Result Announcement – Our 1st Cohort Pre-Incubatees
The First Mover
The pre-incubation programme (PI Programme) is a 9-month programme for supporting HSMC aspiring entrepreneurs to realise their new venture ideas. Its objectives are to:
- Assist HSMC aspiring entrepreneurs to further develop their business ideas into new ventures;
- Provide mentorship to HSMC aspiring entrepreneurs so that they can be qualified for external incubation programmes or investment; and
- Extend the social network of HSMC aspiring entrepreneurs.
Students shall participate in the PI Programme as teams. Each team will be assigned with a mentor who will meet the team and provide mentorship support to them from time to time. The teams are required to participate in a number of specific training sessions and workshops offered by WUCIE as well as a range of other activities including guest speaker talks, field trips, networking events, and pitching activities etc. They are also required to submit interim progress reports on a regular basis as well as a final report. The teams are also eligible to use the co-working space offered by WUCIE to work on their venture ideas. Upon successful completion of the PI Programme, they will be awarded with a Certificate of Completion and may be recommended for joining the incubation programmes offered by other business incubators in Hong Kong or in the overseas.
All current students in HSMC are eligible to apply for the PI programme. Each application should be made as a team with 2 to 6 members. Each student shall join one team only. Alumni are also welcomed to apply with at least one team member being a current HSMC student.
Application and Screening Process
Application shall be made to WUCIE with the submission of a business concept statement, together with a goal statement, subject to fulfilling one of the following conditions:
- If you are finalists of HSMC Entrepreneurship Challenge or awardees (Merit or Excellence) of HSMC Innovation Project Competition, you can provide us with the original business plan/proposal submitted for the respective events together with a goal statement. There is no need to submit a new business concept statement.
- If you are finalists of one of the external entrepreneurship and innovation related competitions, you shall submit your finalist certificate, the original business plan/proposal submitted for that competition, and a goal statement without the need of submitting a separate business concept statement.
- For other applicants, you need to submit a full business concept statement with also a goal statement.
Requirements of the business concept statement and the goal statement are as follows:
Business concept statement:
The business concept statement shall include the following component in no more than 3 pages:
a) Description of the business idea and its product / service
b) The targeted / intended market
c) Benefits of the product / service
d) Description of the positioning of the new venture or its product / service in the market
e) A brief description of your management team
All teams are required to submit a 300-word statement about “Why do you wish to participate in the pre-incubation programme?” and list 2 to 5 goals that you intend to achieve throughout the programme.
The documents should be submitted in the following format:
Language: English or Chinese
Font size: 12
File name: Team name
File format: PDF
Header: show the team name on top right-hand as a header
Please also prepare a cover page including team name and the name, email and contact number of the team leader. Please combine the relevant documents and statements in ONE PDF file and upload it via google form provided in the email. (Please read Appendix I on p.4 for a sample.)
A selection panel will be formed to select the qualified teams for the PI programme. Award winners of HSMC Entrepreneurship Challenge will be automatically qualified for the PI programme. Priority will be given to teams which have already won an internal or external award.
There will be three calls for applications per academic year in October, January, and May respectively. For the first cohort, the application timeline is as follows:
18th May 2018: Open for application
1st June 2018: Deadline for application
11th June 2018: Result announcement
Requirements for the Eligible Teams
All eligible teams are required to sign an Admission Agreement which specifies the roles and responsibilities for participating in the PI programme. They are also required to comply with the regulations for using the co-working space offered by WUCIE.
Criteria for Completion
To complete the PI programme successfully, the following criteria must be fulfilled:
- Submission of the interim progress reports (every three months) and the final report with satisfactory achievement of the specified goals;
- At least 75% attendance rate in specified training sessions and workshops AND regular participation in other activities offered by WUCIE; and
- Satisfactory feedback report from the mentor.