3 University Students Start Up Competitions you must not miss

#1 Jumpstarter Alibaba IdeaPOP!

JUMPSTARTER IdeaPOP! 是為本港大學生而設的創業比賽,以啟發及培育年輕人具備創業家精神。參加學生將參與一系列創業工作坊,從中學習開展一項商業方案,其間有機會結識行業領袖,並與其他年輕企業家溝通與交流。活動由阿里巴巴創業者基金、香港大專商學生聯會(HKFBS)以及香港社會創投基金(SVhk)攜手舉辦。

JUMPSTARTER IdeaPOP! is a pitching competition for all university students in Hong Kong. We aim to nurture the next generation with an entrepreneurial mindset. Participants will undergo pitch training to learn the best practices for jump-starting a business plan, network with industry leaders, and interact with other young entrepreneurs. It is a startup experience programme organized by Alibaba Entrepreneurs Fund, together with Hong Kong Federation of Business Students (HKFBS) and Social Ventures Hong Kong (SVhk).

https://www.jumpstarter.hk/tc/student

#2 香港大學生創新及創業大賽

「挑戰盃」被譽為中國青年創新科技的奧林匹克,自1989年舉辦以來,貫徹堅持「崇尚科學、追求真知、勤奮學習、銳意創新、迎接挑戰」的宗旨,至今每屆已吸引2000多所來自不同省市的高校參與,計有200多萬大學生參與其中,在促進青年創新人才成長方面發揮了積極作用,競賽獲獎者中已經產生了科技公司董事、中國十大傑出青年、6位國家重點實驗室負責人及20多位教授和博士生導師。

「挑戰盃」全國賽香港區選拔賽將成為香港各大專院校學生在創新科技及創業方面的重要交流及分享平臺,也是連接產學研究以及發掘科技創新及創業人才的重要平臺。首屆(2015年)香港賽區的賽事只設科技創新項目,2016年起為更全面與全國賽銜接,於香港舉行創新及創業兩個項目並存的賽事,期望能同時發掘兩方面的人才。

The “Challenge Cup” is hailed as the Olympic of Chinese Youth Innovation and Technology. Since 1989, it has adhered to the tenet of “advocating science, pursuing true knowledge, diligent learning, keen innovation, and meeting challenges.”

Colleges and universities from different provinces and cities have participated, and more than 2 million college students joined. They played an active role in promoting the growth of young innovative talents. Among the winners of the competition, directors of technology companies, China’s top ten outstanding youths, and 6 national key experiments have been discovered.

#3 HKUST-SINO ONE MILLION DOLLAR ENTREPRENEURSHIP COMPETITION 2020

Witnessing the growth of entrepreneurial activities in our region, the Competition aims to provide a platform for HKUST and surrounding community members an integrative learning experience to create and evaluate new business and to prepare students to start their future career in entrepreneurship. Winners of the Competition can use the cash prize as seed money to build their own company or to further the commercialization of their inventions.

HKUST 1M 創業大賽是科大創業中心舉辦的大型創業比賽,但即便不是科大生也可以參加,只要團隊成員中有科大生而且符合資格, 就可以了!

https://onemilliondollar.ust.hk/

Airbnb是由氣墊床開始的!

創辦人Brian Chesky 和 Joe Gebbie最初開始創業的原因是想要賺取額外收入。當他們意識到由於三藩市舉行工業設計大會而酒店幾乎沒有空缺給來自世界各地的遊客時,他們想到讓人們租出家裏的地方放氣墊床這個辦法。他們的首批顧客是一個30歲的印度男人,一個來自波士頓的35歲女人和一個來自猶他州的45歲的四口之父。他們沒有投資者或外部收入來源來資助他們的創業公司-於是他們開始出售cereal!更有趣的是,他們賣掉了奧巴馬(Obama O’s)和卡普恩(Cap’n McCains)的包裝設計賺了3萬美元!

Like how many businesses begin their journey- with some struggle and inspiration; the journey of Airbnb still remains one of the most inspirational stories in recent times. They started out with selling boxes of cereals to become a company worth 25 billion dollars. It’s unreal how two people, back in 2007, were unable to make ends meet and they ended up building their own empire.

Brian Chesky and Joe Gebbie, the founders of Airbnb, had moved from New York to San Francisco. Unfortunately, the both of them were unemployed and were looking for ways to make some extra cash when they realised that there were barely any vacancies in hotels due to the Industrial Design Conference that took place in SF and visitors from all over the world had come to visit.

#1 They seized the opportunity and bought AIRBEDS!!! I think it was a super smart idea. This way, they could help visitors by offering them a place to sleep for the night and provide breakfast to them in the morning.

#2 Their first guests were: a 30 year old indian man, a 35 year old woman from Boston and a 45 year old father of four from Utah.

