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In recent years, many Hong Kong enterprises are eyeing on the booming ASEAN market. Among them, Vietnam is one of the fastest-growing emerging economies with great potential. In this seminar, an expert will give an overview on the Vietnamese market, latest market information, preferential policy and share the advantages of doing business there. An enterprise representative will also be invited to share the practical experience of setting up production base in Vietnam and challenges they encountered. Language: CantoneseSpeaker:Mr Thomas Chiu, Partner, Paladin ASEAN Consulting LimitedDr Alfred Ng, Executive Director and Chief Technology Officer, SUGA International Holdings Limited Note:This seminar will be live-streamed. The link will be sent to registered participants via email separately.
(Please refer to the Chinese version)
Sharing of Greater Bay Area entrepreneurial policies and entrepreneurial experience.
Traditional marketing has evolved with MarTech applications to capture the sentiments and insights from the market to improve businesses or open new markets. In this session of our InnoPreneur Forum series, we are delighted to join hands with the Hong Kong Institute of Marketing (HKIM) to dive deep into this technology, which is essential to every company.
“There could be mountains ahead to climb, yet you need to give it a try.” Ian is the founder of Rock-Solid Engineering Construction Company Limited, a company which provides scaffolding service. He believes that it is essential for entrepreneurs to embrace challenges. At the initial phase of his business, for instance, he had been active in networking activities to search for clients. Although there were challenges posed by the epidemic, he continued to be committed and did not give up his business. For interested young people, Ian advises them that the keys to success are to understand one’s characteristics and to have courage even in face of difficulties. Let’s watch the video below to learn more about Ian’s entrepreneurial story. (The video is broadcasted in Cantonese) The project is launched with the support from The Hong Kong Federation of Youth Groups “Youth Business Hong Kong” scheme. The scheme provides financial and other practical supports to young people to attain their goals. Please visit the official website for more details on application.
(Please refer to the Chinese version)
What is the FinTech Anti-epidemic Scheme for Talent Development (FAST)? FAST is one of the job creation schemes established under the Hong Kong Special Administrative Region (HKSAR) Government’s Anti-epidemic Fund to support local industries affected by the COVID-19 pandemic. FAST is administered by Hong Kong Cyberport Management Company Limited (HKCMCL), which is wholly owned by the HKSAR Government. The programme provides financial assistance to local companies engaged in the FinTech sector to create new jobs. The Scheme has a quota of 1,000 new roles with a total subsidy of up to HK$120 million. FAST aims to create new job opportunities in the FinTech sector and enrich Hong Kong’s FinTech talent pool in order to enhance the city’s competitive edge and reinforce its position as a leading international financial centre. How does FAST support FinTech companies? Each successful FinTech applicant company will be provided a subsidy of HK$10,000 per month to create a job position related to the major business of the company. The subsidised period could be up to 12 months between 2 July 2020 and 2 July 2022. Successful applicant companies will be disbursed a payment equivalent to the subsidy for the first three months upon the approval of the application and the submission of the employment contract. Subsequent subsidy payments will be made in advance every three months thereafter.
(Please refer to the Chinese version)
“There is a chance if you try and none if you don’t.” Mickey is a cosplay lover. He noticed that the cosplay culture lacked popularity in Hong Kong and decided to start a business in the field. With the support from his family, he founded the “Cos&Play Studio” to organise regular programmes and activities on cosplay costumes and props making. The Studio also provides a space for networking and workshop rental. Mickey believes that it is essential for an entrepreneur to have faith and step forward to realise one’s dream without hesitation. Let’s watch the video below to learn more about Mickey’s entrepreneurial story. (The video is broadcasted in Cantonese) The project is launched with the support from The Hong Kong Federation of Youth Groups “Youth Business Hong Kong” scheme. The scheme provides financial and other practical supports to young people to attain their goals. Please visit the official website for more details on application.
