Entrepreneurship - Higher Colleges of Technology · The changing of internal regulations, rewards, incentives and governance necessary to remove any internal barriers to applied research,

HCT 4.0 | ENTREPRENEURSHIP Focal Strategy 2017 - 2021

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This document details the extrapolation of the HCT 4.0 strategy in the context of Entrepreneurship for HCT and it is the culmination of input gathered through several meetings, interviews and workshops from internal and external stakeholders.

Abstract

EntrepreneurshipFocal Strategy 2017 - 2021

THE STRATEGY & FUTURE DEPARTMENT(For any queries or comments concerning the contents of this document)

Contents1. Aims & Aspirations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22. Alignment to National Strategies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2.1 National Innovation Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2.2 UAE Vision 2021. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2.3 The Abu Dhabi Economic Vision 2030 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2.4 Dubai 50-year Charter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2.5 The National Agenda . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33. Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 3.1 Key Challenges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 3.2 Future Foresight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 3.2.1. Trends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54. Core Focus Areas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 4.1 Leadership and Governance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 4.2 Entrepreneurship Education at HCT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 4.2.1. Innovation in Teaching and Learning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 4.2.2. Interdisciplinarity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 4.3. Creating Entrepreneurs at HCT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 4.3.1. Supporting student Entrepreneurship . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 4.3.2. Supporting faculty in Entrepreneurship . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 4.4. Industry Collaboration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 4.4.1. CERT (Centre of Excellence for Applied Research . . . . . . . . . . . . . . . . . . . . . . . 7

and Training) 4.4.2. Linking students with the local economy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 4.4.3. Entrepreneurship in social and community development . . . . . . . . . . . 7 4.5. The UAE Entrepreneurship ecosystem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 4.6. Entrepreneurship Resources and Infrastructure . . . . . . . . . . . . . . . . . . . . . . . . . 8 4.6.1. HCT Centre for Entrepreneurship . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 4.7. Entrepreneurship Funding / Venture Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 4.8. Incubators and Accelerators . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 4.9 Incentives and Rewards. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85. Strategic Objectives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 5.1 ObjectiveProfiles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 5.2. Performance Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 5.3. Projects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 156. Value Proposition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 6.1. BeneficiaryProfiles,RequirementsandKeyServicesProvided . . . . 167. Strategic Roadmap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 7.1 Milestones . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 7.3. Strategic Priorities (over the next 12 months). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 215. Glossary 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

ENTREPRENEURSHIPFocal Strategy 2017 - 2021


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� Infuse an entrepreneurial culture in our students, since the beginning of their studies, to create a future generation of entrepreneurs, irrespective of their future career path. Even if they will never launch an entrepreneurial venture, they will besolid and resilient professional in any future endeavor;

� Pogressively shape standard curriculum (core and electives) around entrepreneurial themes across all academic divisions;

� Generate technology and solutions to real problems that may be further developed into early-stage innovation and technology-based companies, eventuallyin cooperation with industrial partners,other research institution and public sector entities;

� Support, through coaching and funding, the development of entrepreneurial ventures to enable a more effective transfer of technology and business ideas from the lab and the classroom;

� Support innovative startups in the UAE and abroad that create value for the country and want to partner with HCT in terms of research and development, co-development of IP and creation of careers for HCT graduates;

� Pro-actively strive to launch spin-outs in partnership with primary local and international industry partners leveraging jointly performed applied research and any other form of cooperation;

� Encourage startups to entertain business relationships with industry partners and attract third party investors to HCT startups.

