HKSTP helps technology startups, who are developing business innovation projects with the Incu-App Programme.
Incubatees will enjoy a full range of tailor-made support services and facilities that will help drive their businesses to the next level of development.
Incu-App incubatees will be able to tap into the expertise of content development, application platforms and market support value chains.
During the incubation period, admitted incubatees will be offered co-working space or office premises at Hong Kong Science Park / InnoCentre.
Financial Aid Package
To ensure that incubatees have higher chances of succeeding, HKSTP offers each and every company funding to cover R&D and business development expenses.
To access this funding, incubatees are subject to milestone assessments conducted every 3 to 6 months thereafter during the incubation period.
As Incu-App incubatees represent the best in their field, so we also expect the best.
Milestone assessments are conducted every 3 to 6 months thereafter during the incubation period, in areas including but not limited to:
- Product development
- Business development
- Corporate development
- Cash flow status
- HKSTP service used
Unsatisfactory milestone assessment may result in early termination of the incubation licence, together with all benefits offered by the programme.
Mandatory Admission Criteria
The applicant should meet the following conditions to apply for the Incu-App Programme:
- An applicant must be a Hong Kong registered technology startup company established for no more than 2 years before the date of application. HKSTP may request for proof including but not limited to audited financial reports of the company.
- Founding team members must hold more than 50% of the company at the time of application submission. Founding members must be individual shareholders or non-operating holding companies (as reflected by the Articles of Association or any other valid proof).
- The company must have at least one full-time staff members; and all staff must be able to work in Hong Kong legally. The team of full-time engineers and technologists must, individually or collectively, own at least 10% of the company's equity. If the applicant has technology from a university and the applicant is approved by the said university, any shares held by the founding university professor(s) shall count towards the 10% equity ownership requirement.
- At least 50% of full time staff must be engaged in technology related work and based in Hong Kong Science Park.
- R&D activities must be carried out at the Incubation Centre. It cannot operate as a sales and marketing office only.
- No retail activities or large-scale production shall be conducted at the Incubation Centre.
- The applicant's office and work bench set up at the Incubation Centre must be environmentally friendly (i.e. must not create smell, noise or other elements which may disturb others) and should not handle hazardous materials (except in the wet labs of Biotech SME Centre adhering to HKSTP published safety standard and guidelines), and must be able to operate in an office building.
- Normally, a shareholder working for the applicant cannot be a shareholder or former shareholder who is working for or worked for any of the following:
(i) more than two other companies in the same field that have previously joined and failed to graduate from any incubation programme operated by HKSTP, Hong Kong Cyberport Management Company or Hong Kong Design Centre (together the “HK Incubators”);
(ii) a company in the same field that has previously joined and graduated from any incubation programme operated by any of the HK Incubators; or
(iii) a company in the same field currently in any incubation programme(s) operated by any of the HK Incubators.
- Requirement of less than 1,600 sq ft of office space.
- In case of successful application, the applicant needs to fulfill the admission criteria throughout the incubation period, and maintain at least 2 full-time staff members at the office at Hong Kong Science Park Technology Incubation Centre, where they should conduct the core R&D work.
- The applicants should have a full disclosure of shareholder's identity and holding (up to the top level) of the applying entity. The general guideline is that should there be corporate shareholders, they should not be mature companies in the same industry involving in the R&D of the same or similar products.
Other Qualitative Assessment Criteria
- Quality and competence of the management team
- Sound business plan
- R&D content
- Milestones set for every 3-6 months after move-in Application Procedure