The HICOOL Global Entrepreneurship Competition is designed with entrepreneurs and startups in mind, with the aim of establishing a comprehensive international entrepreneurial model.
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Its goal is to identify and support high-quality startups worldwide, fostering their growth and expansion in Beijing. The HICOOL Global Entrepreneurship Competition leverages the expertise of renowned investors, mentors, and entrepreneurs who offer extensive guidance and acceleration to empower entrepreneurs with their startups. Through a holistic approach, it provides essential “Beijing Services” such as talent settlement, children’s education, healthcare, and designated apartments.
Scheduled to take place from January to August 2024, the HICOOL 2024 Global Entrepreneurship Competition will span seven major registration areas globally. Not just that, it also comes with a prize pool exceeding $11 million, comprising 140 awards for startups and 28 Talent Scout Awards for scouts. Participants also have the opportunity to access top investors and corporations.
This competition is a must-attend for ambitious technology startups in their early or growth stages. Offering advantages like investor matchmaking, mentorship, media exposure, and more, the potential for startup success is boundless. Seize this opportunity—submit your application now and propel your startup onto the global stage!
Benefits of the Competition
Participating in the HICOOL Global Entrepreneurship Competition opens doors to a comprehensive set of benefits, propelling startups toward success and global recognition. Some benefits from the competition include:
Lucrative Prize Pool: With an impressive prize pool exceeding USD 11 million, participants have the opportunity to secure substantial funding for their ventures.
First Prizes (7): USD 300,000 (2 Million RMB) each
Second Prizes (21): USD 150,000 (1 Million RMB) each
Third Prizes (42): USD 75,000 (500,000 RMB) each
Additional Winning Prizes (70): USD 30,000 (200,000 RMB) each
Work Permit and Residence Visa: Facilitating participants with essential permits.
Children’s Education: Supporting education for participants’ children.
Networking Opportunities: Engaging with municipal authorities, forums, keynote speeches, and more.
Exhibition and Showcase: Providing a platform for participants to exhibit and showcase their projects.
Exclusive Opportunities for All Participants in the Preliminary Round
Participating in the HICOOL Global Entrepreneur Summit and Entrepreneurship Competition opens doors to a comprehensive set of benefits, propelling startups toward success and global recognition.
- Investor Matchmaking: entrepreneurs can connect with top-tier investors such as GGV, Skysaga, Sequoia, and others.
- PoC Introductions: Forge valuable connections with Fortune 500 companies and leading corporations, including prominent Chinese entities.
- Pitch Training: Entrepreneurs will also Receive dedicated support from the HICOOL team to refine and perfect your pitches for a Chinese audience.
- Mentorship: Benefit from mentorship programs designed to guide and enhance your entrepreneurial journey and startups.
- Visa Support: You can navigate the intricacies of visa requirements with the assistance of the program.
- Company Setup Support: As an entrepreneur, you can receive support for setting up and establishing your company in the relevant market.
- Green-Card Support: You can also explore the possibility of green-card support, subject to meeting specific requirements.
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Basic Entry Requirements for participants of the HICOOL Global Entrepreneurship competition
To be eligible for the competition, all applicants must satisfy the following fundamental entry criteria:
Individual or Team Participation
- Individuals or teams are welcome to participate, with a maximum of three members per team.
- In the case of team participation, members registered in the system can collectively share prize money and enjoy incentive policies related to settling down in Beijing, children’s enrollment, medical treatment, etc.
- Each applicant is allowed to apply for only one project.
Project Incorporation or Intent to start Business in Beijing
- If the project is not registered in Beijing, the applicant must express a clear intention to commence business in Beijing and provide a specific landing plan.
Exclusion of Listed Companies
- The primary entity of the project must not be a listed company, except for enterprises listed on the NEEQ (National Equities Exchange and Quotations).
No Record of Dishonesty or Criminal Offenses
- Every applicant or team member must have a clean record devoid of major dishonesty or criminal offenses.
- Adherence to the laws of the People’s Republic of China is mandatory.
Compliance with Laws and Regulations
- Participating projects should align with the current laws, regulations, industrial policies, or planning in Beijing.
- Projects should possess independent intellectual property rights (free of disputes) or key technologies related to products and technologies, demonstrating innovative and commercial potential.
Tax Obligations upon Winning
- In the event of winning a prize, the individual or all team members must fulfill social security and individual income tax obligations in Beijing before receiving the prize bonus.
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Exclusive Entry Requirements for participants of the HICOOL Global Entrepreneurship competition
For both domestic and international groups, there are specific entry requirements tailored to each category in the HICOOL Global Entrepreneurship Competition. Below are the exclusive entry criteria:
Overseas Group
If you choose the overseas group, these are some exclusive entry requirements you must meet, in addition to the basic entry criteria:
Educational or Professional Overseas Experience
All individuals or team members participating in the project should possess an educational degree obtained overseas or have engaged in study, work, or business overseas for a period exceeding 1 year.
Founder and Shareholding Criteria
- For individual applicants, the person must be the main founder of the startup and the primary natural person shareholder, holding a minimum of 30% of shares in the company.
- In the case of team applicants, the main applicant should be the chief founder of the startup and the initial shareholder of the existing or future landing company.
- All team members are required to hold equity in the existing or prospective company, with each person’s shareholding ratio not falling below 5%. The cumulative shareholding ratio of team members in the startup should be at least 50%.
Startup Registration Timeframe
Startups registered in Beijing between January 1st, 2014, and December 31st, 2023, are eligible to sign up for the overseas group at the growth stage.
Startups registered in Beijing after January 1st, 2024, or those not registered in Beijing yet, should sign up for the overseas group at the maker stage.
Domestic Group
If you opt for the domestic group, you need to fulfill the following exclusive entry requirements in addition to the basic entry criteria:
No Requirement for Overseas Experience
- There is no prerequisite for individual applicants or team members registering for the Domestic Group to have overseas experience. Both applicants, with or without overseas experience, are eligible to apply.
Founder and Shareholding Criteria
- For individual applicants, the person must be the main founder of the startup and the primary natural person shareholder of the existing or future landing company, holding a minimum shareholding ratio of 20%.
- In the case of team applicants, the main applicant should be the chief founders of the startup and the initial natural person shareholders of the existing or future landing company.
- All team members are required to hold equity in the existing or future landing startup, with each person’s shareholding ratio not falling below 5%. The cumulative shareholding ratio of team members should be no less than 30%.
Proposed Schedule for the HICOOL 2024 Global Entrepreneurship Competition
The anticipated timeline for the HICOOL 2024 Global Entrepreneurship Competition is outlined below:
- Application Period: Open from now until April 15, 2024.
- Online Access: Running from April to May.
- Preliminary Round: Scheduled from May to June.
- Semi-finals and Finals: Set to take place in July.
- Award Ceremony: Winners will be announced and awarded in August 2024.
The HICOOL Global Entrepreneur Summit and Entrepreneurship Competition deliver a comprehensive experience for startups, encompassing various facets to foster innovation and success. If you are eager to be part of this transformative competition, kindly follow this link for participation details.
