Lingnan Entrepreneurship Initiative (LEI)
1 January 2019
Entrepreneurial spirt is essential to all successful initiatives, including knowledge transfer activities. The EKT Fund aims to promote entrepreneurship at Lingnan University by encouraging students to lead meaningful knowledge transfer projects using their academic knowledge.
The EKT Fund will support students with innovative ideas, practical solutions and executable plans to challenge status quo for the betterment of the society. Students can use the EKT Fund to develop prototypes for new product or proof of a new concept that will lead to or is aimed at starting a NGO, social enterprise or company for impact on humanity. Each project can receive up to $20,000. The fund should not be considered as an investment to sustain a business, it is the seed fund for project and business start-up.
- The project must be led by at least one full-time Lingnan student as Project Leader and have at least one full-time academic member as project advisor. Final year students are also eligible.
- The project leader may invite alumni and external experts to join the project.
- Main contributions of the project must be related to the Project leader’s academic focus, i.e. major or minor.
- The EKT Fund may be used to:
- Develop proof-of-concept and proof-of-impact projects
- Establish NGO, non-profit, and other social innovation entity
- Startup company or social enterprise
- Conduct applied research with the intention to commercialize the product or solution
- Scaling up an existing project (less than 24 months old)
In principle, the amount of fund reflects the merits of the proposed project. Projects that involve the active and extensive participation of Lingnan students, concrete partnership with the community partners/NGOs and result in significant and sustainable impact will be given higher priority.
Assessment will be conducted by the EKT Fund Management Committee on the basis of:
- Potential impact of the project
- Comprehensiveness, originality, and innovativeness of the project
- Feasibility and sustainability of the project
- Quality of the execution plan
- Commercial viability and potential to attract additional investment
- The team and proposed partners’ professional capability
- The extent of social, economic, environmental and cultural impact on the service recipients
- Funding decisions are usually announced within one month upon the closing of the application deadline.
- The Fund will be paid in the form of reimbursement. Up to 20% of the Fund may be advanced at a time to the Faculty Supervisor for project execution. Following cash advance of 20% may be arranged after all receipts are received for the previous cash advancement(s). Unspent fund must be returned by the end of the project period.
- After successful completion of the project, presentation of the original receipts and evaluation report are required. All changes to the approved projects and deferral of completion date require the approval of the EKT Fund Management Committee in advance.
- The Fund is a token subsidy and can be held concurrently with other subsidies and sponsorships. However, applicants are required to declare and report on details of any subsidies and sponsorships already received at the time of application or as soon as they are awarded.
- Projects are required to submit a final report within one month upon the completion of project. The final report should include:
- An account of the activities carried out (with information on date, time, venue, number of participants, etc);
- An evaluation of the project with details on:
- Impact of the project against agreed objectives;
- Results achieved;
- Use of the Fund;
- Ways of disseminating the project results or findings inside and outside of campus;
- Obstacles encountered and areas for improvement;
- Feedback and evaluation by Lingnan students (e.g. learning reports, reflective journals, questionnaire, focus group, etc.) and beneficiaries (e.g. surveys, focus groups, etc.);
- Further developments and sustainability of the project;
- A financial statement with all the original receipts for expenses incurred within the project period;
- A video and/or photo CD of all the project activities;
- If needed, OSL may invite project teams for meetings to review the progress during the project implementation phase. Upon completion of the projects, project teams may be invited to present their findings and outcomes to the University community and wider public. OSL and other units of the University, such as OCPA and ORS, may also use the materials provided in the report for publicity purpose.
- Applicants should submit their application and proposal online to OSL.
- Project proposal should be limited to 4 pages (in 12-point font) and include the followings:
- Project title;
- An executive summary;
- Objectives of the project;
- Description, format and schedule of activities (e.g. date, time, duration, venue, and target number of participants, etc.);
- Information of the Project Advisor and CVs of the Project Leader and project team members;
- Information of the community partner(s), investor(s), and/or NGO(s);
- Expected number of Lingnan participants;
- Type and expected number of target beneficiaries;
- Expected outcomes, achievements, impact, and contributions of the project
- On students
- On target beneficiaries
- On local community being served
- Income (e.g. programme fee, contribution by volunteers, etc.)
- Other sources of financial support (e.g. donation, sponsorship, etc.)
- Expenses (on the volunteers and on the activities/programmes/trip)
- Amount of EKT Fund being sought
- Key Performance Indicators and Measurement (i.e. how the impact/performance will be measured)
- On volunteers
- On target beneficiaries
- On local community being served
- Overall project evaluation
- Sustainability of the project/business
- Plan on how to share the project outcomes and impact with the Lingnan community and the wider public.
4. Applicants with preliminary ideas are welcome to meet with OSL for advice and comments before drafting a comprehensive proposal.
5. A successful applicant will be disqualified and/or, where appropriate, be required to refund the EKT Fund granted if he/she provides any false or misleading information to the EKT Fund Management Committee.
Tel: 2616 8074 / 2616 8063 / 2616 8072
Walk-in: Office of Service Learning, LBY101