Updated: Aug 16, 2019
Within the Greater Bay Area, a new Smart Retail supernova has been born.
About 400 industry leaders from New World Group, Tencent, and various smart retail startups gathered in Shenzhen to organize the Smart Retail Incubation Programme for the Greater Bay Area Demo Day & Supernova Award.
Eureka Nova, the startup incubator founded by New World Group; Tencent Smart Retail; Tencent Ads; and Tencent WeStart jointly organized the Smart Retail Incubation Programme to bring out the very best of the thriving startup ecosystem in the Greater Bay Area. The Smart Retail Incubation Programme mentored 15 promising smart retail startups in the development of their technology-based business ideas. These startups then showcased their innovative plans for the attending audience of the Greater Bay Area Demo Day in the hopes of winning the much-coveted Supernova Award.
Ms. Doris Luey, Head of Social Innovations at New World Development, well illustrates the purpose behind the establishment of an incubation programme for the Greater Bay Area.
"This time, the incubation programme picked out 15 promising startups from a pool of about 200 companies. These startups then spent much time to hone their services and products into the best version possible to showcase to the audience. New World Group and Tencent have opened up new networks for the startups through the incubation programme, offering a real-life battlefield for business integration, and a gateway to reach out to the larger market in the Greater Bay Area."
Ms. Cecelia Tian, Associate General Manager of Tencent Smart Retail, elucidated Tencent Smart Retail's plans to drive innovation among startups in the Greater Bay Area, along with her hopes for the future of the startup ecosystem.
"The contents showcased by the finalists today are rich and varied, giving us a glimpse into a bright future. I'd like to share a quote that's a personal favorite of mine: The digitization of the retail industry is the glory and dream of an era. We hope more and more allies will join Tencent in this cause and together push the digitization of the retail industry to greater heights."
The 15 selected incubatees focused on business plans revolved around pushing the limits of smart retail, including in-store marketing campaigns and engaging VR and AR applications in the realms of lifestyle, fashion, and interior design.
It was Shenzhen Vision Intelligent Co. Ltd. that was awarded the Supernova Award for their interactive smart shelving solution that combines interactive screens with facial and gesture recognition technology. Their next-generation smart product shelves are designed to convert gathered data into increased sales by displaying related promotional messages and employing upselling tactics based on observed customer preferences.
Shenzhen Coolhobo, a company that primarily focuses on AR mobile device retail platform development, came in second. In third place was Shenzhen ConfigReality with VR technology that focuses on how to make small physical spaces appear significantly larger. Shenzhen Coolhobo and Shenzhen ConfigReality together won over 20,000 dollars in cash prizes and amassed critical feedback from a wide variety of experts in various professional fields.
During the Smart Retail Incubation Programme, a round table forum called "Surpassing Boundaries - How can Startups and Enterprise Seize the Opportunities of
the Greater Bay Area" was also held. At the round table, participants discussed how startups could take the initiative to seize business development opportunities, seek out leadership roles, and contribute to a healthier startup ecosystem.
Since the launch of the incubator recruitment in August 2018, the Smart Retail Incubation Programme for the Greater Bay Area has received nearly 200 applications from startups. Throughout the programme, the 15 selected incubatees have been able to establish necessary business connections, develop ideas for technology integrations, and explore opportunities with corporations.
Eureka Nova, built by Mr. Adrian Cheng, Executive Vice-Chairman and General Manager of New World Development, continues to drive impetus into the startup ecosystem through New World Group's spirit of blending old and new ideas in the realm of smart retail.
Eureka Nova is committed to making our mark in the Hong Kong startup ecosystem by helping to make the city a hub for incubation of disruptive technology and innovation.
Founder, Eureka Nova