How does an Engineer-Entrepreneur Benefit from his MBA?

Wayne Chan

Part-time, Class of 2014

Pre MBA:                             Senior Marketing and Product Manager,

                                               Automatic Manufacturing Limited

Post MBA:                           Managing Director, Alliance K Medical Device Limited, Hong Kong

                                              Managing Director, IHP Limited, Hong Kong

 

Establishing his own business has always been Wayne Chan’s ultimate goal though he was trained as a professional engineer.  After some thorough research, he concluded that an MBA would be the starting point to achieve his aspiration.  As a CUHK alumnus, he has faith not only in his alma mater but also in its MBA Programme as no other local universities offered an entrepreneurship concentration at that time.

“Courses in entrepreneurship were extremely practical and hands-on.  We acquired fundamental skills like writing funding proposals and convincing potential investors. We were also required to complete all projects using the mindset of an entrepreneur.  That means students are well-prepared to start their business as soon as they graduate.” 

Wayne is now the Founder and CEO of two startups.

His first startup is in the field of medical devices.  A one-stop service provider, Alliance K’s scope of business extends from design, development, manufacturing, quality inspection to distribution. Now in its fifth year of operation, the company has become the sole device supplier to Hong Kong’s two top laboratories.

IHP Company, on the other hand, represents Wayne’s more recent attempt to ride on technology.  Focusing on robotic writing and drawing technologies for food products, IHP is currently a supplier to two major food and beverage chains in Hong Kong.

Wayne said skills and techniques taught at the MBA Programme are multifaceted and highly applicable to his present capacity.  For example, whilst the marketing courses have prepared him to deal with potential clients, finance and accounting modules enabled him to gain essential knowledge such as interpreting balance sheets, preparing budgets and understanding contract terms.

Participation in The MAI Bangkok Business Challenge in 2015 is the most memorable throughout his MBA journey. The event featured a number of assessments of innovation, product/service commercialisation and entrepreneurial spirit to attract venture capital funding, ranging from preparing a traditional business plan, presenting to a panel of judges, making an exhibition booth to attending a 99-second pitch.  The CUHK MBA team competed with 48 international MBAs/EMBAs from 18 countries and ranked among the top five.  In Wayne’s eyes, having been able to integrate classroom learning with real-world practice and to develop the entrepreneurial spirit in different dimensions is surely a once-in-a-lifetime experience.

CUHK’s extensive alumni network is an invaluable asset for those who are about to embark on their business adventure.  Alumni events provide the platform where Wayne can meet fellow schoolmates from different sectors, and build connections on either a personal or professional level.   Wayne also shared with professors his new products and asked for their comments and feedback, and one of them even invested in one of his startups!

Wayne is more energetic than ever and he knows he needs to stay on top of things.  Finding staff with the right skill sets is a major challenge.  What he wants to do next is to delegate and to look for new and stable partnerships with large corporations.

“You may feel uncertain about starting your own business NOW, but give it a try when you need a breakthrough.  CUHK MBA has prepared me for this challenge.  You’ll need much support from your family and friends.  But it‘s worth trying!”