HSUHK x SCMP Entrepreneurship Challenge 2021

Wu Jieh Yee Centre for Innovation and Entrepreneurship

Department of Marketing & South China Morning Post

Introduction:

The HSUHK x SCMP Entrepreneurship Challenge 2021 (E-Challenge) is jointly organised by Wu Jieh Yee Centre for Innovation and Entrepreneurship (WUCIE), Department of Marketing (MKT) and South China Morning Post (SCMP).

 

The objective of E-Challenge is to encourage the participating teams to turn their innovative business concepts into implementable start-up business plans. The winning teams will receive a cash prize, a seed fund, mentorship support and access to co-working space to help them implement their business plans. Furthermore, a fast-track opportunity of CCMF – YEP, Cyberport (HKD 100,000) will be provided.

Theme of E-Challenge 2021:

New Opportunities under the New Normal

Phase 1

Innovation and Entrepreneurship Certificate Workshops

A series of workshops will be organized for participants to prepare for the E-Challenge 2021.  It provides knowledge and insights for the students to prepare the business concept statement and video for the competition.

  • Ver.2 Draft Poster - E-Challenge 2021 - Cyberport Training workshop (4 Mar 2021)

Topic: Kick-start your dream, Act on your passion!

 

(1) Introduction to Cyberport Entrepreneurship Programmes by:

Mr Steve Lam, Manager, Entrepreneurship, Cyberport

Mr Rex Lai, PIC, Cyberport Creative Micro Fund, Cyberport

 

(2) Sharing of Participants of Cyberport’s Young Entrepreneurship Programmes by:

Mr Ivan Wong, Founder and Director, Flowsophic

Mr Kenny Leung, Founder, IOT Solution

Company Profiles of the Start-ups:

 

Flowsophic

Flowsophic is an intelligent private tutorial service booking designed for Hong Kong students and their parents. Amid COVID-19, Ivan and his team observed that many students suffer from the delayed teaching schedule. Private tutoring is preferred as the alternative to formal education, but most tutorial centres do not have their information online. It is very difficult for students and their parents to search for the tutorial services that best suit their needs. Flowclass is designed to solve this problem directly. They believe that digital boundaries should never be an issue in the 2020s.

 

IOT Solution

IOT Solution Limited is a one-stop STEAM education solutions provider for primary and secondary schools with the aim to promote STEAM education. Arts, including humanity subjects and languages, is part of the STEAM education, which otherwise models around science subjects. The company offers a wealth of STEAM education resources, including a self-development coding language and platform, as well as the opportunities related to Artificial Intelligence and IOT applications. It also features a 13,000 sq.ft. STEAM VR for students to experience various technologies.

 

Mode: Zoom (Quota: 300)

Date: 4 March 2021 (Thursday)

Time: 4:00 pm – 5:00 pm

Language: Cantonese

1 ECA hour / 1 iGPS unit will be granted to the HSUHK students who have full attendance.

Please click HERE to register

Workshop 2 (4-hour session)

Topic: Creative Problem-Solving Skills

Mode: Zoom (Quota: 300)

Date: 20 March 2021 (Sat)

Time: 11:00am – 1:00pm & 2:00 – 4:00pm

More details and registration will be announced soon.

Workshop 3

Topic: Technical Applications for Start-ups

Mode: Zoom (Quota: 300)

Date: 24 March 2021 (Wed)

Time: 3:00-4:00 pm

More details and the registration link will be announced soon.

Workshop 4 (1-day session)

Topic: E-commerce, Brand Building, Social Media Marketing, Personal Branding

Mode: Zoom (Quota: 300)

Date and Time: 27 March 2021 (Sat)

Event details and registration will be announced soon.

Phase 2

Business Plan Competition

 

Details of the competition are as follows:

Eligibility:

  • All current HSUHK students are eligible to participate in the HSUHK x SCMP E-Challenge. Students shall form teams consisting of 2 to 6 members.
  • Students from other tertiary institutions/universities in Hong Kong are also welcomed to join this competition but the team leader must be a current HSUHK student.
  • Team members are expected to join at least one Innovation and Entrepreneurship Certificate Workshops offered jointly by WUCIE and SCMP or are current participants of the Pre-Incubation Programme offered by WUCIE.
  • Participants who have joined innovation and entrepreneurship-related training elsewhere might also be considered on a discretionary basis.
  • EACH student shall enroll in ONE team only.

