Start-ups in 60-second business-pitch battle as they ride lift in Hong Kong’s tallest skyscraper
- Japanese company, which creates hi-tech artificial legs, named overall champion at Elevator Pitch Competition 2019 held at International Commerce Centre
- Annual event, hosted by Hong Kong Science and Technology Parks Corp attracts record 650 entries from 48 countries and cities – up from 591 last year
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A Japanese artificial intelligence and robotics company won the top award at the Elevator Pitch Competition 2019 (EPiC), which saw 126 international companies pitch their business ideas during a 60-second lift ride in Hong Kong’s tallest building.
BionicM, which creates state-of-the-art artificial legs and other mobility solutions for lower limb amputees, was named overall champion and winner in the AI & robotics category to claim total prize money of US$110,000 at the November 8 event at sky100 – the 393-metre (1,290-foot)-high observation deck on the 100th floor of the International Commerce Centre.
The event, hosted by Hong Kong Science and Technology Parks Corp (HKSTP), attracted 650 entries from 48 countries and cities – up from 591 last year. More than 1,000 entrepreneurs, venture capital firms, angel investors, industry players, incubators, accelerators and tech disrupters also took part.
“The 60-second elevator pitch – a very short, succinct presentation – was really challenging and required a lot of preparation and concentration,” Sun Xiaojun, founder and CEO of BionicM, said.
“The award and funding will allow us to accelerate our R&D efforts and we will do our best to commercialise and launch our products as soon as possible. The recognition also gives us more exposure to attract the attention of investors and the tech and health care communities.”
Joseph Fung, managing partner of Saltagen Ventures, and a member of the judging panel, applauded the overall performance of contestants as they presented their ideas and innovations in a precise and forceful manner.
“The EPiC serves as a perfect stage for investors like me to meet talent from across the globe and discover high potential investment opportunities,” he said. “As for start-ups, they can earn the exposure, connection and even a solid investment fund they need for further development.”
A renowned venture capital firm in Hong Kong and Canada, Saltagen Ventures has proactively encouraged Canadian start-ups to take part in the event. “We hope to see start-ups attaining international status and are glad to facilitate this global innovation collaboration,” he said.
Italian start-up Oncology and Cytogenetic Products (OaCP) was named the Health Technology category winner. Singapore’s Osome won the FinTech category, while EcoPackers, from Canada, topped the Smart City category.
Nuha Siddiqui, CEO and co-founder of EcoPackers, also helped her company claim a second prize when she won the “My Favourite Pitcher” category after a public vote.
The 126 finalists were given a 60-second ride in the ICC’s lift to pitch their ideas. Judges then narrowed them down to a shortlist of 10 companies, which then competed for the top prize in a three-minute pitch on stage.
“Both the elevator and onstage pitches were truly a unique experience,” said Siddiqui, whose company transforms agricultural by-products into cost-effective, 100-per-cent biodegradable and non-toxic alternatives to plastic inputs.
“It’s so great to have presented my ideas. This occasion is a good opportunity to reach out to and build a connection with other entrepreneurs.”
Visa, an established payments technology company, has also given its support to the EPiC by sponsoring the event
“At Visa, we’re keen to partner with start-ups that bring us new insights and fresh ideas,” Maaike Steinebach, Visa’s general manager for Hong Kong and Macau, said. “This event gives us great opportunities to connect with start-ups from different countries and cultures.
“A high level of international participation paints a fuller picture of what’s happening in the global fintech space.”
During the event, Sanomics, an HKSTP partner company that provides a novel genetic testing service for safe and quick cancer diagnoses, revealed the advantages of establishing an R&D base at Science Park.
The company has received HKSTP’s funding support in operating and capital expenditure, as well as rental subsidies.
These are the entitlements given to members of the ELITE programme, a major partnership initiative that attracts high-potential tech companies from Hong Kong and around the world with pioneering R&D capabilities to set up or expand their operations locally.
Albert Wong, CEO of HKSTP, said: “EPiC is HKSTP’s platform to provide start-ups with the most direct form of support and networking opportunities, where they can collaborate and share experiences.
“The growing number of entries and diversity of contestants in this year’s competition is proof of Hong Kong’s attraction to entrepreneurial talent and investors as an innovation and technology hub.”
In the run-up to the event, HKSTP’s Global Acceleration Academy hosted a three-day business exploration tour to boost contestants’ pitching techniques and to introduce them to the resources and support they can turn to when starting up their businesses in Hong Kong.
The tour included sharing sessions on topics such as digital marketing, company structure and taxation in Hong Kong and China, and Asian business culture and networking opportunities with business partners across industries.
Another highlight was the Angel x Corporate Venture Conference 2019 on November 7, co-organised by HKSTP and Hong Kong Business Angel Network, which saw more than 200 start-ups, venture capitalists, angel investors and regional incubators share investment strategies and insights and explore cross-border co-investment and acquisition opportunities.
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