TERA-Award Company Limited

What TERA-Award Company Limited does

TERA-Award Company Limited operates the TERA-Award Smart Energy Innovation Competition, a Hong Kong-headquartered, global competition-and-acceleration platform founded in 2021 by Dr. Peter Lee Ka-kit and organized by Full Vision Capital. The platform runs an annual competition across six technology scopes — Green Fuels & Hydrogen Energy, Next-Generation Energy, Energy Storage & Conversion, AI × Energy, Energy Saving & CCUS, and Smart Energy System — plus a Smart Home Special Track introduced in 2026. It awards cash prizes (no equity taken) up to US$1 million for the Gold Award, with a US$1.15 million total prize pool for the 2026 edition and US$4.65 million awarded cumulatively since launch.

The competition has built a participant ecosystem of nearly 2,000 projects from 76 countries and a community of 1,700+ startups across 170+ countries, underpinned by institutional partnerships with UNCTAD, the University of Cambridge Institute for Sustainability Leadership (CISL), InvestHK, HKIC, IDG Capital, Bain & Company, Kerogen Capital, and several leading universities. Distribution is primarily through a self-serve online application portal on tera-award.com (available in English, Traditional Chinese, and Simplified Chinese) supplemented by global roadshows in the UK, Europe, Singapore, Beijing, and Shenzhen.

The business model is organized as a not-for-profit competition initiative: cash prizes flow outward to winners while operational funding originates from Full Vision Capital and partner sponsors. There are no application or participation fees. Revenue is not publicly disclosed and the company should be understood as a capital-funded platform rather than a commercially revenue-generating enterprise, with its economic value captured indirectly through investment facilitation, ecosystem positioning, and brand association rather than top-line revenue.

Name

TERA-Award Company Limited

Legal name

TERA-Award Company Limited

Website

https://tera-award.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

TERA-Award Company Limited operates the TERA-Award Smart Energy Innovation Competition, a Hong Kong-based global competition platform founded in 2021 that awards up to US$1 million in cash prizes to energy technology startups and research teams across 76+ countries, organized by Full Vision Capital.

Ownership category

akta.pro rank

Headquarters

HQ city

Hong Kong

HQ country

Hong Kong SAR China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Others, Marketing or Sales, Personnel, Operations, Technology or R&D

Revenue model

1. Innovation Acceleration Services: TERA-Award Company Limited provides innovation acceleration services through its competition platform. Revenue is derived from organizing and hosting the TERA-Award competition, which offers prize funding (cash prizes without equity dilution), incubation support, and strategic partnerships to winning and participating startups. The platform operates as a not-for-profit initiative organized by Full Vision Capital, with the primary value delivered through prize funding, investment facilitation, and ecosystem connections rather than commercial revenue generation.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels7 records

Core offering

TERA-Award Company Limited operates the TERA-Award, an international smart energy innovation competition that awards cash prizes (up to US$1 million for the Gold Award) to early-stage energy technology startups and research teams. The competition is organized around six technology scopes plus a Smart Home Special Track and is supported by an incubation ecosystem providing R&D support, proof-of-concept validation, supply chain design, manufacturing optimization, investment facilitation, and connections to industrial partners across 76+ countries. There is no fee to apply and prizes are awarded without equity dilution.

Product overview

TERA-Award is an international smart energy innovation competition platform and acceleration ecosystem organized by Full Vision Capital. Founded in 2021 by Dr. Peter Lee Ka-kit, it operates as a global competition with six core technology tracks (Green Fuels & Hydrogen Energy, Next-Generation Energy, Energy Storage & Conversion, AI × Energy, Energy Saving & CCUS, and Smart Energy System) plus a Smart Home Special Track. The platform provides prize funding up to US$1 million for Gold Award winners, along with incubation support, strategic investment connections, and access to global innovation networks spanning 76+ countries. The competition connects energy technology innovators with investors, industry partners, and real-world application scenarios to accelerate commercialization of breakthrough technologies.

Differentiator

Problem solved

Functional benefit

Products and services

• TERA-Award Smart Energy Innovation Competition
• TERA-Award Incubation Ecosystem
• Smart Home Special Track

Quantifiable outcome

• Nearly 2,000 projects from 76 countries and regions attracted since inception, with US$4.65 million in total prize funding awarded
• +3 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Partnerships

17 partnerships are on record, tiered core, major and minor.

