Programme Description

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.

Eligibility

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:

Category	Documents needed
Finalists of HSMC Entrepreneurship Challenge or awardees (Merit or Excellence) of HSMC Innovation Project Competition	1)    cover page 2)    original business plan/proposal submitted for the respective events 3)    a goal statement *no need to submit a new business concept statement
Finalists of one of the external entrepreneurship and innovation related competitions	1)    cover page 2)    finalist certificate 3)    the original business plan/proposal submitted for that competition 4)    a goal statement *no need to submit a separate business concept statement
Other applicants	1)    cover page 2)    a full business concept statement 3)    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:

1. a) Description of the business idea and its product / service
2. b) The targeted / intended market
3. c) Benefits of the product / service
4. d) Description of the positioning of the new venture or its product / service in the market
5. e) A brief description of your management team

 

Goal statement

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.

 

Cover Page

Each team needs to prepare a cover page indicating teams’ details:

1. Team name
2. Team members’ names, emails and contact numbers

 

The documents should be submitted in the following format:

Language: English or Chinese

Font size: 12

File name: Team name

File format: PDF

Header: Indicate team name in header

 

Please combine the cover page, relevant documents and statements in ONE PDF file and upload it via google form provided in the email.

 

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.

Application Timeline

There will be three calls for applications per academic year in September, January, and May respectively. For the second cohort, the application timeline is as follows:

 

3^rd September 2018: Open for application

17^th September 2018: Deadline for application

26^th September 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:

1. Submission of the interim progress reports (every three months) and the final report with satisfactory achievement of the specified goals;

1. At least 75% attendance rate in specified training sessions and workshops AND regular participation in other activities offered by WUCIE; and
2. Satisfactory feedback report from the mentor.