The Vice Chancellor ’ s Cup of Student Entrepreneurship 2012 VCCE.
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Transcript of The Vice Chancellor ’ s Cup of Student Entrepreneurship 2012 VCCE.
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The Vice Chancellor’s Cup of Student Entrepreneurship 2012
VCCE
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A business plan competition
• “Planning is the substitution of error for chaos.” – Anonymous
• Writing and presenting plans allows you to communicate
• Communication is essential for attracting– Investors – High quality staff– Suppliers– Buyers
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How to compete• Get an idea • Form a team
– The Presenting Team: up to 5 CUHK students– Real Team may be different
• include non students• Be fewer or more
• Find an Advisor – any CUHK professor• CUHK student role must be substantial
– CUHK student equity > 20%– CUHK student management > 50%
• If your company already exists it must have no substantial sales before Sept 2011
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Plan is written to source equity capital
• Any independent business in any industry– No buy-outs of, expansions to or sponouts of
existing companies– No franchises or licensing agreements for
distribution in a different geographical area
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Criterion for winning
…which plan presents the most attractive
investment opportunity?
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Ventures May be Social Enterprises or Mixed Enterprises
• All great companies have a value creating purpose: • Google’s mission is to organize the world‘s information and make it
universally accessible and useful.
• High quality employees is motivated to work for such a purpose
• Attractive Social Ventures maximize social return on financial investment– Aim for global impact– Solve large social problems– Scalable
• Social Ventures will NOT be judged in a separate track
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Prizes• LEARN skills useful for start-ups • Interact with VCs, investors and partners• Winners represent CUHK at national and international
competitions• 1st $8,000; 2nd $5,000; 3rd $2,000
• Judged by panels of investors
• Sow Asia Foundation Social Venture Award: $8,000 • Regular prize winners may also win the Sow Award• Judged by Darius Yuen • Sow Asia will seriously consider financing of one of the plans • up to a principal amount of $1 million• subject to mentoring, review, due diligence and team commitment
• Investment is available for ventures with high expected returns
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Plan Length
• Written Plan– Summary maximum 2000 words due 17th December– Final Plan: 16 pages 12 font due 16th January
• 10 pages of text• 6 pages appendices• First page should be summary
• Presentation– 15 minutes presentation– 15 minutes Q&A
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The Plan Concerns Forecasts
• Focus on one plan with milestones and cash needs focusing on first year
• Predict • Unknowable : give your best guess based on
detailed analysis of the present
• Cite sources and list assumptions
The Plan also discusses the past and the present …
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You Business Plan is a Prospectus
• Make whatever forecasts you wish
• Statements purported to be factual must be factual
• Any investor will do due diligence in confirming the facts as presented in the plan– you will likely be discovered for falsehoods
• If an investor relies on false information in making an investment and loses because of that reliance, you are personally liable
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No Plagiarism
When you quote use quotation marks. Fully reference your sources in footnotes
Merriam Webster Dictionary: pla·gia·rize (Etymology: plagiary Date: 1716) Transitive senses : to steal and pass off (the ideas or words of another) as one's own :use (another's production) without crediting the source. Intransitive senses : to commit literary theft :present as new and original an idea or product derived from an existing source.
Plagiarism is easy to spot
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The Concerns of the Investor
• Does it create value for end users?• Is it a “must buy” so the end user is willing to
pay a premium?• Is that “must buy” market
• large?
• high growth?
• high margin?
• with significant barriers to entry?
• Does the venture’s team fit the opportunity?
Criterion: Is this an attractive investment?
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If you use CUHK technology, obtain the consent of the developing professor
and CUHK Knowledge Transfer Office: – Tracy Pang, IP Manager 37633031
For Pre-Incubation at CUHK:– Center for Innovation and Technology– K.Y. Leung, Associate Director x 8380
CUHK Faculty and Students Can Help with Your Plan – but you have to find the right people yourself !!!!
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Tap Our Alumni Network
• Alumni are willing to share– Market knowledge– Strategic partners– Entrepreneurial experience– Investment expertise
• Alumni mentor network
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Schedule for VCCE
• Registration and Summary Dec 17th
• Semi-Finalist announcement December 21st
• Full Written Plans January 16th
• Semi-Finals Friday Feb 3rd
• Finals Saturday Feb 4th
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Hugh Thomas [email protected]
Questions? Ask
The CUHK Center for Entrepreneurship 9th Floor Cheng Yu Tung Building
Rosanna Lo [email protected] phone 26097542