Alibaba Hong Kong Entrepreneurs Fund (AEF) today announced that HSBC will be the title sponsor of the startup event JUMPSTARTER, which will be named Alibaba Entrepreneurs Fund/HSBC JUMPSTARTER 2022 Global Pitch Competition (JUMPSTARTER 2022). AEF and HSBC will be working closely together to promote the event to startups worldwide, and encourage interaction and experience-sharing among entrepreneurs.
JUMPSTARTER 2022 is now open for applications until November 28, 2021. The top 100 entrants will be selected by the judging panel and enter the pitching phase in December. The top ten will participate in the finals early next year, competing for a total of up to USD 4 million investment and other awards. Hong Kong Cyberport Management Company Limited (Cyberport) and Hong Kong Science and Technology Parks Corporation (HKSTP), co-organizers of the event, will take part in a joint investment to provide further support to fuel the growth of startups.
The ten finalists of JUMPSTARTER 2022 will have the opportunities to participate in exchange programs and market research activities managed by AEF in Hong Kong and other cities in the Greater Bay Area (GBA). In addition, JUMPSTARTER 2022 will arrange industry experts to share their experience, helping startups to understand more about the market environment in the GBA and expand their business network, so as to identify opportunities for future growth.
Meanwhile, the top 100 of JUMPSTARTER 2022 will take part in the Alibaba Netpreneur Training Program. The quota has increased from last year’s 20 to 100 this year, as a way to provide network and resource support, apart from capital, for the startups.
Cindy Chow, executive director of Alibaba Hong Kong Entrepreneurs Fund, said, “Since onset of the pandemic, like other startups, Alibaba Hong Kong Entrepreneurs Fund has never slowed down its pace and continued to respond to market changes in a swift and active manner. Noticing the rapid development of the startup ecosystem and market, JUMPSTARTER 2022 caters to the current trend and focuses on five sectors including fintech, deep tech, healthcare, art tech, and sustainability. It hopes to act as a bridge to connect the startups, facilitating them to learn more about the latest trends in the market. AEF believes that JUMPSTARTER 2022 can encourage and support the startups to further develop, injecting new impetus into Hong Kong and other cities in the GBA.”
Christina Ong, head of business banking, commercial banking, Hong Kong, HSBC, said, “HSBC is committed to supporting startups and small businesses across all sectors along their growth journey. As an up-and-coming economic powerhouse, the Greater Bay Area offers the combined strengths of an international capital market for fundraising, research capabilities, manufacturing facilities, and an enormous consumer market for startups to grow and thrive. JUMPSTARTER 2022 offers an excellent platform for entrepreneurial talents to capture the ample market opportunities in this vibrant city cluster and unleash their potential over time.”
Peter Yan, CEO, Cyberport, said, “Complementing the National 14th Five-Year Plan, Hong Kong is deepening and expanding its connection with the GBA to allow more room to develop technology and innovation. As the digital flagship in town, Cyberport has been actively supporting startups to expand their business and tap into the GBA. We encourage more startups to seize the opportunities and compete for the support offered by JUMPSTARTER 2022. With an increasing number of startup projects supported by capital from mainland China and executed in the GBA, we believe that we can create stronger synergy to facilitate the development of the GBA as an international technology and innovation hub.”
Albert Wong, CEO, HKSTP, said, “HKSTP has always been dedicated to building a vibrant and competitive I&T ecosystem in Hong Kong and GBA by helping startups scale and access a host of resources including industry expertise, partner and investor networks, and R&D support. We are delighted to continue our partnership with Alibaba Hong Kong Entrepreneurs Fund to support promising startups and inspire more young talent to begin their entrepreneurial journey through JUMPSTARTER 2022. Together, we will capture new opportunities emerging from GBA to accelerate the development of I&T for a brighter future.”
JUMPSTARTER 2022 is open to startups that have been operating for fewer than five years and plan to expand into Hong Kong or other cities in the GBA.
Another highlight this year is the four online sharing sessions in early November that will target startups from cities in mainland China, the Guangdong-Hong Kong-Macao Greater Bay Area, and Southeast Asia. Successful startups and experts from a variety of industries will be invited to share their experiences during their entrepreneurial period, such as how to solve problems, the reasons for choosing Hong Kong or other cities in the GBA to develop business, analyze the business environment in the region, and the development opportunities of multiple emerging industries.
“Developments in the GBA offer unlimited opportunities, the economic scale is comparable to that of metropolitan areas such as New York, San Francisco, and Tokyo, bringing huge development potential for startups. We have noticed the rising demand from startups to explore business and financing opportunities in the GBA. With the help of our partners, we hope to deliver more abundant online and offline resources and sharing activities, which support them to further explore the business environment for startups in these cities. Looking forward, AEF will continue to focus on achieving goals for participants, and encourage more institutions with the same vision to join us in nurturing startups,” Chow added.
Since its establishment, Alibaba Hong Kong Entrepreneurs Fund has invested approximately USD 80 million into 55 startups, attracting co-investment funding of about USD 2 billion to support these startups. Its investment portfolio covers a wide range of areas, including green technology, educational technology, fintech, medical and healthcare, logistics, and e-commerce.
JUMPSTARTER 2022 is now open for applications. Interested parties can visit www.jumpstarter.hk/en for more information.
JUMPSTARTER application requirements and timeline
If your startup fulfils the following criteria at the time of your application, you are eligible to apply:
- In operation for fewer than five years
- Raised less than USD 20 million in funding
- Startup funding is between the seed and Series C stages
- Possess a ground-breaking and innovative product or service
- Desire to make Hong Kong or the GBA part of your future plans
JUMPSTARTER 2022 Global Pitch Competition Timeline
Global callout: Mid-September to November 28, 2021
Announcement of top 100 and semi-pitch: December 2021
Announcement of top ten: January 2022
Grand finale: March 2022
About Alibaba Hong Kong Entrepreneurs Fund
Alibaba Hong Kong Entrepreneurs Fund is a not-for-profit initiative launched by Alibaba Group in 2015. To vitalize the development of innovation and technology, AEF’s mission is to help Hong Kong entrepreneurs and young people realize their dreams and visions for a Hong Kong that is vibrant and engaged regionally and globally. As part of its investment program, AEF provides Hong Kong-based entrepreneurs with investment capital and strategic guidance to help them grow their businesses and penetrate the mainland Chinese and global markets by utilizing Alibaba’s ecosystem. For more information, please visit ent-fund.org.
JUMPSTARTER is a not-for-profit initiative created by Alibaba Hong Kong Entrepreneurs Fund that provides a platform for all entrepreneurs and young people to jump-start their dreams in Hong Kong. It is a first-of-its-kind startup event focused exclusively on showcasing quality startups and providing high-impact networking opportunities. Its goal is to build, empower, and boost Hong Kong’s startup ecosystem and entrepreneurship by bringing entrepreneurs, corporations, investors, and the public together, helping to transform Hong Kong into a leading hub for global innovation and technology. For more information, please visit www.jumpstarter.hk.
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This was published in partnership with Alibaba Entrepreneurs Fund.