“GP, LP” Definition: The help from a venture capital fund (VC) may be needed for business development during the prototype stage of a start-up. A VC is formed by GPs (General Partners) and LPs (limited partners). GP (General Partner): A GP is responsible for the practical operation of a VC which include planning investment directions and recruiting LP to provide funding. When sufficient funding is raised, a GP will search for investment projects and “add value” to the selected ventures, such as expanding their network. A GP is entitled to receive a 1.5-2.5% management fee on an annual basis from the total investment of the VC. When the VC withdraw from a profited investment, a GP may receive a share profit of over 20% of the investment return; if the investment of the VC recorded a good performance, a GP may even receive an amount of 30% or more. The shared amount is also called carried interest. LP (Limited Partner): A LP is mainly an institutional investor. Usually he/she is required to identify himself/herself under the “Securities and Futures (Professional Investor) Ordinance”, which means he/she owns an investment portfolio of not less than HK$8 million (please refer to the webpage of Investor and Financial Education Council for more information). More information: The limited partnership fund (“LPF”) regime is introduced on 31 August 2020 to attract investment funds (including private equity and venture capital funds) to set up and register in the form apart from limited partnership in Hong Kong. An eligible fund should have one general partner and at least one limited partner. The LegCo has also passed a bill in April 2021 to provide tax concessions for carried interest distributed by eligible private equity (“PE”) funds operating in Hong Kong. For more information on VCs, please visit Startmeup.hk. Source: Innovation and Technology Bureau HK Facebook Page, Company Registry, news.gov.hk Published by the Innovation and Technology Bureau HK Facebook Page, the “Inno-dictionary” series aims to facilitate startup newbies to understand the jargons related to entrepreneurship as well as innovation and technology.
(Please refer to Chinese version)
"Series A, B Investments" Definition: Series A investment usually refers to the first investment a startup received from institutional investors after the stage of seed / angel investment. The startup would have developed a product prototype at this stage, yet it may usually generate limited revenue or zero profit. Series B investment refers to the second investment received from institutional investors. The startup would usually expand its business or market share, and develop a better business and profit model. Nevertheless, the definitions of Series A and B investments vary across industries and areas, and may change according to market conditions. More information: HKSTP Ventures and Cyberport Macro Fund provides investments to nurture early-to-growth stage startups. As announced in the 2021-22 Budget, $350 million and $200 million will be injected into the two Funds respectively and their scope will be extended to cover Series B and later stage investments. For more information on institutional investors, please visit Startmeup.hk. Source: Innovation and Technology Bureau HK Facebook Page Published by the Innovation and Technology Bureau HK Facebook Page, the “Inno-dictionary” series aims to facilitate startup newbies to understand the jargons related to entrepreneurship as well as innovation and technology.
“Angel Investors” Definition: “Angel Investors” are people who provide angel investments to potential startups. Angel investors provide not only funding but also business networks and operational experiences and advices to startups. Etymology: Why would the term “angel” be used for “angel investors”? The jargon “angel” originally comes from the Broadway theatre, which was used to describe investors for theatrical productions. In 1978, Professor William Wetzel in the U.S. began using the word “angel investors” to describe individuals who provide funding support for startups. More information: Investment Matching Gatherings (IMGs) are held frequently by Hong Kong Science & Technology Parks and Cyberport to connect angel investors and entrepreneurs. For more information on angel investors, please visit Startmeup.hk. Source: Innovation and Technology Bureau HK Facebook Page Published by the Innovation and Technology Bureau HK Facebook Page, the “Inno-dictionary” series aims to facilitate startup newbies to understand the jargons related to entrepreneurship as well as innovation and technology.
Hong Kong International ICT Expo provides an ideal platform for ICT solution providers to meet with over 34,000 visitors from 137 countries and regions looking for the latest solutions to help their business grow. A record number of 610 exhibitors from 14 countries and regions were featured at the 2019 event, including group representations from Canada, France, India, Korea and the Mainland China. The Expo will showcase cutting-edge solutions including Smart Mobility, Smart Living, Smart Environment, Smart People, Smart Government and Smart Economy. Providing a great platform for exchanging innovative concepts and current technologies as well as connecting Governments and related organisations with IT companies, Startups, Research Centres and Universities.
