From generative AI to green energy, 15 finalist teams will take the stage after a record 390 teams entered this year's competition.
Updated
October 2, 2026 9:13 AM
Entrance Piazza, Hong Kong University of Science and Technology. PHOTO: HKUST
The HKUST-Sino Million Dollar Entrepreneurship Competition 2026 will hold its finals on October 12, following a record 390 teams from 24 countries and regions taking part in this year's competition.
Jointly organised by the Hong Kong University of Science and Technology (HKUST) and Sino Group, the competition aims to give young entrepreneurs a platform to develop and present their ideas. Sino Group Deputy Chief Executive Officer Wong Wing-lung said the Group has partnered with HKUST for many years to support young talent and the development of innovation and technology in Hong Kong.
He said the competition gives young entrepreneurs a platform to showcase their creativity, exchange ideas and put their concepts into practice.
The international participation is reflected in the universities and regions represented this year. Participants include students from the University of Oxford in the UK, the University of Pennsylvania in the US and the National University of Singapore. Teams have also joined from Australia and South Africa.
After multiple rounds of assessment, 15 teams have advanced to the finals. Their projects cover health technology, generative AI, smart buildings, and green energy management. At the finals, the teams will present their solutions to a judging panel comprising venture capital investors, industry leaders and academic experts. They will compete for more than HK$1 million in prizes and awards.
The 2026 competition has also expanded the areas it recognises. Three new awards have been introduced this year: the Transformative AI Award, the NextGen Biotech Award and the Societal Influential Award. The competition will also continue to offer the Sustainability Impact Award. Together, the awards focus on areas ranging from emerging technologies to social and sustainability challenges.
The organisers are also adding new activities to help teams develop their ideas further. This year's programme includes pitching skills training, AI workshops, investor matching sessions and mentorship opportunities. The AI workshops will cover areas including generative AI and AI agents, while representatives from venture capital firms such as Gobi Partners and InnoAngel Fund have been invited to share insights on fundraising, product positioning and market expansion.
These activities are intended to help young entrepreneurs strengthen their business plans and presentation skills. They also give teams opportunities to explore technology commercialisation and potential market applications.
The competition will also launch the InnoBay 1M PLUS Program during the Grand Final. The programme will focus initially on Smart City Development and aims to connect HKUST start-ups and competition alumni with industry partners. It will also support potential proof-of-concept opportunities and help promising innovations move towards commercial adoption.
The Grand Final will also include an audience voting segment. Members of the public will be able to vote for the team they believe has the greatest potential and impact, with those who correctly vote for an eventual winning team entering a lucky draw.
For Wong, the competition is part of a broader effort to develop Hong Kong's innovation and technology talent. He noted that Hong Kong's first Five-Year Plan and latest Policy Address both highlight innovation, technology and talent development.
Prof. Tim Cheng Kwang-Ting, HKUST's Vice-President for Research and Development, said the competition has also served as a platform for aspiring entrepreneurs to connect with investors, understand market needs, test their ideas and gain practical entrepreneurial experience. He added that the competition has strengthened its training, mentorship and networking activities this year.
The Group believes that closer cooperation between industry, academia and research institutions can help turn innovative ideas into practical applications. Through the competition and its wider support programmes, young entrepreneurs are given opportunities to develop their ideas, connect with potential partners and explore how they can be taken from early concepts towards real-world applications.
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Why investors are backing Applied Brain Research’s on-device voice AI approach.
Updated
January 28, 2026 5:53 PM
Plastic model of a human's brain. PHOTO: UNSPLASH
Applied Brain Research (ABR), a Canada-based startup, has closed its seed funding round to advance its work in “on-device voice AI”. The round was led by Two Small Fish Ventures, with its general partner Eva Lau joining ABR’s board, reflecting investor confidence in the company’s technical direction and market focus.
The round was oversubscribed, meaning more investors wanted to participate than the company had planned for. That response reflects growing interest in technologies that reduce reliance on cloud-based AI systems.
ABR is focused on a clear problem in voice-enabled products today. Most voice features depend on cloud servers to process speech, which can cause delays, increase costs, raise privacy concerns and limit performance on devices with small batteries or limited computing power.
ABR’s approach is built around keeping voice AI fully on-device. Instead of relying on cloud connectivity, its technology allows devices to process speech locally, enabling faster responses and more predictable performance while reducing data exposure.
Central to this approach is the company’s TSP1 chip, a processor designed specifically for handling time-based data such as speech. Built for real-time voice processing at the edge, TSP1 allows tasks like speech recognition and text-to-speech to run on smaller, power-constrained devices.
This specialization is particularly relevant as voice interfaces become more common across emerging products. Many edge devices such as wearables or mobile robotics cannot support traditional voice AI systems without compromising battery life or responsiveness. The TSP1 addresses this limitation by enabling these capabilities at significantly lower power levels than conventional alternatives. According to the company, full speech-to-text and text-to-speech can run at under 30 milliwatts of power, which is roughly 10 to 100 times lower than many existing alternatives. This level of efficiency makes advanced voice interaction feasible on devices where power consumption has long been a limiting factor.
That efficiency makes the technology applicable across a wide range of use cases. In augmented reality glasses, it supports responsive, hands-free voice control. In robotics, it enables real-time voice interaction without cloud latency or ongoing service costs. For wearables, it expands voice functionality without severely impacting battery life. In medical devices, it allows on-device inference while keeping sensitive data local. And in automotive systems, it enables consistent voice experiences regardless of network availability.
For investors, this combination of timing and technology is what stands out. Voice interfaces are becoming more common, while reliance on cloud infrastructure is increasingly seen as a limitation rather than a strength. ABR sits at the intersection of those two shifts.
With fresh funding in place, ABR is now working with partners across AR, robotics, healthcare, automotive and wearables to bring that future closer. For startup watchers, it’s a reminder that some of the most meaningful AI advances aren’t about bigger models but about making intelligence fit where it actually needs to live.