Cyberport IncuTrain Centre recently admitted the highest ever number of incubatee companies. A record 22 new start-ups were accepted on to the scheme in October and November. This latest intake also saw the greatest number of applicants with the total reaching 56.
Half of the incubatee intake will be based at Cyberport while the remaining will operate off-site. This year’s incubatees mainly come from six key business categories spanning gaming, animation/comics, music/audio, education and infotainment, tools and technology and creative digital lifestyle.
Among the new incubatees is award-winning Nuthon IT Solutions. A specialist in providing mobile solutions for smart phone platforms and location based mobile applications and mobile games, its store locater and mobile coupon download application Leisure Guide, was awarded, on December 9, the Champion and the Usability Award at the Windows Mobile Creative Software & Game Design Contest, an event sponsored by Microsoft, and co-organized by The Pocket PC Channel and the Cyberport IncuTrain Centre.
The software gives consumers access to the latest retailing information and offers stores a mobile marketing platform on which they can promote their products and services. As one of the five winners chosen from over 100 applicants, Leisure Guide will be launched in the Microsoft Marketplace in Hong Kong and be ready for downloading later this month.
Cyberport’s incubatees will have access to professional assistance in a number of areas including training and services such as marketing, business matching and partnering, the introduction of angel investors and venture capitalists and financial support. The IncuTrain Centre aims to help start-ups realize their fullest potential so that every creative idea will have an opportunity to be nurtured into commercial success.
It seems like this program is attracting more established companies now, which would help to offset their costs of new development. Interesting.
that’s exactly what I was thinking, Jon.bad news for new startups, good news for established but stuck ones?
I don’t think it is bad news for anyone. Think of the benefits to the whole ecosystem, if there are successes from these programs, it will make a case for more resources to be made available. Also, it is possible that some of the people having worked within that framework will see a benefit and start their own company later.
I think Tim means its tougher for the guys with the very early stage ideas to get off the ground…you still need a rich uncle to get you started and THEN IncuTrain will bring you in after you’ve actually built a prototype, done all the groundwork and proved that you won’t easily spend the money ;-)It’s bad news for smart people with no funding, but its the safest way that the program can produce companies that go to the next level.
yea that’s what I meansafer bet for IncuTrain, but like Jon said, it can only be better for the ecosystem going forward for all
I think that is a shortcoming of the existing programs in HK as a whole. They are matching funds setups rather than grants or loan programs. There is a real need for incremental funding for startups that at least offsets that need.One of the explicit statements in the IncuTrain application is that they will only accept companies that are funded or have a real indication of being fundable.
“The needs of the many outweigh the needs of the few”
On another note, it looks like there is an early stage incubator hatching soon in HK. I can’t say more at this point, but I’ll post more as it is available.
Jon, that's good news. Keep us updated.Regarding the IncuTrain news, I think any new development in helping young companies in Hong Kong is good news. Hopefully more startups would mean more opportunities for investors in this type of investment and hence more angel funding happening in HK.