear indication of name and address of applicant, the name of sender and date)

6.Copies of Business Registration Certificate, Certificate of Incorporation and NNC1 (of existing/pre-owned businesses if any)

7.Registered Intellectual Property Right /Trade Marks / Patents / Copyright (certified documents if any)

 

Remarks

  1. The applicants or teams need to fulfil at least an 80% attendance rate at training sessions and attend all business clinics before the submission of their final business proposal
  2. Universities’ applicants with registered Intellectual Property Right may optionally attend the training courses. These applicants will be required to provide the trademarks / patents / copyright documents for reference.
  3. Winners will be obligated to take part in promotional activities arranged by the organiser, which can include training sessions and media interviews
  4. The organiser reserves the rights to use the design works, including photos and video material for exhibitions, promotion and publication purposes
  5. The winners must kick-start their business according to the content of the proposals within six months. Should there be need for other arrangements, justification needs to be provided, but may not be automatically entertained

 

Contact Us

The Hong Kong Federation of Youth Groups
Tel: 3595 0945 / 3956 8001
E-mail: ytp@hkfyg.org.hk
Address: Room B-E, 11/F, Genesis, 33-35 Wong Chuk Hang Road, HK
Website: sic.hkfyg.org.hk
Facebook Page: hkfyg.sic