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Leveraging Universities’ Analysis Energy to Launch Breakthrough Ignite City Know-how – A Launch In direction of Sustainable Innovation
HONG KONG SAR – Media OutReach – 12 October 2023 – Making a sustainable future has turn into an unstoppable international development. As a passionate advocate for empowering UrbanTech to contribute options, ParticleX hopes to leverage enterprise capital funding and cutting-edge applied sciences to handle city challenges. It has initiated the twond ParticleX UrbanTech International Problem (PUGC) to attach start-ups, corporates, angel buyers and incubators from around the globe. ParticleX kicked off the PUGC launch ceremony this afternoon, with the theme “Igniting City Innovation – A Launch In direction of Sustainable Options”. With a powerful give attention to sustainability, PUGC is devoted to fostering collaborations and driving innovation, thereby making a vibrant UrbanTech ecosystem.
The Covid-19 pandemic created challenges for international start-ups participating Hong Kong enterprises as a consequence of journey restrictions inhibited outreach. Collaboration between international corporations and home start-ups additionally confronted obstacles. To deal with this, ParticleX launched the ParticleX PropTech International Problem (PPGC) in 2020 connecting property builders, building corporations, property administration and different industrial customers regionally and globally with startups by way of a digital platform. This facilitated matching between corporates and appropriate start-up merchandise or options, whereas offering international start-ups with entry to native company customers and buyers.
The Problem returns, unlocking each monetary and societal returns of start-ups
Seeing PPGC’s success in supporting numerous customers, ParticleX expanded its scope in 2022 with the inaugural PUGC. The PUGC is making an enormous comeback this yr, bringing collectively roughly 30 accomplice organizations and included participation from all Hong Kong college innovation departments for the primary time, signaling goals to extra holistically foster commercialization of educational analysis.
ParticleX capabilities past typical notions of enterprise capital. It aspires to function the activation engine that advances concepts in the direction of implementation, and because the catalyst driving city progress. Mr. Mingles Tsoi, Chief eXploration Officer of ParticleX, acknowledged that, “Our funding philosophy appears past merely monetary returns. We imagine that every distinctive innovation born out of a startup initiative possesses each funding worth in addition to social worth and influence. Due to this fact, the 2023 PUGC encompasses six core UrbanTech classes aimed toward shaping the sustainable and resilient cities worldwide.”
Relating to college collaboration this yr, Mr. Tsoi added that, “ParticleX locations particular emphasis on high improvements rising from tutorial establishments. Whereas college R&D groups undoubtedly possess a wealth of promising applied sciences and ideas, they could lack the expertise and sources wanted to efficiently commercialize concepts. Due to this fact, this version of PUGC specifically invited each innovation division throughout Hong Kong universities to take part. The purpose is to facilitate extra connections between academia and trade by way of offering testing grounds. By acquiring person suggestions and real-world expertise when making use of their options, spin-offs from universities can refine concepts and transfer them nearer to implementation. We’re delighted to see the Hong Kong Authorities’s implementation of the Analysis, Educational and Business Sectors One-plus Scheme (RAISe+ Scheme) by way of generously funding universities’ R&D tasks and incentivizing matching funding from institutional buyers, we imagine the RAISe+ Scheme will enhance the momentum of the know-how group, igniting the trail in the direction of continued innovation.”
Collaboration is the important thing to fostering a vibrant UrbanTech ecosystem
The 2023 PUGC kick-off ceremony was honored to host notable visitors together with Hon. Mr. Duncan Chiu, the Legislative Council member representing Know-how and Innovation Constituency. Additionally in attendance was Mr. Aldous Mak, Chief Monetary Officer of Hong Kong Science and Know-how Parks Company, Ms. Jayne Chan, Head of StartmeupHK at InvestHK in addition to companions and start-up founders from numerous sectors. The honorable visitors conveyed their assist for the event of UrbanTech start-ups and their contributions. A panel dialogue was additionally held round “UrbanTech developments and challenges”.
Hon. Mr. Duncan Chiu acknowledged, “ParticleX has persistently centered on early-stage investing, supporting many native start-ups, in addition to university-originated entrepreneurs spin-offs from universities to enter numerous markets, together with Mainland China. Such sort of skilled investor is essential for Hong Kong’s I&T ecosystem to flourish, as they supply capital together with trade connections and enterprise recommendation that gasoline the expansion of start-ups. The PUCG’s emphasis on the commercialization of UrbanTech injects recent impetus to Hong Kong’s good metropolis improvement. I want the Problem each success, and hope it can help extra corporations in scaling as much as the subsequent technology of unicorns.”
Mr. Aldous Mak stated, “We’re excited to assist ParticleX at this occasion, to find extra modern UrbanTech options and speed up know-how adoptions, in addition to to construct Hong Kong as a sustainable good metropolis by way of this Problem. HKSTP is dedicated to offering a variety of incubation programmes to startups at completely different phases, from world-class infrastructure, enterprise improvement assist to funding. We look ahead to welcoming extra startups and abilities from the brand new technology to collectively strengthen Hong Kong’s innovation and know-how ecosystem.”
Ms. Jayne Chan talked about, “Relating to corporations combatting local weather change and making a extra sustainable world, know-how is a gamechanger. It could possibly assist corporations scale back emissions by bettering effectivity, switching to cleaner alternate options, and recycling supplies. Hong Kong is a good location for startups within the sustainability house, with supportive authorities insurance policies, funding alternatives, a deep expertise and prepared entry to rising markets.”
This yr the PUGC targets on six core UrbanTech classes, these embrace 1) Actual Property & Constructed Setting, 2) Infrastructure, Power & Utility, 3) Transportation & Mobility, 4) Meals Provide, Public Well being & Security, 5) Round Financial system, Cleansing & Waste Administration, 6) Life-style, Tradition & Training.
PUGC functions are open till January 5, 2024. ParticleX will conduct preliminary screening by end-January to shortlist start-ups. Shortlisted start-ups will conduct pitching to the PUGC Funding Committee in March 2024. Profitable finalists could win an opportunity to achieve USD$200,000 minimal funding every. They will even get alternatives to accomplice with sizeable corporates in Hong Kong to check product or resolution feasibility. This enables UrbanTech ventures to collect person suggestions and real-world knowledge to refine choices in an environment friendly and cost-effective method. The last word purpose is to speed up product adoption, enterprise progress and social influence.
Apply and discover out extra about PUGC right here: https://particlex.com/pugc/
Excessive Decision photograph HERE
Hashtag: #ParticleX
The issuer is solely chargeable for the content material of this announcement.
About ParticleX
ParticleX (
https://particlex.com) is a enterprise capital firm that invests in early-stage know-how start-ups, specializing in corporations with sturdy enterprise fashions and huge Whole Addressable Markets (TAM). Providing a set of complete providers ParticleX gives funding, know-how breakthroughs, strategic reinvention, and enterprise matchmaking to assist start-ups on their path to success.
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