Eureka Nova

What Eureka Nova does

Eureka Nova is a corporate open innovation platform and multi-cohort accelerator operated by Joy Square Limited, a wholly-owned subsidiary of New World Development Company Limited (NWD), a Hong Kong-listed diversified conglomerate. The platform runs themed accelerator programs (GBA Accelerator, Mizuho Crowd Brain, Smart Retail, Disruptive Business, Impact Kommons) and open competitions (New World Innovation Challenge) that connect technology startups with New World Group business units — including K11 retail malls, 11 SKIES, property development, construction, and facilities management — for pilot and commercialization opportunities. Eureka Nova also hosts an EN Lab sub-brand for additional co-creation initiatives, and operates twin hubs in Hong Kong and Guangzhou targeting the broader Greater Bay Area market.

The underlying technology stack is light: Eureka Nova itself is a program-management and partnership-orchestration platform rather than a software product. Its core value is its distribution capability — providing portfolio startups (over 80 companies across 8 cohorts) with curated access to real corporate customers and assets within the New World Group ecosystem, supplemented by mentorship and business matching with strategic partners including Mizuho Bank, Tencent, WeStart, Alibaba Entrepreneurs Fund, Cyberport, HKSTP, Sony Innovation Fund, Deloitte, and the Research Institute of Tsinghua University in Shenzhen. The company has no proprietary software products, APIs, or patents disclosed.

The business model is corporate-sponsored and event-driven. Programs are offered free of charge to selected startups, with revenue (not publicly disclosed) generated through corporate sponsorship fees from partners such as Mizuho Bank and Tencent, success-based outcomes from startup deployments within NWD operations, and potentially equity-linked arrangements through the Investment Lead function. The customer base is bifurcated: startups are the program participants, while corporate sponsors and NWD business units are the paying/anchoring counterparties. Geographically, Eureka Nova operates across Hong Kong, the Greater Bay Area, and sources startups internationally from the United States, Canada, Australia, and South Korea.

Name

Eureka Nova

Legal name

Joy Square Limited

Website

https://eurekanova.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Startup Accelerator Programs

akta.pro primary industry

Corporate Accelerators & Startup Programs (FSANAHAD)

akta.pro secondary industry

Accelerators & Incubators (Investor-Operated) (FSANAAAM)

Keywords

• Startup accelerator programs
• Open innovation platform
• Corporate venture incubation
• Technology startup programs
• Business matching services

Headquarters

HQ city

Kwun Tong

HQ country

Hong Kong SAR China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel

Revenue model

1. Accelerator Program Operations: Eureka Nova operates accelerator programs that facilitate startup-corporate partnerships. Revenue is generated through program fees, corporate sponsorships, and success-based outcomes from successful startup deployments within the New World Group ecosystem.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Eureka Nova operates themed accelerator programs, open innovation competitions, and sandbox environments that connect technology startups with corporate partners for co-creation, pilot, and commercialization opportunities. Programs include GBA Accelerator (robotics/AI), Mizuho Crowd Brain (fintech/proptech), Smart Retail, Disruptive Business (corporate incubation), and New World Innovation Challenge. The platform has run 8 cohorts supporting 80+ companies, leveraging the New World Group ecosystem of retail malls, property development, and facilities management businesses.

Product overview

Eureka Nova is an open innovation platform and accelerator powered by the New World Group, operating a portfolio of themed accelerator programs and open competitions. The core offering is a multi-cohort accelerator program architecture comprising: GBA Accelerator (robotics/AI, 8-week intensive), Mizuho Crowd Brain (tech-savvy startups, 5-month), Smart Retail (Tencent-partnered, 8-week GBA), Disruptive Business (corporate incubation, 12-month), and New World Innovation Challenge 2021 (open competition). These programs collectively support over 80 companies across 8 cohorts, providing mentorship, business matching with corporate partners, pilot and commercialization opportunities, and access to New World Group's real estate, retail, and property management ecosystem. The programs also serve as a platform connecting startups with global partners including Mizuho Bank, Tencent, WeStart, and others.

Differentiator

Problem solved

Functional benefit

Brands

• GBA Accelerator: Robotics/AI focused Greater Bay Area accelerator programme - an intensive 8-week program for startups looking to scale in the GBA region.
• Mizuho Crowd Brain
• Smart Retail Programme
• Disruptive Business Programme
• New World Innovation Challenge

Products and services

• GBA Accelerator An intensive 8-week robotics and AI-focused accelerator program targeting startups looking to scale across the Greater Bay Area. Startups pilot and commercialize solutions with New World Development businesses, gain access to Grade A office spaces in Hong Kong and Guangzhou, and connect with over 86 million potential users across 11 GBA cities.
• Mizuho Crowd Brain A 5-month accelerator programme co-organized by Mizuho Bank and New World Development, supporting tech-savvy startups (Fin-Tech, Prop-Tech, Food-Tech, Green-Tech, Robotics, Hardware) with mentorship, business matching, VC matching, and demo day opportunities. Multiple cohorts delivered (Cohorts 1 through 5).
• Disruptive Business A 12-month corporate incubation program comprised of a 3-month acceleration workshop and 9-month incubation, helping startups turn ideas into successful and sustainable businesses, backed by New World Group resources and cultural institution support.
• Smart Retail An 8-week Greater Bay Area accelerator programme focused on smart retail technology in partnership with Tencent and WeStart, covering predictive analytics, new production automation, logistics empowerment, and customer experience. Held across Hong Kong, Shenzhen, Guangzhou, and Macau.
• New World Innovation Challenge 2021 An open competition for startups, students, and intrapreneurs to elevate solutions through mentorship, site visits, and problem statements spanning retail, commercial hygiene, and residential property management. Finalists had the chance to pilot and commercialize solutions with New World Group.

