The Chinese University of Hong Kong Center for Entrepreneurship Annual Report for the Academic Year

Transcription

1 The Chinese University of Hong Kong Center for Entrepreneurship Annual Report for the Academic Year I am pleased to submit the seventh annual report with summary of accounts for the year July to June 30, 2012, of The Chinese University of Hong Kong Center for Entrepreneurship (CfE) to the CfE Executive Board and, subject to your approval, to the Asia Pacific Institute of Business (APIB). This report reviews CfE activities over the past year, outlines our staffing, governance and financing and seeks advice concerning our current work and our future strategy. I. Review of Activities The CfE is a research center of the CUHK Business School dedicated to understanding, documenting and promoting entrepreneurship through practice, teaching and research. Unlike other APIB Centers 1, the CfE has a mandate that extends beyond research. This impels us to join CUHK colleagues from different faculties and programs and to work closely with businesses, civil society organizations and the government. A. Practice The CfE is committed to stimulate the practice of entrepreneurship, especially among students. The CfE annually runs two business plan competitions: the Hong Kong Social Enterprise Challenge (HKSEC) and the Vice-Chancellor s Cup of Student Entrepreneurship (VCCE). In the summer of 2011 we also ran the Cyberport Creative Microfund Young Entrepreneurship Program and have sponsored and encouraged student participation in other competitions. In addition, we have introduced and run the Alumni Mentorship Program and have consulted to startups incubated in the Hong Kong Science and Technology Parks (HKSTP). 1. Hong Kong Social Enterprise Challenge 2011 In terms of budget and headcount, HKSEC is the CfE s largest project. The Hong Kong Government s Home Affairs Bureau (HAB) sponsors HKSEC. In May, 2012 HAB accepted our proposal to run HKSEC 2012, its sixth consecutive year. In HKSEC 2011, 681 full time and part time students from over 20 Hong Kong, post-secondary institutions in diploma, undergraduate, and postgraduate programs took part in teams of from two to five students to plan social enterprises. HKSEC 2011 ran from the September 2011 grand opening to the February 2012 grand finals. Judges from the investment, civil society and social enterprise communities selected as winners the two teams that they expected to create the most social value subject to feasibility. Although full-time undergraduates 1 The six other APIB research centers, The Centre for Aviation Policy, The Centre for Chinese Financial Development and Reform, The Centre for Hospitality and Real Estate Research, The Centre for Institutions and Governance, The Centre for International Business Studies and the Centre for Marketing Engineering. 1

2 outnumber all other contestants, postgraduate students formed 39 percent of grand finalists (up from 12 percent of submitted summaries). And this year for the first time, all members of the two grand champion teams, Oops and Woof were experienced, post-graduate, part time students. The members of the two grand champion teams will receive HAB-sponsored internships to be paid out from March 2012 to December Payments, up to a total of $48,000 per team member, will be made to each member upon reaching milestones the team s plan to implement the social venture. As of August 2012, both Oops and Woof are well advanced in the launching of their businesses and both had been offered grants from CUHK, through its I-CARE program, of $100,000 each. These grants will be administered by the CfE. In HKSEC 2011, prizes of $10,000 cash each, donated by Bridgeway Capital, Hong Kong Design Centre, Hong Kong Science and Technology Park, and Storefriendly were awarded to teams for Enterprise Value, Creative Design, Technology, and Sustainability respectively. Three out of four of these prizes were won by undergraduate student teams. HKSEC is led by Mingles Tsoi and administered by Jamie Wong and Odelia Chui. Appendix 1 gives the summaries of the winning teams at HKSEC. Please see for more details. 2. Vice Chancellors Cup of Student Entrepreneurship (VCCE) The CfE runs VCCE, CUHK s annual new venture business plan competition, with funding from the CUHK Committee for the Advancement of Student Innovation and Entrepreneurship (CASIE) and the CUHK Knowledge Transfer Office (KTO). Starting in September 2011, we promote VCCE to all students in diploma, undergraduate degree and postgraduate degree programs. In VCCE 2012, 26 teams with over 100 students competed. The CfE shortlisted (based on plan summaries) 18 semifinalist teams who submitted full business plans in January The 18 semifinalist teams included 69 students from five faculties (Arts, BA. Engineering, Law, Sciences and Social Sciences) and 16 programs. The finals were held on the 4 th of February, The winning team was awarded $8,000 and represented CUHK at the Global Venture Labs Investment Competition at the University of Austin in Texas where they won an award for market opportunity. The first runner-up was awarded $5,000 and represented CUHK at the Asia Venture Challenge at Thammasat University in Bangkok where they won a US$1,000 division champion cash award. The second runner-up received a $3,000 award. SOW Asia also contributed an $8,000 Social Enterprise Award. An outline of the awardees plans are given in Appendix 2. Please see for more details. 3. Cyberport Creative Mico Fund Young Entrepreneur Program (CCMF) The CfE designed and implemented with the PKUHKUST Shenzhen Hong Kong Institution, the Shenzhen-Hong Kong Union for Promotion Science & Technology, and the Hong Kong Information Technology Joint Council the first Cyberport Creative Mico Fund Young Entrepreneur Program inviting all Hong Kong and Shenzhen residents who were current students or recent graduates to start 2

