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Frederick Yung W.S. Yung 容 永 笙

Frederick Yung W.S. Yung 容 永 笙. B. Comm. (Loyola College, Montreal, Canada) M.B.A. (U. of British Columbia, Canada) Senior Mgr, HK Sci & Tech Parks Corp.: incubating >200 tech/design start ups Xerox (HK): retail, business supplies, Macau Dodwell: office machines distribution & services

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Frederick Yung W.S. Yung 容 永 笙

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  1. Frederick Yung W.S. Yung 容 永 笙 • B. Comm. (Loyola College, Montreal, Canada) • M.B.A. (U. of British Columbia, Canada) • Senior Mgr, HK Sci & Tech Parks Corp.: incubating >200 tech/design start ups • Xerox (HK): retail, business supplies, Macau • Dodwell: office machines distribution & services • DEC: regional service product management • Jardines: office machines distribution & services Email: fred.yung@hkstp.org

  2. 矛 盾 是 創 意 的 開 始 價 值 是 創 意 的 溶 合 矛 盾越多 創 意 越 大 價 值 更 高 Creativity starts from conflict Value is the combination of creativity The more the conflict, the more the creativity, the more the value

  3. The aim of Incubation Programme To encourage and promote innovative technology-based or design-based entrepreneurial activities in order to: • Contribute to GDP growth and increase high value-added employment; • Reinforce Hong Kong’s position as a product development centre; • Enhance Hong Kong’s position as a window to the world.

  4. FOCUSING ON 5 TECHNOLOGICAL CLUSTERS & DESIGN • 1. Electronics • 2. IT & Telecommunications • 3. Biotechnology • 4. Precision Engineering • 5. Environment and Renewable Energy • 6. Design (Aesthetic) Plus all other technology areas that Hong Kong promotes, including those R&D Centres spearheaded and supported by the HKSARG

  5. The Incubation Cycle Marketing & Admission Move-in Logistics + SEC Services Account Mgmt + Incubation Support Services Refer to Mktg, Graduation, Move-out Logistics

  6. Soft Landing International Incubator • Accredited by National Business Incubation Association (NBIA) as Soft Landings International Incubators (SLII) • Recognition of HKSTP’s capability at helping non-domestic companies enter the Hong Kong market • HKSTP is the only incubator in Asia among the 9 SLII accredited worldwide.

  7. Overview • 2-4 year programme (design 2 years, tech 3 years, bio-tech 4 years) • Not-for-profit incubator funded by HKSTP • Help technology and design start-ups get through initial product development stage • Full Service Not Space Only • Business Development & Technical Support • Focus 5 technology clusters and design • Account servicing throughout incubation period • Milestones assessment • Operated for 15 years • Nurtured more than 200 start-ups • 100 current incubatees

  8. - Account Service - Technical & Management - Business Matching - Training & Education - Promotion - Networking - Aid Package - Office Premises - Communal Service Business and Technical Support

  9. Office Premises • Up to a 12-mth rent free period for incubatees* • Maximum area is 1,600 sfg for tech/biotech incubatees at Science Park and 1,200 sfg for design incubatees at InnoCentre • Ready to use office and business centre service including air-con, carpet, wallpaper, ceiling tiles, power/phone/internet connection and shared use of meeting rooms, pantry, office equipment and receptionist services, and with electricity, government rent and rates paid for. * subject to meeting of milestones ** Maxi 800 sfg FOC, thereafter at second year rate *** Applicable to Biotech incubatees who require wet labs Updated on 6 Nov 2008

  10. Aid Package Subsidy for Incubatees Website: www.hkstp.org 0807_full-R3_Aid Package (Eng).ppt (Updated on 21-7-08) 13

  11. Mandatory Admission Criteria • A Hong Kong registered technology start-up company established for no more than 2 years and must not have obtained investment from any company, no matter in the technology or non-technology industries or as a holding company. • At least 2 full-time staff, one of whom is a technologist of related field and at the same time a shareholder with not less than 10% share; or the full-time technical team holds at least 20% share. • Maximum office area is 1,600 sfg.

