Research Development and
Consultancy Limited

About Startup

Building a startup involves several steps and requires careful planning and execution. Here are some steps to guide you:


  1. Identify a Business Idea: The first step is to identify a business idea that you are passionate about. This could be a problem you want to solve or a product or service you want to offer.


  1. Market Research: Conduct thorough market research to understand the demand for your product or service, identify your target audience, and analyze your competition.


  1. Business Plan: Develop a detailed business plan outlining your business model, marketing strategy, financial projections, and other key details.


  1. Build a Team: Assemble a team with the necessary skills and expertise to execute your business plan. This could include co-founders, employees, advisors, and mentors.


  1. Legal Structure: Decide on the legal structure of your business (e.g., sole proprietorship, partnership, corporation) and register your business.


  1. Funding: Determine how you will fund your startup. This could be through personal savings, loans, investors, or crowdfunding.


  1. Prototype and MVP: Develop a prototype or minimum viable product (MVP) to test your idea and get feedback from potential customers.


  1. Launch: Once you have refined your product or service based on feedback, you can officially launch your startup.


  1. Marketing and Sales: Implement your marketing and sales strategies to attract customers and generate revenue.


  1. Scale: Once your startup is successful on a small scale, you can start to scale up by expanding your team, increasing production, or entering new markets.


Remember, building a startup is a journey that involves learning, adapting, and persevering. It’s important to stay flexible and be willing to pivot your business model or strategy as needed.

Startup raises money

Startups typically go through several stages of funding as they grow and develop. Here’s a general breakdown:


  1. Pre-Seed Funding: In the early stages, many entrepreneurs fund their startups themselves, using personal savings or loans or seeking small investments from friends and family.


  1. Seed Funding: Seed funding is typically the first official equity funding stage. It usually takes the form of a convertible note or, less commonly, preferred stock. Seed funding is used to support market research and product development, and often comes from angel investors or early-stage venture capital firms.


  1. Series A: Once the startup has a track record of success (a developed product, growing user base, consistent revenue), it may seek Series A funding. This is typically used to optimize the product and user base. Series A funding often comes from venture capital firms, including those that specialize in early-stage funding.


  1. Series B: Series B funding is used to scale the company, increasing production and expanding into new markets. By this stage, the startup should have a substantial user base and consistent revenue. Series B funding often comes from venture capital firms, including those that specialize in later-stage funding.


  1. Series C and Beyond: Series C funding is used to scale the company even further, often to prepare for an acquisition or IPO. By this stage, the startup is usually successful and profitable. Series C funding often comes from private equity firms, hedge funds, and banks.


  1. IPO: An initial public offering (IPO) is when a company’s shares are sold to the public for the first time. This is a way to raise a large amount of capital, but it also comes with increased scrutiny and regulatory requirements.


Remember, not all startups will go through all of these stages, and the lines between stages can be blurry. The funding needs and opportunities for each startup will depend on many factors, including the industry, market conditions, and the startup’s specific business model and strategy.

About HKMU Startup Fund

  • HKMU students
  • HKMU alumni
  • HKMU academic staff
Shortlisted applicants will be invited to a series of interview(s) by the Selection Committee, which will evaluate the proposals by the following criteria:
  • Innovation and creativity;
  • Business model and strengths;
  • Stage of development (e.g. research and development, prototyping, and commercialization stage);
  • Potential impact on industry and society; and
  • Presentation and interview performance.