Applications open for Deloitte's 2nd Hong Kong Tech Fast 20 Program

17-Jun-2019

Deloitte has announced the launch and start of applications for its second Hong Kong Technology Fast 20 (TF20) and Rising Star programs, which identify fast-growing companies with high business potential and provide a platform for them to share their success stories, with a focus on seizing new opportunities in the Greater Bay Area.

This year, Deloitte is pleased to join forces with Strategic Partners Hong Kong Cyberport (Cyberport) and Hong Kong Science and Technology Parks Corporation (HKSTP), and Diamond Sponsors Prizm Group and Spark Ventures. Other supporting organizations include Alibaba Entrepreneurs Fund, Beyond Ventures, Hong Kong Exchanges & Clearing (HKEX) and Radiant Tech Ventures Ltd.     

Deloitte Hong Kong TF20 Program Leader, Markets & Global Network Partner Philip Law says, "Fast-growing technology companies are new drivers of Hong Kong's transformation hub under the Greater Bay Area development blueprint. To support these companies, we have made TF20 as a platform to promote their market eminence, meet successful counterparts and connect with investors."

"TF20 is a globally recognised program because companies are judged by using Deloitte's stringent evaluation methodology, which is based on criteria including revenue growth rather than intangible business concepts or ideas. Many of our previous winners have become leaders in their industries, backed by solid business models, proprietary technologies and shrewd management." 

Winners of the Hong Kong TF20 will be eligible to participate in the Deloitte China TF50, a program widely recognised as "the Oscars for high technology companies". Its notable winners include Tencent, Baidu and Alibaba. With its genesis in Silicon Valley in 1995, the Deloitte Technology Fast 50 program has since been replicated in many countries and territories, becoming the yardstick for fast growing technology companies worldwide. 

Chairman of Cyberport Dr. George Lam adds, "We are delighted to become the strategic partner of Deloitte Hong Kong TF20 and Rising Star programs again after similar collaborative efforts in 2017. The Cyberport community achieved fruitful results in the previous program. Our incubatees KLOOK, TNG and Orii were named Rising Star 2017 while GOGOVAN ranked top 3 in Hong Kong TF 20. I would encourage Cyberport digital tech start-ups to actively participate in this year's program and I hope to see them achieving good performance again and through Deloitte's platform better seizing the opportunities arising from the Greater Bay Area development."

Chairman of Hong Kong Science and Technology Parks Corporation Dr. Sunny Chai says, "We are delighted to be the strategic partner of Deloitte Hong Kong Tech Fast 20 for the second time and look forward to supporting promising tech companies emerging from this program. We have seen Science Park companies making big strides since winning at TF20. The 2017 Deloitte Hong Kong Tech Fast winner, SenseTime is now the world's most valuable AI unicorn; and GRST Holdings and Sanomics, which were Deloitte Hong Kong Rising Stars of 2017, have respectively won this years' the Grand Prix of the International Exhibition of Inventions of Geneva and become the first Hong Kong biotech startup to open a Bangkok offshoot as a gateway into the ASEAN markets. Through our collaboration with Deloitte, we will further extend our efforts in supporting incubatees and partner companies to thrive and building a vibrant innovation and technology ecosystem together."

Director of Prizm Group Jeff Hau, says, "Prizm is excited to sponsor the Deloitte Hong Kong TF20 program, working together to support tech start-ups in the region. In the tech arena, reacting quickly to market needs is essential for success, but being passionate and adhering to your company's goals are just as important. Prizm shares this belief because we have come a long way ourselves. Being curious and constantly learning is another aspect of staying competitive in tech. These programs are a great platform to learn from industry experts and past winners. We look forward to exchanging ideas with rising start-ups and accelerating development of the tech ecosystem in Hong Kong."

Founder of Spark Ventures Vincent Law says, "It's been great to see Deloitte step up its support for startups in the last few years. As a Hong Kong-based venture capital fund, Spark Ventures is also a strong supporter of Hong Kong startups, and we are delighted to sponsor the Deloitte Technology Fast 20 Program (TF20) and Rising Star Program in Hong Kong. Hong Kong has a multitude of top-quality startups. The TF20 program recognizes and profiles these fast-growing companies with viable business models and encourages the development of the most innovative and promising industries in Hong Kong. We look forward to supporting the startups and helping Hong Kong innovators turn their ideas and visions into successful companies."

The Hong Kong TF20 Program welcomes applications from fast growing companies and technology firms in China, Hong Kong and Macau with at least three years of business operations and operating revenue of at least HKD 1,200,000 during the 2016 fiscal year. With a shorter business history, companies can join the Deloitte Hong Kong Rising Star Program by providing a written description of their background, management team, core competencies, business model, products, technologies, industries and market recognition.