HICOOL Global Entrepreneurship competition!
SCOLAR Network is proud to invite startup founders and changemakers to HICOOL Global Entrepreneurship competition!
100 Million RMB prize fund!
HICOOL Global Entrepreneur Summit and Entrepreneurship Competition was born for Entrepreneurs. It aims to build a multi-level, multi-dimensional and diversified international entrepreneurial model, seeking for high-quality startups worldwide, facilitating entrepreneurs to grow and expand their business in Beijing. The HICOOL 2022 Global Entrepreneur Summit and Entrepreneurship Competition will set up 7 major global competition areas for enrollment worldwide, attracting both overseas and local startups. There are 140 awards for the startups and 28 Talent Scout Awards set with a total bonus of CNY 100 million for awarding.
Application deadline: 30 April!
7 Tech Verticals
1. AI/Virtual reality/Fintech
2. Medicine and Healthcare
3. New Generation Information Technology
4. High End Equipment
5. New Energy/New Material/Energy Conservation and Environment Competition
6. Cultural Creativity
7. Agricultural technology/ Food Technology
Why apply through SCOLAR?
1. Get personalized feedback on your business plan
2. Become part of the regional startup ecosystem network across Eurasia through SCOLAR
3. Meet your co-founder, investor, or partner through our exclusive networking webinars
3. Join our informative webinars on startup founding / growth in China
4. Become a featured startup / founder on our social media channels!
1. Directly through the link: https://www.hicool.com/index.php/account/bole?language=en&code=9xb3c
2. Through SCOLAR invitation code: 9xb3c (www.hicool.com)
3. Scan the QR code in the poster.
Contact us to receive HICOOL application guide directly to your email: [email protected]
WhatsApp/ Telegram: +976 99674707
HICOOL 2022 Global Entrepreneurship Competition Requirements
Basic Entry Requirements
All applicants must meet the following basic entry requirements:
Participants can get enrolled both as an individual or as a team. For a startup enrolled as a team, there should be no more than 3 individuals, each participant can only participate in one startup.
If the startup has been established and registered in Beijing, the establishment time shall be after January 1st, 2012. If the startup has not been registered and established in Beijing, the participants shall have the willingness to start a business in Beijing with specific landing plans.
The participating startups cannot be listed companies (except for those listed on the new third board).
The individual or all members of the team must have no record of material dishonesty, no criminal record and abide by the laws of the People’s Republic of China.
The participating startups shall comply with the relevant provisions of Beijing’s current laws and regulations, industrial policies or plans, have independent intellectual property rights (without disputes) or core technologies related to products and techniques, and have certain innovation and commercialization potential.
If the overseas group is selected, the following exclusive entry conditions shall be met on the premise of meeting the basic entry conditions:
All individuals or team members of the startup should have obtained an overseas educational degree or have studied, worked, or started a business overseas for more than 1 year, and returned/come to China for less than 10 years(return after 01 Jan. 2012).
If the startup is enrolled as an individual, that individual should be the company’s main founder and the largest natural person shareholder of the company registered or to be registered in Beijing, holding no less than 30% of shares. For startups enrolled as a team, the main applicant shall be the main founder and largest natural person shareholder of the company registered or to be registered in Beijing. All team members shall be a shareholder of no less than 5% equity, and the total shareholding of the team shall not be less than 50%.
Startups registered in Beijing from January 1st, 2012 to December 31, 2021, shall be enrolled to the Overseas Group at Growth Stage. For startups registered in Beijing after January 1st, 2022 or have not registered any company yet, please apply for the overseas group of Maker Stage.
If the domestic group is selected, the following exclusive entry conditions shall be met on the premise of meeting the basic entry conditions:
There is no requirement on the overseas background for the participants or teams who apply for the Local Group.
For startups enrolled as an individual, the individual shall be the main founder and largest natural person shareholder of the company registered or to be registered in Beijing, and the shareholding shall not be less than 20%; for startups enrolled as a team, the main applicant shall be the main founder and largest natural person shareholder of the company registered or to be registered in Beijing, and all team members shall be a shareholder of no less than 5% equity, and the total shareholding of the team is not less than 30%.
Startups registered in Beijing from January 1st, 2012 to December 31st, 2021, shall be enrolled to the Local Group at Growth Stage. For startups registered in Beijing after January 1st, 2022 or have not registered any company yet, please apply for the Local Group at Maker Stage.
There is no charge of any kind for participants in this competition.
Participants shall not violate the rules of the competition. The Documents submitted shall not be plagiarized or embezzled. Once found, the participants will be disqualified, and the bonus will be reclaimed. In case of intellectual property disputes, all liabilities shall be borne by the participants themselves.
The participants participate in the competition on the principle of voluntariness. If they have any objection to the competition, they can contact the Competition Organizing Committee Office in time or choose to withdraw from the competition, but they have no right to request to change the competition rules or compensate for any expenses arising from participating in the competition.
The startups and Documents will be open to the Organizing Committee and designated experts for assessment.
If the competition is affected by force majeure, the organizer has the right to adjust the schedule or form of the competition accordingly.
The Competition Organizing Committee reserves the right to the final interpretation of the competition rules.
Competition Rules and Schedule
(1) Competition Area Setting
Seven major competition areas will be set globally, including Asia (Hong Kong China, Macau China, and Taiwan, China included), Europe, South America, Oceania, Africa, and Chinese mainland.
