Technical Seminar – The Opportunities and Challenges of Incubatees in Hong Kong

The Hong Kong Institution of Engineers (HKIE) – MI division, The Institution of Engineering and Technology (IET) and Institution of Mechanical Engineers – Hong Kong Branch, ISE Dept., PolyU and Technology Incubation Network (TIN) co-organized the technical seminar named “Tech Startup – The Opportunities and Challenges of Incubatees in Hong Kong” on 25th Feb 2017.  Before the start of seminar, I took a photo in front of the program flyer.

In the beginning, Prof. Johnny Ng (Chairman, Hong Kong United Youth Association Ltd.) gave a welcoming speech.  He told us the most important elements for startup were Vision, Team and Execution. 

Then all guest speakers took a photo with HKIE representative – Ir. Ritz MH Lau.
(Left: Mr. Kenneth Chau (Chairman, TIN), Ir. Angel Wong (Senior Consultant, HKPC), Ir. Ritz MH Lau (HKIE), I, Mr. Jordan Cheng (CEO Mad Gaze) and Mr. Torin WT Fung (Senior VP, HKAAST))

We received the souvenirs from different organizers.

After presented souvenir, we took a group photo included organizers, speakers and supporting organization representatives.  

I was the first speaker and my topic named “Introduction to Incubation Program and Quality Startup Support in HKSTP”.  Firstly, I briefed our services for Incubatees from Soft Landing to Incubation Program and LEAP Program, as well as, Angel and VC investment networking.

Then I mentioned the benefits to be incubatees in Science Park either our Incu-App, Incu-Tech and Incu-Bio Programmes.  We provided laboratories services, internship arrangement, marketing and networking platform, fund raising opportunities, etc.  

My second part presentation was Quality startup program which was cooperated with HKQAA for their Hong Kong Registration – Start-Ups.  HKSTP was the strategy partner of that scheme and we had signed MoU in 2015 to assist Startup business growth and management skill enhancement.

The second speaker was Mr. Kenneth Chau (Founder & CEO, iMusicTech Limited) and his presentation entitled “The Opportunities of Tech Startups of Launching Crowd Funding (i.e. Kickstarters) in Hong Kong”.  Firstly, he showed a video (from ontv) which introduced his business experience.  He told us the one thing of success was “Proactive”.  Because he wrote a letter to Apple for his idea about iMusic, then Apple support them to be one of their iPhone accessories. However, he met the challenges when iPhone changed the port spec (because of too many stock).  Luckily, Kenneth met some partners in Science Park to help him overcome this risk. 

That’s why Kenneth thought “Kickstarter” could help to avoid over inventory and achieved on-demand manufacturing.  He wrote another letter to the CEO of Kickstarter and explained how they could help Hong Kong startup.  Now Kickstarter established a site for Hong Kong and Singapore, Kenneth was one of administers.  If anyone would like to use this platform, he welcomed to discuss with any people who interested in.

In his Q&A session, one question asked was how to avoid your idea be steal.  He said he learnt from USA that they didn’t afraid their ideas to be steal because they selected to cooperate and make the market big!

Mr. Torin WT Fung (Senior Vice President, Hong Kong Association for the Advancement of Science and Technology (HKAAST)) was the third speaker and his topic entitled “Continuous Learning for Business Startup”. Firstly, Mr. Torin Fung briefed the different between Technology Driven and Market Demand concept from startup. Technology driven separated Innovation and Creation; Market demand separated into three strategies that were Lower price (OEM), Similar price but more features (ODM) and the newest one.

Then he shared four critical factors for business startup included Finance, Innovation, Marketing and Sustainable Business.  He propose the distribution were Marketing ~ 30% Innovation ~ 25%, Sustainable Business ~ 15% and Finance ~ 10%; the remaining 20% would be lucky.

Lastly, he shared two failure cases in the China startups that were Online Service for luxury car maintenance and Cloud funding phone.  The following analysis was from case 1 that technology is low but no marketing, finance and sustainability.  The case 2 was missing all four elements.

The fourth speaker was Mr. Jordan Cheng (Founder & CEO, Mad Gaze) and his topic was “A successful Case Sharing of Local Tech Startup: AR Smart Glass”.  In the beginning, he introduced his experience since graduated from Hong Kong Institute of Vocational Education (IVE) for mobile application and then he taught in IVE.  One day he had idea to establish his company based on student’s question.  He is from 2 staff to 5 staff and then 16 staff (core) and upto now had 80 staff in Hong Kong and 100 in Mainland China.

