Allegrow Biotech in Biotechnology and Life Sciences Industry Crowned Champion of JUMPSTARTER Global Pitch Competition 2023
Two-week public event attracts more than 100,000 participants
HONG KONG, November 21, 2023 /PRNewswire/ — JUMPSTARTER, organized by Alibaba Hong Kong Entrepreneurs Fund (“AEF”), held its first-ever large-scale offline innovation and technology event, Tech by the Harbor, along Tsim Sha Harbor Tsui to Hong Kong This year. The event took place from November 8 to 19 and seamlessly brought together various innovative technologies and artistic culture, attracting more than 100,000 participants. Additionally, the 6th Alibaba Entrepreneurs Fund/HSBC JUMPSTARTER 2023 Global Pitch Competition (“JUMPSTARTER 2023”) took place on November 16 and 17 on the Tech by the Harbor main stage. Allegrow Biotech in the field of biotechnology and life sciences emerged as the champion among more than a thousand applicants who together participated in 15 pitch sessions and represented 85 countries and regions around the world.
Held for the first time in Hong Kong, Tech by the Harbor not only featured the annual AEF Global Pitch Competition, but also the city’s largest robotics performance, known as Robotics by the Harbor. A total of 80 robots performed at various locations across the city, including HSBC headquarters, Cyberport, Tsuen Wan Nina Tower Squareand the Hong Kong Cultural Centre, showcasing the future potential of robotics and showcasing various robotic applications to the public.
As part of the Tech by the Habour event, an Art Tech Park featuring a light and music show was held at the Tsim Sha Tsui Clock Tower, introducing the public to a mix of creative art and culture. Meanwhile, Vision by the Harbor at K11 Musea not only showcased the top 30 teams of JUMPSTARTER 2023 through exhibitions and interactive activities, but also introduced the world’s first VR game themed “Squid Game” by Sandbox VR, a company invested by the AEF, offering the public early access. to the experience.
StartMeetUp, a global networking platform for startups fully supported by InvestHK, also hosted a networking event during Tech by the Harbour. StartMeetUp connects startups, businesses and investors by making it easy to connect businesses and exchange ideas. It allows hundreds of startups and investors from around the world to network and explore new ideas, collaborations and investments. The networking event received an overwhelmingly positive response from investors, demonstrating their keen interest in identifying investment targets.
“Alibaba Entrepreneur Fund is fully committed to supporting the development of startups, including through the large-scale pitch competition JUMPSTARTER, where we collaborate with various sectors of society to foster the growth of promising startup projects. The inaugural Tech by the Harbor event this year achieved unprecedented success, thanks to the participation of government, businesses and various sectors of society. We hope that the more than 100,000 participants of this event can leave with a deeper understanding of the development of innovation and technology. We would like to extend our sincere congratulations to all the award-winning JUMPSTARTER 2023 teams and express our gratitude to everyone involved in the project for injecting creativity and vitality into our society. The AEF will continue to identify innovative ways to support the development of startups and will actively contribute to promoting Hong Kong as an international hub of innovation and technology,” said Cindy ChowExecutive Director And President and CEO of the AEF.
The top 30 teams in JUMPSTARTER 2023 are primarily concentrated in sectors such as Deep Tech, AI & Data, Robotics (six teams), Sustainability (six teams), Biotech/Life Sciences (five teams) and health (five teams). All will have the opportunity to receive investment reviews, with a total investment amount of up to 5 million dollars.
Allegrow Biotech was crowned champion of the JUMPSTARTER 2023 global pitch competition. Founded in March 2022, Allegrow Biotech is a Hong Kong-based biotechnology company with a vision to bring quality, cost-effective cellular therapeutic products to patients. Their hydrogel microparticles and biomimetic coatings create an optimal environment for generating therapeutic cells, such as tumor-killing cytotoxic T cells, potentially accelerating access to life-saving cellular therapies for patients.
Besides the first prize, JUMPSTARTER 2023 has created several additional prizes to encourage participating startups to invest their efforts in innovation, social impact, environmental impact, business diversity and other aspects. The goal is for them to bring greater value to the community in the future. The winning teams of these prizes will receive a total of 1 million HKD in cash prizes, and they include:
- Winner: Allegrow Biotech
- Best Innovation Awards (two winners): EggLogics and HUA Cloud Intelligent Healthcare
- Social Impact Awards: Guided by AI
- Environmental Impact Award: ALcarbo Technologies
- Diversity and Inclusivity Award: Environment Good
- Web3.0 Innovator Award: Morpheus Labs
Media interested in interviewing the winning teams are invited to contact JUMPSTARTER through its public relations team.
About Alibaba Hong Kong Entrepreneur Fund
Alibaba Hong Kong Entrepreneurs Fund (“AEF”) is a non-profit initiative launched by the Alibaba Group in 2015. To drive the development of innovation and technology, the mission of the AEF is to help Hong Kong entrepreneurs and young people realize their dreams and visions for a Hong Kong dynamic and engaged at regional and global levels. As part of its investment program, the AEF offers Hong KongChina-based entrepreneurs with investment capital and strategic advice to help them grow their businesses and enter markets in mainland China and around the world, using the Alibaba ecosystem. For more information, please visit the website: https://www.ent-fund.org/en/
About JUMPSTARTER
JUMPSTARTER is a non-profit initiative created by Alibaba Hong Kong Entrepreneurs Fund that provides a platform for all entrepreneurs and young people to start their dreams in Hong Kong. It is a one-of-a-kind startup event focused exclusively on showcasing quality start-ups and providing high-impact networking opportunities. Its objective is to build, empower and energize that of Hong Kong start-up ecosystem and entrepreneurship by bringing together entrepreneurs, businesses, investors and the public, thereby contributing to the transformation Hong Kong into a leading hub for global innovation and technology. For more information, please visit the website: https://www.jumpstarter.hk/en/
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SOURCE Alibaba Entrepreneur Fund
