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By Khadija Azhar
November 6, 2019
Cyberport, Hong Kong
The Intellectual Property Innovation and Entrepreneurship Contest (IPIEC) brought Cyberport’s flagship Venture Capital Forum to a close in November, with its Hong Kong chapter featuring ten promising startups shortlisted from 94 applicants.
Organized by the China Centre for Promotion of SME Development, the Office of the Government Chief Information Officer, and co-organized by WTOIP, Cyberport and the Angel Investment Foundation, the event was held as a regional qualifier for the IPIEC Global contest, which facilitates collaborative innovation across industries and supports promising entrepreneurs looking for investment.
The participants, including Cyberport’s incubatees VAR Live, Artro Digital Ltd., and Wildfaces.ai, battled for a chance to compete at the IPIEC Global semi-final in Guangzhou, where finalists will be selected from the 28 regional winners to vie for the US$100,000 cash prize.
Participants at the Hong Kong chapter were required to answer a round of questions at the end of their six-minute pitch, with the adjudicating panel comprising 12 judges. Using potential market growth, IP protection measures, team background, and business model feasibility as judging criteria, the jury chose Light Innovation Technology Ltd. as the winner and their light-sheet microscope.
Antro Digital Ltd. was named the first runner-up for its suspended 3D imaging technology, and Cellomics International Ltd. was named second runner-up for its liquid biopsy technology. The seven remaining teams were given merit awards for their participation.
The winner and first runner-up will head to China in December for the semi-final. Keeping the contest’s aims in mind, the event’s organizing committee has also collected intentional investment of around HK$80 million from chambers of commerce to maximize collaboration opportunities between corporates and the participating teams.
Co-founder of Artro Digital Ltd., Wiva Wei cited “valuable feedback from the audience and judges” as a crucial benefit of events like the IPIEC, explaining that they help entrepreneurs see “whether we’re daydreaming or actually adding value to society.”