Frederick Yung W'S' Yung

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Frederick Yung W.S. Yung ? ? ?

• B. Comm. (Loyola College, Montreal, Canada)
• M.B.A. (U. of British Columbia, Canada)
• Senior Mgr, HK Sci Tech Parks Corp. incubating
  gt200 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_at_hkstp.org
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• ? ? ? ? ? ? ? ?
• ? ? ? ? ? ? ? ?
• ? ? ? ? ? ? ? ? ? ? ? ?
• Creativity starts from conflict
• Value is the combination of creativity
• The more the conflict, the more the creativity,
  the more the value

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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 Kongs position as a product
  development centre
• Enhance Hong Kongs position as a window to the
  world.

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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 RD Centres spearheaded
and supported by the HKSARG
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The Incubation Cycle
Marketing Admission
Move-in Logistics SEC Services
Account Mgmt Incubation Support Services
Refer to Mktg, Graduation, Move-out Logistics
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Soft Landing International Incubator

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

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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

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Business and Technical Support

• - Account Service
• - Technical Management
• - Business Matching
• - Training Education
• - Promotion
• - Networking
• - Aid Package
• - Office Premises
• - Communal Service

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

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Mandatory Admission Criteria

• Conduct most RD 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.

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Qualitative Admission Criteria

• Quality and competence of the management team
• Business viability
• Innovativeness
• Technology/ RD content
• Milestones set for the 6th and 18th month after
  admission

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Assessment Panel

• 3 HKSTP Vice Presidents
• A University professor

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Turnaround Time

• Usually will be notified in about 11 weeks upon
  receipt of completed application form

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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
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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

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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.

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Incubatees and Graduates statistics as of 31 Dec
2008

Incubation-statistics(31Dec08)_(no
STEP)__3Feb09revised_RD6fmP
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Incubatee Success Scores
0804_Designtech_incubatee Success Score 5 yrs
(updated 8 Apr 08)
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Technology-based Incubatee / Graduates /STEP
Graduates Success Scores
0804_tech (Fred)_Incubatee Success Score_5 years
Updated on 7 Apr 2008
BDTS (Fred Yung)
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Design-based Incubatee / Graduates /STEP
Graduates Success Scores
0804_design(rebekah)_Incubatee Success Score_3year
Updated on 7 Apr 08
BDTS (Rebekah)
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For further information
HK Science Technology Parks http//www.hkstp.o
rg Enquiry 2629 6707
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The One Sentence Marketing Plan
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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)
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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)
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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)
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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 -? Sa, ??

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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 -? Sa, ?? Charlene Gillian

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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)
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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?)
  

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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)

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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)
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The One Sentence Marketing Plan

• How do you know
• You can sell this product
• to these places
• Retail
• - location, location, location (Sogo, ????,
  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 ???)

Frederick W.S. Yung (7 Mar 09)
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Frederick W.S. Yung (7 Mar 09)
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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)
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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)
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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)
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The One Sentence Marketing Plan

• How do you know
• You can sell this product
• within this period of time
• Product life-cycle management
• (Wrigleys chewing gum)
• Factor of resources distribution
• promotion
• production
  capacity

Frederick W.S. Yung (7 Mar 09)
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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)
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The One Sentence Marketing Plan

• The advanced
• Market Positioning
• determines
• Product, Price, Place, Promotion

Frederick W.S. Yung (7 Mar 09)
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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)
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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)
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The One Sentence Marketing Plan

• The most unbelievable
• quantity policy
• (8 items) Express Counters
• at supermarkets

Frederick W.S. Yung (7 Mar 09)
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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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The One Sentence Marketing Plan

• The most unbelievable
• product policy
• 20 L C D T. V.

Frederick W.S. Yung (7 Mar 09)
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The One Sentence Marketing Plan

• The most unbelievable
• distribution policy
• Cable TV
• In living room bed room

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