Award Overview

14 selected finalists (Top 11 of early-growth stage startups from across Asia and Top 3 of idea stage innovations from Hong Kong) will have the opportunity to participate in a 4-day impact programme in Hong Kong (Feb 10-13, 2020), which includes holistic entrepreneurship development, mentorship, networking and a final pitch with cash prizes for entrepreneurs to create greater social impact together with a cross-sector community of changemakers.

Impact Areas

ASIA 2020 “New Urban” targets pioneering ideas and social startups addressing any of the following 10 Impact Areas:

Restore Ladders – Alleviating poverty & improving livelihoods
Housing and space – Alternative housing, reimagining the use of public/private spaces
Inclusive society – Enhancing social inclusion, diversity and equality
Rethink Learning– Transforming education and innovating the way we learn
Health and Wellness – Medical, preventive care, healthy lifestyle, aging, end of life
Wisdom City – Sharing economy & community
Global Citizenship – Advocating a ‘WE mindset” to solve global issues
Sustainable Living – Promoting sustainable development, tackling climate change and environmental challenges
Shape Culture – Expanding the influence of art / media and nurturing creativity
Your Impact Area – Others

What We Offer

Grand Prize
$100,000HKD
Recognizing a startup in any category demonstrating excellent innovation in creating social impact with commercial potential and scalability.

Hong Kong Innovation Foundation- Better Living Hong Kong Award
by Sino Group
$20,000HKD
Recognizing an idea-stage social innovation targeted to improve local livelihood in Hong Kong (Hong Kong applicants only)

Health Impact Award
by Johnson & Johnson
$50,000HKD
Recognizing a startup in the “Health & Wellness” category that seeks to provide better access to care in communities while promoting a culture of health and wellbeing.

People’s Choice Award
Voted online by the general public and fans’ favorite social innovation idea or social startup competing as one of the top 14 finalists

Grand Idea Award
by Peterson Group
$20,000HKD
Recognizing an innovative and groundbreaking idea-stage startup or social innovation idea in any of the categories that inspires long-term social change. Accepting submissions from Hong Kong only


Others:

– Live Demonstration to 4,000+ audience
– Pitch to industry experts, corporates and investors
– Startup exchange
– High-impact Mentorship
– Startup incubation and network support from regional partners
– Exclusive listing on AVPN Deal Share Platform
– Social startup tour in Hong Kong
…and more!

Eligibility

Early-growth stage:

  • At least in pilot and prototype stage with with less than 5 years of operation with existing prototype / product or service
  • Startup has raised less than USD$1m
  • Tackling urban social / environmental challenges in Asia
  • Envision regional collaborations and development
  • All submissions and presentations for the Grand Final must be in English
  • Able to attend ASIA Impact Week and Grand Finals in Hong Kong

Idea stage:

  • An original and well thought-out idea that aims to tackle urban social and environmental challenges in Asia
  • Individuals or teams of all backgrounds are welcomed to join
  • Show related experience or knowledge on targetted social issue. Startups in operation must be less than 2 years old
  • All submissions and presentations for the Grand Final must be in Chinese or English
  • Able to attend ASIA Impact Week and Grand Finals in Hong Kong

Judging Process


Regional Judging
Mid – Late Nov, 2019
Top 22 (Early-growth stage) & top 10 (Idea stage) finalists are selected by ASIA regional partners


Second Round Judging
Early Dec, 2019
Top 11 (Early-growth stage) & top 3 (Idea stage) finalists are selected by ASIA judging panel consisting of industry experts across Asia

People’s Choice Award Voting 
Late Nov, 2019 – Feb, 2020
Online voting to select favorite social innovation idea or startup by the general public and fans


Grand Finals Judging
11-12 Feb, 2020
Winners of the Grand Prize, Health Impact Award and Grand Idea Award are selected by the ASIA Grand Finals judging panel. Winner of the People’s Choice Award as voted online by the general public will be announced


Judging Criteria

Early-growth stage:

  1. Innovation (25%)
    – Creativity and innovation in utilizing human and capital resources to address a social need
    – Clear market differentiation from competitors and unique market position
  2. Social Impact (25%)
    – Clear definition, understanding and solution for social challenge
    – Full integration of social impact into business model – impact scales as business scales
    – Long term vision for social change – does not simply satisfy an immediate social need
  3. Commercial Potential (20%)
    – Realistically defined business model and funding strategy
    – Demonstrates potential for financial sustainability and profitability
  4. Feasibility and Scalability (20%)
    – Feasibility in executing the product / service and getting it out to the market
    – Scalability across different demographic, geographic and market settings
    – Potential for cross-sector partnerships
    – Proprietary position that offers high potential for substantial growth and impact
  5. Team strength (10%)
    – Team demonstrates knowledge and understanding of the target community
    – Team has the capabilities, expertise to execute the business plan
    – Team’s ambition, drive, passion, vision and culture

Idea stage:

  1. Innovation (40%)
    – Creativity and innovation in utilizing human and capital resources to address a social need
    – Clear and unique market position
  2. Social Impact (35%)
    – Clear definition, understanding and solution for social challenge
    – Full integration of social impact into business model – impact scales as business scales
    – Long term vision for social change – does not simply satisfy an immediate social need
  3. Market potential & business model (25%)
    – Clear outline of business model demonstrating potential of sustainability and profitability
    – Defines the market size and potential; assess competitive landscape and regulatory framework
    – Demonstrates potential for cross-sector partnerships

Judges

Coming Soon!

Submit Your Innovation