Wish to start your own business? The Youth Development Commission has rolled out the “Funding Scheme for Youth Entrepreneurship in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA)” under the “Youth Development Fund”, which aims at providing a capital subsidy of up to HK$600,000, as well as entrepreneurial support and incubation services that befit the needs of young people who are about to start their businesses in Hong Kong and Mainland GBA cities. Read the following easy guide to learn more details of the scheme. Eligibility criteria#: Youth aged between 18 and 40 Hong Kong permanent resident Start-ups that have not been in operation or have been in operation for not more than 3 years Business registration in Hong Kong Having a planned/established business in Hong Kong and/or Mainland GBA cities (start-ups may set up their business in Mainland GBA cities and/or in Hong Kong)#Individual NGOs may prescribe additional application conditions. Please refer to the project details of the relevant NGOs. Funding Amount: Each start-up may receive a capital subsidy of up to HK$600,000 Entrepreneurial support and incubation services*: Assistance for settling entrepreneurial bases in Hong Kong and Mainland GBA cities Entrepreneurial guidance and business know-how Professional consultation services Business networking Market and supply chain development services Concessionary and facilitative measures for youth start-ups in various cities*Each youth entrepreneurship project lasts for a maximum of 3 years Application Method: A total of 16 non-governmental organisations (NGOs) are funded under the scheme to implement youth entrepreneurship projects. Individual funded NGOs may further prescribe additional requirements for applicants (such as business nature, affiliation with the institutions, etc.). Interested applicants may refer to the We Venture website. You may also watch the following video for more information of the Scheme:
It’s easy to start your own business with Cyberport! The Cyberport Academy has launched a new online platform which connects the world's top technology learning resources and offers a wide range of enrichment courses, training programmes and internship opportunities for students, teachers, youth, entrepreneurs and practitioners from all walks of industries. Check out the four useful resources below from the platform! Free Online Learning Tools Provided in Partnership with World Class Platforms The Academy partners with global technology giants AWS, IBM and Microsoft to offer a free online learning portal "AIM for Students". Secondary school students and university students can keep themselves updated with latest technology trends and knowledge, while teachers can embrace EdTech by utilising the platform to create an interactive learning environment. Free Online Entrepreneurship Learning Platform The online portal is connected to the Startup School of Y Combinator, a leading start-up accelerator in the United States. Start-ups can get chances to connect with internationally renowned start-ups such as Airbnb, Stripe and Coin base, and get access to free entrepreneurial advice and consultations. Certificate courses and workshops Provide recognised training programmes and courses including accredited programmes, special short courses, seminars, workshops, delegations, etc. The programmes cover areas in innovation and technology including FinTech and Smart Living with the aim to provide students with credible qualifications and level hierarchy recognition. Talent cultivation programmes Cyberport Academy provides internships and career opportunities, including collaborating with faculties in various tertiary institutions and encourages university students to participate in multi-disciplinary credit-bearing externship programmes to gain hands-on experience in managing start-ups. There are also internships and entrepreneurial activities such as Cyberport Digital Tech Internship Programme and Cyberport University Partnership Programme. The Academy also holds annual Career Fair to further connect the I&T industry with job seekers and cultivate tech talents. Please stay tuned for the latest updates on the official website of Cyberport.
This story is only availble in Chinese.
ONLINE + PHYSICAL FORMATSIntegrating seven HKTDC trade fairs originally scheduled for spring 2021, the HKTDC International Sourcing Show will run from March to July 2021 in both online and physical formats, offering a flexible arrangement for businesses to explore and identify opportunities across various industries. 17/3 – 29/7/2021 ONLINE26/7 – 29/7/2021 HKCEC (PHYSICAL FAIR) MARCH ONThe HKTDC International Sourcing Show | ONLINE is a showcase of products, ideas and information that can readily be transformed into ‘Your Source of Inspirations’ - the central theme of the show. Through the integrated online experience, buyers and suppliers can explore, share and connect in effective ways to ensure sustainable business growth.