3 companies in the information, computing and telecommunications industry. The finals took place on August 6 th to 7 th, Nine joint Hong Kong and Shenzhen member teams were selected to receive up to $100,000 each to defray expenses of startup. Eight of those teams successfully completed the interim and final reports in October 2011 and January 2012 respectively. Appendix 3 contains information about this competition. In March 2012 in a competitive tender, the CfE unsuccessfully bid to run the second annual CCMF YEP. The bid was won by PolyU, but CUHK continues to be a co-sponsor and promotes the competition to our students. 4. Consultancy Services to Incubatees The CfE contracted in 2010 to provide consultancy services to incubatees in the High Tech Incubation Program of HKSTP. In August 2011, HKSTP exercised its option to review that contract for a second year. Under the service, the CfE gave all incubatees the opportunity for initial written assessments and face-to-face discussions of their businesses. The initial assessment and face-to-face discussions not only gave incubatees advice on their businesses (Phase I); it also gave the consultants information from which they screened companies with promise for rapid expansion and external financing to whom they gave in-depth consulting (Phase II). In all, 34 companies completed Phase I. Four companies have completed Phase II; three additional companies are currently involved in Phase II and another three may be placed into Phase II. The two year contact will expire at the end the end of August 2012 when the HKSTP will conduct a second open tender for competitive bids. The consultancy was run by Wilton Chau with assistance from Mingles Tsoi. The CfE has submitted a proposal to offer for this service to HKSTP incubatees again in the coming year. The CfE is also bidding to provide similar consulting services to the incubation programs of the Hong Kong Design Center. 5. CU Alumni Entrepreneur Network (CUAEN) Funded by KTO and initiated by the CfE, CUAEN involves alumni entrepreneurs mentoring to students who wish to start companies. CUAEN grew out of the CfE s 2010 Alumni Census of Entrepreneurs in which we identified over 80 CUHK alumni who were keen to help students realize their entrepreneurial dreams. We short-listed 22 entrepreneurs and paired them with 27 student teams though a series of events outlined in Appendix 4. In coming years we hope to continue the program, both on the periodic formal pairing basis and on an Entrepreneur in Virtual Residence basis. CUEAN initiative is run by Mingles Tsoi with assistance from Serene Gu. For more information consult 6. Hawai i Business and Entrepreneurs Acceleration Mentors (HIBEAM) MOU and Hawai i Tech Asia 2011 In September 2011 Dr. Bee-leng Chua, founding director of the CfE, and currently Director of HIBEAM, led a delegation of 13 young US companies seeking Asian partners to the CUHK. During the 3

4 visit the Center for Clinical Trials (CCT), the CfE and HIBEAM signed on September 27, 2011 a Memorandum of Understanding (MOU) to pursue academic and business exchanges to facilitate the commercialization of advanced technologies, especially in the fields of biotechnology and life sciences. Under the MOU, the CfE, HIBEAM and CCT we will investigate opportunities to conduct education and training programs, pursue research, develop intellectual property, conduct clinical trials and facilitate supplier, buyer and resource partnerships. B. Research CfE members continue to pursue research initiatives with colleagues in universities in greater China and around the world. 1. Book Publications The CfE published two books during this academic year, Entrepreneurship Education in Asia Edited by Hugh Thomas, Donna Kelley (ISBN ) and Family Enterprise in the Asia Pacific - Exploring Transgenerational Entrepreneurship in Family Firms edited by Kevin Au, Justin B. Craig and Kavil Ramachandran (ISBN ). In addition, the Kevin Au and Mingles Tsoi edited 中大創業人 - 從香港到世界的企業國度, which was published at the end of July Case Research under the Service Leadership Initiative (SLI) The Center for Civil Society Studies and the Center for Entrepreneurship have been awarded financing from the Victor and William Fung Foundation Limited of $1 million per year for three years, the major part of which will be spent developing cases on service leadership. SLI cases may be set in any company in the service industries (eg., accounting, banking, consulting, logistics, etc) or a service function within a goods-producer. Each case will include a written draft, a teaching note, a teaser video and a full video produced by a team under the academic leadership of the professor who will use the case in his or her class. The SLI involves, in addition to CUHK, all eight of the UGC-funded universities in Hong Kong. The research is led by Kin Man Chan and involves Hugh Thomas, Kevin Au, Mingles Tsoi and Bernard Suen. As part of SLI, Terence Yuen is developing a general education course in service leadership. C. Teaching The CfE has no regular mandate to deliver courses within CUHK, although our members teach entrepreneurship courses in several departments and faculties and we coordinate entrepreneurship education related activities across faculties and programs. 4

5 1. CUHK Programs CUHK offers a minor in entrepreneurship at the undergraduate level and a concentration in entrepreneurship to MBA full time students. CfE members teach in these programs as well as in entrepreneurship modules in the General Education courses offered by various colleges. Shaw College, one of the four traditional colleges of CUHK, offers a course in social entrepreneurship which we will be coordinating in the coming academic year. Wu Yi Sun College, one of the five new colleges of CUHK that will be taking students for the first time in September 2012, includes in its mission that students will develop the drive for social entrepreneurship: a passion for creativity and innovation, and acumen in pursuing new projects and ideas, not just for personal gain but for the common good. These two colleges, and potentially others, present an opportunity for the CfE to develop further our CUHK teaching programs. 2. CUHK Entrepreneurship Week Sept With financing from KTO, the CfE and the Faculty of Engineering s Center for Innovation and Technology held CUHK Entrepreneurship Week from September 15 th to 20 th, During the week, we invited prominent entrepreneurs to come to campus to lecture, promoted our business plan competitions, introduced the university and government programs available to students to help them in their entrepreneurial endeavors and discussed the relationship between investors and investees in startups. We also held a competition, the Entrepreneurship Week Challenge 2011, in which we invited CUHK students to create value from chopsticks. They demonstrated the value created through a maximum 3-minute video uploaded to Youtube. Appendix 5 gives the main events for Entrepreneurship Week including the winners of the video competition. 3. Social Enterprise Training Programme (at Practical Level) The CfE bid and won the July 2011 competitve tender of the HAB to provide training to social enterprises. One hundred potential trainees applied; from these, 50 were accepted. The Training was conducted every Friday evening (for Class A) and Saturday morning (for Class B) from 28 October 2011 until 17 December 2011 at the Hong Kong Productivity Council Building. A total of seven modules and one visit to a social enterprise were delivered in Cantonese, while the handouts, reference materials and presentation notes were prepared in English. The HAB was fully satisfied with the program. We have bid to re-run the program and anticipate being awarded the contract again in The program was delivered by Mingles Tsoi and Dominic Chan. 4. Hong Kong Design Center Training The CfE is co-organizing with the Hong Kong Design Centre the sixth intake of the Entrepreneurship for Design & Creative Business Certificate Programme from 16 th June to 8 th September 2012, every other Saturday. The program has seven sessions in Hong Kong to train local 5

