A global call for startups and scaleups to innovate with AI for a sustainable future in line with UN SDGs
 
Hong Kong, China, 29 August, 2024 – Alibaba Hong Kong Entrepreneurs Fund ("AEF") today announced the Alibaba Entrepreneurs Fund / HSBC JUMPSTARTER for One Earth Global Pitch Competition ("JUMPSTARTER for One Earth"), backed by six-year sponsor HSBC, and is now open for applications until Dec 8, 2024. Since 2020, HSBC has also been the title sponsor of this competition, supporting startups and small businesses across all sectors as they scale and expand. Startups and scaleups are invited to bring forth innovative solutions that are powered by artificial intelligence (AI) to address pressing global challenges and bring forth positive change.  
 
This year, JUMPSTARTER for One Earth is thrilled to have two esteemed partners: AlphaTrio, serving as our Impact Partner, and the Institute of Sustainability and Technology, joining as our Knowledge Partner. Their respective dedication to sustainable innovation aligns with the principles of this competition, empowering the entrepreneurs with the resources and knowledge necessary to drive meaningful change and contribute to a better future. 
 
Building on the overwhelmingly positive feedback from our previous JUMPSTARTER competitions, the top 30 entries will all once again be eligible and considered for investments of up to US$5 million (approximately HK$39 million). The top 100 will be announced on Dec 23, 2024, before further assessment by a diverse group of judging panels featuring renowned AI experts, venture capitalists, and corporate leaders. The top 30 will be announced on Jan 21, 2025, and will be invited to participate in the finals held in Hong Kong on Mar 26-27, 2025.
 
AI-driven innovations to collectively drive sustainability solutions
 
JUMPSTARTER for One Earth is a global platform that amplifies the transformative impact of AI to drive positive change for all of humanity. As AI continues to rise in importance, so does our shared responsibility to protect and sustain the world. Both are key pillars shaping this competition and a better tomorrow.
 
This year, AEF is calling on tech-based startups and scaleups to harness the power of AI to enhance productivity and create new use cases across a wide range of industry sectors including Art & Entertainment, Building Tech & Construction, Consumer Retail, Climate Tech, Energy, Fintech, Healthcare, Web 3.0, and beyond. These companies must demonstrate a measurable, long-term positive impact on their industry and communities, aligning with one or more United Nations Sustainable Development Goals (SDGs).
 
JUMPSTARTER for One Earth is open to (1) startups that have raised less than US$20 million in funding and (2) a second standalone stream for scaleups with a minimum of US$10 million in valuation to date. To ensure local communities benefit from newly created innovations, participating startups should be able to demonstrate how their solutions impact respective sectors and the wider community. JUMPSTARTER for One Earth welcomes startups and scaleups to develop in Hong Kong and/or adjacent Greater Bay Area cities to continue maturing their innovations within a diverse ecosystem.
 

“In the past year, we have witnessed rapid advancements in artificial intelligence, fundamentally transforming our approach to work and productivity. It will be interesting to see how startups will wield this technology to unlock new solutions and avenues of efficiency,” said Cindy Chow, Executive Director & CEO of Alibaba Hong Kong Entrepreneurs Fund. “Sustainability has also emerged as a shared, critical global concern. This year’s theme, ‘JUMPSTARTER for One Earth’, aims to harness ideas from around the world to unite visionary minds and industry partners addressing the most pressing challenges of our time.”
 
Frank Fang, General Manager, Head of Commercial Banking, Hong Kong and Macau, HSBC said, “In today's dynamic global economy, startups are increasingly recognized as vital engines of innovation, societal progress, and economic development. At HSBC, we proudly continue our strong partnership with the Alibaba Hong Kong Entrepreneur Fund for the sixth consecutive year, offering an essential platform for startups around the world to connect and realize their potential. According to the Global Start-up Ecosystem Report 2023, HK has ranked the second in the world and the first in Asia in the top 100 emerging ecosystems. This competition, which allows budding entrepreneurs to jump start their innovations in Hong Kong, also plays a role in nurturing the city's vibrant startup ecosystem as it transforms into a leading international hub for innovation and technology.”
 
“JUMPSTARTER for One Earth is a platform committed to harnessing technological innovation as the catalyst for sustainable solutions. With no 'Planet B,' it's crucial to empower visionary startups and their founders to drive meaningful change. By bringing together global talent and technology, we can confront the climate crisis and build a more sustainable, resilient future for all,” said Professor Poman Lo, Founding Managing Partner of AlphaTrio Capital, and Founder of Institute of Sustainability and Technology.
 
Since 2015, AEF has invested over US$90 million into over 75 start-ups, attracting co-investment funding of more than US$2.8 billion. Its investment portfolio covers many industries, including biotech, fintech, edu-tech, green and sustainability, medical and healthcare, etc.
           
Mark your calendars for the JUMPSTARTER Ignition Gala on Oct 21, 2024! This exclusive kickstarting event for JUMPSTARTER 2025 offers founders a unique opportunity to mingle and network with like-minded entrepreneurs and investors. Join us for an evening of inspiration, collaboration, and innovation as we ignite the spark for a brighter, more sustainable future. Don’t miss your chance to be part of this transformative journey — register now and take the first step towards making your vision a reality.
 
JUMPSTARTER 2025 is now open for applications. Please visit  https://www.jumpstarter.hk/en/  for more details.