Let your creative ideas grow from buds to blooms
The Young Creative Entrepreneur Award (YCE) is a business start-up programme established in 2014 with generous funding of Mr. Brandon T.C. Liu. It is organised annually under the professional development and training branch of kaitak, the Young Artists Agency (YAA). It comprises of preparatory workshops, networking events, and a seed funding scheme, aiming at encouraging final year students and recent graduates (=up to two years after graduation) of the Academy of Visual Arts to develop their creative ideas into executable plans and self-sustainable innovative businesses.
The YCE awards up to four Annual Prizes of HK$5,000 each, and one Grand Prize consisting of a HK$50,000 grant through a business idea competition.
- Annual Kick–off Prize – HK$5,000;
- The winners will receive a cash prize of HK$5,000 to support a test run of a concept or produce a prototype, which could be a book, a mobile app, or a sample product, etc. for demonstration.
- Business Start-up Grand Prize – HK$50,000;
- The prize is a grant of up to HK$50,000 to help implement original, innovative and well thought-out project-oriented business concepts.
- The grant amount to be given out will be subject to the availability of funding and quality of applications received.
From 2015 onwards, the winners of the YCE will have the opportunity to submit a proposal to apply for a seed funding loan in order to grow their innovative businesses.
- Business Development Loan – max. HK$100,000.
- An interest-free loan of maximum HK$100,000 to help YCE winners to further develop their businesses.
| Schedule |
A series of workshops will be offered in June 2016 to help those who are interested to enter YCE in writing up their business ideas to develop a stronger project.
The rise of the Internet, smart technology and the ‘knowledge economy’ have opened new horizons for the ‘creative class’ to thrive in the market. You may wonder what is the key factor for those creative minds to achieve success. In this workshop, we will look into the business models of a few successful creative entrepreneurs and discuss the secrets of how they co-opted creativity to develop business ideas as well as their strategies to tackle obstacles.
No matter whether you’re participating in a competition for seed funding or starting a new business with your own funds, it is inevitably necessary to draft a plan of your activities to map out task schedules, budget, resource allocations and so forth. In this session, we will check out what are the essential elements one must include in his/her business plan as well as some tips we concluded from previous YCE projects.
Imagine that you have won seed funding and are now working around the clock for your infant business that you devoted yourself to for the past 6 months but then you’re suddenly accused of copyright infringement: a nightmare, but unfortunately very possible. In this workshop, we will look into Intellectual Property Rights to find out how youcan protect your product as well as your creativity. We will also study one or two contract samples and untangle their tricky points.
Call it an eternal recurrence! Every time you apply for a degree or a job, you need a transcript and/or a CV, but usually – more crucially – you need to perform well in the interview. This is certainly true for a creative business! A decent pitching does not only give the fund granter, investor or judges a better understanding of your idea or product, it also increases their confidence in your management skills. Hence, let’s figure out how to pitch well in this session and not to let your efforts be in vain!
Networking events will also be arranged amongst students and alumni to learn from each other’s experience and share their creative ideas.
- Deadline for submission of proposals for the competition –
11 July 2016Extended to 29 July 2016
- Panel Shortlist – Late July 2016
- Project Pitches – Early September 2016
- Notification of results – Late September 2016
- Award Presentation – Early October 2016
| Application |
Applications can be made on an individual or group basis. For individual applicant, he/she must be:
- final year students of Associate Degree in Visual Arts, BA (Hons) in Visual Arts or Master in Visual Arts offered by AVA;
- students from AVA’s Research Postgraduate (MPhil/PhD) programmes;
- recent graduates of AVA
For group applications, the principal applicant must fulfil the above eligibility criteria for individual applicant, but there is no such limitation for other group members.
The deadline of proposal submission is on 17:00 on 29 July 2016. Applicants are required to submit a completed application form, CV(s) and a business proposal. All business proposals should include the information listed in Appendix A.