6 designers and creative professionals who are interested in design and creative regional business opportunities and includes a one day site visit to design houses in Shenzhen; hence it is called the 7+1 program. The program is run by Kevin Au and Bernard Suen. II. Governance and Management The members of the Executive Board for were: Kevin Au, Associate Professor, Department of Management and Associate Director of Full Time MBA Programmes. Kin Man Chen. Associate Professor, Department of Sociology and Director of the CUHK Centre for Civil Society Studies Robert Lee, Professor in Entrepreneurship Practice, Associate Director, MBA Programs and Executive Director, Center for Business Innovation and Globalization Hugh Thomas, Associate Professor, Department of Finance (Director) K. F. Wong, Associate Dean (External Affairs) of the Faculty of Engineering, professor in the Department of Systems Engineering and Engineering Management, and the director of CINTEC. Benny Zee, Assistant Dean of Research for the Faculty of Medicine, Director of the Centre for Clinical Trials in the School of Public Health.. The Executive Board officially met twice during the year, on October 3 rd, 2011 and 26th April The minutes from these two meetings are in Appendix 5. The members of the Executive Board also met numerous times unofficially and conducted several postal votes. Members of the Executive Board are appointed by the APIB Management Board, chaired by T.J. Wong, Dean of the Faculty of Business Administration. Existing members of the CfE usually identify those who will be effective and gracious enough to accept the appointment which can involve considerable work but brings no direct remuneration. The CfE Advisory Board offers strategic advice and practical help to the CfE. Its contains two ex-officio internal advisors the Pro-Vice Chancellor of CUHK whose duties include responsibility for technology transfer and the head of the Knowledge Transfer Office. The Advisory Board also contains three external advisors. In , the members of the Advisory Board were Vincent Chan, Founder and CEO, Spring Capital; Co-President of the Hong Kong Venture Capital Association Rosetta Fong Sut Sam, Founder and CEO, CEO Executive Director, Convoy Financial Services Holdings Limited Sharon Tam, Manager, KTO, CUHK Camille Tang, Founder and CEO ConvenientPower HK Limited Henry Wong, Professor of Chemistry, PVC in Charge of Research CUHK 6

7 We appreciate the help that Vincent Chen gave us in advice concerning the HKVCA and in encouraging his colleague at Spring Capital, Sam Tang, to help us with the investors and investee panel during Entrepreneurship Week and will continue to seek is help as one of our past Advisory Board members. The incoming members of the Advisory Board for the year are Rosetta Fong Sut Sam, Founder and CEO, CEO Executive Director, Convoy Financial Services Holdings Limited Benson Lo, Founder and Executive Director Pacific Foundation Securities Limited Sharon Tam, Manager, Knowledge Transfer Office, CUHK Camille Tang, Founder and CEO ConvenientPower HK Limited Henry Wong, Professor of Chemistry, PVC in Charge of Research CUHK Wilton Chau has ended his term as honorary post-doctoral research fellow carrying the title of Project Director. Wilton leads our consulting initiatives and is s also a highly rated instructor in the MBA program, teaching the New Venture Business Plan Project required entrepreneurship stream course as well as Venture Capital and Private Equity. In the coming year, Wilton Chau will be a member of the Executive Board. All other Executive Board members remain the same. Li Yan completed her appointment as Honorary Post Doctoral Research Fellow in December Mingles Tsoi continues as an honorary research associate carrying the title Project Officer for Social Ventures. His leads HKSEC and the CUAEN and has taken important roles the I-CARE program s administration through the CfE and the SLI. Mingles is currently employed on a part time basis but his commitment and contribution have far exceeded that role. The CfE looks forward to Mingles becoming a full time member of the CfE in the near future. Bernard Suen continues as honorary research associate, carrying the title of Project Officer for new media. Bernard has been active as a part time employee in the CfE in the 7+1 Hong Kong Design Institute Program, the DSI case research initiative and the CCMF Program. He is also likely to play a key role in the SLI. Richard Tong has ended his tenure as honorary research associate, carrying the title of Project Officer for family business this summer. Richard will work with the Center for Family Business Studies of the School of Business. Dominic Chan was named honorary research associate, carrying the title of Project Officer. Dominic has assisted in the CCMF Program and the HAB training. The day-to-day activities of the CfE continue to be run by Rosanna Lo Wing Shan, Project Officer. Rosanna is sponsored 50 percent by the university and 50 percent by the BA Faculty. HKSEC 2009 is administered by Jamie Wong Wing Shuen and Odelia Chui Chi Kwan. I regretfully accepted Odelia s resignation recently and wish her well in her future career. Serna Gu Xu has provided competent support on a wide variety of programs including CCMF YEP, the 7+1 program, the CUAEN and the HKSTP 7

