Posted on: Mon Mar 31 2025

The 2025 Hong Kong Web3 Ideathon: Innovations Empowering the City, a dynamic educational initiative co-organized by the Center for Business and Social Analytics (CBSA) at the School of Business and Management of the Hong Kong University of Science and Technology (HKUST Business School), the Investor and Financial Education Council (IFEC), and Cyberport, has concluded with resounding success. The competition highlighted the creative potential of Hong Kong’s tertiary students in the fast-evolving Web3 landscape, drawing participation from 36 teams and over 150 students representing various local institutions.

The event culminated in an exciting final Pitch Fest on March 26 featuring eight finalist teams. Taking first place was USTranscend, a group of first-year students from HKUST Business School, with their project “Cultur3 HK”—a platform leveraging Web3 technologies to preserve Hong Kong’s cultural heritage. By enabling secure donations, minting digital cultural NFTs, and fostering community engagement, the initiative not only supports local NGOs in overcoming funding challenges but also unlocks fresh avenues for revitalizing the city’s tourism sector.

The second place was awarded to PowerPay, a team of engineering students from HKUST, who explored the potential of Web3 applications in the micropayment industry. Meanwhile, bee3, a joint team from CUHK and HKUST, won third place with their vision for a universal anonymous membership ecosystem—a solution that ensures secure identity verification while enabling effective, privacy-conscious marketing, akin to Know Your Customer (KYC) protocols.

As Hong Kong strives to solidify its status as a global Web3 hub, fostering local talent remains essential in nurturing the next generation of industry leaders. Prof. YANG Yi, Director of CBSA, commended the participants’ enthusiasm and talent, and reaffirmed HKUST’s commitment to bridging education and industry through forward-thinking initiatives.

Ir. Eric CHAN, Chief Public Mission Officer at Cyberport, remarked, "The calibre of today’s presentations was truly impressive. It is inspiring to see students actively engaging with Web3’s transformative potential. Cyberport is committed to empowering the blockchain leaders of tomorrow through our extensive network of support programs, including our Web3 Academy, internship programs, and strong industry partnerships. We provide comprehensive support at every step as they build innovative solutions that will shape the future, driving the development of the digital economy."

Ms. Dora LI, General Manager of IFEC, remarked, “The Ideathon not only provides a unique platform for tertiary students to showcase their creative business plan through Web3 innovations, but also underscores the critical role of investor and financial education as they integrate financial management principles into the fabric of Web3. We would like to take this opportunity to thank the Hong Kong University of Science and Technology, Cyberport, schools and teachers, to partner with the IFEC in this meaningful journey to help nurture the next generation of Web3 talents for Hong Kong’s sustainable future.”

In recognition of their innovative solutions with real-world applications, a total cash prize of HK$70,000 was awarded to the winning teams, with top performers also gaining fast-tracked interviews for Cyberport’s entrepreneurship programs. This initiative reflects the organizers’ commitment to nurturing tech and finance innovation, equipping young pioneers with the tools to drive the future of decentralized technologies.

Group photo with all the finalists and representatives from the competition organizers.

The champion team, formed by first-year students from HKUST Business School, Jessie Tianxin CHEN, Mengen ZHENG, Shiya FENG, and Yujing CAI, with Ms. Dora LI, General Manager of IFEC (first right), Prof. YANG Yi, Director of CBSA, (first left) and Ir. Eric CHAN, Chief Public Mission Officer at Cyberport (second left).

Co-organized by HKUST, IFEC and Cyberport, the 2025 Hong Kong Web3 Ideathon has inspired Web3 Innovations among tertiary students

The first runner-up, formed by engineering students from HKUST, Saanvi SHUKLA, Kushaj DWIVEDI, Likithpranai MUKKAMALA, and Antariksh VERMA, with representatives from the competition organizers

The second runner-up, a joint team from CUHK and HKUST, Marco LEE, Norris CHUNG, and Nicola CHU, with representatives from the competition organizers