The competition area can be selected according to the current location of the startup or the location of team members.
(2) Verticals Setting
The competition is focused on 7 tech verticals: AI/ VR/ FinTech, New Generation Information Technology, High-end Equipment, Medicine and Healthcare, New Energy/ New Materials/ Energy Conservation and Environmental Protection, AgriTech/ FoodTech and Cultural Creativity.
Which group should you choose when signing up?
We’ve set 2 groups in the competition, namely Overseas Group and Domestic Group. If the individual participant or team members have studied, worked or started a business outside of China for more than 1 year, and the time returning to China (or coming to China) does not exceed 10 years and meet all the other requirements, he/she/they can apply to the Overseas Group. If the individual participant or team members do not meet the above conditions, he/she/ they can only apply to the Domestic Group.
How to select the group when the registration conditions of Overseas Group and Local Group are met at the same time?
Startups from Overseas Group and Local Group will compete respectively. Quota for promotion and award-winning places are generated in each group. The award-winning places are allocated between Overseas Group and Local Group in the proportion of 5:2, that is, there are 100 award-winning places in Overseas Group and 40 award-winning places in Local Group. You can choose any group according to your own circumstances.
How to define the project in the Maker Stage or Growth Stage?
Maker Stage startup refers to startup that has not yet registered a company in Beijing or the startup that registers a company in Beijing after Jan 1st, 2022. Growth Stage startups refer to startup that has been registered in Beijing between Jan 1st, 2012 to Dec.31st, 2021.
Can participants sign up for the competition if they declare as an individual and have overseas study/work experience, yet the shareholding is less than 30%?
If the participant holds more than 30% of shareholding when the company was founded, but sequent dilution caused by financing resulted in the shareholding of less than 30%, he/she would still be considered as the biggest natural shareholder, therefore would be allowed to sign up for the competition. If there will be any change of equity, please add a note when signing up. If the participant holds less than 30% of shares when the company is founded, he/she cannot get enrolled.
Can one startup sign up to multiple tech verticals in the competition at the same time?
No. Each startup can only select one vertical.
If the startup is relevant to more than one vertical, how to choose the best vertical for the startup?
The number of winning startups in each vertical is directly proportional to the number of competing startups in each vertical. It is suggested that when signing up, you should focus on your own product features and technology use cases and select the best-fit vertical.
Is there any limitation on the number of startups a participant can takes part in?
Yes, each participant can only sign up for one startup.
Which group should I belong ?
Please select according to the Competition Rules. If you are still not sure, please contact the Organizing Committee to determine your group.
What if I can’t find my own country/city in the options?
Please select ‘others’ and enter your country/city.
Can I select multiple track for my project?
No. Each project belongs to one track.
You are recommended to include company profile, company development, company culture, company main products, etc.
Please convert into RMB or US dollar according to the real-time exchange rate.
Please enter 0.
Whether sign up as an individual or a team, each applicant can only sign up for one project.
How many people can a team includes at most?
What should I do if my form of funding is quite special?
Please select “others”, and fill in according to the actual situation.
When will the bonus be paid after winning the competition?
(1) For the award-winning startups at Growth Stage, the bonus and awarding policy will be settled after passing the onsite verification by the Competition Organizing Committee and relevant authorities.
(2) For the award-winning startups at Maker Stage, if the company has not been registered in Beijing, it shall be registered within 1 year after the end of this year’s competition (in case of pandemic situation and other special circumstances, you can apply for extension. In principle, the extension time shall not exceed 1 year.). The company shall be registered in Beijing and carry out actual operation. After 3-month actual operation and passing the onsite verification by the Competition Organizing Committee and relevant departments, the bonus and reward policies will be settled. If the award-winning startup at Makers Stage fail to register a company within the required period of time, or fail to meet the actual operation verification requirements within a year after company registration, it shall be deemed to give up the bonus and awarding policy.
Does the winning startup need to pay personal income tax for the bonus received?
There is no need to pay personal income tax, and the company does not need to bear taxes in the process of bonus claim.
How should the bonus be distributed for startup enrolled as a team?
It shall be distributed by the team members based on their internal agreement.
How long is the implementation period of supporting policies such as settlement and children’s education?
All supporting policies shall be implemented gradually after the startup receives the bonus.
What are the criteria for startup assessment and rating?
A startup is evaluated from the founders’ background and core team composition, innovation and technology advancement, marketing capability, financing progress and financial indicators and other aspects of the startup. A startup at Maker Stage will also be evaluated by its intention to land in Beijing.
How do the participants get to know the results of each stage in the competition?
The Organizing Committee will announce the information and the results of competition through SMS, Email, messages on the official platform and other channels.
Are the participant/team members required to attend the roadshows in each stage?
For the startup enrolled as an individual, the participants must participate in the roadshow of each stage of the event. For startups enrolled as a team, at least one team member must participate in the roadshow in the Preliminary Stage. All team members must participate in the roadshow in the Semi-final Stage and Final Stage. The startup can participate in the roadshow onsite or online.
What are the relevant support policies for the competition office space?
Office space support policies mainly refer to rent reduction and exemption policies. Haigao Building provides free office space of no more than 300 square meters, with a rent-free period of up to 3 years. HICOOL Industrial Park provides support such as rent concessions and decoration subsidies.