Hong Kong

Startup Funding in Hong Kong: University Programmes for Student Founders and Early-Stage Startups

If you are building a startup in Hong Kong, your first source of support may be closer than you think.

Updated

May 7, 2026 1:16 PM

Main Building of the University of Hong Kong. PHOTO: ADOBE STOCK

Across Hong Kong’s public universities, entrepreneurship is now part of the campus ecosystem. Many universities offer startup funding, mentorship, training, workspace, investor access and pathways into larger incubation programmes such as Hong Kong Science and Technology Park (HKSTP) and Cyberport.

For student founders, researchers and alumni, this can be a useful place to begin. You may be able to test an idea, build a prototype, form a company or apply for early funding through your own university before looking for external investors.  

The challenge is knowing where to start. Each university has its own startup programmes, eligibility rules and funding structure. Some are designed for student ideas. Others are built for research commercialization, deep tech ventures or startups already preparing to raise investment. Below is a practical guide to startup support and university startup funding at five major publicly funded universities in Hong Kong.

The University of Hong Kong (HKU): Startup support for student founders, deep tech and research commercialization
The Centennial Campus of the University of Hong Kong. PHOTO: ADOBE STOCK

HKU offers a wide range of entrepreneurship support through HKU Techno-Entrepreneurship Core, also known as HKU TEC. Its programmes cover early ideas, deep tech projects, Greater Bay Area (GBA) expansion, research commercialization and investor matching.

HKU is especially relevant for founders working with university research, intellectual property or technology-led business ideas. It also has entry-level support for students and graduates who are still testing an idea.

HKU startup programme Who it is for Funding or investment Key eligibility points Main support
HKU SEED Programme Early-stage student and graduate startup ideas Opportunity to receive up to HK$100,000 through the HKSTP Ideation Programme The principal applicant must be an HKU member with at least 20% ownership. Open to individual, team or Hong Kong company applicants. Three-week entrepreneurship training, coaching, HKSTP Ideation pathway, iDendron membership for awardees, networking and competition nomination.
HKU DeepTech100+ Deep tech projects and research-backed startups Up to HK$1.39 million The person-in-charge must be an HKU member with at least 20% ownership, or the startup must be an HKU IP licensee. One-year HKU TEC and HKSTP co-incubation, training, HKSTP facilities, iDendron membership and fast-track route to HKSTP incubation.
Tech-Up GBA Innovators Programme HKU-linked startups expanding into the Greater Bay Area Up to HK$600,000, including grant and interest-free loan components The startup team must include HKU linkage or HKU IP. Young entrepreneur rules (e.g. the PIC and core team members must be between the ages of 18 and 39) also apply. Up to two years of mentorship, GBA training, workspace in Hong Kong and Shenzhen/Qianhai, professional services and market access support.
TSSSU@HKU (Technology Start-Up Support Scheme for Universities) HKU technology startups moving toward HK$400,000 to HK$1.5 million per year, for up to three years under each track The applying startup must have at least two members. The PIC must be an HKU student, staff member or alumnus. HKU members must hold at least 20% ownership in total. R&D funding, business setup support, iDendron membership, networking and possible Qianhai grant matching.
HKU Entrepreneurship Engine Fund (EEF) HKU-linked startups raising seed to Series A capital Investment partners may invest US$0.5 million to US$5 million At least 20% ownership must be held by HKU members, or the startup must license HKU IP. Connection to EEF investment partners for independent evaluation.
iDendron@HKU HKU founders needing workspace and community support Not applicable HKU-linked founders and eligible startups. Co-working space, hot desks (HK$900 for six months), meeting rooms, mentoring, events and startup community access.

Best fit: HKU works well for student founders, researchers and alumni who want a structured route from idea stage to technology commercialization.

City University of Hong Kong (CityUHK): HK Tech 300 and a clear startup pathway
City University of Hong Kong. PHOTO: ADOBE STOCK

CityUHK’s main startup platform is HK Tech 300. It is one of the clearest university startup pathways in Hong Kong because it is built in stages: training, seed funding, angel investment and access to external funding.

The programme is open to CityUHK students, alumni, research staff and members of the public using CityUHK intellectual property or technology.