  12. Mandatory Admission Criteria • Conduct most R&D activities at the Small Enterprise Centre (SEC). • It cannot operate only a sales & marketing office or retail outlet at the SEC. • Laboratories at the SEC must be environmentally friendly which do not handle hazardous materials. They must be able to operate in an office building. • A shareholder working full time for the applicant must not be a shareholder who worked full time for a current incubatee or an incubatee who has successfully graduated from the Programme of the same field.

  13. Qualitative Admission Criteria • Quality and competence of the management team • Business viability • Innovativeness • Technology/ R&D content • Milestones set for the 6th and 18th month after admission

  14. Assessment Panel • 3 HKSTP Vice Presidents • A University professor

  15. Turnaround Time • Usually will be notified in about 11 weeks upon receipt of completed application form

  16. Flow Chart of Processing Incu-Tech Application Application Received Meeting with Applicant by HKSTP staff Inviting Co-opted members for technical comments Admission Panel Meeting Application Admitted/ Rejected

  17. Terms of Reference of Co-opted Members of the Admission Panel - To vet and comment on the materials submitted by the applicants, including business plan, CVs - To send back the comments within 10 working days - To join the Admission Panel Meeting on rotation basis - To endorse the milestone summary prepared by the applicant - To respect the confidentiality of the applicants

  18. Comments from Co-opted Members of the Admission Panel • Based on 7 standard questions: • 1. The feasibility of applying the technology to the products / services as mentioned. • 2. Is it one of the best technologies to be applied to that products / services, given the availability or unavailability of similar products / services? • 3. The innovativeness and the competitiveness of the proposed product / service. • 4. Are the proposed products / services viable to cater for the needs of the market? • 5. From the education and experience of the applicants, do you think they are technically competent to apply the technology mentioned? • 6. Concerning the submitted milestone summary, do you think the business development progress is reasonable, especially in the field of product development? • 7. Any additional comments from your professional point of view.

  19. Incubatees and Graduates statistics as of31 Dec 2008 Incubation-statistics(31Dec08)_(no STEP)__3Feb09revised_RD6fmP

  20. Incubatee Success Scores 0804_Design+tech_incubatee Success Score – 5 yrs (updated 8 Apr 08)

  21. Technology-based Incubatee / Graduates /STEP Graduates Success Scores 0804_tech (Fred)_Incubatee Success Score_5 years Updated on 7 Apr 2008 BDTS (Fred Yung)

  22. Design-based Incubatee / Graduates /STEP Graduates Success Scores 0804_design(rebekah)_Incubatee Success Score_3year Updated on 7 Apr 08 BDTS (Rebekah)

  23. For further information HK Science & Technology Parks : http://www.hkstp.org Enquiry : 2629 6707

  24. The One Sentence Marketing Plan

  25. The One Sentence Marketing Plan How do you know you can sell this product to these places, at these prices, in these quantities, within this period of time? Frederick W.S. Yung (14 Jan – 11 Feb 2008)

  26. The One Sentence Marketing Plan How do you know You can sell this product- product name company name complementary competitive alternative replacement product niche positioning X X X X Frederick W.S. Yung (14 Jan – 11 Feb 2008)

  27. The One Sentence Marketing Plan How do you know You can sell this product Product name : “KISS” rule Frederick W.S. Yung (14 Jan – 11 Feb 2008)

  28. The One Sentence Marketing Plan How do you know You can sell this product • Company name: 2 consonant rule • Hong Kong Industrial Technology Centre Corporation – HKITCC – ITC – Tech Centre • NCR / IBM/GE • HongKong and Shanghai Banking Corporation – HK Bank – HSBC • P C C W?? • AXA / National Mutual • LMF TWINS -亞 Sa, 亞嬌

  29. The One Sentence Marketing Plan How do you know You can sell this product • Company name: 2 consonant rule • Hong Kong Industrial Technology Centre Corporation – HKITCC – ITC – Tech Centre • NCR / IBM/GE • HongKong and Shanghai Banking Corporation – HK Bank – HSBC • P C C W?? • AXA / National Mutual • TWINS -亞 Sa, 亞嬌– Charlene & Gillian

