Start-ups putting the priority on R&D in the early development stage may overlook whether their projects meet market needs or industry development trends, which may result in slower commercialisation and funding progress. Global Acceleration Academy (GAA) aims to help start-ups effectively achieve the goal of commercialising their R&D. Within the partnership framework of GAA, participating start-ups will be provided with project idea validation by the industry giants. This unique element helps to ascertain in an early stage that the products meet market needs.
Under this initiative, HKSTP partners with international industry leaders of different fields to develop thematic acceleration programmes (“Programme”) tailored to the development needs of individual industries. Each Programme will last three months, during which HKSTP and the partner company will provide participating start-ups with intensive workshops, which include immersive visits to leading companies of the associated industry, to enable them to gain better understanding of the market trend of the industries.
The 3-month Programme will finish with a “Demo Day”, during which the participants will meet with potential business partners and investors to showcase their projects. It is also an opportunity for start-ups to win more support for commercialising their projects.
Various parties to be involved to create greatest value for startups.
Frequently Asked Questions
- Who are eligible for the Programme?
Basically we welcome any startups related to the specific themes of each Programme to apply. We have no restrictions/ limitations on the duration of an applicant's business setup. We don’t have strict requirements on whether an applicant should be registered company in Hong Kong. But this will allow you to move further with potential investors and business partners.
- What is the selection procedure/criteria?
Both the industry partner of the Programme and HKSTP will be on the selection board to assess applicants’ capabilities in innovativeness, technology, market potential, team background, synergy level with the industry, etc. We will select 8-10 companies to join each 3-month programme.
- Is there any fee or cost to be charged against successful applicants?
No application fee or equity will be taken from the applicants.
- What is the Programme time frame?
Each Programme is to be launched in every calendar quarter. We will open the application period around 6 weeks before. For example, the application period of an October Programme starts in mid-August. The selection process will take 1-2 weeks, after which the selected applicants will be notified and asked to accept the offer. The Programme runs from Week 1 to Week 13, filled with training, consulting, pitching, immersion trip, and end with a Demo Day where the teams can showcase their achievements to potential investors and business partners.
- Introduction of Global Acceleration Academy