Do you know how to protect your startup ideas from copycats with intellectual property (IP)? We will share with you information on IP and trademark in this article, and more on registered designs, patents, copyright and trade secrets in the next article. Q: What is IP and how do I protect it? A: 'IP' or 'intellectual property' is (a term that describes) a range of rights in different aspects of your business and your products. The most common IP rights are trade secrets (undisclosed commercial information), copyright, registered designs, patents and trademarks. Q: What is a trademark? A: A trademark is a sign that distinguishes the goods and services of one trader from those of others. Typically a trademark can be words (including personal names), indications, designs, letters, characters, numerals, figurative elements, colours, sounds, smells, the shape of the goods or their packaging or any combination of these. A sign must be capable of being represented graphically in order for it to be registered as a trademark. Q: Do you Know the Differences among Company Registration, Business Registration and Trademark Registration? A: A company name registration at the Companies Registry or a business name registered with the Business Registration Office is not the same as a trademark registration at the Trade Marks Registry. A business or company name registration is not an indication of trademark rights. Having registered a company name with the Companies Registry or a business name with the Business Registration Office, you are still required to apply for registration of your trademarks with the Trade Marks Registry. Only the registered trademark owner has an exclusive right to use the trademark in relation to the goods and services in the Hong Kong SAR for which the mark is registered. Watch the video below to learn more about the effective use of registered trademarks in maximising brand values. (Available in Chinese only) Source: Intellectual Property Department “Startup How-tos” is an introductory guidebook written for entrepreneurship newbies, providing startup tips and related public services information.
The article “Startup Howtos: Do entrepreneurs need to pay attention to IP? (I)” has gathered information on IP and trademark for protecting your own business and products. Go ahead to check out more information on registered designs, patents, copyright, trade secrets and unleash your brand value! Q: What is a registered design? A: The individual designs of a wide range of products, for example computers, telephones, textiles, jewellery and watches, can be protected by registration of their designs. A registered design owner has the right to prevent others from manufacturing, importing, selling or hiring the registered design product. Registered design protection is renewable for a maximum of 25 years. Q: What are patents? A: Patents protect inventions, that is products, substances, or processes which are new and inventive. Patent owners have the right to prevent others from manufacturing, using, selling, or importing the invention. There are two types of patents in the Hong Kong SAR. Protection under standard patents is renewable for a maximum of 20 years. Protection under short-term patents is renewable for a maximum term of eight years. Q: What is copyright? A: In general, copyright is the right given to the owner of an original work. This right can subsist in literary works, musical works, dramatic works, artistic works, sound recordings, films, broadcasts, cable programmes and the typographical arrangement of published editions of literary, dramatic or musical works, as well as performers' performances. Copyright works made available on the Internet environment are also protected. It is not necessary to register a copyright in the Hong Kong SAR, in order to get protection under the law of the Hong Kong SAR. Q: What is Trade Secrets and undisclosed Commercial Information? A: Trade secrets and undisclosed commercial information are confidential information in a commercial setting, such as formulaes, methods, technologies, designs, product specifications, business plans and client lists, that have commercial value. Watch the two videos below to learn more about how to explore business opportunities through licensing and patent commercialisation. (Videos are available in Chinese only) Source: Intellectual Property Department “Startup How-tos” is an introductory guidebook written for entrepreneurship newbies, providing startup tips and related public services information.
