Yes, they are eligible to apply for MetroChallenge.
Yes, final year students are also welcome to apply for MetroChallenge. You are recommended to use MetroProject Implementation Fund to start your business after graduation.
No, individual applicants are not allowed. However, an interdisciplinary team with members from different but relevant background is usually preferred by the Assessment Panels.
Teams of 2 – 8 members with complementary backgrounds and knowledge are eligible.
Yes, as long as you submit the required application documents before the application deadline.
No, each applicant is permitted to join only one team, and each team is allowed to submit only one application.
HKMU will regard the Team Leader as the contact person responsible for coordinating communication between SAO and other Team Members. Aside from this, the significance of both the Team Leader and Team Members, in terms of contributions to the proposal, should be equal.
Yes, non-HKMU members can also join. However, it is required that the Team Leader should be a current student from HKMU or recent graduates from HKMU who carries a valid student status, and hold a core role in the team at the time of application.
No, the same set of Assessment Criteria listed in point 4 of Application Handbook will be applied.
In general, no change of team members is allowed once you have formally submitted an application for MetroChallenge. Any change of team members request submitted afterward will only be reviewed on an exceptional basis and it must be supported by sufficient strong reasons for the benefit of awarded project execution after the final assessment.
The subsidy can be used to build up minimum viable product (MVP), including prototype and market testing and validation.
The subsidy will be disbursed on a reimbursement basis after the teams have submitted the following documents: a 1-page business proposal, a maximum 15-page pitching deck, and a maximum 4-minute short video. These should be assigned with concrete proof, describing their project and validated MVP.
Yes, Implementation Fund will only be disbursed after the awarded teams have agreed to implement the project. The project should be executed within 12 months (including the 10-month funding period), and showcase in the coming year of Entrepreneurship Day. The grant of Implementation Fund shall be subject to further agreement of terms and conditions governing the disbursement and the use of Implementation Fund.
The Implementation Fund shall be disbursed in 4 installments, allocated to awarded teams within 30 days following satisfactory assessment and approval by the HKMU and the appointed advisory service provider after each progress review meeting, and upon receipt of all required and completed progress and financial reports.
Yes, you can use the funds to pay employee salaries, but team members who are not considered employees are not eligible to receive a salary. This is allowed only if there is sufficient proof and should be limited to a maximum of 20% of the total expenditure. Otherwise, the MetroProject Implementation Fund granted to the awardees is intended for project implementation, including research, business, and development, and should not be used for any kind of remuneration for the awardees.
It is expected that the fund will be fully utilized to support the execution of the awarded project within the Funding Period. If the team have remaining funding by the end of each progress period, HKMU reserves the right to postpone or withhold the next installment(s) of funding. HKMU encourages teams to utilise the funding effectively to ensure progress.
HKMU encourages awarded teams to approach and discuss with the respective School(s), Office(s), Unit(s) or staff-in-charge directly for the utilization of university’s resources including laboratory facilities or equipment.
