I received invitation from CUBIC for Seminar on Innovation and Entrepreneurship in HKSTP held on 7th Feb 2018. It aimed to introduce Mainland China policy on Startup such as funding, competition and tax. In the beginning, Ms. Dawn Chui (Head of business development, HKSTP) gave welcome speech. She briefed the coming events with Ministry of Science and Technology (科技部) included National Incubator, Co-working space and HKSTP Alliance Summit, etc.
After that Ms. Lai (HKSTP) briefed the China Innovation & Entrepreneurship Competition – HKSAR & Macau. The application requirements were separated into seven industries area with three types of competition included enterprise, team and student.
The topics of competition gave by government, the park and industry. The awards were fruitful included certificate, prize, subsidy, etc.
Mr. Leon Yan (閆如勝) (深圳科創互通有限公司) was the first guest speaker and his topic named “Government Subsidy Policy Training”.
Firstly, he introduced different sources of government subsidy in China.
The technology funding source and application were mentioned. There were separated from Central Government and Local Government. Moreover, Five National Technology Plans were briefed as follows.
Finally, Mr. Yan summarized subsidy policies of China in the following diagram.
At the end, he shared his personal experience to us.
After tea break, HKSTP colleague Ms. Wong briefed the Mainland China and Hong Kong co-working space.
The co-working space was from China’s Innovation & Entrepreneurship Policy. It included co-working space, incubator, incubation program, makerspace and Soft Landing Center. There were four locations in China for co-working space with HKSTP.
The second guest speaker was Ms. Kwan (關思凡) (深圳科創互通有限公司) and her topic entitled “How to prepare a good business plan to attract investor”.
Firstly, she mentioned different financing strategies under different stages of company.
Then she briefed the process of investment in enterprise included Initial Contract, Screening, Prior Due Diligence, Term Sheet, Due Diligence, Valuation, Negotiation, Valuation, Approval, Portfolio Management and Exit.
After that she mentioned that Business Plan (BP) is a knocking brick for investment. There had eight core blocks should be considered and they were “Need”, “Market”, “Operation”, “Team”, “Product”, “Competition”, “Plan” and “Financing”.
At the end, she shared the executive summary that the most important was “Lighting point” so as to attract investor in their first eyes.