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5 in 5 minutes - 20170811

Hong Kong Startup News Round Up

HKU partners with Cyberport to set up HKU x Cyberport Digital Tech Entrepreneurship Platform

University of Hong Kong (HKU) and Hong Kong Cyberport (Cyberport) have signed a MoU to set up HKU x Cyberport Digital Tech Entrepreneurship Platform to co-develop the FinTech ecosystem.

HKU will host legal and business clinics with professional service on business plan consultancy and legal advice to help Cyberport startups scale. They also set up an "HKU x Cyberport FinTech Nucleus" to introduce innovative FinTech ideas to the Cyberport Centre of Global FinTech Innovation, where FinTech solutions will be showcased and stimulate further collaboration. 

PolyU Tech Launchpad Fund 2018 opens for application

PolyU Tech Launchpad Fund Scheme is a matching funding that aims to support early-stage startups founded by PolyU members. In collaboration with Open Partner Ventures, Hong Kong Business Angel Network, Hong Kong Science and Technology Parks Corporation and The Indus Entrepreneurs Hong Kong, PolyU will match a dollar for every dollar raised from the Authorised Collaborating Investors with a maximum of HK$1 million and a minimum of HK$500,000.

The application is open from now until September 22, 2017. Click here to learn more about the eligibility.

SparkLabs Global Ventures launches its Taipei program, and Hong Kong next on the list

SparkLabs Global Ventures launched its Taipei accelerator program,  a 3-month program will provide startups with funding and office space, startups can also have access to SparkLabs' network of investors and corporate executives.

SparkLabs Global Ventures first launched its accelerator in Seoul in 2012, it launched the Beijing accelerator in early 2017. SparkLabs plans to launch a FinTech-focused accelerator in Hong Kong early next year.

SmarTone to hold 24-hour hackathon in October

SmarTone plans to conduct a 24-hour hackathon in October with the theme of "Smart Properties". Co-organized with Cyberport with the support from Sun Hung Kai Properties, SUNeVision and Microsoft, the hackathon aims to attract software developers, designers and entrepreneurs.  

Three winning teams will share a cash prize pool of HK$100,000, with the opportunity to join Microsoft's BizSpark program and a fast-track interview opportunity to the Cyberport Creative Micro Fund or Cyberport Incubation Program.

WeWork raises US$500M to expand in China

WeWork has raised US$500 million from China's Hony Capital and Japan's SoftBank Group Corp. With co-working spaces in Beijing and Shanghai currently, the company plans to expand to major cities in the next six to twelve months.

Founded in 2010, WeWork is an American company that provides shared workspace, community and services for entrepreneurs, freelancers, startups and small businesses. Currently operates over 155 locations in 16 markets.

Extra: URWork closes US$179M

China-based URWork has closed a US$179 million pre-C funding round from Beijing Capital Land Beijing Xingpai Group, Jingrong Holdings and Beijing Love & Health Group.

Backed by Ant Financial and Sequoia Capital, the co-working space operator plans to expand into the United States, with its first two locations in Los Angeles and New York. URWork also plans to expand into Hong Kong and Taiwan within 2017.

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