The Hong Kong Science and Technology Parks Corporation (HKSTP) achieved a milestone by concluding the first-ever Silicon Valley Elevator Pitch Competition 2024 (EPiC) Region Semi-Final on January 17 and 18. Out of 127 local applicants, 20 innovators from Silicon Valley were selected to fly to Hong Kong on April 26, 2024, for the EPiC 2024 Grand Finale.
A total of 72 startups worldwide will be chosen by judges from regional semi-finals in Silicon Valley, Stuttgart, Singapore, and Hong Kong. They will compete for a chance to secure US$5 million in venture funding, US$240,000 in cash prizes, and partnership opportunities. The EPiC 2024 Grand Finale, occurring for the 8th time in Hong Kong, is expected to showcase 80% international finalists and 20% local Hong Kong finalists, making it a truly global competition.
Amidst the backdrop of US startups eyeing growth opportunities in the Asia Pacific, which is projected to experience 4.2% growth in 2024 compared to 2.9% globally, the HK-Shenzhen-Guangzhou science and technology cluster in China holds the second rank globally for total global patents filed, as per the latest Global Innovation Index 2023.
Operating Hong Kong’s largest innovation ecosystem, HKSTP hosted the two-day regional semi-final pitching contest at the Silicon Valley Plug and Play Tech Center in Sunnyvale, California. Day 1 featured FinTech and PropTech innovations, while Day 2 focused on Mobility Tech innovations. Industry leaders shared insights into emerging market opportunities in these technology sectors across Asia, blending the seriousness of startup pitching with lively social activities.
Eric Or, Head of Partnerships at HKSTP, emphasized the importance of global innovation, stating that the Silicon Valley Region Semi-Final provides an opportunity for innovators to connect with investors and partners in Asia. For HKSTP, it’s a chance to bridge the Hong Kong and Silicon Valley innovation ecosystems for new growth opportunities.
Contestants in the semi-final had eight minutes to pitch their presentation, followed by a two-minute Q&A session. They were evaluated based on uniqueness and innovation, market size and growth potential, and strategic planning to achieve business goals.
The remaining EPiC 2024 regional semi-finals are scheduled in Singapore (22-23 February), Hong Kong (29 February), and Stuttgart (5 March). The selected 72 finalists will gather for the Grand Finale on April 26 in Hong Kong, making their live 60-second pitch while riding up the elevator at the iconic Sky100 venue atop Hong Kong’s tallest building, the International Commerce Centre.
All EPiC applicants must be startups established for less than 10 years as of April 30, 2023. EPiC 2024 finalists have the opportunity for up to US$5 million investment from the HKSTP Corporate Venture Fund. Confirmed sponsors include Hong Kong’s MTR, a world-renowned mass transit transport leader, and more industry pioneers supporting the elevation of local innovation to the global stage.