#3 They had no investors or external source of income to fund their startup- they started selling cereals!! As if that wasn’t interesting enough, they made $30,000 selling Obama O’s and Cap’n McCains!!!-

Different Types of Entrepreneurs

We all understand who entrepreneurs are and what they do. Surprisingly, even though most of them share similar traits, they are not all the same. In this blog, we will talk about the different types of entrepreneurs who run businesses.

  • Innovative Entrepreneurs

As the word “innovative” suggests- this group of entrepreneurs love coming up with and introducing new ideas and creations into the business world. They love to take risks and are great at anticipating people’s needs and turning them into wants!

Clear Light Bulb Placed on Chalkboard
  • Imitating Entrepreneurs

Imitate? Wait.. does that mean they copy others? Well, you guessed it right! This group of entrepreneurs love copying other people’s ideas and replicating them.

  • Fabian Entrepreneurs

This group of entrepreneurs love to play it safe! In order to incorporate a new technique or design or innovation, they wait for it to be tested by others and if it ends up having a positive response, they include it in their own companies too!

  • Drone Entrepreneurs

These entrepreneurs are reluctant to change. And.. why wouldn’t they? No one likes change. We all prefer our comfort zones and like things the way they are. However, this quality ends up becoming a barrier in their business since they are not willing to adopt to new techniques even if they are burdened with losses.

創新型

就像“創新”一詞,這群企業家喜歡提出並將新的想法和創意引入商業領域。他們喜歡冒險,擅長預測人們的需要並將其轉變為商機!

複製型

複製?等等..這是否意味著他們會抄襲他人? 好吧,你猜對了⋯⋯ 這群企業家喜歡複製他人的想法並加以復制。不過複製而加以改善,未嘗不是好事呢。

安穩型

這群企業家喜歡按數據安全行事!為了整合新技術,他們等待其他人對進行測試。如果最終得到積極的回應,才會行動。

守舊型

Everything you need to know about business’s Start up costs

如果您正在閱讀此篇文章,您應該對創業有一定的興趣。在此,我們將簡單說明一下你建立自己的公司時需要承擔的各種大小費用。作為企業家,您需要做好準備。因為即使在您打開公司大門之前,您也要支付一大筆賬單。

If you’re reading this blog, it probably means you already have started your business recently, you’re planning to or you’re just interested. In this blog, we will talk about the different types of start-up costs you will need to incur when you set up your own company. As an entrepreneur, you need to be prepared because even before you open the doors to your company, you will have a pile of bills to pay.

為什麼要精準計算您的啟動成本呢?因為它可以幫助您吸引投資者,獲得貸款並估算利潤。以下是每家公司面臨的常見啟動成本清單:

Now, why is calculating your start-up costs earlier on important? Well, because it helps you to attract investors, secure loans and estimate profit.Following is the list of common start-up costs every company faces:

  • Office Space 辦公室位置
  • Office Equipment 辦公室裝備
  • Inventory 庫存
  • Employee/Worker Salaries 員工薪金
  • Market Research 市場調查資金
  • Advertising 廣告資金
  • Utilities 各種用具
  • Website 網站開發成本
  • Licence 商業登記

計算啟動成本有助於投資者做出明智的決定,因為他們能夠將其與預期收入進行比較,並確定您的公司從長遠來看可以實現多少利潤。

Calculating start-up costs aids investors in making an informed decision as they are able to compare that to expected revenue and determine how much profit your company can make in the long run.

How to grow your business through Social Media

  • Produce valuable content: Cannot stress how important this is. People will only bother to scroll through your Instagram/Facebook/LinkedIn feed if you post something that catches their eye. Social media is one the most vital forms of marketing right now. Use your social media platforms wisely by making the best use of it- post about your products and services. Use your platform to talk about how you can cater to your customer’s needs. Nobody looks for a product or a service. They look for a solution to their problem. Emphasise how you can provide value to them because customers need to know what’s in it for them.
Person Holding Iphone Showing Social Networks Folder
  • Post Consistently: Wouldn’t it upset you if you went into one of your favourite pages or blogs and they haven’t posted anything new yet? That is how some customers may feel about you. Posting consistently helps loyal customers continue to stay loyal and share your content on their own social media platforms.
Person Using Smartphone
  • Drive traffic: Use social media to drive traffic to your website. You can make use of Facebook advertising to drive more traffic to your store. Now, let’s be real. Just because you have 500 followers or likes does not guarantee that those customers will buy something from you. Hence, the key is to market yourselves in a way that makes them want to buy and that can be done by targeting the right group of people.

Rubik’s Cube Story

#1 Ernõ Rubik, a professor from Budapest In Hungary, wanted to help his students understand three-dimensional problems.His solution? The Rubik’s Cube! Ernõ creates the first working prototype of the cube in 1974.

