leung 2015

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Published on January 21, 2008

Author: Demetrio

Source: authorstream.com

Origins and Dynamics of University Spinoff Enterprises in Hong Kong :  Origins and Dynamics of University Spinoff Enterprises in Hong Kong By Ms. Mandy Leung and Professor John Mathews MGSM, Macquarie University Overview of this Presentation:  Overview of this Presentation Rationale of the HK Study Background of universities in HK Needs and Drivers of Technology Transfer in HK The spinoff phenomenon University spin-offs in HK Methodology Overview of this Presentation:  Overview of this Presentation Important Issues and Key Findings of the Hong Kong Study - Motivation; - Mode of TT from universities to RBSOs to customers; - Main functions performed by RBSOs; - Obstacles affecting TT of RBSOs; - Means to develop RBSOs in future Concluding Remarks Rationale of the HK Study:  Rationale of the HK Study Strong interest in studying RBSOs as a catalyst of economic growth & development; Relatively young history of RBSOs and TT development (15 years); HK is a small but highly populated international city with 5 universities with different TT strategies and outcomes; Rationale of the HK Study:  Rationale of the HK Study Strong entrepreneurial culture in HK; HK enjoys a ‘latecomer advantage’ and is an attractive location to promote and study the RBSOs phenomenon; This is the first comprehensive review of the HK’s spin-off experience. Hong Kong was a British colony before handover to China on 1 July 1997. Background of Universities in HK:  Background of Universities in HK Population is 7 millions; HK has 8 universities in total and the student population is 91,786 (2005/06); All universities are government funded but recently universities have initiated some self-financed activities to support shortfall in government funding. Background of Universities in HK:  Background of Universities in HK Among 8 universities in HK, only 5 have engaged in TT activities: - City University of Hong Kong (CityU); - Hong Kong Polytechnic University (PolyU); - Hong Kong University of Science and Technology (HKUST); - University of Hong Kong (HKU); - Chinese University of Hong Kong (CUHK). Needs and Drivers of Technology Transfer in HK:  Needs and Drivers of Technology Transfer in HK HKSAR (Hong Kong Special Administrative Region) initiated Commission on Innovation and Technology (CIT) chaired by the late Professor Tien Chang-Lin aimed at increase HK competitiveness as a high tech centre like Silicon Valley. Reports CIT1999 and CSD 2000; Needs and Drivers of Technology Transfer in HK:  Needs and Drivers of Technology Transfer in HK The institutional environment was enhanced with the establishment of : ITF (Innovation and Technology Fund) with USD 640 millions - Innovation Technology Support Program; - University-Industry Collaboration Program; - General Support Program; - Small Entrepreneur Research Assistant Program Needs and Drivers of Technology Transfer in HK:  Needs and Drivers of Technology Transfer in HK ASTRI (Applied Science and Technology Research Institute) established in 2001; HKPC (Hong Kong Productivity Council) government funded technology-promoting arm for industries in HK; Hong Kong Science and Technology Park (newly formed to house technology-based incubators with or without academic linkages). The Spinoff Phenomenon:  The Spinoff Phenomenon Hong Kong universities have been active in promoting ‘academic entrepreneurs’ which is culturally fit with the enterprising environment in HK; HK study found entrepreneurial needs are the key motivators of academic founders of RBSOs in HK; The Spinoff Phenomenon:  The Spinoff Phenomenon Network capability (NC) and entrepreneurial orientation (EO) positively affected the spin-off performance in HK; HK universities have established TTOs, TLOs and TDCs owned and operated by universities to promote and commercialize TT. University spin-offs in HK :  University spin-offs in HK As of 2006, the 5 universities have launched no. of RBSOs: City University of Hong Kong : 25 Hong Kong Polytechnic University : 11 Hong Kong University of Science and Technology: over 50 University of Hong Kong : 9 Chinese University of Hong Kong : 3 University spin-offs in HK:  University spin-offs in HK Difficulties of studying the RSBOs in HK - no centralized published statistics or documents; - some IT-enabled RSBOs are badly affected by dot.com bubble; - severe economic downturn in HK post-1997 till 2005; Relatively high survival rate of 78.57% for the first 5 years of the RBSOs in this HK study. Methodology:  Methodology Total population of spin-offs was 56 collected from 1997 to 2004; Both quantitative (using factor analysis & rotation) and qualitative assessment were used; Pilot test the questionnaire and structural interviews with founders and senior management of RBSOs; and Heads of TTOs from March 2002 to August 2006; Important Issues and Key Findings of the Hong Kong Study:  Important Issues and Key Findings of the Hong Kong Study Motivation - Extrinsic and financial needs are not the primary motivators; - Primary motive is to satisfy intrinsic needs firstly the entrepreneurial needs; secondly achievement needs; thirdly freedom to explore new ideas. Important Issues & Key Findings of the Hong Kong Study:  Important Issues & Key Findings of the Hong Kong Study Extrinsic factors Optimism (-0.93) To develop second career and future employment (0.92) Monetary reasons (0.90) Frustration with academic and university life (0.86) Intrinsic factors High need for achievement (0.94) Freedom to explore new ideas (0.87) Entrepreneurial needs To satisfy entrepreneurial needs (0.98) Important Issues & Key Findings of the Hong Kong Study :  Important Issues & Key Findings of the Hong Kong Study Motivation - Less flexibility in academic terms of employment and can de-motivate / affect the spin-offs development. - Lack of entrepreneurial skills is one of the main obstacles among founders of RBSOs especially in founding years. Mode of TT from universities to RBSOs:  Mode of TT from universities to RBSOs TT from universities to RBSOs - At FY, main objectives are to generate sufficient revenue for survival typical of ‘unaware’ environment; - At year 2004, the TT mode changed to focus on product-oriented, service-oriented, resource-oriented and management training. The environment is moved