HCT’s Entrepreneurship Strategy will have a positive impact on the UAE economy, on thestructureofitsjobmarket,andontheacquisitionof fundamental skills by our students:

� Contribution to the UAE’s GDP � Shift of employment to from government

and large corporates to startups and SMEs � Contribution to economic diversification,innovation, sustainability and globalcompetitiveness

� Enrichment of professional skills

Aims & Aspirations

In alignment with the HCT Vision Statement - ‘The Higher Colleges of Technology is the leading applied Higher Education Institution in empowering generations to contribute to the shaping of the future of the UAE.’, “HCT fosters an entrepreneurial culture inour students, faculty and staff, contributing to the creation of future generation ofentrepreneurs,andprovideshands-onsupporttostartupswhichtransfertothesocietybusiness ideas and research leveraging the partnerships with investors and industry partners”. Inparticular,HCT intends to:


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2.1. National Innovation Strategy � Innovation Regulatory Framework:

protection of Intellectual Property Rights throughtheestablishmentofefficientandeffective patent registration procedures

� Investment and Incentives: the generation of innovative ideas and turning them into new products and services supported by new innovative funding options that meet the needs of both individuals and graduate companies

� Innovative Individuals: developing students and learners into entrepreneurs who exemplify a spirit of innovation and collaboration with global peer academic institutions in applied research

� Innovative Companies and Institutions: work with national companies in developing,promotingandcommercializingtheir innovations with emphasis on Research & Development in the UAE using best-in-class research centers and adopting cutting-edge technologies

2.2 UAE Vision 2021 � Harness the full potential of the national

human capital: All Emiratis to make a valuable contribution to the nation’s growth by building their knowledge and applying their talent with innovation and drive – HCT will graduate entrepreneurs that will establish businesses with innovative products and services in contribution to the nation’s economic growth

� Sustainableanddiversifiedeconomy:sustained drive toward economic diversificationbyexpandingintonew strategic sectors – HCT graduate entrepreneurs will establish businesses in a variety of sectors driven by industry needs

� Knowledge-based and highly productive economy: economic growth driven by knowledge and innovation – HCT will graduate entrepreneurs will establish businesses with innovative products and services for the knowledge economy

� First rate education: a progressive national curriculum that encompasses critical thinking and practical abilities – HCT will graduate entrepreneurs will establish businesses using their knowledge acquiredontheireducationalprogramsatHCT,aswellasexperiencegainedworkingwith industry partners

2.3 The Abu Dhabi Economic Vision 2030

� Providing a data-driven infrastructure: to increase productivity

2.4 Dubai 50-year Charter � Article Six: Free Economic and Creative

Zones in Universities: the setup of public andprivateuniversitiesasfreezonesthatallow students to carry out business and creativeactivities,makingtheseactivitiespart of the education and graduation system, and shaping integrated economicandcreativezonesaroundtheuniversities

2.5 The National Agenda � Competitive Knowledge Economy:

Transition the UAE to a knowledge-based economy,promotinginnovationandresearchanddevelopment,strengtheningtheregulatoryframeworkforkeysectors,and encouraging high value-adding sectors. These will improve the country’s business environment and increase its attractiveness to foreign investment.

This focal strategy has been aligned to a number of UAE national strategies and federal laws in the following key areas:

Alignment to National Strategies


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3.1. Key Challenges There are a number of areas that, as an

entrepreneurial Higher Education Institute (HEI),HCT isneedingtoaddress inorder toachieve its aims and objectives:

� Development of an entrepreneurial mindset instudents,facultyandstaff

� Theneedtobequickerandmoreflexibleinreacting to demands from industry

� The establishment of mechanisms by which we can better understand external socio-economic dynamics and trends

� Increased focus on self-generated income � The stimulation of academic divisions to

embrace change in efforts to becoming more entrepreneurial in their approach to teaching and research

� The establishment of an integrated entrepreneurial culture that forms the basis of HCT’s institutional identity

� Increased understanding and appreciation of institutional risks and opportunities related to Entrepreneurship

� The re-allocation of resources to support the establishment of Entrepreneurship

� The practical steps necessary to ensure seamlessconvergenceofteaching,research,industry collaboration and entrepreneurial activity

� The protection of Intellectual Property Rights and hence the involvement of the institution in developments and commercialization ofapplied research projects

