hong kong university of science and technology - hkust dream … · 2019-07-03 · proposition,...

HKUST Dream Builder Program:Nurturing the Next-Generation Entrepreneurs

科大夢工場: 培育新世代創業家

Gary Chan

Director, Entrepreneurship Center

Professor, Department of Computer Science and Engineering

Chair, Committee on Entrepreneurship Education

HKUST

[email protected]

HKUST Dream Builder Program

Defining Entrepreneurship

• Starting up new business or service which creates economic, social (societal), cultural, or spiritual value• Value generation, enhancement or capture

• Competitiveness often due to innovations or discoveries on• Technology and engineering• Science• Business model and operation process• Social science and humanitarian needs

• Examples• Founding commercial ventures• Joining startups• Innovation within large corporations (e.g., google and facebook)• Social, environmental or green entrepreneurship• etc.


Gary Chan(Stanford, 1999)

Inspired by Network Giants


Leonard Kleinrock(MIT, 1963) Fouad Tobagi

(UCLA, 1974)

Hisashi Kobabyshi(Princeton, 1967)

My Research

• Build advanced mobile and networked systems driven by research innovations, designed by engineering excellence• Addressing the curse of “scale”

• Unleashing research impacts through technology entrepreneurship and transfers• Technology development and prototyping started in 2005

• Working with the government and industry to transfer and deploy the developed technologies• Several successful cases and transfers

• Entrepreneurship in the past 5 years


Turning Research to Commercialization: The Golden Triangle

• Government• CRG/RGC• Innovation and Technology Funds (ITF)

• Technology Transfer Center, Department and School of Engineering at HKUST

• Seed funding• Advices and support on contractual

agreements• R&D facilities and human resources• Students, alumni and staff

• Industry sponsors and collaborators• Funding, technical support, trial sites,

equipment, etc


Tech.

Transfer

My systemprojects

Relentlessly Closing Theory-Practice Divide through Applied Research and Development


Research theories(tractability concern,simplifying assumptions, limited parameters) strong/optimalperformance

Industrial practice(holistic, unpredictable, uncontrollable, complex, inter-dependent parameters) Research models noteasily applied

My research: bridge research with practice close feedback loop best performance in their applications

Divide (鴻溝)

Theory is easier than real life

• Theory is easy

• Real life is tough

• In theory, everything works and we know exactly why. In practice, things breaks and we do not know why• Many hidden factors which we do not understand yet in practice.


So difficult! Why bother?

My IT Entrepreneurship Dream

• For money? Not so. I know money cannot buy me happiness.

• I have too much time? Not so. I have a wife and enough white hair (and very little hair).

• Because I share the same alma mater as Jeff Bezos (Amazon.com founder and CEO)? Maybe

• Because I graduated from Stanford? Most probably.

• Demonstrate to others what impacts technology can bring.

• Show to younger generation, through myself and student training, that information technology can create big value and change our lives


Google: Internet Search

Why and who 9

Larry Page,Co-founder andCEO, google

Sergey Brin,Co-founder, google

Facebook Mark Zuckerberg: Social Network in the Internet

Why and who 10

Whatsapp: Instant Messaging• Facebook acquisition for US$19 billions in Feb 2014

Why and who 11

Jan Koum

A Comic in USA


The University is a Place to Make Big Dreams


We not only make dreams.We build them.只要有夢想、凡事可成真

What we imagined can be achieved

--- 1994 HKT commercial


Introducing HKUST Dream Builder Program for our Next-Generation Entrepreneurs

科大夢工場: 培育新世代創業家


Mr. Donny SIUAssociate Director

Staff in Entrepreneurship Center

Mrs. Loretta TAMAssociate Director

Mr. Cyrus CHOIAssistant Director

Miss Tracy LEUNGAssistant Manager

Mr. Jack WONGAssistant Computer Officer

Ms. Cartman CHANAdministrative Support &

Coordination

Mr. Gary FUNGProgram Assistant

Mr. Donny SIUAssociate Director

Mrs. Loretta TAMAssociate Director

Mr. Cyrus CHOIAssistant Director

Miss Tracy LEUNGAssistant Manager

Mr. Jack WONGAssistant Computer Officer

Ms. Cartman CHANAdministrative Support &

Coordination

Mr. Gary FUNGProgram Assistant

Inception: Planting an Idea in a person's Dream


HKUST Dream Builder Program(科大夢工場)

1. Knowledge (Broaden and

deepen skillsets)

• Courses, projects and programs

• Seminars

• Workshops

2. Ideation (Grow and build

ideas)

• Competitions

• BASE, mixers, ideation camps and visits/engagements

• Startup internship

3. Execution (Create value and impacts)

• Acceleration funds and co-working space

• Mentorship and advising

• Exposure (Investor linkage, startup conference, exposure trip, etc.)



ENTR Courses/Minor

Seminars

BASE

Investor mixer

Workshops

Accelerationfunding

Mentorship

Competitions

Visits

Curriculum and Activities: Fostering an inspiring, engaging and vibrant entrepreneurial spirit

• Cultivate a risk-taking value-creation mindset• Discovery of pathways from ideas to impacts

• Sharpen skills, character and mindset• Interpersonal, social and communication skills• Business skills • “Can-do” spirit: Following passions persistently by embracing uncertainties and setbacks

• Enhance hands-on experience and team-work• Learning by doing: Group-based inter-disciplinary collaboration• Design thinking: understand, observe, ideate, prototype, test and adapt (and iterate the

process relentlessly) • Knowledge integration and applications

• Experience early• Start early, fail early, learn lessons early, get to know your business early.


