Tencent and New World Development Join Hands To Extend Eureka Nova Startup Selection To The Greater Bay Area

Programme Aims To Nurture Smart Retail Business Ventures

【October 10, 2018】 In collaboration for the first time with Tencent Smart Retail and Tencent WeStart, Eureka Nova – a startup incubator founded by New World Development (New World Group) to stimulate innovative business concepts and entrepreneurship among young people – will extend the programme to the Greater Bay Area under the theme of “smart retail”. The programme aims to encourage businesses that optimize customer experience through new technologies, boost merchandisers’ operation efficiency, and reshape consumers’ shopping habits.

Eureka Nova has provided support for over 60 startups since its inception last year. This year, New World Group will team up with Tencent, an internet-based technology and cultural enterprise, to extend the startup selection to the Greater Bay Area, nurturing young startups in a wider region.

New World Group and Tencent have always been pioneers in the business of smart retail. Tencent’s Smart Retail initiative offers digital solutions for enterprises to open up smart retail business opportunities, such as the WeChat Pay. Meanwhile, New World Group’s K11 Art Mall is the strategic partner of the AI Solutions Provider, Aibee, to further explore its smart retail business opportunities. Participants in this programme will have an opportunity to cooperate with both New World Group and Tencent, and to expandtheir businesses into the mainland and overseas markets.

Help young entrepreneurs seize the Greater Bay Area market

Combining consumers’ big data with OTO retail points has become the new trend in the industry, according to Doris Luey, Head of Social Innovation of New World Development Company Limited. The collaboration with Tencent aims to encourage young entrepreneurs to make the best of opportunities in the Greater Bay Area, a young and affluent region with a population of 70 million. Selected incubatees will have the opportunity to expand their businesses to the mainland and overseas markets, and to explore the infinite possibilities of this dynamic area.

Incubation programme starting in Q12019

A judging panel comprised of industry leaders and representatives from New World Group and Tencent will select incubatees based on a set of criteria including innovation, uniqueness, feasibility, and teamwork. Selected incubatees will be enrolled in a comprehensive training to be held in the first quarter of 2019. The programme will include sharing sessions and workshops conducted by industry practitioners and experts in the field. During the incubating and training process, incubatees will learn about how to make use of Tencent’s online and offline smart tools, and explore business opportunities related to WeChat Pay and WeChat Mini Programme. The programme will also serve as a networking platform where incubatees will be introduced to different business partners and industry elites.

Connect with Corporate Leaders on “Demo Day”

Towards the end of the training programme, incubatees will have a chance to showcase their business ideas on the “Demo Day”. Appraisers will include corporate group leaders, industry elites, investors, and retail giants. Once selected, incubatees will have the opportunity to establish a long-term collaboration with the industry and corporate leaders.

The programme is now open for applications, with a submission deadline of November 11, 2018. More information can be found at https://wj.qq.com/s/2240023/536a, on the Eureka Nova Facebook page, and in the Eureka Nova WeChat account.

Eureka Nova X Tencent Smart Retail X Tencent WeStart Guangdong-Hong Kong-Macao Bay Area Startup Incubation Program Overview

Theme Smart retail
Eligibility Less than 3 years of startup experience in the Greater Bay Area

With at least 2 fulltime partners

Details –          Timeline: First quarter of 2019

–          Corporate group leaders and elites of the industry as coaches

–          Trainings including workshops and sharing sessions

–          Opportunity to work with leading corporates

Selection Criteria Innovation, uniqueness, feasibility, and teamwork
Application Deadline November 11, 2018
Commencement Date First quarter of 2019


About New World Development Company Limited:

Founded in 1970, New World Development Company Limited (“the Group”, Hong Kong stock code: 0017) was publicly listed in Hong Kong in 1972 and is a constituent stock of the Hong Kong Hang Seng Index. A premium brand infused with a unique personality defined by The Artisanal Movement, New World Group’s core business areas include property development, property investment, infrastructure and services, department stores and hotels. As at 31 December 2017, the total asset value of the Group amounted to HK$468.1 billion. The Group has an effective interest of approximately 61% in NWS Holdings Limited (Hong Kong stock code: 0659), approximately 75% in New World Department Store China Limited (Hong Kong stock code: 0825) and wholly owned New World China Land Limited.

About Tencent Holdings Limited:

Tencent uses technology to enrich the lives of Internet users. Our social products Weixin and QQ link our users to a rich digital content catalogue including games, video, music and books. Our proprietary targeting technology helps advertisers reach out to hundreds of millions of consumers in China. Our infrastructure services including payment, security, cloud and artificial intelligence create differentiated offerings and support our partners’ business growth. Tencent invests heavily in people and innovation, enabling us to evolve with the Internet. Tencent was founded in Shenzhen, China, in 1998. Shares of Tencent (00700.hk) are traded on the Main Board of the Stock Exchange of Hong Kong.