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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
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

slide2
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

the aim of incubation programme
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.
focusing on 5 technological clusters design
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

the incubation cycle
The Incubation Cycle

Marketing & Admission

Move-in Logistics + SEC Services

Account Mgmt + Incubation Support Services

Refer to Mktg, Graduation, Move-out Logistics

soft landing international incubator
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.
overview
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
business and technical support
- Account Service

- Technical & Management

- Business Matching

- Training & Education

- Promotion

- Networking

- Aid Package

- Office Premises

- Communal Service

Business and Technical Support
slide9

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

slide10

Aid Package Subsidy for Incubatees

Website: www.hkstp.org

0807_full-R3_Aid Package (Eng).ppt (Updated on 21-7-08)

13

mandatory admission criteria
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.
mandatory admission criteria12
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.
qualitative admission criteria
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
slide14

Assessment Panel

  • 3 HKSTP Vice Presidents
  • A University professor
slide15

Turnaround Time

  • Usually will be notified in about 11 weeks upon receipt of completed application form
flow chart of processing incu tech application
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

terms of reference of co opted members of the admission panel
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

comments from co opted members of the admission panel
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.
incubatees and graduates statistics as of 31 dec 2008
Incubatees and Graduates statistics as of31 Dec 2008

Incubation-statistics(31Dec08)_(no STEP)__3Feb09revised_RD6fmP

slide24

Incubatee Success Scores

0804_Design+tech_incubatee Success Score – 5 yrs (updated 8 Apr 08)

slide25

Technology-based Incubatee / Graduates /STEP Graduates Success Scores

0804_tech (Fred)_Incubatee Success Score_5 years

Updated on 7 Apr 2008

BDTS (Fred Yung)

slide26

Design-based Incubatee / Graduates /STEP Graduates Success Scores

0804_design(rebekah)_Incubatee Success Score_3year

Updated on 7 Apr 08

BDTS (Rebekah)

slide27

For further information

HK Science & Technology Parks :

http://www.hkstp.org

Enquiry : 2629 6707

the one sentence marketing plan29
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)

the one sentence marketing plan30
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)

the one sentence marketing plan31
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)

the one sentence marketing plan32
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
the one sentence marketing plan33
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
the one sentence marketing plan34
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)

the one sentence marketing plan35
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?)

the one sentence marketing plan36
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)
the one sentence marketing plan37
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)

the one sentence marketing plan38
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)

the one sentence marketing plan40
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)

the one sentence marketing plan41
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)

the one sentence marketing plan42
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)

the one sentence marketing plan43
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)

the one sentence marketing plan44
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)

the one sentence marketing plan45
The One Sentence Marketing Plan

The advanced:

Market Positioning

determines

Product, Price, Place, Promotion

Frederick W.S. Yung

(7 Mar 09)

the one sentence marketing plan46
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)

the one sentence marketing plan47
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)

the one sentence marketing plan49
The One Sentence Marketing Plan

The most unbelievable

quantity policy:

(8 items) Express Counters

at supermarkets

Frederick W.S. Yung

(7 Mar 09)

the one sentence marketing plan50
The One Sentence Marketing Plan

The most unbelievable

product / promotion mix policy

L M F

Frederick W.S. Yung

(7 Mar 09)

the one sentence marketing plan51
The One Sentence Marketing Plan

The most unbelievable

product policy

20” L C D T. V.

Frederick W.S. Yung

(7 Mar 09)

the one sentence marketing plan52
The One Sentence Marketing Plan

The most unbelievable

distribution policy

Cable TV

In living room & bed room

Frederick W.S. Yung

(7 Mar 09)

the one sentence marketing plan53
The One Sentence Marketing Plan

The Marketing “Disasters”

  • Crepe and cheese cake shops
  • KFC in early1970
  • The Chinatel car phone in taxi
  • The first pager in HK (early 1970)

(1st mover advantage ? )

  • The TEC phone in Hong Kong
  • The old Crocodile shops

Frederick W.S. Yung

(7 Mar 09)