Social Entrepreneur – Dawning Leung “The true meaning of equality and inclusion is not to arrange a dedicated session for the visually impaired, but to make it possible for them to take part in the same activity with their sighted counterparts.” Dr Dawning Leung, the founder of Audio Description Association (Hong Kong) (AuDeAHK), believes that persons with visual impairment should enjoy the equal rights to “watch” movies, to “view” exhibitions as well as to join various cultural and outdoor activities. To study audio description, Dawning left for the United Kingdom to acquire a relevant Doctorate degree. In 2015, she founded AuDeAHK to promote audio description and to train audio describers in the Chinese societies. What is audio description? According to Dawning, it is a school of professional translation technique of transferring visual elements into verbal descriptions. In film audio description, for instance, audio describers will depict the scene settings and the characters’ moves, facial expressions, outfits etc. in between dialogues and sound effects. The visually impaired may hence comprehend the plot by hearing rather than by watching. Audio description benefits not only persons with visual difficulties. Everyone can obtain supplementing information from the translated visual contents. For example, children with special educational needs may understand the emotions of characters through audio description. “I recalled a lady wearing a pair of reading glasses who followed our audio described tour in a museum. Towards the end of the tour, she took off the glasses and said, ‘I’d rather listen to your narratives!’” Innovative Venture – Film Audio Description Services, Audio Description Services for Outdoor Activities, Audio Description Services for Museums The innovative venture mentioned above is funded by the Social Innovation and Entrepreneurship Development Fund and assisted and supported by the Fund’s intermediaries in project implementation. The details of the innovative venture are as follows: Name of Organisation: Audio Description Association (Hong Kong) Limited Service nature: Community Participation Beneficiary group: Persons with disabilities Project type: Prototype Intermediary Programme: Impact Incubator , Good Seed What is Social Entrepreneur Series? Stories of how other social entrepreneurs aspired to start their own business might facilitate your social innovation and entrepreneurship exploration. A series of social entrepreneur stories will be featured and categorised into six sub-series: Education and Learning, Job Training and Opportunities, Community Participation, Healthcare, Food and Transport. What you are going to read are stories of social entrepreneurs taking forward the startup projects that help themselves and others.
You may be experienced in writing essays and homework reports, yet how about writing business plans for your own company? You may make reference to the writing tips and templates below for developing a detailed business plan to assist the entire planning process of starting a new business as well as to pitch and apply relevant startup funds. Content Outline Objectives and Goals Industry Overview Competitors／Market Positioning Description of Products and Services Marketing Strategies, Pricing and Promotion Strategies Financial Planning Contingency Planning Company Structure and Background of the Management Team Writing Tips Make your business plan user-friendly, easy to read and understand. Use figures, percentage and quantifiable information along with descriptions and interpretations. Tailor your business plan for specific reader. For instance, you should focus on cash flow adequacy for banks and potential return with payback period for investors. Follow a complete structure to present your business in an organised way. Include a general market overview / market analysis to show your understanding of the industry and your business position. Emphasise your business uniqueness, strengths and competitive advantages. Develop realistic but aggressive projections, explain use of fund and expected payback period. Complete all the sections of a business plan first, then put all the highlights in the Executive Summary concisely. Review and edit before presenting it. Business Plan Template Illustrative Business Plan Source: SUCCESS “Startup How-tos” is an introductory guidebook written for entrepreneurship newbies, providing startup tips and related public services information.
Looking for a greater stage to showcase your innovative ideas? The 7th Hong Kong University Student Innovation and Entrepreneurship Competition is open for application. You may form teams with post-secondary students and graduates from other institution and winners will have the chance to participate in national innovation and entrepreneurship competitions. Organised by Hong Kong New Generation Cultural Association, and co-organised by Hong Kong Science & Technology Parks Corporation with the support from Innovation and Technology Commission, the Competition has set up two individual streams, namely Innovation and Entrepreneurship. Participants are required to submit research thesis, invention or PowerPoint and proposals to present their project ideas on a wide spectrum of topics ranging from science and information technology to education and culture. Current students of Hong Kong’s full-time post-secondary programmes are eligible for the Competition; projects from graduates who graduated in the past 5 years or Cooperative Projects from teachers and students are also eligible for the Entrepreneurship stream. Registration is open from today till 31 March 2021. For further details on the Challenge and registration method, please visit the official website.
