Entrepreneurship Funding & Practice
PolyU has been helping students and young graduates embrace their entrepreneurial goals via funding, mentoring, and business development support through the PolyU Micro Fund Scheme since 2011.
Under the ethos and spirit of “Do Well Do Good”, the University offers support for entrepreneurship with five funding schemes, targeting specific market segments and phases of the early-stage start-up value chain. Most of the schemes partner government-supported incubation funding agencies, such as Shanghai Technology Entrepreneurship Foundation for Graduates (STEFG), Hong Kong Science and Technology Parks Corporation (HKSTP) and The Social Innovation and Entrepreneurship Development Fund (SIE Fund). Together with structured angel investments, the five funding schemes operating under the micro funding platform offer grants nearing HK$10 million per year, supporting 50 to 60 early-stage start-ups and social innovation projects.
As of 30 June 2017, PolyU had supported more than 200 start-up ventures through the five funding schemes, providing related training to over 7,600 young entrepreneurs and potential entrepreneurs with an aggregate of over 60,000 training hours. The performance of the supported start-ups was encouraging, with around 75% still actively operating. Many had secured further funding amounting to more than HK$180 million. Out start-ups were well-regarded by industry professionals and had collectively won over 120 international and regional awards.