IDEATION



What is IDEATION?

Turn your brilliant ideas into reality and launch successful ventures with IDEATION, our one-year startup support programme for tech-focused entrepreneurs.

Through the programme, learn the fundamental skills you need to kickstart your business. We provide all-round support from designing your business model to finding investment. We guide you every step of the way, to fine-tune your ideas for technical development. 

What will IDEATION give you?

Seed Funding

  • HK$100,000 financial grant

Coaching

  • Dedicated mentor for business advice

Training

  • Topics include: Hong Kong’s startup ecosystem, Business modelling, Pitching and investment etc.

Centre Facilities

  • Co-working space access in 12 months

Potential to bridging programmes

  • Prepare for HKSTP incubation programmes admission

Is IDEATION right for you?

We’re looking to cultivate the next generation of entrepreneurs. You are welcome to join IDEATION if you:

  • Have an innovative idea supported by R&D and business planning AND
  • Are a HKID holder aged 18 and above, OR
  • Have a limited company incorporated in Hong Kong for less than 2 years by the application start date, OR
  • Have a team (must incorporate a limited company in Hong Kong before the programme starts)

How do you apply for IDEATION?

  • Submit your proposal for the assessment on Evaluation Criteria, with reference to the template provided below.
  • Complete the online application with supporting documents.
  • Evaluation Criteria
    • Team competency
    • Business development potential
    • Innovativeness
    • Research & Development

Application Timeline

May 2021 (Cohort 21-07)

  • Application Period:3 May 2021 noon to 31 May 2021 noon
  • Admission Panel Meeting (shortlisted applicants only): Late June/early July 2021
  • Result Announcement: July 2021

September 2021 (Cohort 21-08)

  • Application Period: 1 September 2021 noon to 30 September 2021 noon
  • Admission Panel Meeting (shortlisted applicants only): Late October/early November 2021
  • Result Announcement: November 2021

January 2022 (Cohort 22-09)

  • Application Period: 3 January 2022 noon to 28 January 2022 noon
  • Admission Panel Meeting (shortlisted applicants only): Late February/early March 2022
  • Result Announcement: March 2022

*Detailed programme schedule will be shared with applicants.

    

 

FAQ

Applications

No, you don’t have to. As long as you’re aged 18 or above and interested in pursuing a career in the Innovation and Technology industry, you’re welcome to join the programme on a part-time basis! We want to help you turn your amazing ideas into reality!

Our programme is designed to nurture aspiring tech-focused entrepreneurs. There is no limit to admission numbers.

At the application stage, you may apply as a team applicant without a company. When your team application has been approved by the IDEATION admission panel, then you must incorporate a limited company in Hong Kong before starting the programme.

In general, it takes around 2 months after the application deadline to complete the process.

Application process

  1. Application submission made before the deadline
  2. Pre-screening by the admission panel
  3. Shortlisted applications will be invited to an Admission Panel Meeting
  4. Presentation in the Admission Panel Meeting (only for shortlisted applications)
  5. Due diligence meeting (only for panel selected applications)
  6. Result Announcement

 

Programme offers

IDEATION participants will not receive the funding immediately. The programme is run in three stages – the preliminary stage, the mid-stage and the final stage. Participants are required to achieve a designated target to gain a portion of the funding at each stage.
In the preliminary stage, participants who have finished formulating a development plan and market identification for the coming year will receive the first $20,000.
The mid-stage is a progress assessment. Participants who have attained the expected goal(s) and customer validation will be rewarded with an additional $40,000.
The final stage is an annual review. Participants who have realised their plans with a prototype will be awarded the final allocation of $40,000.

IDEATION will give participants 10 training sessions with different themes, such as how to write a persuasive business plan and raise venture capital, so that participants gain a fundamental understanding of business management and the entrepreneurial ecosystem of Hong Kong.
Participants must complete all 10 designated courses during the one-year programme duration or they may not be able to obtain the full seed funding.

You will get access to assigned Co-working Centre under HKSTP, but you cannot use this space for your company’s registered address.

Potential IDEATION participants will be recommended to apply for HKSTP Incubation Programmes for further support on their entrepreneurial journey.
In addition to the online application, the admission panel will also evaluate a IDEATION company’s achievements during the programme to evaluate their suitability for admission into other incubation programmes.
Contact Us