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.
Keep Reading
New funding and ad support aim to ease capital gaps for small wedding businesses
Updated
March 17, 2026 1:01 AM
Mannequins display white wedding dresses in a bridal shop window. PHOTO: ADOBE STOCK
The Knot Worldwide, a global wedding technology platform and vendor marketplace, has launched a new grant initiative aimed at small businesses in the wedding industry.
The company, which operates brands such as The Knot and WeddingWire, connects couples with wedding professionals and provides tools to help vendors grow. It says the new WeddingPro Grant Program is designed to address a persistent challenge in the sector: access to capital.
Under the program, up to US$500,000 will be distributed to U.S.-based wedding professionals who run small businesses. The support will come in the form of financial grants, advertising credits on WeddingPro and mentorship. Selected businesses will also receive access to education resources and community support through the company’s network.
The move comes at a time when many wedding businesses remain small and resource-constrained. According to the company’s State of the Vendor Report, more than half of wedding businesses employ fewer than ten people. Three in four professionals surveyed said adaptability is critical to long-term success, while flexible funding remains a barrier. The grant program is positioned as a response to that funding gap.
“Our mission at The Knot Worldwide is to help the nearly 900,000 small businesses on our global platforms get discovered through our centralized vendor marketplace as well as give them the tools and resources to grow their business,” said Raina Moskowitz, Chief Executive Officer, The Knot Worldwide. “We consistently hear from our wedding professionals that access to capital is a barrier to getting started in the industry. With our new WeddingPro Grant Program, we will provide access to both capital and critical support services such as mentorship and education that will enable small business owners to further grow and scale.”
The application window opens on February 23 and closes on March 27. Winners are expected to be notified by May 2026, subject to eligibility verification and compliance with the official rules.
The program is open to U.S. wedding professionals who operate small businesses, have been in business for at least six months, can demonstrate an active revenue stream and earn at least 50% of their revenue from weddings. Applicants must submit a short form and a video outlining their business and how they would use the grant funds over the next 12 to 24 months. They can choose whether they prefer a monetary grant or free advertising support on WeddingPro.
To execute the program, The Knot Worldwide has partnered with the Global Entrepreneurship Network, which works with entrepreneurs worldwide. The company says the initiative builds on earlier efforts to support vendors on its platform, which includes about 200,000 wedding professionals in the United States. Its impact will depend on how effectively the support reaches the businesses that need it most. The real measure will be whether it helps them achieve steady, sustainable growth.