Submission Guidelines

HKUST-Sino One Million Dollar Entrepreneurship Competition 2022

 

The suggested contents outlined below are only for reference. The final contents of your submission are fully determined by your teams’ discretion and needs.

Product Introduction Video Guidelines (1 minute)

The video should briefly introduce and focus on the innovativeness of the proposed product, service or business model. It should introduce your business and your product, and to highlight the strengths of your plan. Below are some suggested contents for reference -

  • Identify the problem – how significance / relevant is the problem
  • Innovation of the solution – summarize the problem or opportunity and address how the company's product or services will address the need
  • Brief business outlines such as business names, and a description of the product or service the company intends to provide
  • Description of the products
  • Appeal to others – how to engage and captivate attentions, so that people would like to know more about the project
  • Competitive advantage by explaining how the product differs from other offerings

There will be an online product introduction video Q&A activity arranged for the HKUST community. A number of random questions will be generated based on the information below, and participants will have a chance winning a prize after correctly answer a target number of questions. Therefore, please include the following information in your video:

  • Focus Area(s) of the Business Plan
  • How many % of HKUST full-time students in your Team?
  • Where is the technology / innovation that you are proposing in your business plan originated from?
  • How did your team get the right to use the technology?
  • Do you need to recruit more team members?

 

1-page Executive Summary Guidelines

The 1-page teaser is a summary of the entire business plan which should further explain the information in the video and provide proof on feasibility, viability and commercial potential of the proposed product, such as user test result and findings from scientific research. The focus should be on the innovativeness of the proposed product, service or business model. It should introduce your business and your product, and to highlight the strengths of your plan. Below are some suggested contents for reference -

  • Mission Statement - it explains what your business is all about, what problem you are trying to solve and how your plan to solve this problem differently and more effectively. It should not be too long, between several sentences and a paragraph.
  • Viability – Briefly summarize the team that it is in place with the skills they have to make it happens.
  • Company Information - a short statement covers when your business formed, the names of the founders and their roles, your number of employees. This is a good place to show your team’s credibility in realizing the proposed product/solution.
  • Your Products / Services - briefly describe the products or services you provide, with features or characteristics of the innovation. You should also describe and provide proof on the feasibility and viability of the innovation you are proposing. We will not accept any technology or innovation that are violating law of physics or assuming the business is based on a technology only can be realized by imagination.
  • Potential Market - explains why there is a need in your target market and how your particular solutions can fill it and address your future plans on commercialization. If the business is based on business model innovation, briefly describe how this model is different and/or more efficient than other models.

 

Short Business Plan (3-5 ppt slides) and Exhibition Poster * Guidelines 

The Short Business Plan and Exhibition Poster * should explain the market strategy and impact (both socially and financially) with market analysis of the product/services you are providing. Below are some suggested contents for reference -

  • Brief business outlines such as business names, and a description of the product or service the company intends to provide.
  • Summarize the problem or opportunity and address how the company's product or services will address a need.
  • Description of the products.
  • Value proposition – product-market Fit and competitive advantage.
  • Customer segments – target market: Specify the target market of the company’s product or services. Who is the first adopter and second adopter of your product/service?
  • Market analysis: What is the market size?
  • The unique value the company brings to the market. Competitive advantage by explaining how the product differs from other offerings.

* Remark:
In view of the latest COVID-19 pandemic status, the Exhibition is postponed until further notice. Hence, the submission of the Exhibition Poster is not required.

Full Business Plan Guidelines

The full business plan should explain the practicability of the plan execution and fundability potential together with the scaling plan. Below are some suggested contents for reference –

  • Brief business outlines such as business names, and a description of the product or service the company intends to provide.
  • Traction: what has been done and achieved since inception with what resources available.
  • Product development plan: critical milestone and project timeline on prototype development, product launch, scientific research and findings.
  • General pricing plan for the products or services.
  • Target markets.
  • Marketing strategies to attract customer base, distribution plan, sales channel.
  • Main competition to the company.
  • Startup budget: budget plan and projected cash flow.
  • Exit Strategy.
  • Team formation and credibility.