Latest news with #impactchallenge
South China Morning Post
04-06-2025
- Business
- South China Morning Post
How 3 Hong Kong health and biotech start-ups aim to help improve the lives of millions
What makes a business idea stand out? The answer to this perennial question may be found in the 2025 EQT Impact Challenge – a start-up pitch competition in Hong Kong which was previously held in Japan, South Korea and Singapore. One feature of the current edition has been the impressive quality of submissions by many early-stage companies: start-ups operating at the intersection of cutting-edge science and scalable impact. Some of them benefit from the backing of university departments, research institutes, accelerators, incubators, or prominent mentors. Others have already established preliminary links with major companies to help them take the next crucial steps. However, all are committed to steering breakthrough innovations from the laboratory to the commercial market. In many cases, the projects they are working on have the potential to improve the lives of millions of people in the long term. Three excellent examples related to health and biotechnology have made it through to the top five of this year's competition, which is organised by EQT, one of the world's largest investment firms, with its philanthropic arm, EQT Foundation, providing the winning start-up capital to fuel growth, and access to a global network of industry partners and potential investors. The event is being held in partnership with the South China Morning Post. The next stage will involve public voting, with the four that gain the most votes reaching the grand finale. These remaining contenders will have the opportunity to raise their profile, expand their contacts with industry experts and interested investors, and further benefit from the support offered by Hong Kong's dynamic start-up ecosystem. Allegrow Biotech, based at Hong Kong Science Park in Pak Shek Kok, in the New Territories, was set up in 2022 as a spin-off start-up at the biomaterials lab at Hong Kong University of Science and Technology (HKUST).
South China Morning Post
29-05-2025
- Business
- South China Morning Post
Environmental breakthroughs take centre stage in Hong Kong start-up pitch competition
Every early-stage company entering the 2025 EQT Impact Challenge recognised the need to come up with a business concept that could meet three key criteria: it had to be investible, scalable, and hold promise for the long term. The task was to convey that potential to a panel of expert jurors and demonstrate how the company's innovation could drive meaningful change. The pitch competition, which has held previous editions in Japan, South Korea and Singapore, aims to identify and support early-stage companies with their breakthrough concepts, business plans, financial models, and ambitions to scale for long-term growth. It is organised by EQT, one of the world's largest investment firms, with its philanthropic arm, EQT Foundation, providing the winning start-up capital to fuel growth, and access to a global network of potential industry partners and investors. The event is being held in partnership with the South China Morning Post. The competition focuses on novel, deep tech solutions and scientific breakthroughs related to climate and nature, as well as health and well-being. Many leading contenders were prepared to think big, putting forward ideas and solutions that, given the right backing and once scaled, have the potential to change lives on a global scale.
