ACASE Innovation and Entrepreneurship Training Workshop
This workshop, held on May 19th 2018, is part of the ACASE’s effort supporting the upcoming Business Plan Competitions (Chunhui Cup and Sunan Cup). Young entrepreneurs and university students gathered at RMIT’s Academic Building to get insights about entrepreneurial skills and to sharpen their business plan writing.
The workshop kicked off with ‘Thinking Business’ by Jewel Huang, Training Director at ACASE. She introduced basic business concepts using three classic models – 4P Innovation Space Model, VRIO, and Five-Force Model - and addressed two questions: where business ideas come from and how to evaluate competitive advantages.
Tim Carroll, Asian Program Director at ACASE, followed with thought-provoking cases to exemplify how to create practical business ideas. He then walked the audience through several essential aspects, from finance to marketing, that every startup must navigate in building a business plan, and the tactics protecting business ideas using intellectual property. He closed with tips on how to make a successful – informative and impressive – pitch in three minutes.
Mark Gandolfo, director of Our Brand Is., gave the audience interesting food for thought on why startups need a brand and how to optimise brand value by engaging with the stakeholders.
Rae Young, founder and owner of UI3, led the last presentation. She shared three universal truths, i.e. engaging user communities, building trust and online scan reading behaviors for web content design. She explained how a great web presence catches the audience’s attention in the first five seconds.
Jewel, Tim, Mark and Rae were then invited to a panel discussion and exchanged viewpoints with the audience on topics including crowdfunding, online branding for certain demographic groups and branding pitfalls for Chinese enterprises entering Australian market.
Overall, this workshop was a great opportunity for startups to share business inspirations.
ACASE would like to thank all participants for sharing an informative Saturday afternoon!
Reminder: Upcoming Business Plan Competition Deadlines
3 June 2018: Sunan Cup submission closes
31 July 2018: Chunhui Cup registration closes
(Authors: Jewel Huang and Kimberly Nie)