Applicants will be informed in mid-August 2016 whether their proposals are shortlisted. Shortlisted applicants will need to attend a pitch, tentatively scheduled for early September to present their projects. Winners of the competition will be notified in mid-September 2016, and are expected to attend the awards presentation (to be confirmed). Any award will be payable through bank cheque to the principal applicant.
| Obligation |
All winners of the YCE are obliged to submit a comprehensive report upon the completion of the project; they are also expected to share their experience with others at seminars to be organized by the Young Artist Agency.
| Selection Criteria |
Applications will go through two rounds of assessment. The judging panel will assess the proposals individually in the first round. The 10 applications with the highest average score will be shortlisted to the pitching session, where the shortlisted applicants will be invited to present their proposal. The judging panel will reassess the proposal based on the presentation. The selection criteria are as follow.
- Innovativeness (40%) (0 – 5 score)
- Is the concept is creative and original?
- Does the project outcome provide a new experience to the target viewers/users?
- Feasibility (30%) (0 – 5 score)
- Is the project is realistic and well planned? Is the applicant is capable of delivering the project?
- Sustainability (20%) (0 – 5 score)
- Is the project financially viable long-term?
- Has the target market for the project been considered?
- Formality (10%) (0 – 5 score)
- Does the proposal contain all the required information?
- Is the content presented clearly and convincingly?
| Rules and Regulations |
- All proposals should be written in English.
- The length of proposal should not exceed 10 pages (including appendix).
- You can only submit your proposal once. Further details may be incorporated into your presentation but dramatic changes will undermine your credibility severely limiting your chances of winning the Competition.
- The deadline for proposal submission is on 29 July 2016.
- The judging Panel will shortlist 6–10 applicants for interview in early-September 2016. (Exact date will be confirmed after the submission of proposals.)
- The contestant(s) will be assigned random timeslots for presentation.
- All members of each team must be present at the presentation. Any absentee from each team may constitute disqualification unless having prior written approval from the Organizer.
- Presentations should be in English only.
- The presentation consists of 15 minutes without interruption from the judges followed by a question-and-answer session for 15 minutes.
- Any team requiring proprietary software and equipment to demonstrate its plan is responsible for providing it and arranging installation.
Confidentiality and Intellectual Property
- The proposal should be original and should not infringe any copyright owned by any third party.
- The authors of the business plan will retain all proprietary rights to the plan regarding its use at all times prior to and following the competition
- All contestants will be responsible for taking the proper steps to protect their intellectual property.
Proposal and CVs should be in PDF, DOCX or ODF format.
- Name of principal applicant :
- Year of graduation :
- Student ID and HK ID:
- Contact number :
- Name of all partner/ group members :
- Year of graduation of all partner/ members :
- HK ID of all partner/ members :
Information required in the proposal
- Project title
- Executive summary
- Project objectives and description
- Anticipated outcome and benefits of the project to the applicant’s development
- Project timeline and execution plan
- Targets, market analysis and marketing plan
- Budget plan – project expenses and/or possible income and amount requested
- Expected long-term impact to the community
- Methods for measuring performance
- Description of applicant’s experience and knowledge in the field of the project and short backgrounds of the core members
BY SUBMITTING YOUR APPLICATION, YOU, AS THE PRINCIPAL APPLICANT, ACKNOWLEDGE THAT YOUR PROJECT AND/OR PROPOSAL IS ORIGINALLY DEVELOPED BY YOURSELF AND YOUR COLLABORATORS AS NAMED IN THE APPLICATION, AND THAT IT DOES NOT INFRINGE ON ANY COPYRIGHT AND/OR INTELLECTUAL PROPERTY RIGHTS OF OTHER THIRD PARTIES. SHOULD THERE BE ANY COPYRIGHT DISPUTE REGARDING YOUR PROJECT AND/OR PROPOSAL IN THE PAST, PRESENT OR FUTURE, IT IS YOUR SOLE RESPONSIBILITY AND THE ACADEMY OF VISUAL ARTS SHALL NOT BARE ANY OBLIGATION TO ANY LEGAL COMPLAINT.
| Apply Now |
Mr. Kevin LAW