Cyberport Incubation Programme - How Hong Kong Tech Startups Get Funds? Funding Scheme for Companies

Cyberport Incubation Programme - A funding scheme for company operating in Hong Kong (HK):



Section 1: The Funding Scheme

01 What is Cyberport Incubation Programme?

It is a funding scheme to support startups & entrepreneurs
in Hong Kong.

02 The fund is for accelerating business growth
of Hong Kong (HK) startups.

03 What does Cyberport Incubation Programme offer?

A Hong Kong startup may get up to HK$500K over a 24-month period.

04 Companies who have come through Cyberport Incubation:

GOGOVAN, Klook, Shopline, Snapask, Air Button, NexChange

05 How to get funds from Cyberport Incubation Programme?

The entrepreneur/startup must submit a business plan.

06 The business plan must be digital/tech related.

Example: Development of a digital/tech solution for a product/service.

Section 2: The Requirements

07 Who is eligible to be funded?

The applicant must first have/register a limited company in HK.

08 Your project must be digital/tech related.

09 Your solution development is to be executed & completed in 12-18 months.

10 Your startup must have been operating for at least 1 year (before being admitted as an incubatee).

Section 3: Vetting Process

11 Evaluation...

A vetting team consists of venture capitalists, academics, industry veterans, and trade association members will evaluate the applications.

12 The vetting team conducts initial screening & identifies which applications have fulfilled the requirements.

13 The vetting team evaluates the applications.

14 The vetting team confirms the admitted incubatees.

15 Shortlisted applicants are to present their application/project & answer questions.

Section 4: Successful Applications

16 Successful application...

Usually, the 1st HK$100K is granted immediately.

17 The next HK$200K will be granted after a progress review in 6 months.

The last HK$200K will be granted based on a 2-tier assessment.

Section 5: Other Benefits

18 Other benefits:

What about office space?

19 Companies can work on-site,

or off-site (e.g. from home).

20 On-site startups can work at a rent-free office/co-working space provided by Cyberport.

21 Some startups can start with working off-site.

Can switch to on-site when a free co-working space becomes available.

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