HKMU Incubation Programme - Application Guidelines and Form - HKMURDC

HKMU Incubation Programme
Application Guidelines and Form

(English version only 只備英文版本)

1. About the HKMU Incubation Programme

The HKMU Incubation Programme is designed to support innovative early-stage HKMU startups dedicated to incubating practical solutions for real-world challenges. Each selected startup receives a HK$250,000 grant to enhance growth and bring impactful ideas to market.

2. Target Companies

Preference is given to companies demonstrating a strong commitment from their founding teams, offering well-defined products or services that have gained initial market traction, and with a clear vision for business development. Companies that utilize HKMU's intellectual property or align with its strategic goals will be advantageous.

3. Mandatory Admission Criteria

The Applicant must be a limited liability company incorporated under the HKSAR Companies Ordinance for less than five years as of the date of application.
The management team of the applicant must consist of a Person-in-Charge (PIC) who is associated with the HKMU in the following capacity at the time of application:
- Full-time or part-time HKMU students who have already obtained at least 15 credits for their study programmes as of the date of application; or
- HKMU academic or R&D staff; or
- HKMU alumna/alumnus who has graduated for normally not more than ten years. Alumna/alumnus who has graduated for more than ten years with solid business or entrepreneurship experience may also be considered.
The PIC shall represent the applicant in liaising with HKMURDC for the entirety of the programme period.
The PIC must be a founder of the applicant, and holds not less than 20% of the total issued share capital of the applicant.

4. Funding Arrangements

Each selected startup company receives a HK$250,000 grant, which is distributed in three instalments over a one-year period subject to meeting specific performance milestones:

Month 2: HK$80,000;
Month 6: HK$50,000;
Month 12: HK$120,000.

Each selected startup is paired with a programme manager responsible for establishing milestone targets, monitoring progress, and offering necessary business support.

In cases where a startup fails to meet one or more milestones, extension(s) may be granted to allow the startup to catch up and achieve the targets. However, the corresponding grant will be held until the milestones are successfully met. The maximum cumulative extension period allowed is 12 months. Non-performing startups may be terminated before the programme ends, and any outstanding grants will be forfeited.

The startup company is expected to allocate the grant towards:

operational costs such as staffing, training, rental, management fees, legal services, accounting services, and other daily office expenses;
expenditures directly related to the development, implementation, marketing, and commercialisation of the proposed products and / or services; and
essential office equipment.

The grant must not be used to settle any of the startup company debts. The startup company is required to submit periodic progress reports to HKMURDC for evaluation.

HKMURDC reserves the right to send representatives as independent advisors / observers to the board of directors of the startup company.

Throughout the funding period, the PIC shall undertake to remain in the core management, operation and development team of the selected startup company, and shall maintain a significant ownership stake in the startup company.

5. Application Procedures

Applicants should submit a completed online application form together with the following supporting documents:

A 5-min pitching video (Click HERE for the video pitching guidelines);
A pitch deck in English including, but not limited to, an executive summary, brief of the business, industry analysis, market analysis, marketing strategy, brief of the products and / or services, organisational structure, operational plan, contribution to the society, financial forecast, and key milestones (Click HERE for the pitch deck template);
CVs of PIC and team member(s) (Click HERE for the CV template);
Certificate of Incorporation (CI);
Hong Kong Business Registration Certificate (BR);
Company’s Articles of Association (AoA);
Company's latest Incorporation Form (Company Limited by Shares) (NNC1);
A copy of student card (for current student) or graduation certificate (for alumni) of PIC for proof of association with HKMU;
A copy of latest academic transcript (for current student who will serve as the PIC);
Company's latest audited financial statements (if any);
Latest annual return submitted to the Companies Registry (if any); and
A list of funding support from the government and / or other third-party investors, collaborating organisation(s) and the project title(s), award(s) and recognition(s), or any other substantial achievement(s) (if any). Supporting documents may be required if the startup company is selected.

6. Evaluation and Selection Procedures

Eligibility Screening

All applications will undergo an eligibility screening and shortlisting process based on the submitted materials.

Selection Panel

Shortlisted applicants will be invited to an interview with a selection panel, where they will present their project and respond to any questions. The panel, comprising representatives from HKMU and seasoned professionals from diverse industries, will evaluate the teams based on their presentation together with any supporting materials before reaching final decisions.

Interview Process

The Selection Panel will evaluate the proposals using the following criteria:

Innovation and Uniqueness;
Problem-Solution Fit;
Commercialization Opportunity;
Business Model and Financial Viability;
Commitment of the team;
Use of Funds and Milestones.

7. Performance Monitoring and Programme Supports

Reports and Meetings

Each selected startup company is required to provide HKMURDC with a progress report and management accounts (if available), at the end of Month 2, Month 6, and Month 12 as per the agreed milestones established with their respective programme managers. Additionally, startups should provide their latest audited accounts when available.

In case of failing to meet milestone targets, startups are required to provide a “catch-up plan” for approval by their respective programme managers. An updated progress report is expected upon achieving these milestones.

Attendance at regular meetings with programme managers is mandatory for performance evaluation and progress review, during which the programme manager can also provide support in enhancing business strategies, market development, and execution plans based on the company's specific needs.

Training Programme

Each selected startup is required to send representatives to participate in a comprehensive training programme designed to enhance their business acumen and operational capabilities. Topics covered includes but not limited to, market research, intellectual property protection, business model development, legal compliance, and financial management.

Note that attendance below 80% of training programme may impact the funding release schedule.

Participation in Events

Selected startups are expected to engage actively in events organised by HKMURDC to nurture HKMU’s entrepreneurship ecosystem. These events comprise startup promotion activities, internal and external exhibitions, and community experience-sharing sessions. Additionally, startups are encouraged to provide internship opportunities for HKMU students and explore potential collaborations on HKMU research projects whenever feasible.

8. Right of HKMURDC

HKMURDC reserves the right to make the final decision regarding funding and supports of the Incubation Programme. Additionally, HKMURDC retains the right to exercise or otherwise, the options stipulated in the bilateral agreements with the selected startups.

9. Tentative Schedule

	June 2025
Application Deadline	20 June 2025 (Friday) 12:00 Noon
Pitching / Interview	16 and 17 July 2025
Result Announcement	August 2025

10. Enquiry

Should you have any enquiries regarding the HKMU Startup Fund, please contact us by phone at 2768-6744 or by email at startupfund@hkmu.edu.hk.

HKMU Incubation Programme - Application Guidelines and Form