1/11/2018-9

Elevator fundraising competition 2018 ended successfully DASH Systems air transportation system won investors’ championship

What can I do in 60 seconds? For you and me, 60 seconds has passed, but for 100 startups from all over the world, these 60 seconds is a golden opportunity to find investors. On the past Friday (26/10), the Elevator Recruitment Competition 2018, hosted by the Hong Kong Science and Technology Parks Corporation, was held in the elevator of the highest International Trade Plaza (ICC) in Hong Kong. The start-up elite was to take 60 seconds in the elevator. Introducing their entrepreneurial ideas to the judges, DASH Systems beat 99 finalists from all over the world to win the championship and win a $140,000 investment fund.

The elevator fundraising competition sponsored by the Hong Kong Science and Technology Parks Corporation is the third this year. This year, the competition attracted 591 start-ups from all over the world to set a new record. Of the 100 start-ups selected, 68 were from outside Hong Kong. Huang Keqiang, Chief Executive Officer of Hong Kong Science and Technology Parks Corporation, said: “This year, we have specially recruited more start-ups overseas to participate in Hong Kong. The response is very high. The number of applicants far exceeds the previous session, reflecting Hong Kong’s high-end attraction as a global technology start-up hub. Backing up to Dawan District in Hong Kong and having a good investment environment, coupled with the world’s top universities and supporting research, it does provide excellent development conditions for start-ups.”

Establishing the status of Hong Kong’s initial hub

Huang Keqiang pointed out that a few years ago, when people told Hong Kong about creating science, basically no one would believe it. However, after years of efforts by the SAR Government and Science Park, the scientific research atmosphere has become very hot. “Many traditional enterprises set up innovation centers within the company. I am committed to researching what technology can be applied to the company’s business, and even actively talking with us, applying the park’s start-up plan to the company’s actual operation, fully feel the support of the big business for the start-up; on the other hand, the atmosphere of venture capital is gradually Stronger, local angels and A-round investment funds have been rising. Contacting local investors during the preparation of the elevator fundraising competition this year, the response is also very active, reflecting our efforts to strengthen the science park’s ecosystem and for start-ups. Work has been done to create opportunities for connecting with suitable investors.”

During the competition, 100 start-up elites will introduce their entrepreneurial ideas to the final ten places during the one-minute period of the elevator ride; the top ten contestants who will enter the finals will be investors. A three-minute final referral was formed with the industry leaders to judge the winners and losers. Dr. Zhou Jianxin, founder and CEO of China Crystal Capital Group Co., Ltd., has been the investor reviewer for the third year. He believes that the contestants have outperformed the past year. “The contestants of the previous year and last year mostly stayed at the concept level, although the idea was very good. However, there is still a long way to go from the real application; many of the contestants have products in hand this year, and even have a fixed market, and the level of landing is very high.”

Local venture capital is hot

Zhou Jianxin believes that the elevator fundraising competition is the best opportunity for start-ups to contact investors. “On one occasion, I have seen thousands of entrepreneurs, angel investors and venture capital company representatives. The opportunity is quite rare. I hope that the elevator will be raised. The competition can continue to be held every year.”

As for the honorary review of the conference, Chen Yaobang, a partner of Deloitte China, also agreed to discover a lot of potential startups in the competition. “In addition to providing professional financial services to clients in recent years, Deloitte has also helped many investors to identify potential start-ups, especially the second or third generation of family funds. They are aware that the company has become a unicorn. The possibility of shifting investment from real estate properties to technological start-ups has made the local venture capital atmosphere hot in recent years.”

Air transportation system disaster relief

After many hours of competition, it was finally won by the start-up company DASH Systems from Los Angeles. DASH Systems has established an accurate air transportation system that allows aircraft to drop cargo directly from the air without a runway or landing, completing the delivery process. Because DASH Systems does not rely on vehicles or distribution centers, the delivery speed is up to five times faster than that of commercial courier companies, and the price is twice as cheap.

Joel Ifill, founder of DASH Systems, was very excited about the award. “In addition to trying to expand into the Asian market, we have always wanted to mass produce our products in Shenzhen. Winning the competition is not only a bonus for research and development, but also for staying in science. The opportunity for the development of the park will facilitate the negotiation of production details with the Shenzhen manufacturers in the future.” After careful questioning, it was discovered that Joel had served in the US military and helped the military improve the products as an engineer. “When developing this air transportation system, the original intention It’s not as simple as shipping, but it’s the quickest way to send relief supplies to the disaster area. Last year and this year, the US hurricane Hurricane Maria and Hurricane Florence I have used the air transportation system to provide disaster relief. I hope that this invention will help more people in the future.”

In addition to the champions, this year’s special science and technology group awards were selected to select the best performing teams in the five areas of artificial intelligence and robotics, financial technology, healthy aging, smart cities and next-generation technology. Hong Kong’s start-up Titanium Technology Co., Ltd. won. Huang Shenming, co-founder and director of the company, said that the participation in this competition was very rewarding. “There are many investors on the scene who took the initiative to talk with me and were interested in the automatic disinfection door handle we invented. I hope that there will be opportunities for cooperation in the future. Inviting us to participate in the Entrepreneurship Development Programme, we have more resources to help develop different types of disinfection products, such as disinfection stickers for mobile phones and lifts.”