INTRODUCTION:

HSMC Entrepreneurship Challenge 2018 (HSMC E-Challenge) is an entrepreneurial idea competition organised by the Wu Jieh Yee Centre for Innovation and Entrepreneurship. It aims at encouraging HSMC students to transform their innovative ideas into entrepreneurial start-up actions. Innovative ideas in technological, commercial, creative and social domains are welcomed.

DETAILS OF THE COMPETITION:

Eligibility:

All current HSMC students are eligible to participate in the HSMC Entrepreneurship Challenge 2018. In order to participate in it, students shall form teams of 2 to 6 members. Each student shall enrol in one team only.

 

Competition Flow:

First Phase:

All teams shall first submit the application for participation via an online registration form with also a business concept statement.  The deadline for completing the online registration and submitting the business concept statement on 16 March 2018 (Friday) 23:59:59. Late submission will only be considered as the discretion of the Centre.

 

Submission Format of the Business Concept Statement:

Language: English or Chinese

Page Limit: 1 page only

Size of Paper: A4

Font Size: minimum font size 12

File Name: use the team’s name

File Format: PDF

Header: show the team’s name on top right-hand corner of the header

Coverage: each business concept statement shall comprise the following sections:

1. Description of the business idea and its product / service
2. The targeted / intended market
3. Benefits of the product / service
4. Description of the positioning of the new venture or its product/service
5. A brief description of the management team

 

Second Phase:

Up to five teams will be shortlisted for the second phase. The result will be announced by 23 March 2018 (Friday).

For fairness, significant changes of the business nature and the focus of the business concept are not allowed in this phase. The shortlisted teams will be required to further elaborate their business concept statement into a full start-up business plan in form of a PowerPoint presentation (no written business plan is required).

Before the final presentation, the shortlisted teams will be mentored by an experienced practitioner to enhance their business concept.

A one-page summary of business plan in pdf format AND the start-up business plans in PowerPoint format should be submitted to the Centre by 9 April 2018 (Monday).

 

(3) Presentation in the Entrepreneurship Day:

The shortlisted teams will present their start-up business plans in the Entrepreneurship Day which is tentatively scheduled on 13 April 2018. The Entrepreneurship Day is another key annual activity of the Centre. During the event, prominent leaders will be invited to share about their views about entrepreneurship. Also, the finalists of the upcoming HSMC Entrepreneurship Challenge will also present their business ideas to a panel of adjudicators during that day.

Each team will have 10 minutes for presentation, followed by a 10-minute Question & Answer session.

It is not compulsory to all team members to present, but every member is required to participate in the whole event. All team members shall attend the presentation.

Final results will be announced in the Entrepreneurship Day.

AWARDS:

The winning teams will be awarded with a seed fund to further develop their business plans:

• Champion Award: Seed Fund of HK$50,000
• Two Runner-up Awards: Seed fund of HK$20,000 for each team

Also, the winning teams will be eligible for joining the Pre-incubation Programme offered by the Centre. Throughout this programme, they will be eligible to use the Co-Working Space of the Centre for a fixed period (approximately 10 months), granted access to the facilities of the Centre, and receive mentorship from experienced practitioners.

 

SEED FUND:

• The seed fund will be provided to the awardees on a reimbursement basis. Submission of proof of expenses, i.e. receipts or invoices, to the Centre is required for using the fund allocated to them.
• The awardees have to sign an agreement with the Centre to ensure that they will use the seed fund prudently, efficiently and solely for the project approved under the Centre.

 

 

RULES AND REGULATIONS:

• Each team must assign a team leader. The team leader is a contact person and is responsible for ensuring that the team submits all necessary information as requested by the Centre, on or before the stated deadlines.
• Each student is only eligible to join one team only. Teams will be disqualified if any team member(s) participate(s) in more than one team.
• No change of team composition will be allowed once the registration process is completed except in unavoidable circumstances.
• All submissions must be the team’s original work. Plagiarism is NOT allowed.
• The development of product(s) and / or service(s) will not infringe the rights or intellectual property rights of any other parties (whether registered or not), including but not limited to patent rights, trade mark rights, and copyrights.
• All participants are required to abide by the rules and regulations of the HSMC Entrepreneurship Challenge 2018. The Wu Jieh Yee Centre for Innovation and Entrepreneurship retains the right to determine the team’s participation qualification.
• The Wu Jieh Yee Centre for Innovation and Entrepreneurship reserves the right to modify the competition context at any time.

FOR REGISTRATION:

Register for application and submit the business concept statement on or before 16 March 2018 (Friday) by completing the following online form: https://goo.gl/forms/nZ8YHQYMQcJJluC32 or by QR code:

 

Please feel free to contact Ms Esther Woo for any enquiries via email cie@hsmc.edu.hk or by phone 3963 5059.