8 consulting. Kelvin Yuen works on a part time basis to satisfy the CfE s information technology needs. Two full time summer junior research assistants, Emily Chan Long-nam and Waselle, helped implement the CCMF YEP Program. I am pleased to welcome two new permanent staff members, Ki Ting and Ho Chi who joined the CfE in the last month. We plan to hire another administrative assistant and will be looking for part time case writers, video production people and researchers. III. Financing Over the last year the expenses of the CfE have been financed by a combination of external grants, internal funding, course and conference fees, and donations. A brief review of CfE accounts shows that we are now in a stronger financial position than at any time since the founding of the CfE. Our income and outflow for the year were as follows (See Appendix 7 for details of the accounts within the CfE): Item HK Dollars Cash Inflow 4,496, Expenditures 2,943, Allocated and Unallocated Surplus for Year 1,553, The CfE contributes to CUHK s central administration by paying a 15 percent tax on non-exempt income. In the last year, this tax (listed within Expenditures above) was paid on our consultancy work with the HKSTP, our Social Enterprise Training, our Hong Kong Design Center Training and the CCMF and totaled $112, Adding the Surplus for Year above to accumulated surpluses from past years, our cash balance as of June 30, 2012 was $2,026, CUHK requires that research centers pre-fund all new hires. Hence, most of these funds are allocated for next year s operations. The surplus, however, shows that our programs are growing strongly. The following is a budget of CfE planned spending for the next year: Item HK Dollars Salary Committed 660, Internship / Grant to teams 440, Expenses Committed 21, Refund to HAB 64, Refund to CASIE 133, Refund to KTO 26, CUHK Overhead 30, Expenses Estimated 192, Unallocated Surplus 99, Reserved Fund (Social Enterprise) 357, Total 2,026,

9 The reserve fund (social enterprise), a surplus from previous HKSEC years, will be allocated to as yet undetermined projects related to social enterprise. The unallocated surplus of $99, is available for strategic development of the CfE. I hope that the reader of this report will join the many students, instructors, administrators, business persons and other community members who have participated in and helped the CfE. We warmly welcome your ideas and assistance. I have enjoyed working with every member of the committed, optimistic and highly competent CfE team over the last seven years since its inception and especially the last five during which I have been honored to serve as your director. I trust that the CfE will continue to prosper in its promotion of practice, research and teaching in entrepreneurship. Yours truly Hugh Thomas Director Center for Entrepreneurship (CfE) August

10 Appendix 1: Hong Kong Social Enterprise Challenge Winners. HKSEC Grand Final Winners Two teams won internships of up to $48,000 to help them roll out their social ventures: Oops and Woof. In addition, three teams won four cash prizes. Details of the cash-winning plans follow: HKSEC Grand Final Winner: Oops! The interior design industry is wasting huge quantities of building materials. This includes tiles, paint, wood and construction material. Surprisingly, an additional 10% of extra materials are usually ordered as a contingency during construction. (To give you an idea of the waste, within three months, three interior design companies would generate enough waste to fill almost one basketball court.) Even though the surplus materials are unused and in good condition, they are treated as building waste - and dumped into landfills. Oops! has a solution. We would like to transform this waste into art. Artists are looking for a wide variety of materials e.g. stone, upholstery and tiles. You would only need a little imagination to see how these materials could become paintings, sculptures and mosaics to admire and enjoy. With minimal effort, artists could easily extend the life of materials. Our initiative would also reduce the pressure on our landfills through recycling programs. Oops! provides a new business model for the creative industry. Through a commitment to educate the public and the interior design industry Oops! would stimulate creativity, promote environmental protection and increase employment opportunities. Rather than destroy, Oops! aims to create. Team Leader: 朱英姿 CHU Yin Chi, Joyce (PolyU) Team Members: 羅家佩 LAW Ka Pui Keziah (PolyU), 梁卓雅 LEUNG Irix Cheuk Nga (PolyU) 黃家琪 WONG Ka Ki (PolyU) Faculty Advisor 陳啟晶先生 Mr. CHAN Kai Ching, Patrick (PolyU) 10

11 HKSEC Grand Final Winner: Woof The search for sustainable organic clothing material is over. An alternative has been rediscovered Chiengora! What is Chiengora? If you knew how incredibly functional it was, you d probably jump at the chance to wear it. Chiengora is artistically smooth and silky and can be blended with other fibers. It s 80% warmer than wool and even waterproof! So it s easy to imagine Chiengora as a high-fashion material for clothes and accessories just like a work of art. Unbelievably, it is easily accessible as a waste product, locally sustainable and environmental friendly. Where can we find it? Chiengora is a fashionable and quirky animal fiber, which primarily comes from grooming dogs. That s right, dogs! (Hong Kong has over 317,000 dogs.) Chiengora is perfect for manufacturing clothes, blankets and bags. In fact, it was first used many centuries ago by the Europeans and the Mayans. Also in 2007, Chiengora was scientifically tested and confirmed to be commercially viable as a staple yarn. What s the Social Enterprise angle? Woof aims to change attitudes towards animals e.g. reducing animal surrenders and increasing animal adoptions. To do this, each product tells a tale of homelessness, adventure and heroism. Through Woof Collectives, the public will empathise and understand the plight of animals. Will it work? We are collaborating with: Barney Cheng, the famous Hong Kong fashion designer, has expressed interest in Woof Prominent pet groomers have offered dog hair for free The SPCA as a partner Woof gives art you can wear! Team Leader 林敏兒 LAM Mun Yee, Anita (PolyU) Team Members 陳曉嵐 CHAN Hiu Nam, Amy (HKBU) 樂美怡 LOK, Margaret (PolyU) Faculty Advisor Mr. Rèmi LECLERC (PolyU) 11

12 HKSEC Grand Final Cash Awards for Creative Design and Sustainability: Eco$ave Water pollution costs heavily to the planet, every litre of polluting water pollutes 7 litres of clean water. 70% of water pollution comes from the excessive use and disposal of non-biodegradable household detergents. Eco$ave, an eco-friendly and money saving green detergent provides the unique formulation to this environmental predicament. Eco$ave decomposes into harmless carbon-dioxide and sulphate in 28 days. Together with its innovative product dispenser, Just-A-Press and as the only pioneering detergent comprised of methanesulfonic acid, Eco$ave ultimately promotes rational detergent usage and help consumers to save money. As an environmental social enterprise registered in Hong Kong, EcoSave International Ltd. was recognized by several local and international competitions, such as being the first team to ever represent China in winning the World-Champion in the 6th-Lee-Kuan-Yew-Global-Business-Plan-Competition and the first-runner-up in the YDC-EChallenge Eco$ave aims to achieve a threefold social impact. Eco$ave not only delivers a cost-effective and green alternative to consumers, but aims to promote social convergence in our society. This is achieved through redistributing our profits to promote environmental education to primary students and to improve the standard of living in low-income areas in Hong Kong through providing employment and training opportunities for low-skilled housewives. We believe this will enable these people to gain vital skills to enhance their long-term competitiveness whilst benefiting from invaluable word of mouth branding effects and most importantly plant the seed of environmental protection to our next generation. Ultimately, the goal is for the society to work together in making the world a greener place. Team Leader 塚林姬內子 Isolde TSUKABAYASHI (HKU) Team Members 張鎧煇 CHEUNG Hoi Fai, Marco (HKUST) 劉毅 LAU Ngai, Victor (HKU) Faculty Advisor Mr. Graham YOUNG (HKUST) 12

