Established in 1991, CityU Enterprises Limited ("CityUE") aims to support the University to enhance technology transfer and to nurture a culture of entrepreneurship. Its primary objective is to incubate the research outputs of University faculty members and to build up strong links with the business and industrial sectors.
To provide investment funding support to startup companies established by staff, students and/or alumni of City University of Hong Kong (“CityU”) for promoting knowledge transfer and commercialization of research outputs, and for strengthening the University’s culture of innovation and entrepreneurship. One objective is to create a repeatable model for CityU members to innovate in an entrepreneur-friendly environment, while it is also desirable for CityU to participate in the financial success of startup companies.
CityU Enterprises Limited (“CityUE”) will consider co-investment in a CityU startup company, following a lead venture capital (“VC”) or an angel investor, up to an amount of HK$2.5 million in exchange for a maximum of 10% interest of the company, whichever the lower.
CityUE will not serve on the company’s board of directors and will rely on the board member(s) representing the lead VC or angel investor.
CityUE shall follow the existing policy of CityU, which specifies that CityUE should exit from any startup companies within 5 years from the date of investment in the company.
The exit price shall be based on the market price or the latest net asset value of the company, whichever the higher, and the exit terms shall be subject to agreement between CityUE and the company.
A shareholder agreement shall be executed between CityUE and the company at the time of investment to specify the exit arrangements.
The applicant must be a company registered under the HKSAR Companies Ordinance for not more than 5 years as of the date of application.
The team forming the company must consist of at least one key person who is associated with CityU in the following capacity at the time of application:
The team forming the company is required to appoint an executive-in-charge who is not a full-time staff of CityU, to be responsible as the liaison person of the company.
Applications are accepted throughout the year. Interested companies are required to submit, or make available through its lead VC investor, the following information to CityUE for application of the CityU Investment Fund:
Application documents should be sent to the Company Secretary of CityUE by email to CIFund@cityu.edu.hk and by hardcopy to CityU Enterprises Limited, Rm 4340, 4/F, Fong Yun Wah Building, 83 Tat Chee Avenue, Kowloon, Hong Kong.
Each application will be considered and assessed by an evaluation panel appointed by CityUE based on the following selection criteria:
Qualified companies will be recommended to the CityUE Board for approval of investment.
Each company shall provide CityUE quarterly reports and an annual report on the progress of its business together with the financial statements of the company.
If required, CityUE can provide company secretarial and/or accounting services to the company at a fee to be agreed between CityUE and the company.
For enquiries, please contact Ms Agnes Lam, Company Secretary of CityUE (phone: 3442 6784; email: CIFund@cityu.edu.hk)