HKSTP TecONE Investment Series seminar
named “Making Your Business Plan Investor Ready” was organized by Hong Kong
Science & Technology Parks Corporation (HKSTP) with strategic partner “Hong
Kong Business Angel Network” (HKBAN) on 5th July 2017. Since the topic was very useful for startup,
I invited CityU Inno-preneurship startup Mr. Marco So (CEO, Hands Life Science)
to attend the seminar. I was assigned as
CityU Inno-preneurship Mentoring by CityU Knowledge Transfer Office last year. HANDS was funded by CityU Technology Start-up
Support Scheme for Universities (TSSSU) and moved into Science Park two months
ago. There are four founders (BCH graduates)
and we took a photo in front of their office.
(Left: Paul Chi, I, Marco So and
Ronald Tse; Ms. Ada Yeung was not here)
We also took a photo inside their
laboratory. Since I am also their senior
classmate in BCH Dept., CityU, I understood their needs and skill missing. Hopefully, Science Park could provide
necessary service to incubate them to be success in near future.
Then I would like to summarize
the TecONE Seminar below. Ms. Uyen La
Wiget (Rock Bay) was our guest speaker.
Her topic included Key Components of a Business Plan and Practical
Tips.
Key Components of a Business Plan
i)
Audience
She said your
audience is investor not customer. So you sell your story (not product) and
make your story captivity, as well as, answer the concerns of an investor.
ii)
Introduction
Company name and logo
is basic. Tagline is very important and it should have high impact (Don’t make
it generic.) For example, the tagline of
Dropbox is “Securely Share, Sync, and Collaborate”. (Remember to avoid Buzz words!)
iii)
Problem(s) identified
What made you think
of starting your company? Your problem
statement should be clearly list and back up with statistics or research.
iv)
Solution offered
How will you solve
the problems and for whom will you solve them.
She told us to sell your business model with High Level understanding.
v)
Product demo & benefit
Show off your product
which cover 4 to 5 features or less. Is your product easily copied by
others? There is no standard “Yes / No”
answer. It depends on how your explanation
the situation you handled.
vi)
Business Model
It related how to
monetize. The market share could be from
“Total market place & size” to “Segmented market size” down to “Your market
share”. She suggested to use pie chart
for presentation revenue %. What is your
marketing strategy and how you use funding in each stage (e.g. marketing plan
and production plan)?
vii)
Team
Team is the driving
force of company and investor concerns team’s experience level, commitment
level, their mentors and advisors.
viii)
Funding Requirement
You need to know your
plan to use funding and what the next funding round is. Which type of investor
you are looking for?
ix)
Summary
You need to prepare a
statement that shows “Why Me”, “Why Us” and “Why Now”. Some background research should be performed
to support your statement such as marketing trends.
Finally, the guest speaker shared
some practical tips below.
-
add “Confidential and Proprietary” at the bottom left of the business
plan cover page (or. © Name YYYY)
-
Don’t make the plan too long, otherwise, use an appendix.
-
Business plan could be quick skimming within 15 min (included all main
points)
-
Don’t use Jargon
-
Professional “Look & Feel”
After that our colleague
introduced the Elevator Pitch Competition 2017.
I encourage Marco to try and train up his pitching skill.
At the end, Marco got the speaker
contact for further information.
Reference:
HKSTP - http://www.hkstp.org
TecONE - http://tecone.hkstp.org/t1_web/
HKBAN - http://hkban.org/
HANDS - http://www.handsls.com/
20170627: CityU Inno-preneurship
Mentoring Meet-up Event - https://qualityalchemist.blogspot.hk/2017/06/cityu-inno-preneurship-mentoring-meet.html
20161201: CityU Inno-preneurship
Mentoring Scheme Dinner - https://qualityalchemist.blogspot.hk/2016/12/cityu-inno-preneurship-mentoring-scheme.html
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