� Thechangingofinternalregulations,rewards,incentives and governance necessary to remove any internal barriers to applied research, innovation and entrepreneurship

� The need to consider hybridization – theestablishment of hybrid organizationaland governance structures that oversee interactions with industry, other HEIs, andcertain government units

3.2. Future Foresight Universities and HEIs, in their efforts to

be more engaged with their social and economic environments, need to be moreentrepreneurial in order to contribute the social and economic developments. This means conducting many of their existing activities differently, and establishing newones, for example :

� Teaching: better integration between teaching and research to improve the alignment between learning and practice

� Professional Courses: courses outside of the traditional academic programs should be offered to better align the needs of industry with learning and development opportunities

� Entrepreneurship Education: the development of entrepreneurial skills and competencies

� Knowledge Commercialization: capitalizingonthought leadershipthroughthecreation,articulation and dissemination of uniqueknowledge relating to innovations developed through research and which lead to the development of associated products and services that will benefit society

Overview

Entrepreneurship is a critical development for HCT on the following bases � The need to contribute to regional socioeconomic development through the generation and

exploitation of knowledge as entrepreneurial opportunities � Recognizingthatknowledgeisacommoditywhichcanbeusedtodevelopproductsandservicesto

meet social and economic demands


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thecommercializationofresearchresultsareotherways in which faculty and staff could be rewarded.

� Patenting and Licensing: the protection of intellectual property rights for new creations and transference of knowledge and technology to new (internally created) or existing (external) companies becomes a necessity

3.2.1. Trends Inmostindustrializedcountriesandemergingeconomies, the creation of enterprise andentrepreneurship has taken on a central role in economic policy where there is now renewed interest ineconomic,businessandorganizational research in the area. Theimportance of the phenomenon is mainly duetothebeneficialeffectsithasonsocio-economic development. It contributes, asfollows :

� to the expansion of the production base and the consequent reduction of theunemployment rate

� to the industrialization of economicallyunderdeveloped areas

� to the regeneration of industrial sectors or areasintermsofmanpower,productionandorganizational methods

� to the sector by sector ramification anddiversificationoftheindustrialstructureofagiven country

� The entrepreneurial university plays a pro-active role in enhancing the capacity of its surrounding region for economic and social development, building upon its teaching,research and service missions. The university evolves from a traditional to an innovative academic mode as its organizationalcapacities expand. Research shifts from a relationship between individual teachers and students to a web of relationships among research group members .


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4.1. Leadership and Governance Entrepreneurship at HCT has evolved from a single

strategic objective on the HCT 2.0 strategic plan to a whole strategy in its own right (as definedby this document) as part of the HCT 4.0 strategic plan. This evolution has been largely due to the heightened emphasis on Entrepreneurship, as acontributor to the social and economic development of the country, by thegovernmentand theDubai50-Year Charter. His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President andPrime Minister of the UAE and ruler of Dubai visited HCT in February 2019 and one of his mandates was thatHCTshould setasideAED100m,overafiveyearperiod,tofundtheestablishmentofstartupsby HCT graduates.

The priorities for the Entrepreneurship strategy are as follows:

� Helping students develop entrepreneurial competences and skills

� Promoting self-employment and business startup as a viable career option for students

� Industry collaboration on Entrepreneurship opportunit ies

� Playing a leading role in the UAE Entrepreneurship ecosystem

� Supporting startups by students � Supporting startups by staff � Commercializingresearchresults

4.2 Entrepreneurship Education at HCT Entrepreneurial education is, in most cases, an

interdisciplinary activity involving collaboration between and across specialized disciplines. AtHCT,Entrepreneurshiphasnowbeen incorporatedas a course in every academic program. This courseemanatedfromtheBusinessprogram,wasdeveloped with input from industry and other external stakeholders, and has been adaptedand transferred into all the other programs. On an ongoing basis, further reviews of theEntrepreneurship course will rely more heavily on input from entrepreneurs, industry bodies andincubators.Furthermore,theintegrationofresearchresults into the teaching of the Entrepreneurship course would further enhance student learning.