來自匈牙利布達佩斯的教授 ErnõRubik 希望幫助他的學生理解三維問題。於是他於1974年創建了第一個立方體原型。

#2 The “Magic Cube” was demonstrated at a variety of international toy fairs, including London, Paris and New York. In September 1979, the puzzle was spotted in Nuremberg by toy specialist Tom Kremer, who could immediately see the power and potential of the Cube. Tom Kremer’s vision was to commercialize the Cube and sell it to the world; he negotiates and signs a worldwide distribution license.

“魔方”在倫敦,巴黎和紐約的各種國際玩具展上進行了展示。 1979年9月,玩具專家Tom Kremer在紐倫堡發現了這個難題,他立即就能看到魔方的潛力。Tom Kremer的願景是將魔方商業化並將其出售給全世界。他談判並簽署了全球發行許可證。

#3 Sales of the Rubik’s Cubes in 1980 initially started off as modest, but started to grow once the Ideal Toy Company launched a television advertising campaign.

最初,Rubik’s Cubes的銷量在1980年開始得很慢,但Ideal Toy Company發起了電視廣告活動後,其銷量便開始增長。

#4 1982年Rubik’s holds the first World Championship in 1982 in Budapest, Hungary on 5th June. Minh Thai (USA) was the inaugural winner with the result of 22.95 seconds.

6月5日,魯比克於在匈牙利布達佩斯舉行了第一屆世界錦標賽。 Minh Thai(美國)以22.95秒的成績獲得了首屆冠軍。

#5 2017
Rubik’s Brand enjoys a record year with retail sales reaching $250 million.
魯比克的品牌銷售創新紀錄,零售額達到2.5億美元。

In conclusion… the Rubik’s cube achieved success through invention —> effective marketing —> community building (annual competitions and club events) —> sales and brand recognition

總而言之… 魔方通過發明->有效的營銷->社群建設(年度競賽和俱樂部活動)->銷售和品牌認可 取得了成功

5 Qualities of a Successful Entrepreneur

We all know that the responsibilities of an entrepreneur are quite demanding. Due to the never-ending competition in today’s day and age, it is crucial for them to be able to think on their feet, deal with unforeseen circumstances with confidence and take up challenges even if they are not up for it. So, let us explore what qualities make up a successful entrepreneur.

#1 Not afraid of failure: This is the first and foremost trait of a successful entrepreneur. As an entrepreneur, you will NEED to take risks. Higher risks reap higher rewards. Sure, you can decide not to take any risks and stay in your comfort zone; but you will need to prepare yourself when you see your business is stagnant and your current customers and running to your competitors.

不怕失敗:這是成功企業家的首要特徵。作為企業家,您將需要冒險。更高的風險獲得更高的回報。當然,您可以決定不承擔任何風險並停留在舒適的區域內;但是當您發現自己的業務停滯不前,當前的客戶流向競爭對手時,就需要做好準備。

Desperate evicted male entrepreneur standing near window

#2 Consistency: Working on making your company better every single day- not only on those days you “feel” like. Consistency yields results. Example: When people start their own company, they seek recognition and awareness from the public and for that- they market their products/services. Just when they start getting a bit of attention, they seem to stop advertising themselves. This is definitely the wrong approach. The key is so continue working until the point you don’t have to anymore.

一致性:努力使您的公司每天都進步一點點。例如當人們創辦自己的公司時,他們尋求公眾的認識而為此推銷自己的產品/服務。推銷關鍵是要繼續工作,適時轉換策略。

#3 Being able to prioritize: Knowing what to do and when to do it in the midst of an overload of work is key to being a good entrepreneur. Like mentioned above, being the owner of a business is no small thing- it comes with a large package of duties and responsibilities and it is inevitable that at some point, you may feel overwhelmed. Knowing how to prioritise your tasks will help you so much in the long run.

能夠排定優先順序:在工作量過多的情況下,知道做什麼和何時做是成為優秀企業家的關鍵。就像上面提到的,成為一家企業的主人不是一件容易的事-它伴隨著一大堆的職責和責任。無可避免在某個時候,您可能會感到不知所措。從長遠來看,知道如何確定任務的優先級將對您有很大幫助。

Sticky Notes on Board

#4 Honesty & Integrity: The most underrated trait. It is so vital for new entrepreneurs to not compromise their integrity. Being honest in whatever you do or say is something appreciated by all.

誠實與正直:最被低估的特質。對於新企業家來說,不損害自己的正直至關重要。無論您做什麼或說什麼,都要誠實,這是所有人都欣賞的事情。

#5 Persistence: Nothing says more about you than when you’re able to pick yourself up after a mishap. Being able to do that is a skill not many have mastered.

