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5 in 5 minutes - May 12th

Hong Kong Startup News Round Up

ID Capital to grant for Future Food Asia Award

ID Capital, a Singapore-headquartered investment and consulting firm, has launched the Future Food Asia Award (FFAA). Supported by the Economic Development Board (EDB) of Singapore, this Award is the first of its kind dedicated to Agriculture (Agritech) and Food technology (Foodtech) startups in the Asia Pacific region.

The Award is open to pre-Series A startups in Asia, with at least USD 500,000 seed money and who plan to raise between USD 2 million. Application opened in January 2017 and the award will be granted in May 2017, the jury will comprise a panel of international finance and industry experts.

Citi Bank launches Citi HK FinTech Challenge 2017

Citi HK FinTech Challenge 2017 is a competition to encourage developers and FinTech companies to develop innovative solutions with the aims to enhance the banking experience and solve business pain points. Startups can work on enhancing personalized experience, customized products and solutions, cybersecurity and operation efficiency.

Application is opened now until 14th May, participants of all ages and nationalities will be eligible for the Challenge as an individual or part of a developer team or company. Citi offers a share of HK$ 650,000 in cash awards to award recipients plus the opportunity to explore a commercial relationship.

Register here

Betatron startup, Pakpobox, generates US$700,000 revenue & closes new investment

Pakpobox, a Hong Kong-based startup that builds smart locker network to solve last-mile delivery bottleneck, has generated over US$700,000 revenue and secured investment after joining Betatron, a Hong Kong-based non-vertical accelerator program providing both funding and mentorship for startups.

According to a press release from Betatron, Pakpobox has generated over US$700,000 in revenue and has closed an investment from a strategic partner, 4PX, who are able to add tremendous value to the business.

The accelerator program has also helped Pakpobox extend its network in China, Macau, Malaysia, and Indonesia.

Hack Horizon completes its inflight travel hackathon

Founded by Kostadin Kolev, Kristy Hart, Johannes Jaeger and Sandra Sobanska - four inquisitive globe-trotting millennials based in both London and Hong Kong, Hack Horizon gathered thirty two developers, designers and entrepreneurs from markets including the UK, US, South America and Asia for a three-day hackathon.

The 72-hour hackathon includes a 12-hour flight between Hong Kong International Airport and London Heathrow, finished with the pitch event at the London Transport Museum.

Destination, an In Flight Entertainment to mobile retail solution that allows passengers to book activities for their destination whilst on a flight that was crowned the winner by the esteemed panel of travel expert judges.

Singapore Management University to launches Global Business Plan Competition

The Institute of Innovation & Entrepreneurship at the Singapore Management University has launched the Lee Kuan Yew Global Business Plan Competition, addressing challenges of the 21st century. Participates for this year's competition are invited to propose innovative products and service around smart city.

Teams will participate in intensive startup workshops, have direct access to acclaimed mentors and visit key innovation hotspots in Singapore. Application for the competition is opened from now until 16th June, 2017. The finalists will be announced on 14th July, 2017.

Apply here

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