Please look through our frequently asked questions sections below. If you still did not find the answer to your question please do not hesitate to reach out to us by email: [email protected] The below questions will be updated from time to time.
Who should join PPGC?
Primary business focus on providing PropTech solutions
Solid foundation for exponential growth, developing new business opportunities, or seeking next-round funding
Current fundraising stage from Seed to Series A
What kind of solutions are we looking for?
Intended Impact on Property & Real Estate Ecosystem or Addressing ESG Factors
All technology companies offer innovative solutions to stakeholders based around the property lifecycle. Disrupting or advancing the real estate industry to increase efficiency, visibility, experience, flexibility, productivity or create values and address sustainability issues on ESG (environment, social, governance).
Solutions coverage can be multi-disciplinary and across sectors of real estate, construction, smart city, legal, finance, and collaborative and coopetition projects. Basically everything from:
If we are not based in Hong Kong, can we still apply? Do we need to relocate my company to Hong Kong to participate?
Yes, we accept startups based all around the world. Your team doesn’t necessarily need to relocate since we can do the application process remotely.
Does our startup have to be registered in Hong Kong?
Your company can be registered anywhere, we welcome you to expand your business in Hong Kong. We have liaised with various stakeholders in the PropTech ecosystem, hoping this will help you get in touch with the right parties. The selected startup will be eligible for applying the HKSTPC-ParticleX Accelerator Scheme with access to selected HKSTPC start-up support services. Feel free to contact us for further details.
What if I wish to set up a business presence in Hong Kong?
You may get in touch with StartmeupHK or InvestHK. InvestHK is a HKSAR government department with responsibility to attract and retain foreign direct investment in Hong Kong. StartmeupHK offers a wide range of free and customised services to global innovative startups to help them set up, launch and scale in Hong Kong.
Their services include:
provide information on planning and evaluation
facilitation of visa/bank account opening
introduction to ecosystem players and useful connections
marketing & PR support for launch/expansion
Contact person Mr. Stanley Ho, Senior Manager, StartmeupHK of InvestHK Email: [email protected]
Any cost involved for the application?
Application is free of charge.
What are Technology Readiness Levels?
Technology Readiness Levels (TRLs) are indicators of the maturity level of particular technologies. This measurement system provides a common understanding of technology status and addresses the entire innovation chain. There are nine technology readiness levels; TRL 1 being the lowest and TRL 9 the highest.
Technology Readiness Level
1. Concept Evaluation
The translation of scientific research into applied research. This is mostly exploration of a technology’s basic properties.
2. Technology Evaluation
The study of how technologies could be applied in the market. This is the point where the project’s direction takes form.
3. Proof-of-Concept Research
At this phase, active R&D begins and a technological solution is developed. This stage looks at the critical function of the technology and asks, “what is required for this technology to meet the application’s requirements?”.
4. Early-Stage Prototype Development
The integration and testing of basic components in a laboratory environment. This can be done multiple times during technology development to ensure that the technology is progressing toward its desired purpose.
5. Late-Stage Prototype Development
The integration and testing of basic components in a simulated environment. This is done following lab testing and usually involves accessing better testing equipment to identify potential issues.
6. Simulated Environment Pilot
Upon completion of the technology’s design, final testing can commence. This will provide data critical to the commercialization phase where the technology is applied.
7. Operational Environment Demonstration
Using the prototype in an operational environment to understand how it performs in non-simulated testing. Further development may be required to address performance issues.
8. Final Testing and Evaluation
Upon further testing, the technology has proven itself to be successful under normal operating conditions.
9. Successful Deployment
The application of a technology, in its final form, in real-life conditions.
While there is more than one definition of Technology Readiness Levels, applications to ParticleX PropTech Global Challenge will be accepted as long as they demonstrate proof of concept. For example, a tech startup develops a Li-ion battery storage technology for the construction industry that can hold 50% more energy by weight than the diesel generator on the market. They are able to prove with great success in a laboratory environment with simulated real-world settings. In this case they attained the proof of concept.
