HKUST-Sino Million-Dollar Entrepreneurship Competition 2026 Concludes with New 1M PLUS Initiative
SingTao · 3 SOURCESabout 3 hours ago8 MIN
Summary
The HKUST-Sino Million-Dollar Entrepreneurship Competition 2026 concluded on October 12, 2026, at Hong Kong University of Science and Technology, with the announcement of winners across multiple categories and the simultaneous launch of the HKUST InnoBay 1M PLUS programme . The competition, which drew a record 390 teams from 24 countries and regions, featured finalists presenting innovations in artificial intelligence, life sciences, and green technology with applications spanning smart buildings, medical technology, clean energy, and sustainable transportation . In the HKUST category, Refined Motor Company took the platinum award with Hong Kong's only recognised vehicle electrification conversion solution, while MirrorSpace Technology from McGill University won the international student category . The three HKUST winners will represent the Hong Kong region at the grand final on December 18, competing against champions from Beijing, Shanghai, Foshan, Guangzhou, and Shenzhen .
Key Points
- Refined Motor Company won the HKUST category platinum award with a modular battery, motor, and controller system that converts fuel vehicles to electric, maintaining original weight distribution while reducing carbon footprint by over 60 percent
- HKUST President Frances Yip (葉玉如) stated the university is committed to translating research achievements into impactful applications, praising winners for demonstrating creativity, resilience, and entrepreneurial spirit
- Sino Group Deputy Chief Executive Officer Philip Wong (黃永龍) emphasised that innovation must be realised through collaboration and practice, expressing hope that the new 1M PLUS programme would connect startups with industry partners
- The HKUST InnoBay 1M PLUS programme was officially launched to link excellent enterprises from mainland competition zones with Hong Kong's industry, capital, and commercial networks
- Ecosystem partners for the 1M PLUS programme include Legislative Council member for Kowloon East Tang Ka-piu (鄧家彪), Samsung Electronics, Cyberport, Hong Kong Science and Technology Parks Corporation, and the Smart City Consortium
Why It Matters
The launch of the HKUST InnoBay 1M PLUS programme represents a significant step towards strengthening Hong Kong's position as an international innovation and technology hub by bridging mainland research talent with Hong Kong's commercial infrastructure and capital networks . With the government targeting net-zero vehicle emissions by 2050 and ceasing new registrations of fuel and hybrid private cars by 2035, Refined Motor Company's recognised electrification conversion technology offers a commercially viable pathway to extend vehicle lifespan while reducing environmental impact . The competition's growing international reach, with entries from 24 countries and regions, underscores Hong Kong's potential to serve as a launchpad for global startup expansion, particularly in smart city solutions .
The launch of the HKUST InnoBay 1M PLUS programme represents a significant step towards strengthening Hong Kong's position as an international innovation and technology hub by bridging mainland research talent with Hong Kong's commercial infrastructure and capital networks . With the government targeting net-zero vehicle emissions by 2050 and ceasing new registrations of fuel and hybrid private cars by 2035, Refined Motor Company's recognised electrification conversion technology offers a commercially viable pathway to extend vehicle lifespan while reducing environmental impact . The competition's growing international reach, with entries from 24 countries and regions, underscores Hong Kong's potential to serve as a launchpad for global startup expansion, particularly in smart city solutions .