  30. The One Sentence Marketing Plan How do you know You can sell this product Product niche : real – CRT & LCD TV perceived – Satchi promoted – Mountain Cream – Corn oil, peanut oil & cholesterol Frederick W.S. Yung (14 Jan – 11 Feb 2008)

  31. The One Sentence Marketing Plan How do you know You can sell this product Positioning : - Hi-mid-low B & O, Nakamichi-Yamaha, Denon-Panasonic, Hitachi (BBK, Skyworth) • Young-mature-old Color 18 – Jessica – Episode (from Toppy) Giordano, Giordano Concept, Giordano Lady - Man – Woman (cosmetics, real difference?)

  32. The One Sentence Marketing Plan How do you know You can sell this product to these places Direct sales complicated non-consumer products with detailed explanation and after-sale service • Mainframe computers (PC? Copier? Printer?) • Power generation plants, aircrafts • Determined to hold significant market share (with profitable after-sale service)

  33. The One Sentence Marketing Plan How do you know You can sell this product to these places Wholesales / distributor / dealer middleman before end-users, appointed by manufacturer: Volume business when local knowledge (stock, warehouse, distribution logistics) is important - Consumer / office durables - F M C G Frederick W.S. Yung (7 Mar 09)

  34. The One Sentence Marketing Plan How do you know You can sell this product :– to these places: Retail - location, location, location (Sogo, 現代教育, Xerox shop at New Henry Hse) • Easy to access (building, shop area, entrance) • Where customers are (MTR, Regal Hotel Causeway Bay) • Clustering (motor car, home decoration, LKF) (Sai Kung Mercedes at 匡湖居) Frederick W.S. Yung (7 Mar 09)

  35. Frederick W.S. Yung (7 Mar 09)

  36. The One Sentence Marketing Plan How do you know You can sell this product at these prices • Margin based • Competitive price benchmark based • Product life-cycle based – creaming effect • What-the-customer-can-afford based • Convenience pricing Frederick W.S. Yung (7 Mar 09)

  37. The One Sentence Marketing Plan How do you know You can sell this product in these quantities • zero demand vs ⍺ demand: shoes to Africa • Demand creation: ginkgo biloba, bilberry, hair-growing tonic • Expand market sector : baby shampoo Frederick W.S. Yung (7 Mar 09)

  38. The One Sentence Marketing Plan How do you know You can sell this product in these quantities • Traditional s/d curve, price elasticity • Population based: toilet roll, baby formula • Different market sector: O E M O D M O B M Frederick W.S. Yung (7 Mar 09)

  39. The One Sentence Marketing Plan How do you know You can sell this product within this period of time • Product life-cycle management (Wrigley’s chewing gum) • Factor of resources: distribution promotion production capacity Frederick W.S. Yung (7 Mar 09)

  40. The One Sentence Marketing Plan The elementary The 4Ps (5Ps, 6Ps… 10Ps) of Marketing Product Price Place Promotion (PR, Publicity ….) Frederick W.S. Yung (7 Mar 09)

  41. The One Sentence Marketing Plan The advanced: Market Positioning determines Product, Price, Place, Promotion Frederick W.S. Yung (7 Mar 09)

  42. The One Sentence Marketing Plan How do you know You can sell this product to these places, at these prices, in these quantities, within this period of time? This is what marketing is all about Frederick W.S. Yung (7 Mar 09)

  43. The One Sentence Marketing Plan How do you know You can sell this product :– to these place: The mystery of location: • The Hotel Regal Causeway Bay • The French restaurant in Wanchai • Car dealership in Wanchai • Home furnishing in Wanchai • The Happy Valley mystery • The North Point mystery Frederick W.S. Yung (7 Mar 09)

  44. The One Sentence Marketing Plan The most unbelievable quantity policy: (8 items) Express Counters at supermarkets Frederick W.S. Yung (7 Mar 09)

  45. The One Sentence Marketing Plan The most unbelievable product / promotion mix policy L M F Frederick W.S. Yung (7 Mar 09)

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