to ‘aware’. Mode of TT from universities to RBSOs (FY):  Mode of TT from universities to RBSOs (FY) "Hard" Technology & Skills Transfer Sales or purchase of products / services (0.86) Subcontract product development (0.82) Cooperation in research (0.82) "Soft" Technology & Skills Transfer Consulting (0.74) Training in management (0.66) Transfer of people (0.61) Mode of TT from universities to RBSOs (2004):  Mode of TT from universities to RBSOs (2004) Product-oriented Technology Transfer Cooperation in product development (0.94) Subcontract product development (0.87) Sales or purchase of products / services (0.74) Management Training Training in management (0.97) Service-oriented Technology Transfer Consulting (0.96) Patenting and licensing (0.94) Resource-oriented Technology Transfer Transfer of people (0.95) Sales or purchase of products / services (-0.56) Mode of TT from RBSOs to customers:  Mode of TT from RBSOs to customers TT from RBSOs to customers - Similar pattern at FY strong emphasis to market products and services to customers for survival; - At year 2004, more focus on new product and technology development; and enhancement of existing technology to build long term partnership relationship with customers. Mode of TT from RBSOs to customers (FY):  Mode of TT from RBSOs to customers (FY) "Hard" Technology & Skills Transfer Training in management (0.97) Patenting and licensing (0.97) Transfer of people (0.82) "Soft" Technology & Skills Transfer Sales or purchase of products / services (0.86) Subcontract product development (0.86) Consulting (0.67) Mode of TT from RBSOs to customers (2004):  Mode of TT from RBSOs to customers (2004) New Product and Technology Development Training in management (0.91) Cooperation in product development (0.91) Patenting and licensing (0.90) Cooperation in research (0.78) Enhancement of Existing Technology Consulting (0.87) Transfer of people (0.75) Subcontract product development (0.69) Sales or purchase of products / services (0.64) Mode of TT from RBSOs to customers:  Mode of TT from RBSOs to customers Importance of consulting increased from founding year to AY2004 in both forms of TT from universities to RBSOs to customers. RBSOs become very customer-focused and technology-driven at later year. Main functions performed by RBSOs:  Main functions performed by RBSOs At FY, the RBSOs performed revenue generating functions and provide technology outsourcing and channel enhancement, product enhancement, and value-added services to customers; At year 2004, the RBSOs focus on channel development and supporting services, and value-added services to customers. Increase customers operation efficiency with consulting is one of RBSOs competitive advantages. Obstacles affecting TT of RBSOs:  Obstacles affecting TT of RBSOs At FY, the main obstacles are: - Lack of entrepreneurial and business skills; - Weak in partnership and network /business relationship; - Lack of long term commitment even trust among founders, lack of time to develop the technology further and small market size. Obstacles affecting TT of RBSOs (FY):  Obstacles affecting TT of RBSOs (FY) Entrepreneurship and Business Skills Lengthy and complicated patent and licensing issues (0.94) Lack of best business practices (0.79) Lack of entrepreneurial skills (0.78) Long Term Commitment Lack of trust among partners (0.87) Lack of time to develop technology further (0.72) Small market size (0.70) Partnership and Networking Lack of innovation clusters/ networks (0.90) lack of potential business partners information (0.72) Lack of financial resources and funding (0.72) Lack of marketing information (0.71) Obstacles affecting TT of RBSOs:  Obstacles affecting TT of RBSOs At year 2004, the main obstacles are: - Technology risk management issues; - Lack of business routines and networks; - Lack of long term commitment and synergy among partners; - Resources constraints. Obstacles affecting TT of RBSOs (2004):  Obstacles affecting TT of RBSOs (2004) Obstacles affecting TT of RBSOs Lengthy and complicated patent and licensing issues (0.94) The technology is perceived as too risky (0.79) Business Routines and Networks Lack of best business practices (0.92) Small market size (0.76) Lack of innovation clusters/ networks (0.55) Long Term Commitment and Synergy Lack of trust among partners (0.95) Lack of potential business partners information (0.83) Resources Constraints Lack of financial resources and funding (0.73) Lack of marketing information (0.72) Means to develop RBSOs in future:  Means to develop RBSOs in future Institutional Transformation and Alignment: - Active support from universities and industries; - Flexibility in academic term of employment; - Government funding and infrastructure support to develop a sustainable TT strategy. Means to develop RBSOs in future:  Means to develop RBSOs in future Resources, Relationship and Routines Support: - Structured training and network especially in entrepreneurial and management skills; - Set up a centrialized body to support RBSOs to create better synergy and sharing of best practices; - Interesting longer incubation period of more than 3 years are not considered as important even it is desirable from structural interviews with founders. Concluding Remarks:  Concluding Remarks The overall 5-year survival rate of 78.57% of the population studied is encouraging; 2. The TTOs in HKUST will identify international reputable JV partner, Geron, at the initial stage of RBSOs formation like the TA Therapeutics Ltd. to maximize the chance of success; Concluding Remarks:  Concluding Remarks Greater incentives, flexibility in academic term of employment and institutional alignment to promote RBSOs development in HK; The TTOs should actively ‘match’ the academic entrepreneur with potential investors so the RBSOs can survive and overcome the constraints faced at the initial stage of formation; Concluding Remarks:  Concluding Remarks 5. The university should exit as soon as convenient to let the RBSOs find its own way in the world of international business. Still the university should provide a platform to facilitate the new RBSOs to learn the critical success factors from the spin-out companies. Slide36:  Thank You!! Question and Answer Session. Mandy Leung : leungmingchu@gmail.com and Professor John Mathews : john.mathews@mq.edu.au

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