This initiative, which spans seven competitive zones throughout Hong Kong and various Mainland cities, seeks to tackle pressing industry issues through inventive approaches.
PolyU has for the first time expanded its Future Challenges to encompass a worldwide participant base. Global entrants are encouraged to join provided they collaborate with PolyU affiliates, use technologies patented by PolyU, or integrate with the incubation platforms established by PolyU Mainland Translational Research Institutes (MTRIs).
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The IFC operates on a “1+N” model, positioning Hong Kong as the central hub for the competition while simultaneously incorporating additional locales across six Mainland cities: Huizhou, Wenzhou, Qianhai in Shenzhen, Shanghai, Nanjing, and Jinjiang.
Each competition zone is curated to reflect the specific industrial demands and strategic focuses pertinent to local markets as well as PolyU’s MTRIs. The thematic concentration varies across each competitive region.
The specific domains for each region are as follows:
- Hong Kong: Fintech/Insurtech, ICT, Cargo/Travel, Sports/Health
- Huizhou: Spatial Computing/Imaging, Manufacturing, New Energy/Materials, Fashion/Textiles, with AI integration on any of these
- Wenzhou: Advanced Manufacturing, New Energy, Marine Engineering, Soft/Flexible Electronics, with AI integration
- Qianhai: Metaverse, AR/VR, Intelligent Wearables, Health, with AI integration
- Shanghai: Blockchain, AI with Medical Applications, Low Altitude Economy, Digital Transformation, with AI implementation
- Nanjing: Healthcare/Medical Devices/Biotech/Rehabilitation Tech/IoT
- Jinjiang: Textile/Fashion Tech/Future Food/Microelectronics/Tourism Management/Healthcare, with AI integration.
Collaborating closely with prominent domestic firms and leveraging the support of PolyU’s MTRIs, the IFC is said to offer contestants a wealth of resources and prospects.
These include expeditions to Mainland China for consultations and corporate engagements tailored for those making it to advanced stages of the competition.
Teams that distinguish themselves will gain the chance to pursue international ventures aimed at broadening their global perspective.
Recently, an informative session was conducted for the Hong Kong Region, where industry professionals convened to deliberate on the latest trends and obstacles in various sectors.
The IFC includes an Open Track for all regions while providing a dedicated Student Track in Hong Kong and Jinjiang to cultivate student entrepreneurs. Students will partake in extensive training and exploratory tours across various regions and countries such as Singapore, Vietnam, Xinjiang, and the Greater Bay Area to expand their entrepreneurial vision.
With a combined prize pool exceeding HK$2m ($0.26m) across seven regions, regional winners will vie for a grand prize of up to HK$500,000 during the finals. Additionally, winners will receive trial funding, adoption support, and comprehensive entrepreneurial assistance via the PolyVentures startup network.
PolyU research and innovation vice president professor Christopher CHAO said: “As PolyU’s flagship innovation and entrepreneurship competition, the IFC is committed to empowering and inspiring the next generation of innovators. It integrates education, translation of research outcomes, incubation and investment for start-ups, creating a holistic platform for budding entrepreneurs.”