What stage should the participating startups be at?
This joint initiative aims at fostering and further developing promising tech companies in the dynamic PropTech ecosystem, with the goal of creating innovative technology solutions for the property and real estate industries and addressing the ESG factors. Most startups are eligible as most of their technology propositions are somehow relevant with the proptech ecosystem and ESG issues. Startups from Seed to Series A stages are welcome to apply to this programme. ParticleX, HKSTP, HKAI Lab and Chinachem will most likely select different standards of startup for collaboration, investment or incubation. Asia PropTech offers onboarding support and advisory services, while Smart City Consortium provides a resourceful platform to connect with various PropTech industry stakeholders from China and Hong Kong.
Basically, startups with TRL starting from Level 3 are more likely to get attention by the stakeholders.
What is the programme format?
Our programme selection process is completely virtual, a one-of-a-kind programme with free from the financial shackles of classes, cohorts, commuting, and other additional costs.
What is the selection process?
The 1st round evaluation is to be done by our internal screening team. We shall base on the pitch deck and a checklist of questions to prioritize which teams will be selected to the next stage. We will also categorize your team in different runways (business, funding, incubation and business support) according to your intention. Some teams may be followed up by different partners in this stage by providing various supports, such as incubation offers if necessary.
Shortlisted teams will be invited to join the virtual interview, we will identify teams that are the most suitable solutions for our corporate partners or offer investment opportunities. The best few teams from the 2nd round selection will be invited to attend our monthly investment committee meeting.
How long will it take to consider my application?
The 1st round of screening can be complex and time-consuming. To ensure that all startups are fairly and thoroughly evaluated, there are several stages all applications must pass through . We evaluate the applications on a weekly basis, it is highly recommended to submit your application as soon as possible, since we will respond on a first come first serve basis and a limited quota every month. Please refer to the timeline on programme landing page. (https://particlex.com/ppgc2022/)
How is the program different from the others?
Our programme is uniquely designed to offer tech startups to meet investors, corporate clients and government support resources within one programme and one process. It is a completely virtual programme. Selected startups will be invited to attend online investment committee meetings with HKSTP, HKAI Lab and our PropTech corporate partners. We promise a unique, one-of-a-kind programme with free from the financial shackles of classes, cohorts, commuting, and other additional costs.
How can I get funding support?
You may be eligible to have funding support from this program after going through our investment committee meeting. The selected companies are eligible to be evaluated by the team of ParticleX’s investment Fund, HKSTP’s corporate venture capital fund or our co-investment partners’ fund. However, it is not a guaranteed investment by all parties, the respective investment teams will assess your business to see if you could be a good fit for their fund and support. This is determined on a case-by-case basis.
What is the funding arrangement for selected startups?
ParticleX is an institutional angel fund with a fixed ticket size US$200K for each investment. We also provide various resources to support our portfolios, please visit https://particlex.com/accelerator for more details. Our Programme Partners also have their own investment strategy and subject to their discretionary policies.
We are a start-up and we don’t really need the money. Does it still make sense to apply?
You may also consider to apply our programme, since this is a great opportunity to demonstrate your capabilities, and working alongside with Hong Kong’s leading property developers and relevant corporate users in building construction, property and facility management.
What is the deadline for submitting an application?
PPGC is a continuous program that runs three times a year. Don’t miss this opportunity to meet with our network of investors, business stakeholders, and incubation and mentoring partners. A Demo Day will be organised in collaboration with stakeholders from the global PropTech ecosystem to showcase prominent startup teams.
Applications will be reviewed on a weekly basis, but it is highly recommended to submit your application as soon as possible, since we will respond on a first-come-first served basis with a limited monthly quota.
Do I need to be concerned with my intellectual property?
We do not share your startup information with anyone outside the staff and partners of ParticleX.
Can I apply again if I participated in the previous PPGC?
Yes, please reapply, especially please send us an updated business plan and indicate that your business hits a key milestone.