CityU KTO – AUTM Virtual Course “Startup Business Development” – Class 2

The 4-day AUTM virtual introductory course on Startup Business Development is organized by the Knowledge Transfer Office of City University of Hong Kong, HKSAR Intellectual Property Department and the Institute for Entrepreneurship of The Hong Kong Polytechnic University.  The class 2 was held on 10 Dec 2020. Beginning, Prof. Barbara Gunderson (Prof. Dev. Director) introduced the course and speakers.The speakers in the class 2 were Mr. Paul J. Corson (Deputy Director and Sr. Director for Entrepreneurship at the University of Utah’s PIVOT Center) and Professor Keith Marmer (Chief Innovation & Economic Engagement Officer, University of Utah).

Mr. Paul J. Corson presented the first part for Team formation and he said investors were looking for Team, Market/Market Opportunity and Technology.  Then he described some elements of Teams including Entrepreneurs, Technicians, Operators, and Supporting Cast.

He explained that Entrepreneurs could make people exciting and inspiration. Moreover, he is not necessary to be technical person.  Technicians are technical person who actually understand and work with technology.  After that he discussed the poll result with us that most people feel that Hong Kong had some role models and success stories but not enough to encourage entrepreneurship

Finally, he said Operators like interpreter to translate vision and mission into Actions that push everything forward.  Supporting Cast was also discussed that included Corporate Board, Scientific Advisors, Managers, Mentors, etc.  During the discussion, a log of time employed to the forming team for discussing the options.

In the second part, Prof. Keith Marmer discussed about “Funding a Company”.  He mentioned different types of investors and their nature. 

Then Prof. Marmer briefed the portion of funders and investors in different stage of startup and their value creation.

After that he also mentioned Technology Startup and compared 20th Century and 21st Century Tech Startup. The key different of them is to build a minimum viable product (MVP) rather than to build entire product so as to Iterate and Pivot the final product.

Finally, he discussed “Market / Market Opportunity” that we needed to understand the market and how big the market is, as well as how a company gets paid (i.e. ROI). For Technology, he discussed about Stage of development, IP protection and Competition. It should consider more specific claim and identify where technology fit global environment.  The second Poll results showed that funding for startup could do better and the order of importance to investors were “Market Opportunity”, “Management Team” and “Technology”.

Lastly, Prof. Marmer showed the survey about key contributing factors to HK startup from KPMG in 2019.

At the end, he told us to consider some Tech Transfer’s Perspective based on the topics we discussed in todays’ class.

Reference:

AUTM - https://autm.net/

KTO course - https://www.cityu.edu.hk/kto/index.aspx?id=PG-1200052&event_id=EV-2000025

Knowledge Transfer Office (KTO) - http://www.cityu.edu.hk/kto/

AUTM Virtual Course 2020:

20201208: CityU KTO – AUTM Virtual Course “Startup Business Development” – Class 1 - https://qualityalchemist.blogspot.com/2020/12/cityu-kto-autm-virtual-course-startup.html

20201210: CityU KTO – AUTM Virtual Course “Startup Business Development” – Class 2 - https://qualityalchemist.blogspot.com/2020/12/cityu-kto-autm-virtual-course-startup_10.html

20201215: CityU KTO – AUTM Virtual Course “Startup Business Development” – Class 3 - https://qualityalchemist.blogspot.com/2020/12/cityu-kto-autm-virtual-course-startup_15.html

20201217: CityU KTO – AUTM Virtual Course “Startup Business Development” – Class 4 - https://qualityalchemist.blogspot.com/2020/12/cityu-kto-autm-virtual-course-startup_17.html

CityU KTO related past activities:

20200630: CES Chairman and Work Group meeting with New Director of KTO, CityU - https://qualityalchemist.blogspot.com/2020/06/ces-chairman-and-work-group-meeting.html

20191017: CityU Knowledge Transfer Office TSSSU_SEEDS Q&A Session - https://qualityalchemist.blogspot.com/2019/10/cityu-knowledge-transfer-office.html

20190627: CityU Inno-preneurship Mentoring Meet-up Dinner 2019 - https://qualityalchemist.blogspot.com/2019/06/cityu-inno-preneurship-mentoring-meet.html

20190522: CES Work Group meeting with KTO, CityU - https://qualityalchemist.blogspot.com/2019/05/ces-work-group-meeting-with-kto-cityu.html

20180528: CityU Inno-preneurship Mentoring Meet-up Dinner 2018 - https://qualityalchemist.blogspot.com/2018/05/cityu-inno-preneurship-mentoring-meet.html

20180308: The 1st CityU Innopreneurship meeting with HANDS 2018 - https://qualityalchemist.blogspot.hk/2018/03/the-1st-cityu-innopreneurship-meeting.html

20170719: HKQAA Startup Coaching to CityU Inno-preneur “HANDS” - https://qualityalchemist.blogspot.hk/2017/07/hkqaa-startup-coaching-to-cityu-inno.html

20170705: HKSTP TecONE Investment Series Seminar and Visit IncuBio “HANDS” - https://qualityalchemist.blogspot.hk/2017/07/hkstp-tecone-investment-series-seminar.html

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

20151123: CityU Innopreneurship Ecosystem Launch Ceremony 2015 - https://qualityalchemist.blogspot.hk/2015/11/cityu-innopreneurship-ecosystem-launch.html

20140627: Visit to CityU Apps Lab -

https://qualityalchemist.blogspot.hk/2014/06/visit-to-cityu-apps-lab.html