Competition Stage 1:

 

All competing teams must submit their application via an online registration form with the submission of (a) a one-minute video about the business concept; (b) a business concept statement; and (c) the social media link & QR code for the “My Favourite Start-up Idea Award” (optional). The deadline for registration is on 14 April 2021 (Wednesday) 12:00:00 noon.  Late submission will only be considered at a discretionary basis.

 

(A) The One-minute video should be in form of an elevator pitch which can attract audience’s attention and should allow them to understand your business concept within a short period of time.

Format

  • Video length: Up to 1 minute long
  • Language: English or Chinese
  • File format: MP4
  • File size: Less than 200MB
  • Resolution: 720p

(B) Requirements of the Business Concept Statement:

  • Cover – Team Name / Project Title / Mission & Vision / Objectives / Team members
      • Maximum number of Pages: 3 (including cover, appendices, diagrams and tables)
      • Language: English or Chinese
      • Size of Paper: A4
      • Font Size: 12
      • File Name: Your team name
      • File Format: PDF
      • Header: Show the team name on the top right-hand corner of the header

Coverage: the business concept statement must comprise the following sessions

  • Introduction about the business concept
  • Identification of the need(s), problem(s), or market gap
  • Description of the solution(s)
  • Description of the innovative element(s)
  • Proposed business model
  • Target market
  • Founding (management) team and network

(C) Teams have to submit the social media link & QR code for the “My Favourite Start-up Idea Award”. (Optional)

The requirements for competing for this Award are as follows:

  • Social media platform: e.g. Instagram, Twitter, Facebook, etc.
  • Number of the post(s): At least ONE
  • Social media account: The teams are recommended to launch a new page in social media platforms for this award
  • Format of the posts e.g. texts, photos, videos, etc.
  • Access: The promotion must be set for public viewing

The details are shown in #MY FAVOURITE START-UP IDEA AWARD.

You can get access to useful references of business planning from the website of HSUHK Library as follows:

Picture1

Stage 2:

 

Normally up to five teams will be shortlisted for Stage 2 by a panel of adjudicators. Results will be announced by 22 April 2021 (Thursday) on WUCIE website.

 

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

 

Before the final presentation, WUCIE would pair up each shortlisted team with a mentor who will provide them with further guidance for enhancing their business plan.

 

Further details about the final presentation will be announced in due course.

Presentation on the Entrepreneurship Day:

The shortlisted teams will present their start-up business plans on the Entrepreneurship Day (E-day), which is tentatively scheduled on 28 May 2021 (Friday). Entrepreneurship Day is another key annual activity of WUCIE during which you will have an opportunity to meet prominent business leaders, investors, alumni entrepreneurs, and other student entrepreneurs.

During that day, the finalists of the HSUHK x SCMP E-Challenge will have the opportunity to pitch their business plans to a panel of adjudicators comprising experienced entrepreneurs, senior executives and investors.

Each team will have 10 minutes for presentation, followed by a 10-minute Question & Answer session. It is not compulsory for all team members to present, but every member is required to participate in the whole event.

Final results of the Competition will be announced on the Entrepreneurship Day.

Owing to the pandemic, the training programmes and events might be held online or in a mixed-mode format.  Further details about the exact arrangement will be announced in due course.

Timeline for E-Challenge and E-Day 2021

Date

Programme
February 2021 onwards Registration for workshops of HSUHK x SCMP Entrepreneurship Challenge 2021
March 2021 Online / Mixed mode Innovation and Entrepreneurship Certificate Workshops
14 April 2021 Deadline for registration and submission of the One-minute Video, the Business Concept Statement and the Social Media Link and QR code for the “My Favourite Start-up Idea Award”
19 April 2021 The email for the voting of “My Favourite Start-up Idea Award” will be sent to all students and staff in HSUHK
22 April 2021 Announcement of the shortlisted teams for the final round on the E-Day.
21 May 2021 Deadline of voting of “My Favourite Start-up Idea Award”
24 May 2021 Deadline for the shortlisted teams to submit the 2nd round presentation documents and videos to WUCIE
28 May 2021 Venue: A401 and/or Zoom

Online / Face-to-Face Pitching – Final presentation

Announcement of the awards and winning teams

Awards and closing ceremony on the Entrepreneurship Day.

*The organising committee reserves the right of rescheduling the timetable and notification period.