13 HKSEC Grand Final Cash Award for Enterprise Value 我的樽, 我的 Drink 在自動販賣機購買飲料是大多數城市人都有的經歷, 其實, 每當我們把硬幣投入自動販賣機或用八達通付款時, 除了購買到想要的飲料之外, 也得到了一個會被我們隨手丟棄的副產品 膠樽 / 鋁罐 這些被我們丟棄的容器, 最終被棄置到堆填區, 成為土壤污染物, 影響生態環境 有見及此, 我們 GLOVE 提出一個名為 我的樽, 我的 Drink 的 零包裝 概念 針對上述問題, 我們推出全新的自動販賣機, 為消費者提供一個更環保的選擇, 用自備水樽 ( 我的樽 ) 的形式購買自己喜愛的飲料 ( 我的 Drink ) 通過推廣這個概念, 我們深信能創造全新的飲料文化, 鼓勵社會大眾自備水樽, 減少資源浪費, 提高全社會的環保意識 Team Leader 葉松鑫 YIP Chung Yam, Vincent (CUHK) Team Members 趙城鋒 CHIU Shing Fung (CUHK) 李嘉穎 LI Ka Wing (CUHK) 黃寶儀 WONG Po Yee (CUHK) Faculty Advisor 何詠茵博士 Dr. HO Wing Yan, Glos (CUHK) 13

14 HKSEC Grand Final Cash Award for Technology Healthcare Et Cetera Healthcare Et Cetera aims to provide qualified and convenient pharmaceutical services and raise the awareness of drug safety and disease prevention. Our business model consists of two components: an online platform and outreach programs. Ampoule, our online platform founded by Dr. Vivian Lee (a Pharmacy Professor from CUHK), features a unique function called Ask My Pharmacist This allows internet users to drug-related questions and also receive customized responses from our registered pharmacist. The website will also contain information about disease prevention and management as well as sensitive issues such as contraceptives, diet pills and drug abuse. To generate revenue, Ampoule will provide Meet My Pharmacist (web conferencing) service exclusively to our business partners such as pharmacy chains and community centers. After subscribing to our service, registered pharmacists will provide advice to the customers or patients of our business partners. People will be able to access advice through Meet My Pharmacist. Far from being impractical, the Mannings pharmacy chain and seven community centers in Hong Kong are interested in subscribing to our services. To complement the online platform, we will organize health seminars and health days to educate patients with chronic diseases, low-income families and healthcare professionals. In cooperation with NGOs, we will conduct outreach activities and also seek sponsorship from pharmaceutical and FMCG companies. Through transferring drug knowledge and enhanced communications between patients and pharmacists, we can promote safe and proper medication use, leading to better drug treatment outcomes and a lower healthcare cost. Team Leader 陳天健 CHAN Tin Kin (CUHK) Team Members 許綺蘋 HUI Yee Ping, Teresa (CUHK) 甘芷軒 KAM Tsz Hin, Jacqueline (CUHK) 蕭嘉佑 SIU Alex Kar Yau (CUHK) 徐彬 XU Bin, Helen (CUHK) Faculty Advisor 李詠恩教授 Prof. W.Y. LEE, Vivian (CUHK) 14

15 Appendix 2: Vice Chancellor s Cup of Student Entrepreneurship 2012 Award Winners There were three cash award winners at VCCE: Recebuy, ReWardrobe and E-Canteen. VCCE Champion Team: Recebuy ReceBuy s mission to become Hong Kong s single most trusted platform for trading bills of exchange which caters to the private sector as well as to SMEs is based upon its vision to arrange for a better allocation of economic resources in Hong Kong. By providing private consumers as well as small and medium sized enterprises a chance to generate cash on an ad-hoc basis, the backbone of HK s society will ultimately be strengthened. Based on this vision, there are four strategic pillars which are found indispensable to attain ReceBuy s mission and which are deeply embedded into the company s corporate culture: Continuous growth - ReceBuy seeks to continuously expand skills and competencies as well as promotion efforts to maintain a dominant position within the Hong Kong market. Operational excellence - Fostering a proactive corporate culture which focuses on steady improvement of operating processes will not only help ReceBuy to reduce costs and improve the quality of the services offered, it will also help to remain as flexible as possible. Strong customer focus - Trust and user-friendliness are top priorities when interacting with customers. ReceBuy strives to establish platforms which combine both aforementioned customer benefits in a very appealing way. Moreover, balancing margins with a customer s marginal propensity to engage in auctioning will provide strong incentives to participate on the platforms. First mover culture - ReceBuy wants to remain a first mover in its field by keeping pace with technological advance as well as market trends to both generate an exciting experience for its customers as well as to diversify the business model. Team Leader Matthias Brock, Full Time MBA Candidate Team Members Christian Seurig, Full Time MBA Candidate Oliver Padmaperuma, Faculty Advisor, MBA Candidate Professor David Ahlstrom 15

