Corporate and Startup Award Categories
With the freest economy in the world, the fintech industry in Hong Kong has experienced significant growth recently. Hong Kong received US$ 546 million of VC investment back in 2017. This award, therefore, seeks to recognize the companies that have shown outstanding achievements in the financial sector.
The cryptocurrency sector is now experiencing significant growth with bitcoin and stablecoin circulation reaching record numbers. The global cryptocurrency market is expected to reach $1.4 billion by 2024. This award, therefore, seeks to recognize the companies that have significantly contributed towards increasing the adoption of this frontier technology.
Moreover, this award is dedicated to recognizing the innovative applications of blockchain technology that has remarkable potential to bring about positive social impact.
The total gross premium of the Hong Kong insurance industry reached $295.8 billion in 2019, indicating a growth of over 16% from 2018. With such precipitous growth in the industry, this award seeks to recognize companies that have shown outstanding achievements in the sector.
The growth of the telecom industry has accelerated with the introduction of 5G, which has the potential to catapult us in terms of technological advancements. This award, therefore, seeks to recognize the companies that have shown outstanding achievements in the telecom sector.
Along with the development of technology, the total number of vehicles registered in Hong Kong has increased to 878,000 in 2019 from 690,000 in 2011. With more and more companies now focussing on green and sustainable mobility and exploring new energy vehicles, along with technological strides being made in the field of autonomous vehicles, this award seeks to recognize the companies that have shown outstanding achievements in the automotive sector.
In 2018, there were around 116,500 workers in the real estate sector, and the total receipts of the real estate sector amounted to $27.8 billion. This reflects how important and crucial this sector is in Hong Kong. This award, therefore, seeks to recognize the companies that have shown outstanding achievements in the real estate sector.
Moreover, with the increasing competition in the Hong Kong co-working space, this award seeks to honor and recognize the achievements of the companies that have established themselves as the market leaders.
Several major international law firms have offices in Hong Kong, whose legal services sector includes more than 10,000 practicing solicitors, 1,500 practicing barristers, and 1,600 registered foreign lawyers. Along with the legal service sector, Hong Kong’s accounting, auditing, bookkeeping and tax consulting services exports amounted to $266 million in 2018, a 6.7% increase from 2017. This award, therefore, seeks to recognize the companies that have shown outstanding achievements in the legal and accounting fields.
Hong Kong has emerged as a major tourist destination over the years, with tourism accounting for 4.5% of the region’s GDP. Moreover, the sector employed around 257,000 workers, accounting for about 6.6% of the total employment in 2018. This award, therefore, seeks to recognize the companies that have shown outstanding achievements in the tourism sector.
The global wellness economy was estimated to be worth $4.5 trillion in 2018. This reflects the role of the wellness sector in the global economy, as well as its importance. This award, therefore, seeks to recognize the companies that have shown outstanding achievements in the wellness and lifestyle sector.
The global pharmaceutical market was worth $934.8 billion in 2017 and is expected to reach $1,170 billion in 2021. Moreover, the global pandemic has highlighted the importance of healthcare systems, and this award seeks to recognize the companies that have shown outstanding achievements in the field.
The entire gaming and esports sector is growing at an unprecedented rate, and it is estimated to be worth $1.8 billion by 2021. This award, therefore, seeks to reward and recognize the gaming companies that have achieved considerable growth over the past year, have gained popularity among customers, and display great potential.
The global collaboration software market size was valued at $9.5 billion in 2019 and is expected to grow at 12.7% CAGR between 2020 and 2027. With remote work being regarded as the future amid the social distancing measures and movement restrictions, team collaboration tools and software have found new importance. This award seeks to recognize the companies that have shown outstanding achievements in the collaboration software sector.
The global computer hardware market is now worth $900 billion, and with the global pandemic outbreak, the market is expected to grow at a CAGR of 5% from 2021 and reach $1036.6 billion in 2023. This award, therefore, seeks to recognize the companies that have shown outstanding achievements in the computer hardware sector.
There were over 30 million cyber attacks in 2018. While cyber threat has always been a challenge, the global pandemic has escalated the issue, with cyber attacks on banks as well as ransomware attacks increasing 238%, and 148% respectively in March this year. Moreover, the global cybersecurity market is expected to grow from $149.49 billion in 2019 to $208.28 billion in 2023. This award, therefore, seeks to recognize the companies that have shown outstanding achievements in the cybersecurity sector.
While educational technology has existed for a long time, it is the pandemic that has soared its adoption among the masses. The total government expenditure on education in 2020-2021 is estimated to be $ 112.3billion, making up 15.4% of the total government expenditure. This award, therefore, seeks to recognize the companies that have introduced innovative and impactful technology in the education sector, in order to educate the future generation and help create skilled workers.
Logistics accounted for 3.1% of Hong Kong’s GDP, and employed 176,900 people in 2018. Hong Kong has a world-class transportation infrastructure that enables smooth and effortless interconnection with the world, especially Mainland China. This award, therefore, seeks to recognize the companies that have shown outstanding achievements in the logistics and supply chain field by introducing innovative technology to the traditionally offline sector.
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Individual Awards
Starting a business has become relatively easy with governments and ecosystem enablers providing financial and other support to budding entrepreneurs. However, this has also increased the competition in the market as more and more companies try to lure customers towards their innovative products and solutions.
Under the circumstances, it is the leadership quality of the founders, their resilience and mettle, as well as their capability to gauge the market needs, that sets companies apart from the competition. Therefore, this category of Jumpstart Awards seeks to reward and recognize the founder of a company with high growth potential, who has accomplished notable achievements and demonstrated commendable leadership qualities, while building a feasible and scalable business in the last year.
Most entrepreneurship ecosystem frameworks are based on the assumption that all entrepreneurs have equal opportunities and access to resources. However, the Global Entrepreneurship Monitor’s Women Entrepreneurship Report suggests that globally, the rate of entrepreneurial activity among women still lags behind that of male entrepreneurs by nearly 25%.
This category of Jumpstart awards, therefore, aims to bridge the gap between male and female entrepreneurship and encourage women founders to take bold strides in the world of business. The award will be presented to a female entrepreneur who has displayed remarkable business prowess, and whose outstanding achievements and contributions have made a significant impact on society, while propelling women founders to the forefront.
Traditionally, businesses followed the routine path of establishing itself in the domestic market before pursuing global expansion. However, with increasing globalization, lowering costs and growing ease of doing business overseas, it has become easier for companies to test their products in global markets.
Therefore, more and more businesses are now focussing on launching products and services internationally, thereby targeting a larger group of consumers and revenue stream from the start. This award aims to acknowledge the entrepreneur who has made significant strides in business with a focus on the international market, and has displayed commendable adaptability and adroitness to emerge as a global leader.
When it comes to business, funding is one of the primary factors that can either help or hinder its growth. Without sufficient capital, the best businesses with the most innovative ideas can also ultimately fail.
However, since thousands of startups, corporates and SMEs crop up each year and compete for investor interest and financing, it is the investors who are responsible for selecting the potential winners. The investors need to display investment astuteness in order to avoid staking their money on the wrong horse. This award, therefore, recognizes an individual investor who has demonstrated the best investment acumen over the last year, in terms of profitable exits, early investments in prominent companies, and overall investment success.