Student-driven Entrepreneurship

Failure

Lessons

Pivoting and

prototyping

• Understand, conceptualize, prototype, test and deploy

• Form team• Kindle the passions and work on the

dreams

• Early exposure to entrepreneurial experience and hands-on practice• Identify problems and approaches early • Fail fast and learn fast

• Empower you to dream without rules and boundaries • Think big, act small and move fast


Entrepreneurship is an Alternative Career Choice


Entrepreneurship Mindset is for Everyone

• Strength + humility

• Passion for learning and perseverance

• Open, welcoming all feedback

• Resourceful

• Leadership and taking initiative

• Delivering practical outcomes

• Strong communication skills

• Identifying and seizing opportunities

• Think big, act small and move fast

• …

• “Highly successful engineers not only are academically astute, but also possess entrepreneurial skills”• From a survey of business executives and managers


Entrepreneurship Knowledge: Seminars and Workshops• Entrepreneurship practice is an irrational act

• Demystifying entrepreneurship to beat the odds of failures

• Familiarize you with the terms and conditions of starting up a company• How to attract investment• Financing and share structuring• Market analysis• Operation management, etc.

• Identify critical stages and activities to grow (or fold) a company• From 0 to 1 (creating some completely new and viable): founding team, technology, value

proposition, business plan, company registration, angel investment, etc.• From 1 to infinity (in terms of company size, revenue, sales, value, etc.): business plan, share

(re-)structuring, company growth, VC-A, VC-B, braches, IPO, acquisition, etc.

• Case studies to develop critical thinking and to understand the factors of success and failure


Ideation: One Million Dollar Entrepreneurship Competition

Ideation: HackUST and HardUST 2017

• Since 2014, student-led, EC co-organized and sponsored

• hackUST 2017 : The biggest university hackathon in Asia (http://www.scmp.com/lifestyle/article/2090788/hong-kong-hackathon-hackust-24-hours-build-winning-game-or-app-solves)

• 34 tertiary institutions (HK and overseas)

• 622 participants (Alumni & students)

• 485 HKUST members (78%)

• 92 teams

• 69 HKUST teams (75%)

• hardUST 2017: The first hardware hackathon held in HKUST

hackUST 2017 offered

me a wonderful

moment and I

appreciate it a lot.

I hope hackUST can continue to thrive!

http://www.scmp.com/lifestyle/article/2090788/hong-kong-hackathon-hackust-24-hours-build-winning-game-or-app-solves)

BEST (Business, Engineering, Science Together) Camp• A camp to promote entrepreneurship by mingling students from different

departments

• Ideation, product design and prototyping skills as well as working in teams comprised with teammates with different background to work out a business plan.

Leapfrog• Opportunities for oversea exposure

• Understand how oversea entrepreneurs & startups work

• Build connections & potential business network

• Explore markets for geographical expansion• Explore resources & fund raising

opportunities outside HK • We are working with universities & incubators

in different locations• Korea• Australia• Ireland• Mainland (Shanghai, Tianjin, etc…)• Etc…

Application Starts Tomorrow

Idea is Cheap. Execution is Everything.


Chris Sacca, Investor in Twitter & Uber

The BASEA Vibrant Co-working Space to Promote Student-driven Entrepreneurship A Mixer to Connect all HKUST Entrepreneurial Members


DreamBuilder Mentorship Program

• A platform to provide practical advice, mentorship and connections (to resources, customers and investors)• Competitions• Formation of startups

• Practitioners and leaders in the field• In the value chain to mentor and coach students• Shadowing program• Alumni • Investors• Lawyers• Entrepreneurs• Etc.


Catalyzing Ideas to Impacts:Acceleration Funds• Yeung Wing Yee Entrepreneurs Fund

- Usually up to HK$50K to cover prototyping, service & product development, marketing and promotion, deployment trials, etc.

- Early-stage startup company registered in HK owned by full-time HKUST students with 51% share or above

- Entrepreneurship Acceleration Fund

- Up to HK$20K per successful applicant

- HKUST students (individual or team) with entrepreneurial ideas and plans


http://www.inovspace.com/category/dilemas/

Everyone Excels in One’s Own Areas


HKUST Entrepreneur, Anyone?


echnology and

Innovation• Engineering

• Science• Management

• Process and production• Sales & Marketing

assion

• Inspiration/Aspiration• Motivation• Personality• Persistence/

Perseverance

roblem

• Market Gap• Unsolved Problem• Unsatisfied Demand

Join us

The entrepreneurship journeyof worries and hopes

Don’t be a spectator:Hop in, buckle up and have fun!


Q&Ahttp://www.ec.ust.hk

[email protected] (Gary Chan)


http://www.ec.ust.hk/

mailto:[email protected]

hong kong university of science and technology - hkust dream … · 2019-07-03 · proposition,...

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