Alibaba Hong Kong Entrepreneurs Fund to host Jumpstarter in KL
By Digital News Asia July 5, 2019
- Grand Finale to be held in Hong Kong in February 2020
- Application for Malaysian startups starts today until Aug 2.
ALIBABA Hong Kong Entrepreneurs Fund, a non-profit initiative launched by Alibaba Group Holding Ltd, 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 Kuala Lumpur, Hong Kong, Shenzhen, Shanghai, Beijing, London, San Francisco and Toronto.
The aim is to connect global talent, startups and entrepreneurs with Jumpstarter’s competitive Hong Kong Grand Finale to take place within StartmeupHK Festival on February 11-12, 2020.
The campaign will provide Malaysian startups an opportunity to seize a combined US$5 million investment commitment and US$100,000 in cash if they qualify as the top five Jumpstarter startups.
Application for Malaysian startups starts today until Aug 2.
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 insight, experience and resources to expand their businesses.
The third Jumpstarter is taking the event to a new level with the introduction of eight pitching events in Hong Kong and seven other international cities, including Kuala Lumpur, 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.
Startups must fulfill the following criteria in order to apply:
- Less than five-years-old
- Have raised less than US$20 million in funding
- Startup funding is between Seed and Series C stage
- Possess a ground-breaking and innovative product or service
- Desire to make Hong Kong part of your future plans
One of the highlights of Jumpstarter is a startup competition featuring young companies from four sectors – retail, fintech, smart city and advanced technology.
In particular, Jumpstarter provides more exposure 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, organised by InvestHK.
“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 startup pitching events across the Asia Pacific, Canada, Europe and the US, 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, regardless of their home base, and are excited to embark on new journeys together with them leveraging the unique Hong Kong advantage.
“Through our third Jumpstarter, we join hands with InvestHK, HKEX, Cyberport and HKSTP, who share a common belief with us that Hong Kong is a regional powerhouse for start-ups. We hope to continue to foster an environment in the city that embraces entrepreneurial spirit and we are ready to unleash the potential of innovations and entrepreneurship around the globe,” added Chow.
Interested parties can visit www.jumpstarter.hk for more information.