Alfred Lee18 Mar, 2020
One of Hong Kong's leading conglomerates will be investing up to HKD$80m (US$10m) into startups that graduate from their upcoming accelerator program.
The STILE Initiative by STAN Group is a 3 month startup acceleration program based in Hong Kong focused on helping technology startups across Asia achieve next level growth by leveraging on the conglomerate's region-wide resources.
As the STAN Group conglomerate has a major market presence in a diverse range of business sectors, this will add tremendous value to startups that aim to scale quicker across Asia.
The program which is now in its second cohort, is accepting applications for startups from Seed to Series-A in the Fintech, PropertyTech, and LivingTech verticals.
Other requirements for the startups are as follows:
Startups participating in the program will receive extensive support and industry insights through a series of bootcamps, workshops, business networking sessions and mentorships, as well as perks valued at over HK$120k (US$15k) per team.
These perks range from free office spaces, accommodation for non-local start-ups, and business matching opportunities directly with Stan Group's business units.
STILE Initiative's Cohort 1 was immensely successful, attracting over 500 startups from 11 cities across the Asia-Pacific region, resulting in over 60% of the teams obtaining commercial contracts, 60% receiving further investments from Stan Group, and 40% receiving external investment funding.
Interested startups can apply for the program via the quick application link or the official website here. (Deadlines for applications are 31st March for non-Hong Kong startups and 30th April Hong Kong startups)