PHBS-CJBS Global Pitch Competition held

The finals of the 2024 PHBS-CJBS Global Pitch Competition and the PKU-Cambridge GBA Entrepreneurship and VC Forum took place Thursday afternoon at Peking University HSBC Business School (PHBS) in Xili, Nanshan District.

During the finals, 10 startups from home and abroad, in various fields such as AI, new materials and biotechnology, pitched their most innovative technologies to a panel of judges consisting of scholars, investors, and entrepreneurs.

Each team was allotted five minutes to present their business ideas and three minutes for questions from the judging panel. Ultimately, the competition recognized one first-prize winner, three second-prize winners, and six third-prize winners.

The head of the first-prize winner Shanmu (Shenzhen) Biotechnology Co. Ltd. is on the stage. File photos

Shanmu (Shenzhen) Biotechnology Co. Ltd., a startup founded in 2021 in London, the U.K., emerged as the first-prize winner. Shanmu is one of the few AI companies that specialize in “non-perceptible,” “continuous detection” health management. They have developed a fully automated spectral robot, no larger than a mouse, capable of conducting more than 10 quantitative analyses of urine molecules. The company provides digital health management system solutions for individuals and families.

The competition was co-organized by PHBS and the Cambridge Judge Business School (CJBS). The 2024 edition kicked off in January, attracting 506 startup projects. After careful selection by the organizing committee and industry experts, 126 high-quality projects were shortlisted and participated in 14 preliminary roadshows. Ultimately, 36 startup teams advanced to the semi-finals, covering a wide range of industries including artificial intelligence, biomedicine, dual carbon goals for the energy sector, intelligent manufacturing, chips and semiconductors, and new materials. Finally, 10 entrepreneurial teams successfully advanced to the finals.

Professor Hai Wen, founding dean of PHBS, gives his opening remarks on the competition.

Addressing the audience in his opening remarks, Prof. Hai Wen, founding dean of PHBS, acknowledged the important role of the PHBS Center for Innovation and Entrepreneurship (PHBS CIE) in organizing a number of innovation and entrepreneurship events including lectures, forums and competitions that have provided startup teams and entrepreneurs with opportunities to exchange ideas, grow and thrive.

Hai noted that in the future PHBS CIE will deepen cooperation with PHBS UK Campus in innovation and entrepreneurship exchanges and expand collaborations with universities, researchers, students as well as enterprises in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) to cultivate talent and expand the reach of the Global Pitch Competition.

Niyazi Taneri, a professor of Innovation and Operations Management at CJBS, emphasized the crucial role of collaboration in driving innovation. He noted that the partnership between PHBS and CJBS has yielded fruitful results over the years, with a growing influence. Taneri expressed that this collaboration is poised to deepen further in the future. He asserted that innovation is not merely about pursuing economic benefits but also about advancing societal progress. This competition serves not only as a platform to showcase talent and creativity but also as a bridge connecting the two business schools, China and the U.K., and ultimately, the world.

Peter Burnett OBE BBS, chief executive of the China-Britain Business Council (CBBC), said in his speech that CBBC will help to promote the competition by leveraging the strengths and expertise of our members, in a bid to attract diverse talent and innovative ideas that can be nurtured and brought to realization.

Before the finals began, PHBS announced the strategic partnerships with the CBBC and the Hong Kong Trade Development Council (HKTDC) respectively.

According to PHBS, by forging the strategic partnerships with the CBBC, the two sides will strives to foster a vibrant Sino-British innovation ecosystem, facilitating bilateral exchanges and growth, particularly for SMEs and startups; On the other hand, PHBS and HKTDC will collaborate to build the "Shenzhen-Hong Kong Innovation Corridor," facilitating interactions within the innovation ecosystem, supporting Hong Kong enterprises to expand their market and business on the mainland, and assisting mainland projects in achieving global reach through Hong Kong.

Following the finals, two thematic round table forums were held to discuss on the topics such as the new business trends and transformations in the new era as well as the innovative development of enterprises.

Since its launch in 2021, the competition has received over 2,000 project applications from around the world and established strategic partnerships with more than 200 venture capital firms. The projects that advanced to the semifinals in the previous three editions have collectively secured nearly 800 million yuan (US$ 110 million) in post-competition funding, according to PHBS.