HKIE Enginpreneurs Hub Webinar – Digital Transformation into Smart Manufacturing Facilities towards LVHM for New Venture: Startups

The HKIE Enginpreneurs Hub webinar named “Digital Transformation into Smart Manufacturing Facilities towards LVHM for New Venture: Startups” was held on 26^th Mar 2021. The seminar aimed to share in various new startup projects through incubation workshop and to facilitate the possibility of low volume – high mixed (LVHM) production capability for Startups through industry 4.0 implementation.

In the beginning, Dr. Vincent Fung (Executive Director, Kin Yat Holdings Ltd) introduced corporate strategy and new business development. He mentioned the typical EMS industry employed LMHV (low-mix-high-volume) strategy but now it tried to change strategy as HMLV (high-mix-low-volume) for startup venture.

Then Dr. Vincent Fung compared between traditional manufacturing and smart manufacturing.

And then Dr. Fung briefed the transformation on manufacturing operation, injection workshop, SMT floor, assembly line, product life cycle & in-process testing and data integration.

After that he shared several case studies on product digitization and transformation such as “Baby Swings”, “Jenga”, “iRobot”, etc.  IoT shop floor was stated that provided many cubicle for startup engineers working with production line staff.

Their ABC policy named “Auto”, “Build” and “Cell” to support startup for prototype and NPI production.

Finally, Dr. Vincent Fung concluded four successful factors for startup below.

i)                    Team formation (CFO + CTO + COO)

ii)                  Ideas / Technologies used in the product (IP protection)

iii)                Partner – NPI (New Product Introduction) and CM (Contract Manufacturer)

iv)                Business Model / Market (Timing to introduce to market)

Lastly, Dr. Fung shared his visit to University of MaryLand and observed how they incubate startup through leidos innovation lab.

After the seminar, HKIE President presented a certificate to Dr. Vincent Fung.

Reference:

HKIE - https://www.hkie.org.hk/en/

President's Message for 'The Enginpreneurs Hub' (EP Hub) - https://hkie.org.hk/en/discover/aboutpresident/

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