CityUHK startup programme Who it is for Funding or investment Key eligibility points Main support
HK Tech 300 Training Teams learning startup basics Sponsored training worth more than HK$10,000 per project team Open to eligible CityUHK-linked teams and external founders using CityUHK IP or technology. Startup basics, business plan development, pitching and team formation.
HK Tech 300 Seed Fund Early teams turning ideas into startups HK$100,000 per successful team Person-in-charge must show association with CityUHK. 6 to 12 months of funding support, product development milestones and preparation for Angel Fund application.
HK Tech 300 Angel Fund Startups ready to validate a business model Up to HK$1 million angel investment Usually for eligible teams after Seed Fund progress or equivalent readiness. Business model validation, MVP development, investor exposure and incubation support.
HK Tech 300 Launching Stage Startups ready for larger support Access to external funds of up to HK$10 million For eligible startups after the incubation phase. Referrals to ITC, HKSTP, Cyberport and other partner programmes.
HK Tech 300 International and National Startup Competitions Startups entering CityUHK’s ecosystem through competitions Competition-linked opportunities, including access to HK Tech 300 support Competition-specific rules apply. Pitching, exposure, business matching and possible funding pathways.

Best fit: CityUHK is a strong choice for founders who want a step-by-step startup journey with clear funding stages.

Hong Kong University of Science and Technology (HKUST): Startup funding for tech founders and research teams
Hong Kong University of Science and Technology. PHOTO: ADOBE STOCK

HKUST has a broad startup ecosystem with support for students, alumni, researchers and faculty. Its entrepreneurship pathway covers idea exploration, prototyping, MVP testing, research commercialization and investment.

The university’s startup support is especially strong for technology companies, deep tech projects and teams commercialising HKUST research.

HKUST startup programme Who it is for Funding or investment Key eligibility points Main support
HHKUST IPIC Incubation - HKUST IPIC Incubation - Stage 1 Ideation (Through Entrepreneurship 101 Training or Entrepreneurship Bootcamp) Students, alumni, researchers and faculty across different startup stages Stage 1 includes HK$3,000 in-kind company registration support HKUST-linked founders. Structured pathway from ideation to prototyping, implementation and commercialization.
Stage 2 Prototyping (Through HKUST Dream Builder) Student-led teams building a proof of concept or MVP Up to HK$100,000 per startup team The main applicant must be a full-time current HKUST student. At least two full-time current HKUST students must play founder or co-founder roles. Funding, training, mentorship, workspace at theBASE and external outreach.
Stage 3 Implementation (Through HKUST x HKSTP Co-Ideation Programme) Early-stage HKUST-linked startups Up to HK$100,000 The team must include at least one HKUST member. HKUST members must hold at least 10% ownership if a company is formed. Six-month programme, three milestones, coaching, HKSTP training and preparation for HKSTP incubation.
Lo Kwee Seong Tech-Ship Fund Faculty-student teams commercializing HKUST research Extra support of up to HK$200,000 is listed through HKUST’s IPIC pathway Faculty research and student entrepreneurship collaboration. Commercialization support for faculty technologies and student startup teams.
Bridge Gap Fund HKUST researchers developing university IP for commercial use Typically up to HK$500,000 for 12 months Must use HKUST IP. PI must be full-time HKUST faculty. Prototype development, market research, customer discovery, IP development and DeepTech Incubation Programme access.
TSSSU@HKUST HKUST technology startups commercializing R&D Up to HK$1.5 million per year under TSSSU-O or TSSSU+ The applying company must be registered in Hong Kong. HKUST members must usually hold at least 10% ownership. Startup setup, R&D, manpower, equipment, promotion and marketing support
HKUST Entrepreneurship Fund(E-Fund) HKUST technology startups raising investment Initial investment up to HK$5 million per startup The applying startup must be at least 10% owned by HKUST faculty, staff, students or alumni and established for no more than seven years. Early-stage investment, co-investment model and long-term capital support.
HKUST Greater Bay Area Youth Entrepreneurship Fund Programme Young HKUST-linked founders building in Hong Kong or the GBA Up to HK$250,000 HKUST-linked founder requirements and youth entrepreneur rules apply. GBA startup funding, mentorship, product development and market expansion support
RAISe+ Scheme via HKUST Research teams with large-scale commercialization potential Scheme-level support can range from HK$10 million to HK$100 million per approved project Research commercialization teams with industry-matching requirements. Large-scale R&D transformation and commercialization support

Best fit: HKUST is especially useful for tech startups, deep tech teams and founders who need a route from prototype to commercialization.