• United Nations Trade and Development (UNCTAD)coreStrategic or Co-development Partner · 2 March 2026UNCTAD serves as a strategic supporting institution for TERA-Award 2026, deploying its global policy expertise and cross-regional industrial networks to support the programme. The collaboration aims to more effectively link innovative outcomes from the programme to specific markets and application scenarios, accelerating international deployment and large-scale adoption of breakthrough energy technologies.
• University of Cambridge Institute for Sustainability Leadership (CISL)coreStrategic or Co-development Partner · 2 March 2026CISL contributes world-leading research capabilities in climate and energy innovation, enhancing the depth and rigour of the award programme's evaluation framework. The institute's participation helps identify projects that combine scientific excellence with strong potential for commercialisation. CISL co-hosts the UK Roadshow and contributes to the innovation forum and award ceremonies.
• InvestHK (Hong Kong Investment Promotion)coreGTM or Marketing PartnerInvestHK serves as a strategic partner for TERA-Award, supporting the programme's global promotion and helping connect international energy ecosystems with the award's growing international impact. InvestHK helps innovators scale, commercialize, and reach broader markets across Asia and beyond.
• Bain & CompanymajorStrategic or Co-development PartnerBain & Company is listed as a strategic partner of TERA-Award, providing industry expertise and strategic consulting support to the ecosystem.
• City University of Hong KongmajorStrategic or Co-development PartnerCity University of Hong Kong is listed as an academic partner of TERA-Award, contributing research expertise and university ecosystem connections.
• Hong Kong University of Science and Technology (HKUST)majorStrategic or Co-development PartnerHKUST is listed as an academic partner of TERA-Award, contributing research expertise and university ecosystem connections.
• The University of Hong Kong (HKU)majorStrategic or Co-development PartnerHKU is listed as an academic partner of TERA-Award, contributing research expertise and university ecosystem connections.
• The Chinese University of Hong Kong (CUHK)majorStrategic or Co-development PartnerCUHK is listed as an academic partner of TERA-Award, contributing research expertise and university ecosystem connections.
• Tsinghua UniversitymajorStrategic or Co-development PartnerTsinghua University is listed as an academic partner of TERA-Award, contributing research expertise and university ecosystem connections.
• Hong Kong Academy of SciencesmajorStrategic or Co-development PartnerHong Kong Academy of Sciences is listed as an academic partner of TERA-Award, contributing research expertise and scientific ecosystem connections.
• New Energy NexusmajorGTM or Marketing PartnerNew Energy Nexus is a supporting organization and event co-host for TERA-Award, providing programme support for global online introduction seminars and helping foster innovation in the energy sector.
• YanVenturesmajorGTM or Marketing PartnerYanVentures co-hosts the TERA-Award Beijing Session on AI × Energy and provides startup ecosystem support, contributing to the programme's expansion in China's innovation community.
• DayDayUpminorGTM or Marketing PartnerDayDayUp co-hosted the TERA-Award Singapore Forum on 'Energising Innovation in Singapore — Building a Smarter Energy Ecosystem' at IMDA PIXEL, contributing to regional ecosystem building.
• CyberportminorStrategic or Co-development PartnerCyberport is listed as a supporting organization for TERA-Award, contributing Hong Kong's digital technology and innovation ecosystem resources.
• Hong Kong Science and Technology Parks Corporation (HKSTP)minorStrategic or Co-development PartnerHKSTP is listed as a supporting organization for TERA-Award, contributing technology park infrastructure and startup support resources.
• UK Department for Business and TrademinorGTM or Marketing PartnerUK Department for Business and Trade is a supporting partner for TERA-Award, reflecting growing UK commitment to accelerate deep-tech energy innovation and international collaboration.
• BrincminorStrategic or Co-development PartnerBrinc is listed as a supporting organization for TERA-Award, contributing startup accelerator ecosystem expertise and resources.

Scale indicators6 records

Recent moves5 records

Expansion highlights6 records

Emerging players

• New Energy Nexus: Global clean-energy startup support organisation running accelerators and ecosystem programs across Asia, Africa, and the Americas. Functions as a peer competitor in the energy-startup acceleration space and is already a TERA-Award ecosystem partner, blurring competitor/collaborator lines.
• Elemental Excelerator: US-based non-profit accelerator funding and deploying climate infrastructure startups with pilot-project support. Comparable as an energy innovation acceleration platform, though more focused on deployment-stage funding than prizes; relevant adjacent competitor for TERA-Award alumni seeking commercialisation.

Direct peers

• Zayed Sustainability Prize: UAE-based annual sustainability prize (US$600K per category) covering energy, health, food, water, and climate action. Comparable to TERA-Award in global scope, category-based structure, and category-leading prize economics in the sustainability innovation space.
• XPRIZE Foundation: Global innovation competition operator running multi-million-dollar prizes across energy, climate, and other frontiers. Most direct comparable to TERA-Award's model of large cash prizes, global applicant base, and category-based competition structure.
• Ray of Hope Prize (Ørsted): Ørsted's global competition awarding up to €50K for early-stage sustainable energy innovations. Comparable as a corporate-backed energy innovation prize targeting startups with breakthrough technology and global applicant base.
• Earthshot Prize: Royal Foundation-backed global prize awarding US$1M across five climate/environmental categories annually to scaling innovators. Directly comparable to TERA-Award's US$1M single-prize structure and global climate/energy focus.
• Free Electrons: Global energy-startup accelerator program run by major utilities (EDP, ESB, CPFL, Origine, etc.) connecting startups to pilots and investment. Comparable in targeting early-stage energy startups globally and providing post-award commercialisation pathways rather than equity-only awards.
• Ashden Awards: UK-based climate and energy innovation awards organisation running annual prizes and accelerator programs for clean-energy startups globally. Closely comparable in energy-technology focus, UK partnership footprint, and non-dilutive prize model.
• Keeling Curve Prize: Annual climate-solutions prize awarding US$25K per category across carbon reduction, energy, and sequestration. Comparable as a category-structured global prize targeting climate and energy innovation with similar non-dilutive cash structure.

Broad incumbents

• Breakthrough Energy Ventures: Bill Gates-backed US$1B+ deep-tech climate investment fund with fellowship and venture programs for frontier energy innovators. Not a competition peer but the dominant capital destination for the same founder/research talent TERA-Award attracts, making it a key ecosystem counterparty and competitor for applicant mindshare.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/tera-award

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 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 TERA-Award Company Limited