16 VCCE First Runner Up and Winner of the SOW Asia Award: Rewardrobe The difference between clothes and fashion is attitude. Given the fact that most people wear only an astonishing 20% of their wardrobe, the excitement of shopping often translates into obsolescence, wastage, and materialism, which is nothing glamorous at all. ReWardrobe is a social enterprise which collects used garments, selects the finest among them, redesigns them into fashionable, affordable, sustainable, exceptional new pieces of clothing and distributes them on a bid-and-buy online system. We hire fresh graduates and outstanding students of fashion design institutes and programs to be our designers, and invite socially responsible celebrity designers to play the role of advisors and mentors and collaborate with our young designers to deliver ReWardrobe s extraordinary products. Our business model serves a triangle of three beneficiaries we provide more diverse and eco-friendly choices of apparel for customers, educate and nurture young designers, and enlighten the community with a refreshing eco-fashion attitude. With an initial endowment of $110,000, investors can expect a payback period of 3 years and an attractive return of over $50,000 per year. A New York Times headline last March read The Green Movement in the Fashion World, and 20,000 tote bags with the slogan I m Not A Plastic Bag designed by Anya Hindmarch were sold out within an hour in London in Since the early nineties, seeds of sustainable fashion were sown and the concepts of recycling and environmentally friendly garments grew increasingly widespread. Green fashion is undoubtedly a forceful trend and new mindset of the forward-looking generation. ReWardrobe is at the forefront of the growing green, organic, ethical and sustainable fashion trend and culture. We target at Generation-Y youngsters who seek exclusivity and individuality in fashion and take pride in displaying their environmental awareness through bold fashion statements. This is a lucrative business with proven demand as customers nowadays value more than superficial beauty and quality when considering their options. Our garments will be easily marketable as unique, stylish, affordable and eco-friendly options which turn waste into taste. As a global fashion capital ranked second in the world, Hong Kong sees a surging trend of eco-fashion and emerging demand for environmentally friendly recycled apparel, and ReWardrobe is here to capitalize on this untapped opportunity. To redesign and redefine, ReWardrobe seeks to bring about an unprecedented eco-chic revolution. Be a part of the trendiest new culture and reward your wardrobe with ReWardrobe. Team Leader Angela Li, Global Business Studies Program Team Members Poon Ka Ki, Global Business Studies Program Veronica Lau. Global Business Studies Program Zoe Ng, Global Business Studies Program Ng Lam Kwan, Global Business Studies Program Faculty Advisor Professor Gordon Cheung 16

17 VCCE Second Runner Up: E-Canteen With mobile internet and smart phone fast growth in Hong Kong, customers fundamentally change in many aspects, which lead to new challenges food and catering industry. Restaurants want to lower operation cost without effect; on the other hand, customers want to save waiting time. E-Canteen s mobile ordering system designed for canteen and fast food restaurants is the first mobile ordering system designed for canteen and fast food restaurants. It allows customer locate different nearby restaurants, browse their menus, and make orders through their smart mobile phone. When customer arrives at the restaurant, he confirms his order on canteen s terminal device with his phone, and completes the transaction without waiting in the line in cashier. Such system saves not only customer s time, but also the restaurant s labor cost without affecting the service quality. The E-Canteen s target market is fast food restaurant and canteens in Hong Kong and mainland China. We have developed the demo and will roll out the service in coffee corner in Chinese University of Hong Kong ( CUHK ) in March We plan to have 200 active users and over 2,000 transactions in first half year of The service will cover the CUHK in second half year of We will extend the service CUHK to other universities in Hong Kong and mainland China. We are looking for a $200,000 initial investment, which will be used for platform development and 20 terminal devices. In return we offer 20% percentage of shares. Team Leader Zhao Yu, Information Technology MSc Team Members Zhang Yan, Bachelors of Law Faculty Advisor Professor Cheung Wai Man 17

18 Appendix 3: Cyberport Creative Microfund Young Entrepreneur Program 2011 Semifinalist Team: The following are the 21 teams that competed in August 6-7, Teams #1, 3, 6, 11, 13, 14, 15, 19 and 20 won the right to the $100,000 grant, and all but Team #15 completed the requirements for the full grant from September 2011 to January

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24 Appendix 4: CU Alumni Entrepreneur Network : Schedule: 日期 活動 2011 年 9 月 16 日 ( 星期五 ) 計劃啟動禮暨簡介會 2011 年 10 月 7 日 ( 星期五 ) 報名截止 2011 年 10 月 17 日 ( 星期一 ) 確認及公佈入選學員名單 2011 年 10 月 24 日 ( 星期一 ) 學員提交編配意願截止 2011 年 11 月 7 日 ( 星期一 ) 確認及公佈學長學員編配結果 2011 年 11 月 19 日 ( 星期六 ) 學長學員見面會 2011 年 12 月 年 2 月 小組活動 ( 自行協商安排 ) 2012 年 1 月 7 日 ( 星期六 ) 訓練工作坊 : 商業計劃撰寫及演示 2012 年 3 月 5 日 ( 星期一 ) 學員提交期中進度報告 2012 年 3 月 10 日 ( 星期六 ) 期中評估及分享會 2012 年 4 月 -5 月 小組活動 ( 自行協商安排 ) 2012 年 6 月 4 日 ( 星期一 ) 學員提交期末報告及評估表 ; 學長提交評估表 2012 年 6 月 9 日 ( 星期六 ) 期末評估及分享會 Mentors: 陳志新 富邦航運有限公司 董事長 陳剛達, 潘浣珊 捷思市場研究及顧問有限公... 陳淑萍 能量站健康管理中心有限公... 總監 陳樹偉 域思科技有限公司 董事總經理 卓冠豪 Avalade 集團有限公... 董事總經理 鄒重璂 朱志強 何志磊 何永泰 何裕光 天一醫療機構 科文實業有限公司董事 振華集團 香港口琴音樂中心 洪紡 ( 香港 ) 有限公司 主席兼醫務總監 董事總經理 總經理 音樂總監 董事 24

