Maximum HK$1 million

grant matching dollar-for-dollar with

the Authorised Collaborating Investor

Authorised Collaborating Investor is an investor/ investment firm/ investment fund under a collaborative arrangement with PolyU to co-finance the Funded Start-up under the TLF Scheme. For the Government FY 2018-19, an investor with one of the following status is preliminarily regarded an Authorised Collaborating Investor subject to confirmation of the TLF Investment Panel:

• a partner of Open Partner Ventures (OPV)
• a member of Hong Kong Business Angel Network (HKBAN)
• a partner of Hong Kong Science Park Venture Capital Partnership Programme
•  a Charter Member of The Indus Entrepreneurs Hong Kong (TiE HK)

1. A company with at least one PolyU member as the Person-in-charge (PIC)* in any mix of the following:

• Undergraduates/ graduates/ postgraduates**
• Professoriate[1] staff# to serve as consultant(s), providing technical expertise and direction of the R&D work
• Alumni

**Current research postgraduate student should check with Research Office (3400 3635) if any approval is necessary prior to application.

[1] “Professoriate staff” refers to academic staff that bears the title of "professor", e.g. professors, associate professors, assistant professors, visiting professors, etc.

#Any current staff member of PolyU who wishes to take equity/management role in the applying or proposed company should seek the University’s approval, subject to pertinent policies and regulations governing knowledge transfer and outside activities.

2. One PolyU member must be appointed as the PIC. The PIC is required to take a key management position[2] in the applying company and can be reached by PolyU during normal business hours, to be responsible for:

(a) overseeing the operations of the company; and

(b) liaising with PolyU on matters relating to the funding support under the TLF Scheme.

[2] In the sole opinion of PolyU, key management position under the TLF Scheme usually should be evidenced by:

(a) 20% or more ownership, in the form of equity shares or share options, of the applying company; and

(b) working on a full-time basis in the applying company.

3. The company must be incorporated in HKSAR under the Companies Ordinance within 24 months upon 1 February 2018.

4. The company must be technology-oriented with R&D elements.

5. The company has graduated from, or is currently in, one of the qualified pre-incubation / incubation programme[3] OR The R&D Work related to the application was previously supported by the Innovation and Technology Support Programme (ITSP) or Midstream Research Programme for Universities (MRP) administered by the Innovation and Technology Commission.

[3] Qualified programmes include but not limited to PolyU Micro Fund (MF) Scheme, Cyberport Creative Micro Fund (CCMF) Scheme, Youth Business Hong Kong (YBHK), HKSTP-PolyU Tech Incubation Fund (TIF) Scheme, STEFG-PolyU China Entrepreneurship Fund (CEF) Scheme and incubation programmes provided by HKSTP and Cyberport, etc. Generally speaking, pre-incubation/ incubation/ acceleration programmes offered by universities, public institutions, reputable NGOs or private companies are acceptable.

The applicants should submit:

1. Completed application form [download HERE]
2. A 15-slide Investment Pitch Deck

with supporting documents including:

1. CVs of all team members
2. Proof document(s) of relationship between PIC and PolyU
3. Hong Kong Business Registration Certificate
4. Latest Annual Return/ Incorporation Form
5. Supporting documentation illustrating the applicant has graduated from or is currently in one of the qualified pre-incubation/ incubation programmes OR
6. Supporting documentation illustrating that the R&D Work related to the Application was supported by the Innovation and Technology Support Programme (ITSP) or Midstream Research Programme for Universities (MRP) administered by the Innovation and Technology Commission
7. Certificate(s) of filing/ grant of patent(s) (if applicable)
8. Agreement between the applicant and the R&D collaborating organisation(s) on the sharing of the royalties or intellectual property rights or any other sorts of income to be generated from the Applicant (if any)
9. Certificate of Incorporation

through email to: launchpad.fund@polyu.edu.hk on or before the application deadline. (Email attachment should be no more than 10 MB)

Qualitative Assessment Criteria:

•  Business Model, Commercial Feasibility and Potential
• Technology Content
• Team Capability
• Social/ Community Impact
• Current Operational/ Financial Status

Note: Priorities will be given to applications using PolyU patents / technologies / intellectual properties.

Assessment Process:

• Application Submission

• Initial Screening of Eligibility (including Technology Content Assessment)

• Investment Meet-up Gathering with Interested Investor

• Investment Negotiations

• Submission of Signed Investment Term Sheet and Business Plan

• Due Diligence Exercise

• Investment Panel Meeting: Pitching to the TLF Investment Panel by PolyU

• Announcement of Preliminarily Recommended Applicants

• Submission of Signed Investment Agreement (The signing date of the investment agreement should be between the Application Deadline and the Funding Confirmation Deadline)

• Recommended Applications to be Examined and Approved by ITC

• Announcement of Funded Start-ups

Subject to funding availability under the TLF Scheme for the Government financial year, PolyU will match a dollar for every dollar raised from the Authorised Collaborating Investor(s) by an Approved Start-up. The grant will be subject to a maximum of HK$1million and a minimum of HK$500,000 (inclusive of follow-on grants for all time).

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E-mail address: launchpad.fund@polyu.edu.hk