He explained what different among other IT subcontractors.  They almost provided total solution with guarantee hint rate.  

Finally, Mr. Jordan Cheng explained his product Mad Gaze Smart Glass in which had many different software support and cost for manufacturing much lower than Google Glass.  Their product was recognized by oversea market.

Ir. Angel Wong (Senior Consultant, HKPC) was the last speaker and her topic entitled “Testing and Consulting Services Offered by HKPC to Support Tech Startup in Electronics Products”.  This time, she would like to share the case study – plan for the compliance to regulations during design phase to save project cost and time.

The case was a IOT product but failed in EMC testing.  Therefore, their project budget was increased from HK$700k to HK$820k because of hardware modification, retest and design update.  Moreover, it was also extended the product launch for 2 extra months.  

After that Angel suggested the proper project schedule for design phase as follows:
-          First Prototype: Preliminary check / Design check (test modes / RF settings / spurious emission)
-          Second Prototype: Major changes with modification
-          Third Prototype: Minor updates, submit for certification process (commercial lab)
Finally, pre-test could reduce the total cost from HK$820k to HK$750k.

HKIE-MI Division – http://mi.hkie.org.hk/
20170106: HKIE Seminar on Continuous Education for Career Development in HK Industry - https://qualityalchemist.blogspot.hk/2017/01/hkie-seminar-on-continuous-education.html


CityU Eminence Society AGM 2017

The Annual General Meeting of the CityU Eminence Society was held on 21 Feb 2017.  We reviewed the audited financial statement and elect director/members of executive committee for the 4th Executive Committee.  Ms. Jenny Chan is our immediate past chairlady and Dr. Gary Cheng is our new chairman.  

The meeting photo was taken for memory. 

After the meeting we took a group photo.
(Left: Mr. CK Chan (Director & General Manager, Proficiency Industrial Products Ltd.), I (Manager, Quality System, HKSTP), Ms. Dilys Chau (Partner, Assurance, EY), Dr. Gary Cheng (Managing Director, Gary Cheng CPA Ltd.), Ms. Jenny Chan (Sales Director, Investment Services, KGI Asia Limited), Dr. Peter Ho (CEO, Techworld), Mr. Weeky Wong (Vice Chairman & CEO, Tai Sing Industrial Company Ltd.), Mr. Xavier Wong (Associate Director, ARO, CityU), Mr. William Mak (Partner, Assurance, PricewaterhouseCoopers))

At the end, Ms. Jenny Chan invited all of us to have dinner in CityU.

CityU Eminence Society - http://www.cityues.org/

HKSTP Seminar on Know More about Circular Economy

HKSTP organized a seminar named “Know More about Circular Economy – Benefit Both of Your Company and the Society!” on 21 Feb 2017.  Ms. Catherine Touzard was the guest speaker and she is sustainability and circular economy consultant and teacher serviced in Cirulab.  First, she introduced Cirulab’s network in 12 countries and introduced in Hong Kong since October 1916. 

Then she briefed their mission that “Help companies to renew, innovate and rethink opportunities”.  She used the following diagram to distinct among knowledge, experience and creativity.  

Ms. Catherine Touzard also introduced their set of tools and business games to us. 

After that she introduced the concept from Linear Economy to Circular Economy. She said based on linear economy that “we understand we will have rising issues concerning our raw material supply, but how to avoid it?”

She predicted “we are losing clients for lack of sustainability or social credentials.” And then questioned “threats of new regulations will make our life harder and responsibility higher as manufacturers, but how to anticipate?”  Then she asked us to learn from the nature that “Nature in itself is a perfect economic circle.”

Finally, she introduced the circular economy from raw material to products and then reuse, repair and remake.  So the recycling was the last step and could be skipped if previous steps were effectiveness and efficiency.  The definition from Ellen MacArthur Foundation is “Circular economy is restorative and regenerative by design, and aims to keep products, components and materials at their highest utility and value at all times”.

During Q&A, Kevin Edmunds also shared our science park sustainability performance such as waste recycle system.  

At the end, Ms. Catherine Touzard demonstrated their business game.  

(P.S. My comment is that game seems to modify the Business Model Generation in which added sustainability items for consideration.)


HKSTP Lunch & Learn – Finance for Non-Financial People

HKSTP Lunch & Learn named “Finance for Non-Financial People” was launched on 21 Feb 2017 for acquiring the investment appraisal techniques.  The agenda included “Objective”, “SWOT”, “Operating Plan” and “Financial Model”.

