French Tech Talk #8 – The rise of Virtual Reality
Check the event’s replay below!
French Tech Talk #7 – How to leverage Public Funding to grow my startup in HK
Entrepreneurs experiences’ feedback
Thanks Emmanuel Lefort, Adrien de Lavenère-Lussan and Stephane Laurent Villedieu! The key takeaways of their experiences:
- You’re building your product for your users, whichever personal believes you have, prioritise users tests and feedbacks. Build your product step by step and always test it along the way
- You may try hard to build and sustain your own product while you could partner with the leading solution and be strategic to them.
- Clear your mind with daily exercise to stay focused on your project!
Public fundings
Thank you, Jean-Baptiste Pimenta de Miranda, Hacene Taibi, François Chabaudie for sharing their experience with applying to the different public fundings in Hong Kong!
CCMF encourages innovation, creativity, and commitment to grow.
The program sponsors high-potential digital tech projects and early-stage start-ups with financial assistance and a comprehensive nurturing system to facilitate development in a pre-incubation stage.
In general, CCMF accepts individual and company applications. Individual applicants must be HKID cardholders, company applicant is a limited company registered and incorporated in Hong Kong.
Details are stated on corresponding sub-program pages.
Cyberport Incubation Programme supports entrepreneurs and start-ups with resources that aim to accelerate their growth.
In addition to a range of business and professional services, incubatees get up to HK$500,000 support over 24 months. Incubatees can participate in the programme on-site at Cyberport, or off-site at their own premises.
On top of Cyberport Incubation programme, Cyberport provides a comprehensive platform to foster success for digital tech entrepreneurs.
Launched in November 2016, TVP aims to support local enterprises/organisations in using technological services and solutions to improve productivity or upgrade or transform their business processes.
The TVP funding provides funding for projects on a 3 (Government):1 (enterprise/organisation) matching basis.
The Cumulative funding ceiling per enterprise/organisation: HK$600,000.
Up to 6 projects per enterprise/organisation.
Launched in 1998, PAG aims to encourage local companies and inventors to capitalise on their intellectual work through patent registration.
Maximum funding support: HK$250,000 or 90% of the sum of the total direct costs of patent application (including the cost for patent search-cum-technical assessment), whichever is the lower.
Individual applicant/company applicant to bear the remaining balance required for the patent application(s).
Approval non-transferable and valid for 3 years from the date of approval of the application.
HKSTP offers different incubation programmes:
HKSTP INCUBATION, a three-year programme aimed at helping technology startups specialising in deep tech research to develop innovative solutions.
Work in our furnished office spaces, access world-class R&D equipment and lab services across our campus. Find mentors, strategic partners and investors and receive professional guidance from your designated account manager. Satisfy your R&D and business development needs with financial aid up to HK$1.29 million.
INCU-BIO, a four-year programme managed by the Biomedical Technology Cluster, Incu-Bio supports the development of biomedical tech startups in Hong Kong. Connect with stakeholders in investment and regulatory support to devise the perfect business plan. Access cutting-edge equipment, co-working space and lab services. Cover R&D costs with financial support up to HK$6,000,000.
To help Hong Kong enterprises capture the opportunities arising from the National 12th Five-Year Plan, the Hong Kong Special Administrative Region Government set up a “Dedicated Fund on Branding, Upgrading and Domestics Sales” (“the BUD Fund“) in June 2012 to assist enterprises in exploring and developing the Mainland market through developing brands, upgrading and restructuring their operations and promoting domestic sales in the Mainland.
The Government extended the geographical coverage of the BUD Fund in August 2018 to also include the Association of Southeast Asian Nation (“ASEAN”) markets. A further expansion of the geographical coverage was implemented in January 2020 to cover other economies with which Hong Kong had signed Free Trade Agreements (“FTAs”) to assist enterprises in taking the economic opportunities.
To support enterprises in exploring more diversified markets, the Government launched a new round of enhancement measures by phases starting from July 2021, including extending the geographical coverage of the Fund to include all economies with which Hong Kong has signed Investment Promotion and Protection Agreements (“IPPAs“) and increasing the cumulative funding ceiling per enterprise to $6 million.
Tips from our entrepreneurs:
- It takes traction to get into an incubation program, not the opposite. Few programs allow you to enter with a prototype, you need to show something.
- Prepare your pitch deck very carefully, and rehearse, a lot! You’re a performer and need to take the audience with you!
- Read the details of the contract and deadlines, it could cost you money!
- Cyberport vs. HKSTP? Cyberport is known as being more software oriented while HKSTP is more hardware oriented