The Hong Kong Polytechnic University (PolyU): Startup funding for product, applied research and GBA expansion
Hong Kong Polytechnic University. PHOTO: ADOBE STOCK

PolyU’s startup support is practical and product-focused. Its programmes cover early ideas, seed-stage teams, Greater Bay Area expansion, translational research and investment.

This makes PolyU a good fit for founders working on engineering, hardware, applied technology, social impact or commercialization of university research.

PolyU Startup programme Who it is for Funding or investment Key eligibility points Main support
Ideation Funding Scheme Student teams with early ideas HK$5,000 basic prize, with possible nomination to other entrepreneurship programmes The team must be formed by PolyU students. The principal applicant must be a current student of the collaborating faculty or school. Early idea validation and entrepreneurship learning
PolyVentures Micro Fund Scheme Seed-stage teams preparing to form a startup or have incorporated companies within 24 months Up to HK$1.41 million in total support from PolyU and HKSTP Ideation or Incubation routes The principal applicant can be a current student, alumnus, staff member, translational startup postdoc or key owner-operator of a PolyU technology licensee. HK$20,000 cash prize for shortlisted teams, HK$100,000 PolyU Seed Fund for awardees, HKSTP pathway and mentorship
PolyU GBA Innovation and Entrepreneurship Incubation Programme Young entrepreneurs entering the Greater Bay Area market HK$600,000 seed funding Funding is granted to the successful applicant’s Hong Kong limited company and released by milestones. Two-year incubation, mentorship, training, expert advice, Hong Kong and mainland co-working spaces and GBA network access
Translational Startup Postdoc Programme Recent PhD graduates commercializing PolyU research Annual remuneration of up to HK$348,000 and project support, including prototyping (a maximum of HK$50,000 per year) and outreach funding (a maximum of HK$15,000 per year) Applicant needs a PolyU academic supervisor and a recent or near-completed doctoral degree. Free workspace at InnoHub, mentorship, KTEO support, investor access and pathways to Micro Fund, Angel Fund and EIF
PolyVentures Angel Fund Scheme / TSSSU route Technology startups needing larger commercialization support Up to HK$800,000 matching fund of up to three years The applying startup team must include PolyU linkage and meet the scheme requirements. Startup setup, R&D, manpower, equipment, marketing and commercialization support
PolyU Entrepreneurship Investment Fund (EIF) PolyU-linked startups raising early-stage investment Up to HK$4 million The applying startup must have at least one PolyU member holding at least 10% equity or must license PolyU IP. Equity, convertible note or SAFE investment, co-investment support, R&D facilities, mentoring and industry networks
RAISe+ Scheme via PolyU (EIF) Research teams commercializing major R&D outcomes Scheme-level support can reach HK$10 million to HK$100 million per approved project Research commercialization and industry matching requirements apply. Large-scale research transformation and commercialization support
ASCEND Tech for Good Programme (EIF) Youth-led tech-for-good startups Up to HK$3 million per successful applicant Hong Kong-registered startup or company with youth-led requirements. Two-year incubation and support for digital equity and social impact ventures

Best fit: PolyU is well suited for product-led startups, applied technology projects, GBA expansion and founders who want industry-facing support.

The Chinese University of Hong Kong (CUHK): Startup support from idea stage to technology commercialization
Chung Chi College, Chinese University of Hong Kong. PHOTO: ADOBE STOCK

CUHK offers support for student founders, researchers and alumni through the Pi Centre and the Knowledge Transfer Office. Its ecosystem covers pre-incubation, TSSSU funding, early translational research, social impact projects and Greater Bay Area entrepreneurship.

CUHK is especially useful for students who want to start with an idea and later move into funding, mentorship or external incubation.

