Alibaba Hong Kong Entrepreneurs Fund’s JUMPSTARTER launches
global pitch competition
- Global competition with pitch events in Hong Kong, Shenzhen, Shanghai, Beijing, Kuala Lumpur, London, San Francisco and Toronto during August to November 2019
- Hong Kong Grand Finale in February 2020
- Up to US$5 million investment commitment and US$100,000 in cash to the top five JUMPSTARTER startups in total
- Competition will connect global talents with Hong Kong – one of the world’s leading startup hubs
Hong Kong, June 27, 2019 – Alibaba Hong Kong Entrepreneurs Fund, a non-profit initiative launched by Alibaba Group Holding Ltd., today kicked off the application process for JUMPSTARTER, its signature startup event in Hong Kong. This year JUMPSTARTER is, for the first time, hosting a global pitch competition, with pitching events in Hong Kong, Shenzhen, Shanghai, Beijing, Kuala Lumpur, London, San Francisco and Toronto. The aim is to connect global talents, startups and entrepreneurs with JUMPSTARTER’s highly competitive Hong Kong Grand Finale to take place within StartmeupHK Festival on February 11-12, 2020.
The campaign will provide up to a combined US$5 million investment commitment and US$100,000 in cash to the top five JUMPSTARTER startups.
In partnership with InvestHK, Hong Kong Exchanges and Clearing Ltd (HKEX), Cyberport and Hong Kong Science and Technology Parks Corporation (HKSTP), JUMPSTARTER will not only provide capital to winning startups, but also offer networking opportunities with top investors, corporates and other startups. As a part of InvestHK’s StartmeupHK Festival, JUMPSTARTER provides a platform that brings startups, entrepreneurs, corporates and investors to build, empower and boost connections among different ecosystems and international tech hubs. Top JUMPSTARTER companies will also get access to the Alibaba ecosystem to help them gain valuable insight, experience and resources to expand their businesses. (See appendix for quotes from the Global co-organizer and the co-organizers)
The third JUMPSTARTER is taking the event to a new level with the introduction of eight pitching events in Hong Kong and seven international cities from August to November 2019. Each event is expected to host over 100 startups, and 40 finalists from these global locations will be given the opportunity to participate in the JUMPSTARTER Grand Finale in Hong Kong in February 2020. These events will attract rising stars interested in the Hong Kong and Asia markets and further enhance Hong Kong’s position as a startup hub for the region.
One of the highlights of JUMPSTARTER is a startup competition featuring young companies from four sectors – retail, fintech, smart city and advanced technology – viewed as key for Hong Kong’s long-term economic development. In particular, JUMPSTARTER provides more exposures for Fintech startups. For Fintech startups that apply for the JUMPSTARTER competition, they will also automatically be entered into FintechHK Global Competition, in November 2019 during Hong Kong Fintech Week, organized by InvestHK. (See appendix for the application requirement & timeline)
“Our immensely successful second JUMPSTARTER early this year attracted 10,000 attendees with over 600
business proposals. By substantially expanding the scale of the competition with startups pitching events across the Asia Pacific, Canada, Europe and the U.S., we are truly putting JUMPSTARTER on the global stage, welcoming incredible young entrepreneurs from around the world and connecting them with amazing opportunities,” said Cindy Chow, Executive Director of Alibaba Hong Kong Entrepreneurs Fund
“We look forward to empowering startups, no matter their home base, and are excited to embark on new journeys together leveraging the unique Hong Kong advantage. Through our third JUMPSTARTER, we join hands with InvestHK, HKEX, Cyberport and HKSTP, who share a common belief that Hong Kong is a regional powerhouse for startups. We hope to continue to foster an environment in the city that embraces entrepreneurial spirit and are ready to unleash the potential of innovations and entrepreneurship around the globe,” added Chow.
JUMPSTARTER is open for applications from today. Interested parties can visit www.jumpstarter.hk
for more information.
Appendix - Quotes from Global Co-organizer and Co-organizers of JUMPSTARTER 2020
Stephen Phillips, Director-General of InvestHK
said: “The two flagship events spearheaded by InvestHK - Hong Kong Fintech Week and StartmeupHK Festival - are a perfect tie-in with JUMPSTARTER. We look forward to collaborating closely with Alibaba Entrepreneurs Fund in the coming months. The final pitch of the FintechHK Global Competition will take place on November 6, 2019 at Hong Kong Fintech Week, and the Grand Finale of the JUMPSTARTER Global Pitch Competition next February. With an increasing number of startups across the globe seeing impressive and explosive growth across all kinds of industries, we stand ready to support their journey in scaling their business globally via Hong Kong.”
Charles Li, Chief Executive of HKEX
said: “It is our vision to be the global markets leader in the Asian time zone – connecting China, connecting the world. We are delighted to be supporting JUMPSTARTER in helping them attract quality startups and talents to Hong Kong, and look forward to working with them in promoting Hong Kong as a world-leading centre for entrepreneurship, fundraising and IPOs.”
Peter Yan, Chief Executive Officer of Cyberport
said: “Cyberport is committed to nurturing youth, start-ups and entrepreneurs to grow in the digital tech industry by connecting them to strategic partners and investors. The Global Pitch Competition by JUMPSTARTER aligns with our aim to promote Hong Kong as a hub for innovation and technology that connects quality start-ups, corporates and investors, and empower Hong Kong's start-up community.”
Albert Wong, Chief Executive Officer of HKSTP
said: “Hong Kong Science Park is of full commitment that we strive to co-create with various stakeholders to our ever-growing I&T ecosystem, and may this empower our startups continue to grow and succeed by crystallising ideas into solutions. With JUMPSTARTER that connects tech hubs around the world, it further promotes a message to the world of Hong Kong as an international I&T hub and destination for global companies and talent to seek new opportunities while bringing our home-grown companies and solutions out to the world.”