19 Dec 2023
3rd TERA-Award receives record-high 450 submissions
(19 December 2023) The Hong Kong and China Gas Company Limited announced that the third TERA-Award Smart Energy Innovation Competition has attracted participation from 450 zero-carbon technology entrepreneurial projects from 59 countries and regions worldwide, representing a significant increase of over 60% compared to the previous edition. The enthusiastic response from the scientific community was greatly encouraging, and the Company looks forward to uncovering even more green unicorns in the latest edition of TERA-Award.
The submission period for the latest edition of the TERA-Award competition concluded on 17 December, and it has received a total of 450 projects from 59 countries and regions around the world, representing an increase of over 40% and 60% respectively compared to the previous edition, which had 275 entries from 41 countries and regions. This surge in participation showcases the competition’s diversified nature and reflects its growing international reach. The competing projects came from numerous countries across six continents, including China, the United States, the United Kingdom, India, Singapore, Israel, Finland, Egypt, and more. There are a total of 283 overseas projects, comprising over 60% of the total entries, which is more than double the number of international entries compared to the 2022 competition.
Among the six competition categories, namely “renewable energy”, “energy storage & conversion”, “carbon neutrality”, “hydrogen”, “energy digitalisation”, and the newly added category of “green smart cities”, the category with the most entries is renewable energy”, with a total of 114 submitted projects. Following closely behind are the categories of “energy storage & conversion” and “green smart cities”, with 77 and 74 entries respectively.
Mr Alan Chan Ying-lung, Chief Investment Officer of Towngas, felt encouraged by the increased participation of teams in the TERA-Award competition, seeing it as a testament to the growing international appeal of the event. He expressed his hopes for the upcoming TERA-Award to unearth and nurture even more green unicorns. “TERA-Award stands apart from other competitions. With its focused categories, substantial prize offerings, and abundant application scenarios, it provides valuable support for startup projects to make tangible progress ‘from zero to one’. The competition truly serves as Hong Kong’s foremost incubator for green unicorns.” Mr Chan said.
With the conclusion of the submission period, all participating projects have now entered the judging phase, and the results will be announced in April next year. The judging panel of the competition consists of top experts from domestic and international organisations in industry, academia, and research. They will conduct a comprehensive evaluation of the participating projects based on four major criteria: innovation, commercialisation, talent capability, and implementation, before selecting the winners for various awards in this year’s competition.
TERA-Award is committed to establishing a global entrepreneurial service platform that combines application scenarios, prize money, and investment opportunities. The top winner will claim a grand prize of US$1 million, while all winning teams will gain invaluable opportunities for investment and corporate assistance in realising their projects. They will also engage in fruitful exchanges with esteemed experts, renowned mentors, and prospective investors from diverse domains, guiding their projects towards rapid growth and effective implementation.
Dr Martin Zhu, the founder of i2Cool, the recipient of the 2022 TERA-Award Gold Prize for their “electricity-free cooling technology” project, emphasised that TERA-Award is more than just a competition; it is an outstanding startup ecosystem. Participating in TERA-Award has not only brought i2Cool broader attention and commercial promotion opportunities, but also provided a platform for exchanging ideas with industry experts. Through this platform, they have gained invaluable advice to enhance their business model and fostered strong connections with the industry.
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Press photos:
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The TERA-Award has received a record-breaking number of submissions, with a total of 450 zero-carbon projects from 59 countries and regions worldwide.
For media enquiries, please contact:
The Hong Kong and China Gas Company Limited
Mr Addie Lam
Assistant General Manager –
Corporate Affairs
Tel: 2963 2578 / 6702 6449
Email:
addie.lam@towngas.com |
Ms Kara Kwong
Senior Corporate Communications Officer
Tel: 2963 3497 / 6698 3357
Email:
kara.kwong@towngas.com |