HKIBI Seminar on “Development of Business Innovation Talent in Hong Kong”

The Hong Kong Institute of Business Innovation (HKIBI) organized a seminar named “Development of Business Innovation Talent in Hong Kong” in CityU on 11th Nov 2017.  Before the seminar, I took a photo with Mr. David T.W. Chung (Principal Consultant, InnoEdge Consulting Ltd.) for memory. 

In the beginning, Mr. David Chung introduced the vision, mission and values of HKIBI (香港商業創新學會) which was non-profit making organization.

Vision: To transfer Hong Kong to be Business Metropolis full of creativity and innovation

Mission: To promote multi-dimension innovative thinking and help individuals to practice their business ideas

Values: Knowledge Sharing, Resource Cooperation and Global Perspective

Then he briefed HKIBI history that formed Facebook page since Aug 2015 and then business registration in Aug 2016. In 2018, one of their major events is “Asia Innovation Talent Development Conference”.  Finally, David said another major task was certified innovation talent project.

The first speaker was Mr. Donny Siu (Associate Director, Entrepreneurship Center, HKUST) and his shared topic named “How to establish your career through innovation”.  Before he joined HKUST, he worked in investment bank but he lost his passion.  When he joined HKUST, he found that innovation is DNA in the university.  His boss told him that there were rules but they had flexibility.  He quoted two projects as examples.  The first project was to create co-working space in the university but only 1500 sqft.  He tried to communicate with different departments and stakeholders to use all corridors areas and lobby, as well as near lifts area. At the end, the project completed successfully with excellence results which used the same budget.  The second project was encouraging student to run coffee shop in this co-working area by themselves and also succeed.  He said innovative people needed open mind to help themselves and others.

Mr. David T.W. Chung (Principal Consultant, InnoEdge Consulting Ltd.) was the second speaker and his presentation title named “Breakthrough the Adverse Market via Subvert Thinking”. Before the talk, David asked us to do a short exercise to explain how to make “1 dollar x 1 dollar” becomes to “ten dollar”.  Then he explained innovation was separated into Business Innovation and Technology Innovation.  Technology Innovation needs more time and resource that may not be suitable by SMEs.  On the other hand, Business Innovation could use the existing core product or technology in the company but enhancing customer feeling (emotionally connected) to improve their business performance. 

Then David quoted Prof. Mohanbir Sawhey (Kellogg School of Management, Northwestern University) 12 dimensions of business innovation with respect to its (1) offerings, (2) platform, (3) solutions, (4) customers, (5) customer experience, (6) value capture, (7) processes, (8) organization, (9) supply chain, (10) presence, (11) networking, and (12) brand.  David separated them into two sessions and they were customer view and enterprise view. 

After that David shared three cases which employed business innovation.  Those cases were belong to different layer of the Maslow’s Hierarchy of needs (Physiological → Safety → Love/Belonging → Esteem → Self-actualization).  The first case was “molala” company which help boy to express sorry and enlighten their girlfriend that belongs to Love/Belonging layer. The second case was photo taken with black people in mobile that company named “Tecno (傳音)”.  They solved the selfie by black people that they became the number in the Africa market. So that it was in the layer of “Esteem”.  

The last case was smart home application “a hologram girlfriend for only hearts” that employed all existing technology such as AI, lighting, air-conditioner controller, remote and pre-setting, etc.  It is belong to the highest layer “Self-actualization”.

Dr. Keith Chau (Programme Director (Institute for Entrepreneurship) of PolyU) was the last speaker and he shared topic was “Little Thing but Not Simple”.  He also said his “1:99 concept” that “You earn 99 dollars and I only earn 1 dollar”.  Dr. Chau explained if I found 100 projects that you earned max 99 dollars but I earned 100 dollars.  He explained the entrepreneurship should be B2B (Back to the Basic) that you needed to find your original mean and where your passion is. 

Panel discussion: 

David was the coordinator of the panel.

Mr. Donny Siu said we needed to provide space, opportunity, selection, flexibility, encouraging open mind, etc.

Mr. Oliver Ka-Ming Wan (Chairman, HKIBI) said thinking about business model and loose hand to young people and help them to establish self-trust.

Mr. Joseph Ho (President, The Cosmetic & Perfumery Association of HK) mentioned that he changed the behavior of his association that members were in the frontline and President served them that encourage to take ownership.

Dr. Keith Chau said we needed to be Role Model to incubate other young people.

Last question was about the development of innovative talent.

Mr. Donny Siu said people needed to accept challenge works.

Mr. Olive Wan invited all talent to join the activities of HKIBI.

Mr. Joseph Ho said to consider the opportunity cost and loose hand to youth.

Dr. Keith Chau told us ASAP “As simple as possible” and passion to success.

Reference:

HKIBI - http://www.hkibi.org/

Mohanbir Sawhey (2006) “The 12 Different Ways for Companies to Innovate”, MITSloan Management Review - http://sloanreview.mit.edu/article/the-different-ways-for-companies-to-innovate/

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