堅持不懈:沒有什麼比在失敗之後能夠振作的經歷更能說明一個人了。

3 Reasons you should start your own business

#1 Pursuing a Passion
“Turn your hobby into a job” – Haven’t we all heard that before? Making a living out of something which excites us, something we look forward to everyday and something we have fun doing. Starting your own business is one way to pursue a passion. You like writing? Write novels and sell it on your own online platform. You like dancing? Open a Dance Academy. You like volunteering? Start your own NGO. There is nothing stopping you! The world is in your hands!

將您的愛好變成一份​​工作

“將您的愛好變成一份​​工作”大家應該不陌生吧?追求我們樂在其中的事物,開創自己的事業雖然艱辛,但成就感會隨戈。你喜歡寫作嗎?寫小說並在自己的在線平台上出售。你喜歡跳舞嗎?開設舞蹈學院。你喜歡志願服務嗎?建立自己的非政府組織。沒有什麼可以阻止你!世界在您手中!

Grayscale Photo of Printer Paper With Printed Music = Life Near Headphones

#2 Achieve Financial Independence
Let’s be honest- one of the driving factors to entrepreneurship is gaining financial independence. Working for someone else limits our income to a monthly salary and that isn’t very encouraging. Starting your own company means there is potential for growth. The successful your company gets, the fatter your wallet gets.

實現財務獨立

老實說-創業精神的驅動因素之一是獲得財務獨立性。為別人工作將我們的收入限制為月薪,這並不令人鼓舞。建立自己的公司意味著有增長的潛力。公司取得成功,錢包就越發胖。

100 US Dollar Banknotes

#3 Receive Tax Benefits!!!
“The only two certainties in life are death and taxes”- Start-ups and small businesses have a special relationship with the government. The reason why the government is so fond of small businesses is because these businesses help stimulate the economy by employing the people. This saves the extra cost the government has to spend on them. In return, the government helps small businesses by offering them tax benefits.

享受稅收優惠!!!

“生命中只有兩個確定因素是死亡和稅收”-初創企業和小型企業與政府有著特殊的關係。政府之所以如此喜歡小企業,是因為這些企業通過僱用員工來幫助刺激經濟。這節省了政府必須花在他們身上的額外費用。作為回報,政府通過向小企業提供稅收優惠來幫助他們。

American dollar bills and vintage light box with inscription

3 Reasons why an online store is better than an offline store

#1 24/7 Shopping!!!
Who doesn’t love shopping? Is there anything more convenient for customers than being able to shop at 3am while they are scrolling through Instagram and see those beautiful pairs of heels and 2 minutes later, it ends up in their shopping cart? I don’t think so. Having an online store will give businesses a competitive advantage. Their customers can shop at any time of the day.

24小時營業
誰不喜歡購物?我們能夠在凌晨3點上Instagram,2分鐘內下單購物,還有什麼比這更方便的呢?
擁有在線商店將為你帶來競爭優勢,讓你的品牌在24小時都擁有曝光度。

Person Shopping Online

#2 Purchase Funnel Clarity
An online store gives businesses the ability to track how often a particular customer visits their store and what products/services they view. This helps businesses with great insight about someone’s shopping behaviour and can aid them with their marketing strategies. This is something that offline stores do not have access to- and even if they did; it would be quite difficult and time consuming.

認識你的顧客
在線商店使你能夠追踪特定客戶訪問商店的頻率以及他們查看的產品/服務。這有助於你深入了解他們的購物行為,從而制定營銷策略。這是離線商店較難做到的,因為成本會大大提高。

#3 Low Overheads (extra costs)  and High Margins
Having an online store eliminates numerous high costs associated with having an offline store- a pricey office and lots of heavy office equipment. The money that would have been spent on this can now be invested further on developing their websites, into market research and various other things

降低成本,提高效益
擁有在線商店可消除離線商店相關高成本-昂貴的辦公室和辦公設備。本來可以花在這上面的錢現在可以進一步投資於開發你的網站,進行市場研究和其他各種事情。

Stack of US dollar banknotes on marble board

3 reasons why an online store is better than an offline one


3 facts about Hong Kong start-ups you might not know

  • #1 According to a survey conducted by HK LegCo in 2019, the total number of start ups operating in 244 surveyed organisations is 3184.
    根據二零一九年的統計調查結果,在 上述場所經營的初創企 業共有 3 184 家,較二零一七年上升 42.8%(即增加了 955 家初創企 業 )。
Bottom-view of High-rise Buildings
  • #2 Number of HK Startups have grown by almost 42.8% from 2017-2019.
    香港的初創企業數目增長驕人,較二○一七年增加42.8%至3 184間。 而當中金融行業,佔14%,其次是電子商貿/供應鏈管理/物流科技佔11%。

  • #3 Number of employees in these start up companies are 12,478
    這些初創企業共僱用12 478人,比2018年增加了2930人。

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3 Facts about HK start-ups

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