Award Overview

13 selected finalists (Top 10 of early-growth stage and Top 3 of idea stage) 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.

People’s Choice Award
$10,000HKD
Voted online by the general public and fans’ favorite social innovation idea or social startup competing as one of the top 13 finalists

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.
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:

  • 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 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