Insight

HKUST-Sino Million-Dollar Entrepreneurship Competition Finals Set for October 12

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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Deep Tech

The Future of Cloud Computing Is in Space — PowerBank and Orbit AI Show How

A breakdown of the mission aiming to turn space into the next layer of digital infrastructure.

Updated

January 8, 2026 6:32 PM

The Hubble Space Telescope, one of the fist space infrastructures. PHOTO: UNSPLASH

PowerBank Corporation and Smartlink AI, the company behind Orbit AI, are preparing to send a very different kind of satellite into space. Their upcoming mission, scheduled for December 2025, aims to test what they call the world’s first “Orbital Cloud” — a system that moves parts of today’s digital infrastructure off the ground and into orbit. While satellites already handle GPS, TV signals and weather data, this project tries to do something bigger: turn space itself into a platform for computing, artificial intelligence (AI) and secure blockchain-based digital transactions. In essence, it marks the beginning of space-based cloud computing.

To understand why this matters, it is helpful to examine the limitations of our current systems. As AI tools grow more advanced, they require massive data centers that consume enormous amounts of electricity, especially for cooling. These facilities depend on national power grids, face regulatory constraints and are concentrated in just a few regions. Meanwhile, global connectivity still struggles with inequalities, censorship, congestion and geopolitical bottlenecks. The Orbital Cloud is meant to plug these gaps by building a computing and communication layer above Earth — a solar-powered, space-cooled network in Low Earth Orbit (LEO) that no single nation or company fully controls.

Orbit AI’s approach brings together two new systems. The first, called DeStarlink, is a decentralized satellite network designed for global internet-style connectivity and resilient communication. The second, DeStarAI, is a set of AI-focused in-orbit data centers placed directly on satellites, using space’s naturally cold environment instead of the energy-hungry cooling towers used on Earth. When these two ideas merge, the result is a floating digital layer where information can be transmitted, processed and verified without touching terrestrial infrastructure — a key shift in how AI workloads and cloud computing may be handled in the future.

PowerBank enters the picture by supplying the electricity and temperature-control technology needed to keep these satellites running. In space, sunlight is constant and uninterrupted — no clouds, no storms, no nighttime periods where panels lie idle. PowerBank plans to provide high-efficiency solar arrays and adaptive thermal systems that help the satellites manage heat in orbit. This collaboration marks a shift for PowerBank, which is expanding from traditional solar and battery projects into the realm of digital infrastructure, AI energy systems and next-generation satellite technology.

Describing the ambition behind this move, Dr. Richard Lu, CEO of PowerBank, said: “The next frontier of human innovation isn't just in space exploration, it's in building the infrastructure of tomorrow above the Earth”. He pointed to a future market that could surpass US$700 billion, driven by orbital satellites, AI computing in space, blockchain verification and solar-powered data systems. Integrating solar energy with orbital computing, he said, could help create “a globally sovereign, AI-enabled digital layer in space, which is a system that can help power finance, communications and critical infrastructure”.

Orbit AI’s Co-Founder and CEO, Gus Liu, describes their satellites as deliberately autonomous and intelligent. “Orbit AI is creating the first truly intelligent layer in orbit — satellites that compute, verify and optimize themselves autonomously”, he said, “The Orbital Cloud turns space into a platform for AI, blockchain and global connectivity. By leveraging solar-powered compute payloads and decentralized verification nodes, we are opening an entirely new, potentially US$700+ billion-dollar market opportunity — one that combines energy, data and sovereignty to reshape industries from finance to government and Web3. PowerBank's expertise in advanced solar energy systems will be significant in supporting this initiative."

This vision is not isolated. Earlier this year, Jeff Bezos echoed a similar idea at Italian Tech Week, saying: “We will be able to beat the cost of terrestrial data centres in space in the next couple of decades. These giant training clusters will be better built in space, because we have solar power there, 24/7 — no clouds, no rain, no weather.  The next step is going to be data centres and then other kinds of manufacturing.” His comments reflect a growing industry belief that space-based data centers will eventually outperform those on Earth.

The idea gains traction because the advantages are practical. Space offers free, constant solar power. It provides natural cooling, which is one of the costliest parts of running data centers on Earth. And above all, satellites in low-Earth orbit operate beyond national firewalls and political boundaries, making them more resilient to outages, censorship and conflict. For industries that rely heavily on secure connectivity and real-time data — finance, defense, AI, blockchain networks and global cloud providers — this could become an important alternative layer of infrastructure.

The upcoming Genesis-1 satellite is designed as a demonstration mission. It will test an Ethereum wallet, run a blockchain verification node and perform simple AI tasks in orbit. If the technology works as expected, Orbit AI plans to add several more satellites in 2026, expand into larger networks by 2027 and 2028 and begin full commercial operations by the decade’s end.

To build this system, Orbit AI plans to source technologies from some of the world’s most influential players: NVIDIA for AI processors, the Ethereum Foundation for blockchain tools, Galaxy Space and SparkX Satellite for satellite components, Galactic Energy for launch systems and AscendX Aerospace for advanced materials.

If successful, the Orbital Cloud could become the first step toward a world where part of humanity’s data, computing power and digital services run not in massive buildings on Earth, but in clusters of autonomous satellites illuminated by constant sunlight. For now, the journey begins with a single launch — a test satellite aiming to show that space can do far more than connect us. It may soon help power the systems that run our economies, technologies and global communication networks.