In Objective session, we analyzed “Why”, “When” and “How” as follows:
i)                    Why
-          Evaluate the profitability of an investment to determine if it is worthwhile;
-          Compare different projects to determine which is more valuable
ii)                  When
-          Newly introduced requirement (e.g. Capex or Opex >$500k)
iii)                How
-          Step-by-step guide on preparing procurement request and investment appraisal
-          Demonstrating example

Then 7 key elements of investment appraisal was introduced and they were:
1.      SWOT
2.      Justification / Rationale
3.      Operation Plan – Marketing and Promotion
4.      Operation Plan – Operating model + resources
5.      Operation Plan – KPI
6.      Operation Plan – Milestones + Exit Plan
7.      Financial Model

For SWOT analysis, it demonstrated the Strength, Weakness, Opportunity and Threat as well as Internal & External.

For Operation Plan, they should consider:
i)                    Marketing and Promotion
-          Target customer
-          Sales channel
-          Value propposition
ii)                  Operating Model
-          Partner
-          Outsourced
-          Internal operate
iii)                Incremental resources
-          Expertise
-          Headcount
-          Space
-          Capital
iv)                KPI
-          Quantitative
-          Qualitative
v)                  Milestones
-          Preparation time
-          Start of operation
-          Ramping up
-          Project Review
vi)                Exit strategy
-          Worst case
-          When to exit

Financial model included time frame for evaluation, business drivers and assumptions.

P/L example was mentioned.

Finally, the measuring investment return was explained and they included Cash Impact, Payback Period, Net Present Value (NPV) and Internal Rate of Return (IRR).

HKSTP - http://www.hkstp.org


CityU ARO Seminar on “The Way of Live under the Changing World”

CityU Alumni Relations Office (ARO) arranged a seminar named “The way of live under the Changing World” (「變動世界的生存之道」) in the Eminence Galaxy Alumni Function Room on 17th Feb 2017.  ARO invited Dr. Stan Shih (施振榮), Co-founder and Honorary Chairman of Acer Group and Chairman of Stans Foundation to share his management under the theme “New Era˙Heart of King’s Way” (「新時代˙心王道」).  Prof. Way Kuo and Dr. Stan Shih took a photo before the seminar.

Prof. Way Kuo gave a welcoming speech and introduced Dr. Stan Shih background and his sustainability business management.

Dr. Stan Shih was our guest speaker and he explained what the heart of King Way is. He said King’s Way (王道) is the leadership of organization.  He added King Way is not Overbearing (霸道) but it help to create value for customer and balance interests of stakeholders.

Dr. Stan Shih said King’s Way is the up-to-date management philosophy and strategy thinking. King’s Way is the way of leadership.  He analyzed eastern and western business idea that Eastern was mainly on coexistence but western was winner taken all.  So that he purposed three ways (天道、地道、人道) that were sustainable business, creating value and interest balance.  

Then he introduced the six side values included Explicit (顯性) and Tacit (隱性).  He said not only focused on form, direct and present but should focus on formless, indirect and future.  He also added the thinking of King’s Way was Altruism (利他主義).  

After that Dr. Stan Shih raised that the organization culture and value were most important to sustainable business development and he named it as “King’s Way Culture”.  He shared the King’s Way Method (王道心法) included leadership believe, Strategy Thinking and Creating Value Tactic.  

The following two slides stated the bottleneck of Chinese traditional culture and people blind-spot.

Dr. Stan Shih discussed the smile curve that it should be either focused on R&D (e.g. IP) or focused on Brand & Service.  Both sides are high value-added.  He predicted the vertical division of work / process / value chain would be higher value-added than horizontal integration based on scale and cost effective.  

Finally, Dr. Stan Shih concluded that the winner in Globalization either is the higher effective integration of the best resource in the world or the leader of specific field that was the best choice to be integrated.  And he shared Acer’s three revolution stories to us.  

Q&A session
Dr. Stan Shih discussed the electronic purchasing platform and he said that customer now faced many suppliers during use of platform.  The strategy of platform provider was to create value with all stakeholders.  Now, we faced to platform competition that meant “Ecosystem to Ecosystem” competition.  Dr. Stan Shih said from 0 to 1 needs creativity but from 1 to 2 or 10 which needs professional management for scale up.  

At the end, VP of CityU presented souvenir to Dr. Stan Shih.

CityU ARO - http://www.cityu.edu.hk/aro/main/


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