25 洪健崴 林偉雄 林永君 劉小鷹 文振球 翹雋文化產業 時計工場有限公司 Anyplex 數碼點播 中國長遠控股有限公司 傳信人間有限公司 行政總裁 董事 行政總裁 主席兼行政總裁 公關顧問總監 譚偉豪 曾立基 屈國良 黃凱權 黃誠鴻 權智 ( 國際 ) 有限公司 縱橫公共關係顧問集團 亞洲科龍有限公司 創流推廣 東昇電腦顧問 主席 董事長兼董事總經理 董事及首席顧問 執行董事 首席顧問 黃鏡興 游應森 亞洲信貸監察 安華實業有限公司 董事及行政總裁 董事總經理 25

26 Appendix 5: Entrepreneurship Week: Entrepreneurship Week Challenge winners: Champion: 筷子 Chopsticks: winner of $10,000 First runner up : I-Holder: winner of $5,000 Second runner up: Smart Chopsticks: winner of $3,

27 Appendix 6: Minutes of the Executive Board Meetings: Center for Entrepreneurship Executive Board Meeting MINUTES Date : 3 rd October, 2011 Time : 11am 12:45pm Venue : 1228A Meeting Room, Cheng Yu Tung Building, CUHK Participants: Profs. Hugh Thomas, Kevin Au, K.M. Chan, KF Wong, & Benny Zee. Agenda: 1) Elections of Chairperson and Directors ~ Chairperson & Director: Prof. Hugh Thomas 2) Appointment of Associate Directors ~ Associate Directors: Profs. Kevin Au, K.M. Chan, K.F Wong and Benny Zee 3) Presentation of Annual Report and Accounts ~ All directors endorsed the annual report and account update. 4) Social Entrepreneurship 4.1) HKSEC & HKSEC plus 4.2) CUHK I CARE program 4.3) Social Entrepreneurship Training funded by Home Affairs Bureau, will commence the end of Oct to Dec ) Use of the HKSEC project surplus: HKSEC 2008 Expenses balance = HK$89,000 Internship balance = HK$89,000 HKSEC 2009 Expenses balance = HK$120,000 Internship balance = HK$58,000 Total Surplus = HK$356,000 ~ All directors endorsed to use the above surplus on Social Enterprise related expenses, such as hiring extra staffs and SE research project. ~ Will ask Mingles to seek HAB approval and grant us the right to use the residue funding. 27

28 5) Design Entrepreneurship in Hong Kong: 7 + 1, 7 modules completed in September and the site visit has been arranged to visit Shenzhen on Oct 15. 6) Research Projects 6.1) Private Enterprises in China 10 year study 6.2) The CfE Publication 中大創業人 ~ grant funding from KTO to publish the book, Serena will fine tune the interviews that SH has prepared earlier. 6.3) GEM association with GEM China in Tsinghua 7) Knowledge Transfer Unit funded projects: 7.1) CUHK Entrepreneurship Week (CU EWeek): Sep and just finished. ~ the seminar and workshop were difficult to attract participants in general. ~ should consider if we still run it in ) CUHK Alumni Entrepreneur Network: ~ there are 20+ alumni signed up as mentors & around 30+ teams mentee registered. 7.3) VCCE ~ New Prize from SOW Asia HK$8,000 Best social enterprise award ~ Proposed Agenda: Registration and Summary Dec 17 th ; Semi-Finalist announcement December 21 st ; Full Written Plans January 16 th ; Semi-Finals Friday Feb 3 rd ; Finals Saturday Feb 4th 7.4) KTO Project Application Deadline October 30 8) Cyberport Creative Micro Fund Young Entrepreneurs Program ~ received positive feedback from HK Cyberport and they are satisfied of the event. They suggested CfE to implement the competition again in 香港数码港创意微型基金 杯深港青年创 ) Succession 10) AOB 28

29 Center for Entrepreneurship Executive Board Meeting MINUTES Date : 26 th April 2012 Time : 10:30am 12:15pm Venue : 928A Meeting Room, Cheng Yu Tung Building, CUHK Participants: Profs. Hugh Thomas, Kevin Au, K.M. Chan, Robert Lee, K.F. Wong, & Benny Zee. Agenda: 1. Report on accounts as of March 31 and financial health: Balance of $1.606 million; net of SEC , VCCE and Overseas travel for VCCE $625k of which SEC Surpluses are $422k. Report on up-coming expected income and expenditures. ht a. Closing accounts and sweeping surplus to account CUHK Entrepreneurship Education and Research Fund (Project code # ) b. Staffs funding Serena and Rosanna ~ All executive directors agreed that to sweep the non active accounts surplus to account CUHK Entrepreneurship Education and Research Fund (Project code # ) as of closing accounts on April 30, Advisory Board Membership. We will call an advisory board meeting in May or early June. Current external advisors are Vincent Chan, Rosetta Fong and Camille Tang. Members are invited to suggest continuation, termination and additions. ~ AB meeting should be held twice every academic year but in fact only once was held last year due to the members are too busy. ~ We would have maximum of 5 members on the board. ~ Hugh said that Wilton suggested to invite the new advisory board member Mr. Benson Lo (his CV attached) ~ EB Members have no reject to invite Mr. Lo to join the AB in the coming year. 3. Current CUHK programs: 29

