HKUST Annual Report 2017-18

A N N U A L R E P O R T 2 0 1 7 - 1 8 HKUST 15 introduced the experiential “Entrepreneurship 1001: Building Your Own Future” course in which students unpack the start-up process via setting up an online shop and a field trip to Shenzhen. The Entrepreneurship minor program expanded in both enrolment and content, bringing the total number of students enrolled in entrepreneurship courses to 130. Over 45 entrepreneurship seminars (+21%), workshops, and talks took place over the year and more than 2,800 students (+110%) attended the events. Inspiring Support The new Leapfrog initiative generated further experiential opportunities and cultural exchange with overseas students and entrepreneurs. The first international learning tour took place in January 2018 where students explored e-commerce and the start-up ecosystem in Seoul. A further trip to Sydney was scheduled for July 2018. In the national arena, HKUST students attended Fudan University’s Bauhinia Valley Program in December 2017 and May 2018 to engage in entrepreneurship activities. In total over 40 students participated in the Leapfrog program over the year. The HKUST U*STAR Program usefully assisted students in developing business propositions and strengthening investor fund-raising capabilities. Since launch in 2016-17, the program has received 27 applications from more than 10 departments and programs. Several entrepreneurship-related funds are also now available to kickstart early-stage ideas and start-up activities. In 2017-18, the Yeung Wing Yee Entrepreneurs Fund supported 13 HKUST start-ups, the Entrepreneurship Acceleration Fund assisted 38 innovative projects while Alumni Endowment Fund (AEF) Student Start-up Grants supported 8 projects. On the development front, the Entrepreneurship Center assisted several start-ups to join the Cyberport Incubation Programme and Cyberport University Partnership Programme. Competitive Edge Demonstrating the strong potential of many HKUST start-ups, students and alumni teams won several prestigious awards over the year. Achievements included the Grand Award and Gold Award in the Student Innovation category at the Hong Kong ICT Awards and the top prize in the “GCL Cup” International College Student Green Energy Science and Technology Innovation & Entrepreneurship Competition, beating 70 teams. Four HKUST technology start-ups received the Analyst’s Choice Award at the Startup Launchpad 2018 – Consumer Electronics trade show. Only 20 start-ups out of 200 participating fledgling companies were selected for the award. The renowned HKUST One Million Dollar Entrepreneurship Competition expanded to include Foshan and Zhongshan in 2018, bringing the total number of cities holding the competition to seven. In the Hong Kong regional competition, the event attracted 101 teams, encompassing HKUST students, alumni, faculty, and researchers, as well as a title sponsor for the first time. The award ceremony in June 2018 was broadcast via Facebook Live to enable more people to share the occasion. The winner was Sinocore Biotechnology Ltd, which received the President Award, Innovation Award and The Mills Sustainability Prize for a refined version of flocculant, which can separate sewage water into sludge and water and also catalyze sludge fermentation. The Entrepreneurship Center served as coordinator for all the regional competitions. for postgraduate students to engage in international collaboration and widen training and research options. Extending Horizons Over 350 scholarships were awarded to 310 postgraduates totaling $12.54 million in 2017-18. This brought the total amount of scholarships granted to undergraduate and postgraduate students to $82.64 million, a 10% increase compared with 2016-17. HKUST recruited the largest number of Hong Kong PhD Fellowship Scheme participants, attracting 54 out of 231 (23% of the total) awardees for 2018-19 admission. Fellowship students come from 19 countries and regions, adding considerably to the internationalization of the University’s research student community. The Professional Development Course, introduced in 2013-14 to cultivate all-round capabilities among postgraduates, became a uniform requirement for all research postgraduates admitted from 2017-18 onward. The course comprises a mandatory component on professional conduct and a choice of activities and workshops on communication skills, research competency, entrepreneurship, self-management, and career development. STUDENT ENTREPRENEURSHIP A diverse range of activities are available through the Entrepreneurship Center and across the University to encourage students to gain experience in transforming knowledge into businesses and services and to set up their own companies. In 2017-18, the science and technology section of the Common Core program