From generative AI to green energy, 15 finalist teams will take the stage after a record 390 teams entered this year's competition.
Updated
October 2, 2026 9:13 AM
Entrance Piazza, Hong Kong University of Science and Technology. PHOTO: HKUST
The HKUST-Sino Million Dollar Entrepreneurship Competition 2026 will hold its finals on October 12, following a record 390 teams from 24 countries and regions taking part in this year's competition.
Jointly organised by the Hong Kong University of Science and Technology (HKUST) and Sino Group, the competition aims to give young entrepreneurs a platform to develop and present their ideas. Sino Group Deputy Chief Executive Officer Wong Wing-lung said the Group has partnered with HKUST for many years to support young talent and the development of innovation and technology in Hong Kong.
He said the competition gives young entrepreneurs a platform to showcase their creativity, exchange ideas and put their concepts into practice.
The international participation is reflected in the universities and regions represented this year. Participants include students from the University of Oxford in the UK, the University of Pennsylvania in the US and the National University of Singapore. Teams have also joined from Australia and South Africa.
After multiple rounds of assessment, 15 teams have advanced to the finals. Their projects cover health technology, generative AI, smart buildings, and green energy management. At the finals, the teams will present their solutions to a judging panel comprising venture capital investors, industry leaders and academic experts. They will compete for more than HK$1 million in prizes and awards.
The 2026 competition has also expanded the areas it recognises. Three new awards have been introduced this year: the Transformative AI Award, the NextGen Biotech Award and the Societal Influential Award. The competition will also continue to offer the Sustainability Impact Award. Together, the awards focus on areas ranging from emerging technologies to social and sustainability challenges.
The organisers are also adding new activities to help teams develop their ideas further. This year's programme includes pitching skills training, AI workshops, investor matching sessions and mentorship opportunities. The AI workshops will cover areas including generative AI and AI agents, while representatives from venture capital firms such as Gobi Partners and InnoAngel Fund have been invited to share insights on fundraising, product positioning and market expansion.
These activities are intended to help young entrepreneurs strengthen their business plans and presentation skills. They also give teams opportunities to explore technology commercialisation and potential market applications.
The competition will also launch the InnoBay 1M PLUS Program during the Grand Final. The programme will focus initially on Smart City Development and aims to connect HKUST start-ups and competition alumni with industry partners. It will also support potential proof-of-concept opportunities and help promising innovations move towards commercial adoption.
The Grand Final will also include an audience voting segment. Members of the public will be able to vote for the team they believe has the greatest potential and impact, with those who correctly vote for an eventual winning team entering a lucky draw.
For Wong, the competition is part of a broader effort to develop Hong Kong's innovation and technology talent. He noted that Hong Kong's first Five-Year Plan and latest Policy Address both highlight innovation, technology and talent development.
Prof. Tim Cheng Kwang-Ting, HKUST's Vice-President for Research and Development, said the competition has also served as a platform for aspiring entrepreneurs to connect with investors, understand market needs, test their ideas and gain practical entrepreneurial experience. He added that the competition has strengthened its training, mentorship and networking activities this year.
The Group believes that closer cooperation between industry, academia and research institutions can help turn innovative ideas into practical applications. Through the competition and its wider support programmes, young entrepreneurs are given opportunities to develop their ideas, connect with potential partners and explore how they can be taken from early concepts towards real-world applications.
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Overview Energy plans to collect sunlight in orbit and send it to Earth, giving Meta early access to a new source of round-the-clock power
Updated
August 10, 2026 5:56 PM
A corona mass ejection erupts from our sun. PHOTO: UNSPLASH
Overview Energy, a startup focused on space-based power systems, has announced a new agreement with Meta to develop a new source of electricity for data centers. The partnership centres on space solar energy, with an orbital demonstration planned for 2028 and commercial power delivery targeted for 2030.
The deal gives Meta early access to as much as 1 gigawatt of future capacity from Overview’s system. That matters because large technology companies are searching for reliable power sources as demand rises from AI computing and data center expansion.
Overview’s idea is straightforward, though the engineering is ambitious. The company plans to place satellites in orbit that collect sunlight continuously in space. That energy would then be sent to existing solar sites on Earth, where it would be converted into electricity.
Unlike ground-based solar farms, which only generate power when the sun is shining locally, a space-based system is designed to extend power generation beyond daylight hours. In theory, this could help solar facilities produce electricity around the clock without using extra land.
"Space solar technology represents a transformative step forward by leveraging existing terrestrial infrastructure to deliver new, uninterrupted energy from orbit. We're excited to partner with Overview Energy to pioneer innovative energy solutions to advance our AI ambitions and infrastructure", said Nat Sahlstrom, VP of Energy and Sustainability, Meta. "This collaboration demonstrates our commitment to innovation – leveraging cutting-edge technology to strengthen America's energy leadership".
For Meta, the agreement is less about a near-term energy fix and more about securing future options. Major data center operators are increasingly competing for electricity as AI systems require more computing power and more cooling capacity. Traditional energy projects can take years to build, making alternative supply models more attractive.
Overview says its system is designed to work with solar projects that already exist. Instead of building entirely new power plants, the company aims to increase output from current sites by adding energy received from orbit.
"Space is becoming part of America's energy infrastructure", said Marc Berte, CEO of Overview Energy. "Our approach to space solar energy enables hyperscalers and technology providers to secure clean power with reliable siting, and speed to power.” "Together with Meta, we're looking beyond traditional constraints on where and when power can be delivered to meet the growing demand for electricity".
The larger significance of the partnership is what it signals about the energy market. As AI infrastructure expands, companies are beginning to look beyond conventional grids, gas plants and land-based renewables. Technologies once considered experimental are now being explored as part of long-term infrastructure planning.
There is still a long road ahead. Space solar power has been discussed for decades, but commercial deployment remains unproven. Launch costs, regulation and system reliability will all matter.
Even so, the Meta-Overview agreement shows how rising demand for constant power is reshaping where the technology sector looks for its next energy source.