CUHK Startup programme Who it is for Funding or investment Key eligibility points Main support
PILOTS Lite x HKSTP Co-Ideation / Pi Centre CUHK students at the idea or pre-incubation stage Up to HK$130,000 Open to CUHK undergraduate and postgraduate students, full-time or part-time. The principal applicant must be a current CUHK student. Applicants must not already have registered a business for the project. One-year programme, seed funding, workshops, mentoring, networking, free co-working space and fast-track preparation for incubators
TSSSU@CUHK CUHK technology startups commercializing R&D TSSSU-O: up to HK$600,000 per year. TSSSU+: up to HK$1 million per year in matching funds. Both can run for up to three years The PIC must be a current full-time student, current full-time professor or alumnus who graduated within the last 36 months. Technology readiness requirements apply. Financial support, potential HKSTP incubation, investor access, industry partner access and mentorship
IdeaBooster Fund @CUHK CUHK researchers developing early translational projects HKD 100,000 – HKD 200,000 per project Mainly for full-time CUHK academic staff, eligible teaching or research staff and selected postgraduate research students case by case. Early project development, impact-focused research translation and fast-track interview opportunity with HKSTP Co-Ideation
Knowledge Transfer Venture Impact Fund Knowledge Transfer Venture Impact Fund (KT-VIF) @CUHK CUHK academic-led ventures with scalable social impact Up to HK$300,000 for two years Mainly for CUHK professoriate or research academic staff-led teams. Business development consultancy, publicity support and partnership liaison
Knowledge Transfer Impact Project Fund (KT-IPF) @CUHK Late-prototype research projects with social innovation potential Up to HK$200,000 Mainly for full-time CUHK staff on professoriate or research academic ranks. The venture must be CUHK-affiliated and have been incorporated for more than three years. Support for turning research-based prototypes into real-world social-impact solutions
Greater Bay Area Entrepreneurship Scheme / BESGO FoundRise CUHK students and young alumni building GBA-focused ventures Up to HK$600,000 per selected team Students and young alumni, with scheme-specific selection. Two-year funding and incubation, mentorship, expert guidance and GBA venture-building support
RAISe+ via CUHK Research teams with large-scale commercialization potential Scheme-level support can reach HK$10 million to HK$100 million per approved project University research commercialization teams. Large-scale R&D commercialization and industry matching
ASCEND Tech for Good Programme (EIF) Youth-led tech-for-good startups Up to HK$3 million per successful applicant Hong Kong-registered startup or company with youth-led requirements. Two-year incubation and support for digital equity and social impact ventures

Best fit: CUHK is a good starting point for student founders who need pre-incubation support, and for researchers moving early-stage ideas toward commercial use.

Which Hong Kong university startup programme should you choose?

There is no single best programme for every founder. The right choice depends on your stage, your university connection and the type of startup you are building.

Founder stage Good starting points
You have an idea but no company yet HKU SEED, CityUHK HK Tech 300 Training, HKUST Dream Builder, PolyU Ideation Funding Scheme, CUHK Pi Centre
You are building a prototype or MVP HKUST Dream Builder, HKUST x HKSTP Co-Ideation, CityUHK Seed Fund, PolyU Micro Fund, CUHK PILOTS Lite
You are commercializing university research or IP HKU DeepTech100+, HKU TSSSU, HKUST Bridge Gap Fund, HKUST TSSSU, PolyU EIF, CUHK TSSSU
You want Greater Bay Area startup support HKU Tech-Up GBA, PolyU GBA Innovation and Entrepreneurship Incubation Programme, HKUST GBA Youth Entrepreneurship Fund, CUHK GBA Entrepreneurship Scheme
You are ready for investment You are commercializing university research or IP HKU EEF, CityUHK Angel Fund, HKUST E-Fund, PolyU EIF

The bottom line

Hong Kong’s university startup ecosystem is bigger than many founders realize. If you are a student, alumnus, researcher or university-linked founder, your campus may already offer a route into funding, mentorship, workspace and incubation.

The key is to choose a programme that matches your current stage. Some founders should start with idea validation. Others may be ready for seed funding, TSSSU support or investment.

Before applying, check the latest deadline and eligibility rules on the official university page. These programmes change often, and some funding rounds open only once or twice a year.