AWARD

Prize Cash Award Seed Fund
Champion HKD 30000 HKD 50000
1st Runner-up HKD 20000 HKD 30000
2nd Runner-up HKD 15000 HKD 20000
My Favourite Start-up Idea Award # HKD 5000 N/A
Technological Innovation Award ** HKD 5000 N/A

The winning teams will be eligible for joining the Pre-Incubation Programme offered by WUCIE. Throughout this programme, they will be eligible to use the co-working space of WUCIE for a fixed period (normally 9 months), participate in a series of start-up training workshops, join various networking activities, and receive mentoring from experienced practitioners.

 

The winning teams are also eligible for early admission to the Master of Science in Entrepreneurial Management. Cyberport would also provide the  fast-track opportunity of CCM – YEP (HKD100,000).

SEED FUND

A seed fund will be provided to the awardees on a reimbursement basis. Submission of proof of expenses, i.e. receipts or invoices, to WUCIE is required for using the fund allocated to them.

The awardees have to sign an agreement with WUCIE to ensure that they will use the seed fund prudently, efficiently and solely for the project approved under WUCIE.

# MY FAVOURITE START-UP IDEA AWARD 

All participating teams of the E-Challenge are eligible for this award. The winning team will be awarded a cash prize of HK$5,000. To compete for this award, each team has to promote their start-up ideas by launching a social media campaign.

 

The relevant link(s) and QR code(s) should be submitted through the online registration for preparing a joint announcement to the voters.  Participation in this award competition is optional but late submission is not allowed.

 

The voting e-form will be sent to all students and staff in HSUHK on 19 April 2021. All students and staff members with a valid HSUHK email account are eligible to cast a vote for their favourite start-up idea within the period from 19 April to 21 May 2021. The team which receives the highest number of votes will be the winner for this award.

 

The final result of “My Favourite Start-up Idea Award” will be announced during the Entrepreneurship Day 2021.

**TECHNOLOGICAL INNOVATION AWARD

This award aims at encouraging the competing teams to make use of technological and innovative ideas when developing their business concept.  The team should demonstrate their technological know-how and their capability to apply it to their product and/or service.  Only the finalist teams are eligible for this award.

 

Judging criteria

  • Innovativeness
  • Technological Viability
  • Potential Impact
  • Commercial Feasibility
  • Sustainability

Panel structure: The final round adjudicators of E-Challenge 2021

The result of “Technological Innovation Award” will be announced during the Entrepreneurship Day 2021.

Participants’  Benefits

  • The ECA / iGPS hours will be awarded to the participants for the E-Challenge activities and the competition.
  • Attendance Certificate will be provided to the students attend the E-Challenge workshops at 75% or above with participation in the E-Challenge Competition. A one-year SCMP weekend subscription will be provided to those have enrolling the E-Challenge Competition successfully and completing the registration procedures with SCMP.

RULES AND REGULATIONS OF HSUHK x SCMP E-CHALLENGE

  • The team leader must be a student who is currently studying at the Hang Seng University of Hong Kong. He/She is a contact person and responsible for ensuring the team to submit all necessary information as requested by WUCIE, on or before the stated deadlines.
  • Each student is 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 submission must not contain any unauthorised use of copyrighted or proprietary materials of any person or entity or content violating the law of HKSAR. Any form of plagiarism will result in an automatic disqualification. Use of thoughts or work of another source must be properly referenced.
  • The video content of the elevator pitch must not infringe on any third-party rights (logos, music, intellectual property, etc.)
  • The video must not contain obscene, violent, pornographic, defamatory, objectionable, insulting or any of the controversial and inappropriate content
  • All participants are required to abide by the rules and regulations of the HSUHK x SCMP Entrepreneurship Challenge 2021. WUCIE retains the right to determine the team’s participation qualification.
  • WUCIE reserves the right to modify the competition context at any time without prior notice and to disqualify any team that violates the rules, conditions or spirit of the Competition. In case of any disputes, the decision made by the organiser shall be final and conclusive.
  • The decision of the organising committee is final. The organising committee reserves the right to reject any application submitted for Competition and the right to interpret, amend, supplement the terms and condition in the guidelines.

IMPORTANT NOTE

  • By submitting a business plan, the teams agree to share their information to WUCIE for publicity and communication media in HSUHK. For materials that are highly confidential and proprietary, the team should make special note to WUCIE for special handling of such information.
  • Photos & videos taken during the events will be used in promotion & media coverage by WUCIE, SCMP and HSUHK.
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