Pitch competition to help Hong Kong’s early-stage tech start-ups make an impression
EQT Impact Challenge 2025 will see pre-seed and seed-funded firms vie for initial funding of more than US$100,000
Hong Kong’s start-up ecosystem is expanding at an impressive pace. According to InvestHK, the government agency responsible for attracting foreign direct investment, a record 4,694 start-ups were registered in 2024.
These early-stage companies benefit from the city’s financial infrastructure, legal framework and access to capital markets, which together create a favourable environment for founders looking to scale their businesses.
It is because of advantages such as these that Jean Eric Salata, chairperson of EQT Asia, one of the world’s leading investment organisations, sees Hong Kong as such a dynamic hub for innovative enterprises.
EQT itself has nearly three decades of investment experience in Hong Kong, and Salata says the city’s strategic location, connectivity to international markets, financial expertise and access to capital make it well-positioned to allow start-ups to thrive.
“This city has always been a gateway for capital, a hub for talent and a bridge to southern China and Southeast Asia,” he says.
However, many early-stage deep-tech start-ups still struggle to secure funding, since their innovations often require several years to reach commercial viability.
To help address this need, EQT launched the EQT Impact Challenge, a competition that offers practical support to founders with new deep-tech solutions. It is designed to help early-stage companies access funding, expert guidance and strategic mentorship.
The EQT Impact Challenge 2025, which is being held in partnership with the South China Morning Post, will provide a high-profile platform for Hong Kong’s emerging entrepreneurs to present their business ideas to leading investors and industry experts.
“We are looking for scientific breakthroughs that change our perception of what is possible,” says Cilia Holmes Indahl, CEO of the EQT Foundation, the philanthropic arm of the company. “We want to find entrepreneurs who are not afraid to dream big and dedicate their careers to bringing impactful solutions from lab to market.
“Many of these solutions require more patient capital, which we can provide, while also offering expertise to help shorten the time to market.”
The foundation supports innovations within the broad areas of climate, nature, health and well-being. It also provides founders and start-ups with catalytic capital to help bring their breakthrough solutions from lab to market.
Strengthening commitment
EQT, which is headquartered in Sweden, has investments across a global portfolio of more than 300 businesses and continues to play a key role in fostering high-growth enterprises in Hong Kong and the wider Asia-Pacific region.
The firm has backed several Hong Kong-based companies, including Klook, now one of Asia’s largest online travel platforms offering a full spectrum of tours and travel activities. Among other notable successes are Cornerstone Robotics, a leading developer of surgical devices, and Horizon Robotics, a chip-design company specialising in control systems for autonomous vehicles, which is one of the strongest performers this year on the Hong Kong stock exchange.
Now, through the EQT Impact Challenge, the aim is to strengthen this commitment to innovation by providing pre-seed and seed-stage start-ups with the resources needed to scale their impact.
“The objective of this competition is to support the development of talent and entrepreneurial activity in Hong Kong,” Salata says. “We want to give promising start-ups the tools to succeed on a global scale.”
He also highlights the opportunities that come from Hong Kong’s integration with southern China’s Greater Bay Area, which has become a global centre for robotics, semiconductors, green energy and artificial intelligence.
“The future is bright,” Salata says. “But we need to play to our strengths, which include access to global capital pools and proximity to all the amazing technology and developments taking place just across the border in southern China.”
Breakthrough technologies
The winner of last year’s competition in Southeast Asia, Qarbotech, provided a clear example of the transformative potential of deep-tech innovation.
The Malaysian start-up impressed judges with its use of carbon nanomaterials to enhance plants’ absorption of light energy for photosynthesis. This breakthrough technology is already revolutionising agribusiness by increasing crop yields.
Chor Chee Hoe, the company’s co-founder and chief executive, says that the nanomaterials are sprayed in a liquid solution at carefully calibrated intervals. The purpose is to convert otherwise unused parts of the light spectrum into wavelengths that plants can absorb.
“This process allows crops to grow more efficiently, improving yields by between 10 and 40 per cent, or about 1 to 2.5 tonnes extra per hectare,” he says.
The nanomaterials are derived from a process which extracts photoluminescent particles from upcycled agricultural waste such as rice husks and palm oil residue. They have the potential to play a critical role in enhancing food security and making farming practices more sustainable around the world.
Holmes Indahl believes this year’s Hong Kong edition of the EQT Impact Challenge will attract an equally exciting group of entrepreneurs working on scientific advances with real-world applications.
“I look forward to seeing the candidates at the frontiers of impact in such a unique start-up hub as Hong Kong,” she says. “Overall, we hope to see people with a scientific background in their field, doing something that hasn’t been done before – perhaps changing molecules, advancing materials science, or innovating in life sciences.”
The next step
The competition winner will receive €100,000 (US$108,000) of funding from the EQT Foundation to help accelerate their business plans.
Finalists will pitch their ideas in June, presenting strategies for sustainable growth and long-term impact before an expert panel of judges. The competition is also expected to attract interest from a broad network of entrepreneurs, investors and incubator programmes from beyond the city, further strengthening Hong Kong’s start-up scene.
As a result, participants will gain access to Hong Kong’s world-class incubator ecosystem and networking opportunities, and have the chance to engage with industry leaders and global investors actively looking for high-potential ventures to back.