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Scaling & Growth

Why The Body Shop Thrives in India but Struggles in the US — Lessons for Startups

From driving social change to making luxury affordable — Lessons from The Body Shop India

Updated

January 30, 2026 11:43 AM

The Body Shop's storefront. PHOTO: ADOBE STOCK

The Body Shop, known worldwide for its ethical values and cruelty-free beauty products, has had very different results in two of its major markets. In the United States, challenges such as shifting retail trends and tougher competition led to the closure of most physical stores in early 2024. Meanwhile, in India, The Body Shop has risen to become one of its top five global markets. After reaching customers in more than 1,500 Indian cities through its omnichannel network, the company now plans to double its 200-store footprint over the next three to five years.  

So what did The Body Shop do in India that proved harder to pull off in the U.S.? Below, we break down why The Body Shop struggled in the U.S., what’s driving The Body Shop India’s growth and what startup founders can learn from the contrast.

The decline of The Body Shop in the US: Reasons behind the fall

In March 2024, The Body Shop’s U.S. unit filed for Chapter 7 bankruptcy and stopped operating its roughly 50 stores. That move effectively ended its brick-and-mortar presence in the country.

A big part of the story is that the U.S. beauty market moved faster than The Body Shop did. Prestige beauty kept growing, and shoppers increasingly gravitated to retailers and brands that feel current and have a strong online presence. Paul Dodd, Chief Innovation Officer at e-commerce fulfilment partner Huboo, have pointed to The Body Shop’s slow approach to digital growth as a major factor behind its decline. With U.S. prestige beauty sales reaching about US$33.9 billion in 2024 and growing at 7% year over year, the demand is clearly there. The brands that stand out and get rewarded were the ones that matched how people now discover products and buy them.  

The company also leaned too heavily on stores at a time when stores were getting harder to run. When foot traffic drops and rents rise, the pressure shows up quickly. Shoppers also had more places to go, including Sephora, Ulta, Amazon and direct-to-consumer sites. A similar pattern played out in Canada, where restructuring included store closures and halted e-commerce. It was another sign that North America had become an operational headache, not just a marketing challenge.

Then there’s the branding issue: its “ethical pioneer” position simply stopped being a moat in the U.S. market. Today, cruelty-free and vegan claims are now table stakes across many newer brands, and “clean beauty” messaging is everywhere. “Initially, the purpose-driven brand was revolutionary, so much so that competitors like Drunk Elephant have adopted a similar ethos,” says Dan Hocking, Chief Operating Officer at advertising agency TroubleMaker. “It was a concept that rightly earned success in the 80s and 90s, but The Body Shop didn’t adapt to changing consumer habits and preferences”. Meanwhile, competitors like Lush have kept people talking through stronger creator/influencer marketing, faster product cycles and more immersive in-store experiences.  

Internal disruption likely made the turnaround even harder. Reporting on the U.S. bankruptcy points to instability, including the U.S. unit saying it did not have advance notice of decisions tied to the U.K. parent’s restructuring. When leadership decisions land without warning, it becomes harder to plan inventory, fund marketing and commit to a clear digital roadmap.

How The Body Shop got its game right in India  

1. Expansion into tier 2 and 3 cities

For years, India’s beauty industry focused mainly on metropolitan cities. Today, however, increasing internet penetration, rising disposable incomes, exposure to global beauty trends and an appetite for ethical, sustainable brands have fuelled demand in smaller towns. That tailwind matters because India’s beauty and personal care market is expected to reach a gross merchandise value (GMV) of US$30 billion by 2027 and is projected to grow at roughly an 10% CAGR. There’s plenty of room for both premium and “affordable luxury” players that can meet consumer where they are.  

The Body Shop has leaned into this shift. Harmeet Singh, Chief Brand Officer of The Body Shop Asia South, has said the brand is expanding into Tier 2 and Tier 3 cities with a focus on central and Northeast India. Reports also point to a clear advantage here: more than 200 stores across dozens of cities, plus online reach into over 1,500 cities. That foundation makes non-metro expansion feel like the next move, not a risky leap.

2. Omni-channel retail strategy for beauty shoppers

Unlike its U.S. front, The Body Shop India has put effort into digital and distribution. Besides its own online store, customers can find the brand on big beauty and retail platforms like Nykaa, Amazon, Flipkart, Tatacliq and Myntra. It has also built more direct routes to purchase through WhatsApp, social commerce, expert chats and live video consultations. For even faster access, it’s on quick-commerce apps like Blinkit and Swiggy.  

