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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Vizrt shows how live video can be produced anywhere, without complex studio setups
Updated
August 10, 2026 5:56 PM
A camera filming a still life on a table. PHOTO: UNSPLASH
Vizrt, a media technology company, has introduced a new AI-powered tool to simplify the creation of virtual scenes in live production. Its latest release, the AI Keyer, is built around a simple idea: remove the need for green screens and make virtual production possible in almost any environment.
Traditionally, creating virtual backgrounds or augmented reality (AR) scenes requires controlled studio setups, green screens, precise lighting and skilled operators. That makes high-end visual production expensive and difficult to scale, especially for smaller teams or live, on-the-ground reporting.
The AI Keyer is designed to address that gap. It uses AI trained on real-world footage to identify people in a frame and separate them from the background in real time. This allows production teams to replace backgrounds, insert AR graphics or place presenters into virtual environments—whether they are indoors, outdoors or on location.
"Creating XR environments typically demands large infrastructure investments and requires specialized skills for daily operations. The Vizrt AI Keyer removes all these constraints, so high-quality virtual scenes and AR graphics become a reality for live productions of every size", says Edouard Griveaud, Senior Product Manager at Vizrt.
In practical terms, this means a presenter can appear in a different location without moving, a remote speaker can be placed inside a virtual event space or branded graphics can be added to live interviews without a complex setup. The system works without chroma keying, reducing both preparation time and production overhead.
This shift also reflects how the company is approaching AI more broadly. Instead of treating it as a background feature, Vizrt is positioning AI as a core part of the content creation and delivery process.
"AI is transforming the world, and the creative industries are no exception. At Vizrt, we have been on this journey for years, embedding intelligence into our solutions, empowering storytellers and delivering real, measurable impact for our customers", says Rohit Nagarajan, CEO of Vizrt. "That is not a vision for tomorrow. That is happening today. The Vizrt AI Keyer is the latest proof point of our relentless commitment to innovation. Putting breakthrough technology in the hands of every creative, at every level, everywhere in the world".
Beyond the product itself, the direction is clear. By removing the need for green screens and complex setups, tools like the AI Keyer make it easier to produce high-quality visual content in more flexible settings. The result is a production model that is less tied to physical studios and more adaptable to real-world environments, where content can be created and adjusted in real time.