Social Entrepreneur – Kristen Li Persons with disabilities (PWDs) are facing barriers to learning in general. Learning aids do exist but with the prevalent “one size fits all” philosophy they often cannot cope with specific needs of individuals. Ask the right question; devise the valid solution; solicit the proper support for implementation. This is how Kristen Li and her team put social innovation into practice and won the championship of a social enterprise competition. Kristen saw the market need for custom-designed training and tapped the opportunity. Together with her colleagues, she set up the Barrier-Free School. They used what they had learnt in school and established an IT platform which provides PWDs with three-in-one "training - job matching - career support" service. Through tailor-designed training softwares, PWDs acquire the skills fit for employment with remunerations on par with able persons. The Barrier-Free School is contributing to social inclusion of the disabled in the long run. Innovative Venture – Barrier-Free School The innovative venture mentioned above is funded by the Social Innovation and Entrepreneurship Development Fund and assisted and supported by the Fund’s intermediaries in project implementation. The details of the innovative venture are as follows: Name of Organisation: Barrier-free Technology and Culture Limited Service nature: Education and learning Beneficiary group: Persons with disabilities Project type: Prototype Intermediary Programme: Good Seed What is Social Entrepreneur Series? Stories of how other social entrepreneurs aspired to start their own business might facilitate your social innovation and entrepreneurship exploration. A series of social entrepreneur stories will be featured and categorised into six sub-series: Education and Learning, Job Training and Opportunities, Community Participation, Healthcare, Diet and Transport. What you are going to read are stories of social entrepreneurs taking forward the startup projects that help themselves and others.
The Hong Kong Federation of Youth Groups (HKFYG) Social Innovation and Youth Business Unit is going to organise the “Youth Entrepreneurship Training Course”. Not only half of the tuition fee will be refunded to participants with an attendance of 80% or above, but a post-course Business Plan Competition will also be held with prizes up to HK$5,000! The course contents will cover finance, lease management and tax, online marketing strategies and brand building, customer relationship management etc. Entrepreneurs will also be invited to share their startup experiences. At the end of the course, participants may join the Business Plan Competition for a grand prize of HK$5,000. The second term of the Course will be held from March to April 2021. The deadline of registration is March 10, 2021. The total course fee is HK$1,000. Participants with an attendance of 80% or above may receive HK$500 refund in a month after the completion of the Course along with a course certificate. Please visit the official website for further details on course content and registration method. Date: March to April 2021 Lessons: A total of 8 Lessons (An extra lesson: Business Plan Competition) Time: 7pm to 10pm Venue: Room B-E, 11/F, Genesis, 33-35 Wong Chuk Hang Road, Hong Kong Target: Aged 18-35, youth interested in entrepreneurship Language: Cantonese
(Image designed by student of Hong Kong Design Institute) On the road to entrepreneurship you may come across to different kinds of challenges: which funding scheme is more suitable for me? How to avoid legal traps in business? No worries, the four consultation services below offer professional advice for free to all your queries about entrepreneurship. Support and Consultation Centre for Small and Medium Enterprises (SUCCESS) - "Meet-the-Advisors" Business Advisory Service SUCCESS provides business starters with not only information on setting up business in Hong Kong, but also free "Meet-the-Advisors" Business Advisory Service. Entrepreneurs encountering problems relating to the starting and running of a business can consult experts on their opinions. Youth Employment Start” (Y.E.S.) - Professional Consultation Service Y.E.S. is set up to provide one-stop employment and self-employment support services to young people aged between 15 and 29. To assist business members to tackle their business problems in legal and accounting fields, meetings with qualified lawyers and accountants will be arranged to obtain professional advice. Hong Kong Productivity Council (HKPC) - SME ReachOut A dedicated service team entitled "SME ReachOut" would support startups through face-to-face meetings to help identify suitable funding schemes, while answering questions relating to applications. The goal is to enhance startup's understanding of the Government's funding schemes, with a view to encouraging better utilisation of the support provided by the Government. Hong Kong Trade Development Council (HKTDC) SME Support - SME Advisory Service The HKTDC SME Advisory Service provides one-to-one free business advisory service, which covers a wide spectrum of areas such as tax issues, business law, operation of the letter of credit, up-to-date information for new business start-ups, logistics, branding strategy for cultural industry and e-commerce. Source: SUCCESS, Y.E.S., HKPC, HKTDC “Startup How-tos” is an introductory guidebook written for entrepreneurship newbies, providing startup tips and related public services information.