This strategy is already showing up in the numbers. Nearly 30% of The Body Shop India’s business came from digital channels as of June 2025. Rahul Shanker, Chief Executive of The Body Shop India, has said the brand wants to lift online revenue to 45–50% of total sales by 2030.

This approach lines up with what’s happening in the market. NielsenIQ data found beauty e-commerce and quick-commerce sales in India rose 39% in value between June and November 2024, with offline growth over the same period being just 3%. The logic is simple: if the market is moving online, you want to be easy to buy online.

3. Inclusivity, accessibility and social impact

The Body Shop’s people-first approach shows up not just in its marketing, but in how it runs the business day to day. Inside the company, it has pushed gender sensitivity across teams. Out of 600 employees, it has 10 staff members who are part of the LGBTQA+ spectrum.  

In stores, the brand has worked on improving accessibility. In 2024, The Body Shop India launched a Braille initiative for visually impaired customers. The programme introduced Braille category callouts in select locations so shoppers can navigate more independently.

On the sustainability side, the brand ties its message to its supply chain. An example is its long-term partnership with Plastics for Change, a Bengaluru-based social enterprise, to source “Community Fair Trade” recycled plastic for packaging. The collaboration has resulted in more predictable income, safer work and better access to social services and housing and education projects for the waste picker communities, which often include marginalized groups and women.

The same intent can also be seen in its physical retail. The Body Shop India has been converting stores into its “Activist Workshop” format, where everything is made from recycled materials, including store fixtures and interiors. By mid-2024, it had around 20 Activist Workshop stores in India.

4. Pricing that fits the Indian beauty market

In April 2025, The Body Shop India launched its “More Love for Less” campaign to make products more accessible. Through the campaign, the company lowered the prices of more than 60 best-sellers by 28–30%. The goal was to remove a clear barrier for many shoppers while maintaining the same quality.  

The company has also positioned this as a pricing reset, not a short-term discount push. It’s meant to widen the funnel, especially among younger consumers aged 18–25, where price has been a major hurdle. That matters even more as the brand expands deeper into Tier 2 and Tier 3 cities, where value is often front and centre.

5. Local marketing that feels made for India

The Body Shop India has leaned into localized marketing in a way that feels specific, not generic. In late 2024, it launched “The India Edit”, a collection inspired by native ingredients like lotus, hibiscus, pomegranate and black grape. The tagline, “Only in India, for You,” makes the intent clear: India is not a copy-paste market. This approach matters because India is one of the most competitive beauty battlegrounds right now, with ongoing entry from global beauty brands. When everyone is fighting for attention, local storytelling helps The Body Shop stand out and feel closer to the customer.  

Lessons for startup leaders from The Body Shop India  
  • A global playbook rarely works as-is. Brands grow faster when they understand local buying habits, price sensitivity and culture. The Body Shop India’s product customization, pricing moves and city expansion strategies have shown what that looks like in practice.  
  • Omnichannel strategy matters more than ever in today’s market. Combining retail stores with a strong digital presence makes a brand easier to find and easier to buy, even when shopping habits change.  
  • Tier 2 and Tier 3 cities often hold untapped potential. Competition is often lower, demand is rising and the brands that arrive early can build loyalty faster.  
  • Local supply chains can also help. They can cut costs, speed up delivery and fit the preference many shoppers have for locally relevant products.
  • Marketing needs to match the market. Campaigns that reflect local values and moments build stronger loyalty and help brands stand out in crowded categories like beauty and personal care.
Wrapping up  

The Body Shop’s story in the U.S. and India shows how differently a global beauty brand can perform depending on local strategy. In the U.S., it ran into a tough mix of fast-changing consumer habits, heavy competition and a liquidation process that left little room to rebuild. In India, the brand is riding big tailwinds in beauty retail growth, plus the shift to e-commerce and quick commerce. It has also put real effort into localization, pricing and omnichannel distribution.  

If you’re trying to scale a consumer brand, there’s a clear takeaway here. Understand how your market shops, build strong digital distribution and make the brand feel local. The Body Shop India’s playbook is a useful example of how to do it.