Eligibility & Categories

Eligibility

Any business or organization, whether private or public, from multi-national corporations to SME*, with innovative products, services, technology, practices, processes, etc., is eligible for this Award.

• Private and public companies (Listed and Non-listed companies)
• Trade and professional associations
• Government Bureau / Departments
• Public Bodies
• Non-governmental organizations
• Non-profit and social purpose organizations
• With a total number of employees, including those outside the place of registration, exceeding 100.

• Entries may be submitted under one business or organization or jointly among key partners, and there is no limit on the number of entries by the applicant(s).
• Entries may be submitted under the basis of innovative products/ projects / initiatives / solutions / models that yield sustained outcomes, benefits and impact (the title / project names must be specified n the Entry Form);
• Entries from Hong Kong, the Greater Bay Area, across the Mainland, and overseas are welcomed.

An organization satisfies any two of the following conditions (Company Ordinance):

• Total annual revenue does not exceed HK$100 million;
• Total assets does not exceed HK$100 million;
• No more than 100 employees

Scopes of Innovation

Innovation initiatives under the following five scopes of innovation are eligible to enter the Award. Entrants are requested to choose one area (from the five listed below) that best fits their innovation initiative and to indicate this in the Entry Form.

1. Product & Service Innovation
This category refers to the development of new products or services, or improvement to existing products or services. Examples include (but not limited to):

• New products or services
• Changes in the design of existing products or services
• Adding new features to existing products or services
• Using new materials or components

2. Process Innovation
This category refers to the use of new or improved processes, systems, technology, etc. in the production, organization or delivery process. Examples include (but not limited to):

• Improvement in software, equipment, tools, techniques, etc.
• Change in processes such as research & development, operations, management, production, delivery, supply chain, which raises productivity, quality, experience, etc.

3. Business Model Innovation
This category refers to new approaches or changes to modes of creating, capturing or delivering value to stakeholders of a business unit or the organization as a whole. Examples include (but not limited to):

• Business restructuring / diversification / consolidation
• Distribution channel
• Customer engagement
• User experience
• Profit model

4. Platform Innovation
This category refers to new or improvement to structures, networks or ecosystems which facilitate better connections among B2B, B2C or B2B2C stakeholders. Examples include (but not limited to):

• Product / service marketplace
• Digital Asset / NFT trading platform
• Payment platform
• Trading platform
• Social network

5. Social Impact Innovation
This category refers to new solutions, including new or improved products, services, models, processes, etc., which address social challenges. Examples include (but not limited to):

• Community
• Empowerment
• Environment
• Equality