30 a. CINTEC KF Wong ~ KF said that we should promote Technopreneurship at VCCE. ~ CfE should think about the program to promote entrepreneurship during 50 th Anniversary Celebration in ~ by working closely with KY (CINTEC) & Sharon (KTO) to help the teams that the business plan is incomplete but with potential to implement. b. Faculty of Medicine / Center for Clinical Trials Benny Zee c. Center BiG Robert ~ Center BiG will organize the forum on May 12 in Hong Kong. BiG Forum: Proactive Innovation Targeting Key Trends. Speaker: Ms Aglaia Kong, Global VP of Cisco The forum is simultaneous broadcasting at Lecture Theater at CUHK Shenzhen Research Institute Building. d. Center for Family Enterprising and Business Advising Kevin e. I-Care Program KM Chan & Mingles f. HKSEC Plus Mingles 4. Current External Programs: a. HKSEC Mingles ~ Mingles will contact the professors at Engineering and Medical departments, in order to promote HKSEC how technology or innovative products to serve the social needs. ~ Benny suggested that Mingles would also approach the Public Health department. b. HAB Social Enterprise Training -- Mingles c. Victor and William Fung Foundation co-operating with the Hong Kong Institute of Service Leadership and Management (HKI-SLAM) to create the Li & Fung Service Leadership Initiative. ht ~ We proposed to write 5 cases per year and Hugh requested if any of the executive board members can recommend appropriate interviewees will be appreciated. d. Hong Kong Design Centre Training: Design Mart, 7+1 and advanced Kevin 5. The Project Management Fees System and Issues with the Bursary and Personnel ht a. The problem of debiting Project Management Fees to Center s account. ~ CfE charge project management fees from the sponsored projects since ~ This is one of the income source for CfE operating costs, the university tax 15% overhead from income except for the project that have been waived the overhead costs. ~ The generated income will be used in the future development and promoting activities of entrepreneurship. We had and will continue save in the Center s reserved operating account. 30

31 b. The Tender Board Incidents concerning Wilton, Mingles and Dominic c. Part-time hiring and Personnel 6. Providing Teaching Programs for the University. The Social Enterprise GE initiative Kevin ~ the General Education in Social Enterprise course will be conducted at Shaw College in coming September The course will be taught by Frances Ngai, Kevin Au and Mingles Tsoi. 7. AOB 31

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33 Appendix 7: Accounts Summary CUHK Center for Entrepreneurship 香港中文大學創業研究中心 Project Codes and Description - Accounts Summary Account Balance as of June 30, 2012 Account balance Item Project Code Project Name Description HK$ CfE Accounts The account was opened in June 2006, this is a matching 1 # CUHK Entrepreneurship Education and Research Fund grant account. Purpose for incoming donation, book report sales etc. Moreover, it handles general Center expenditure - like postage, stationery, telephone and fax line monthly bill. This is the subsidiary account of # , if there is any 2 # CUHK Entrepreneurship Education and Research Fund donation coming in but cannot fulfill the matching grant requirement, the lumpsum will deposit into this account 19, instead. This account mainly due with Research related I &E. 3 # CfE General Operation and Activities Support Fund This is the subsidiary account of # , CfE daily operating account, opened in June , Subtotal HK$ 406, HKSEC Accounts 4 # The account opend in March Sponsored by Home Hong Kong Social Enterprise Challenge (SEC) Affairs Bureau. Purpose for "Hong Kong Social Enterprise 2008 Challenge 2008" - (account closed in June 2012, B/L transfer to # ) Internship balance - 5 # Hong Kong Social Enterprise Challenge (SEC) The account opened in August Spsonored by Home Affairs Bureau. - (account closed in June 2012, B/L transfer to # ) Internship balance - 6 # Hong Kong Social Enterprise Challenge (SEC) The account opened in July Spsonored by Home Affairs Bureau. 64, Internship balance 7 # Hong Kong Social Enterprise Challenge (SEC) The account opened in August Spsonored by Home Affairs Bureau. 460, Internship balance. Subtotal HK$ 524, Project Accounts 8 # CUHK Center for Entrepreneurship General Support Funds Two years fund grant support from BA Faculty, major support for CfE administrative officer. (6,388.02) 9 # Accounting Workshop for Design & Creative Business The account opened in March Self funded Workshop 90, # HKSTP Business Plan & Business Model Consultancy Services for Incubatees The account opened in Sep Provide consultancy service to HKSTP Incubatees. 134, # Provision of Services for the Social Enterprise Training Program (at Practical Level) The account opend in October Funded by HAB to run the training for NGOs and people who like to practise SE. 2, # Re-Run Provision of Services for the Social The account opend in June Funded by HAB to re-run Enterprise Training Program (at Practical Level) the training for NGOs and people who like to practise SE. 137, # I-Care Programme - Social Enterprise Startup Grant The account opened in June Funded by CUHK Steering Committee for Promoting Personal Development through Social and Civic Engagement 200, # I-Care Programme - Social Enterprise Administration The account opened in June Funded by CUHK Steering Committee for Promoting Personal Development through Social and Civic Engagement 99, Subtotal HK$ 658, KTO Projects 15 # CU Alumni Entrepreneur Network KTO funded project. 246, # CU Alumni Entrepreneur Publication Series KTO funded project. 29, # Global Entrepreneurship Week Hong Kong (GEW HK) KTO funded project. 26, Subtotal HK$ 303, CASIE Projects 18 # VCCE Local Expenses CASIE funded project. 55, # VCCE Overseas Expenses KTO funded project. 78, Subtotal HK$ 133, Closed Accounts # APIB Financial Support Scheme - GEM 2007 The Publication of the GEM 2007 Study Report - The Summit of the Asia Pacific Consortium of The account opened in November For the event # the Successful Transgenerational related to STEP project and family business forum. Account - Entrepreneurship Practics (STEP) Project closed on June 30, 2011 # Initial Study on the Roadmap for Design Entrepreneur in Hong Kong The account opened in August Funded by Design Smart Initiative. - # Tolo Harbour Angel Network The account opened in February For Angel Network support group activities. - (account closed in June 2012, B/L transfer to # ) # Hong Kong Cyberport Creative Mircro Fund CCMF The account opend in June Provide event service, implement CCMF program, sposonored by Hong Kong Cyberport. - (account closed in June 2012, B/L transfer to # ) # Case Research Study - Noah Art Ltd The account opened in June (account closed in June 2012, B/L transfer to # ) Total Balance 2,026,