Saying that 2020 has been a difficult 12 months can be an understatement. This 12 months, companies had been confronted with among the most unprecedented obstacles amidst the COVID-19 pandemic that put many sectors on a standstill. Many startups throughout Asia and past underwent shutdowns and layoffs of their wrestle to remain afloat.
As we’re navigating in the direction of the “subsequent regular” after the pandemic, companies and entrepreneurs have to discover methods to outlive, maintain, and scale-up for a stronger financial system. That is the place digitalisation and innovation figures in serving to construct a resilient and profitable future, as instructed by a TENCENT study.
Lately, Hong Kong Science and Know-how Parks Company (HKSTP) launched their annual flagship occasion Elevator Pitch Competition (EPiC 2020), inviting functions from modern entrepreneurs worldwide. Given the worldwide journey restrictions and lockdowns, HKSTP will stage the occasion just about for the primary time, reaching out to extra world startups, traders and company companions to unlock the alternatives behind.
“EPiC is without doubt one of the most necessary occasions pushing ahead the event of innovation and know-how (I&T) in Hong Kong that we should always proceed to drive. A digital occasion that brings collectively startups and traders from throughout the area is opportune. The occasion wouldn’t solely give startups an opportunity to brush up their presentation expertise however it’ll additionally enable them to confirm their concepts by speaking to the traders. Being agile to disrupt and pivot is of the essence for startups to tide over these troublesome instances,” stated Albert Wong, CEO of HKSTP.
The pitching competitors, which presents a complete of US$200,000 in money prizes, is scheduled to happen on sixth November, adopted by the International Matching programme from ninth to 12th November and the “Funding x Company Innovation Convention” on 13th November.
A legacy of success
Marking its fifth anniversary, EPiC has been supporting and motivating innovators to form their distinctive entrepreneurship journey for the previous years. Final 12 months alone, the competitors attracted a file variety of over 650 entries from 48 international locations and cities. Singapore-based startup Osome, a web-based platform that gives outsourced firm incorporation, firm secretary, accounting and immigration companies, was final 12 months’s Fintech award winner. This recognition coincided with their launch in Hong Kong.
“With EPiC, we acquired a chance to pitch our concept to the native tech and enterprise capital group alongside different promising startups. The money prize we acquired has been a pleasant reward however probably the most important profit is the chance to community and construct up our model at an early stage of our presence within the metropolis. A number of companions we now have began working with talked about that they remembered us from the occasion. I’d undoubtedly advocate taking part in EPiC to any startups which might be about to increase to Hong Kong,” Vladislav Sharuda, co-founder of Osome, shared.
EPiC 2020 will assist startups acquire entry to go-to-market help, publicity to funding alternatives and an opportunity to construct a community with world stakeholders and trade leaders. The taking part startups will pitch their modern enterprise concepts just about by way of a 1-minute video to a judging panel who will choose the highest 10 finalists to be introduced throughout the last pitching competitors. The highest 10 will battle to be named EPiC champion of 2020 with a 5-minute presentation plus an interactive Q&A session.
“The startups must be very exact in articulating their worth. I’d advocate that they begin by rapidly stating the issue assertion and telling the traders how they’re going to unravel that drawback,” stated Gordon Yen, one of many judges of EPiC 2020 and the founding administration associate of Radiant Tech Ventures.
Serving to startups scale globally by means of collaborative innovation and partnerships
The brand new regular is spurring I&T inside organisations and their future success will more and more hinge on firms being open to novel concepts and a collaborative enterprise method. On the core of HKSTP is the aim of fostering I&T and serving to innovators scale their companies throughout the area and past. In keeping with this imaginative and prescient, they’re making a collaborative ecosystem with totally different stakeholders.
The International Matching programme seeks to attach entrepreneurs with key trade stakeholders, together with traders and company leaders, enabling them to discover enterprise and funding alternatives and rapidly get their modern options to the markets within the Higher Bay Space and Asia.
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“All traders clearly search for winners—firms that may truly determine an issue in a possible market, and supply an environment friendly resolution to handle that drawback. Clearly, traders typically measure that when it comes to ROI however at EPiC, we begin with a deal with figuring out whether or not a startup is offering actual worth for the goal prospects or not. Once we see actual worth in a big sufficient market, then we go on to analyzing the pricing and returns,” stated Yen.
EPiC 2020 will conclude with the “Funding x Company Innovation Convention”, which is able to deliver collectively I&T leaders and world pioneers with a deal with conversations about regional funding alternatives and methods to drive company innovation and development.
Hong Kong to proceed its efforts in driving I&T growth
In Asia, Hong Kong has been a serious funding hub and reports counsel that the town will proceed to stay a monetary centre attracting capital from throughout the area and the world. The Hong Kong authorities recognises this potential and has been pushing for development by means of digitalisation and innovation for current years.
“The world is disrupted by know-how and we now have to experience on this momentum. I&T is necessary for the way forward for Hong Kong to create financial variety and extra job alternatives. The problem for us is to assist flip the scientists into innovators, and into entrepreneurs,” stated Wong.
With the target of bringing the world ahead amidst the pandemic by leveraging the technology-based disruptions and improvements, the time is ripe for modern entrepreneurs to provide their companies a head begin as they put together to embark on the street to the way forward for the “subsequent regular”. The enterprise local weather is predicted to be much more cutthroat, and EPiC 2020 will function a platform for startups to search for new enterprise alternatives.
Functions are open until 21st October 2020 23:59 hrs Hong Kong time. startups and entrepreneurs can go to the official site for extra particulars.
This text is produced by the e27 group, sponsored by Hong Kong Science and Know-how Parks Company
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