Quantifiable outcome

• 80+ companies attended across 8 cohorts
• +2 more outcomes

Named customers16 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability8 records

Partnerships

Ten partnerships are on record, tiered core, major and supporting.

• Mizuho BankcoreStrategic or Co-development Partner · 1 August 2021Mizuho Bank co-organizes the Mizuho Crowd Brain accelerator program with New World Development. This 5-month program supports tech-savvy startups including Fin-Tech, Prop-Tech, Food-Tech, Green-Tech, Robotics and Hardware technologies. The partnership provides startups access to business matching with both Mizuho Bank and New World Development, mentorship from corporate leaders, and continued business matching opportunities post-program.
• TencentcoreStrategic or Co-development PartnerTencent partners with Eureka Nova and WeStart for the Smart Retail - Greater Bay Area Accelerator Programme. The program leverages Tencent's technology and ecosystem for retail innovation, combining Tencent's WeChat ecosystem with New World Group's retail properties.
• WeStartmajorStrategic or Co-development PartnerWeStart co-organizes the Smart Retail accelerator program with Eureka Nova and Tencent, providing startups with ecosystem support and market access in the Greater Bay Area.
• Alibaba Entrepreneurs FundsupportingStrategic or Co-development PartnerSupporting organization for the Mizuho Crowd Brain accelerator program, providing ecosystem support and potential investment opportunities for participating startups.
• CyberportsupportingStrategic or Co-development PartnerSupporting organization providing ecosystem support for Mizuho Crowd Brain accelerator participants, connecting startups with Hong Kong's startup community.
• Hong Kong Science and Technology Parks CorporationsupportingStrategic or Co-development PartnerSupporting organization for accelerator programs, providing infrastructure and ecosystem support for technology startups.
• Research Institute of Tsinghua University in ShenzhensupportingStrategic or Co-development PartnerSupporting organization providing research expertise and university ecosystem connections for participating startups.
• Sony Innovation FundsupportingStrategic or Co-development PartnerSupporting organization providing potential investment and ecosystem support for startups in the accelerator program.
• DeloittesupportingStrategic or Co-development PartnerSupporting organization providing advisory services including accounting, fundraising, and business expansion expertise for program participants.
• New World Development Company LimitedcoreOthersNew World Development Company Limited is the parent company powering Eureka Nova. As part of the New World Group, it provides the corporate ecosystem including K11 retail malls, property development, construction, and facilities management for startup pilots and commercialization.

Scale indicators3 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Techstars: Worldwide accelerator network running 50+ programs annually in partnership with corporations and governments. Comparable as a multi-thematic accelerator offering mentorship-driven cohorts with corporate pilot opportunities.
• Brinc: Hong Kong-headquartered global accelerator and venture firm running programs in IoT, hardware, cleantech, food, and Web3. Directly comparable as an Asia-focused accelerator operating multiple thematic cohorts and connecting startups with corporate partners.
• SOSV: Multi-stage venture fund operating vertical-specific accelerator programs (HAX for hardware, IndieBio for biotech, Chinaccelerator for China/GBA). Comparable to Eureka Nova's vertical thematic approach and GBA regional focus.
• Y Combinator: The world's most prominent startup accelerator, running twice-yearly cohorts and providing seed funding, mentorship, and demo day exposure. Directly comparable as a generalist accelerator targeting early-stage technology startups, although YC is independent rather than corporate-backed.
• WeStart: Co-organizer of Eureka Nova's Smart Retail GBA program alongside Tencent, providing ecosystem support and market access for Greater Bay Area startups. Directly comparable as a co-branded accelerator platform operating in the same GBA retail-innovation space.
• Plug and Play: Global innovation platform and corporate-backed accelerator operating vertical-specific programs with enterprise partners across fintech, retail, real estate, and brand & retail. Closely comparable to Eureka Nova in its corporate-partnership-driven model and industry-vertical cohort structure.
• 500 Global (formerly 500 Startups): Global venture firm and accelerator running seed programs across multiple geographies with a strong emerging-markets franchise. Comparable to Eureka Nova in its global cohort model and emerging-market startup sourcing.

Broad incumbents

• New World Development Company Limited: Parent conglomerate and primary corporate backer of Eureka Nova, with diversified operations in real estate, retail (K11), construction, and infrastructure. Comparable as the broader incumbent ecosystem within which Eureka Nova operates its accelerator programs.

Regional players

• Cyberport: Hong Kong government-backed digital technology hub and incubator offering funding, office space, and acceleration programs. Listed as a supporting organization for Eureka Nova's Mizuho Crowd Brain program; comparable as a Hong Kong–based startup support platform.
• Hong Kong Science and Technology Parks Corporation (HKSTP): Statutory body operating Hong Kong's Science Park and InnoCentre with incubation and acceleration programs for technology startups. Listed as a supporting organization for Eureka Nova's accelerator programs; comparable as a regional Hong Kong innovation platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Facebookfacebook.com/eurekanovahk
• Instagraminstagram.com/eurekanovahk

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Eureka Nova