4.2.1 Innovation in Teaching and Learning Inachangingeconomy,individualsarenow,morethanever,requiredtobecomeentrepreneurialandto create value for themselves and for others. The questionishowtopreparestudentsforthis.Twokey directions being taken by HEIs are introducing problem-based learning and interdisciplinary research and education. Both are associated with a transition from a teacher-centric approach to student-led learning.

Problem-based and interdisciplinary learning approaches facilitate metacognitive skill development, by emphasising the importance ofcriticalthinking,flexibility,innovativenessandsoftskills (such as giving and receiving feedback, orcommunication and presentation skills)4. Problem-based Learning (PBL) is valuable in interdisciplinary teams that require interactive group work andhelp students to experience collaboration and co-creation in academic research. Its key learning principles are:

� Constructive Learning: creating meaning and building personal interpretations where students actively construct and re-construct their knowledge based on individual experiences and interactions

� Self-Directed Learning: Learners play an active role inplanning,monitoringandevaluatingthelearningprocesses

4.2.2 Interdisciplinarity Interdisciplinarity – focusing on strategic interdisciplinary themes, instead of discipline-focusedareas,isausefulwaytoencourageresearchprojects to be viewed from the perspectives of different academic disciplines in order to realise new value and connections for further discovery. It also enables involvement in entrepreneurial ventures of academic disciplines that otherwise would not have been considered as such. This is an important approach to conducting research effectively at HCT.

Interdisciplinarity does not only refer to multiple academic disciplines. It also refers to a multi-stakeholder partnership approach to creating value through research and entrepreneurship. These stakeholders could be other HEIs or businesses which HCT will be partnering with in entrepreneurial ventures.

Core Focus Areas


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4.3. Creating Entrepreneurs at HCT4.3.1. Supporting student Entrepreneurship Developing an entrepreneurial mindset is one of

the key challenges in establishing Entrepreneurship here at HCT. The Entrepreneurship course seeks to expose students to real-world experiences and further efforts are needed to ensure that student work placement and other student-centered learning activities strongly emphasize Entrepreneurship.Currently, student work placements are twoblocksof8weeksperacademicyearbut,withthenew professional track programs, students willbe able to temporarily exit their programs at the higher diploma stage to work for up to 5 years before returning to complete their studies, shouldthey wish to do so. This period of work is also an opportunity for entrepreneurially-minded students to set up and launch their startup businesses.

� It is acknowledged that launching a startup will not be a priority for the average student. It is not easy for students tomanage the requirements ofa full-time study program and pursue a “startupdream” at the same time. Therefore, a number ofdifferenttypesofinterventions,inadditiontothosedirectlyrelatedtotheiracademicprograms,willbenecessary to coax, cajole andencourage studentsto consider Entrepreneurship as a career option. These interventions include:

� Increased communication to students � Increase the allocation of program credits to the

Entrepreneurship course � Enabling Capstone projects to focus exclusively on

entrepreneurial ventures � Competitions,hackathonswithattractiveprizes � Invitations from well known entrepreneurs as guest

speakers � Feedback on the experience of successful startups

4.3.2. Supporting faculty in Entrepreneurship A key factor in encouraging faculty (and staff) in Entrepreneurship at HCT is to include it as a criteria in the hiring process. In other words, any priorentrepreneurial activities and outcomes will be takenintoaccount,evenifitwasjustthementoringof students in Entrepreneurship, or industryexperience in the private sector. This last point is currentlybeingheavilyemphasizedinnewfacultyrecruitment efforts, particularly with respect tointernational experience.

Also, the support of innovation in teaching andlearning, for example through the use of digitalteaching and assessment methods, coupled withthe structured funding of research projects are some of the ways that HCT is supporting faculty on the path to Entrepreneurship.

Similarly, training in Entrepreneurship supportfor those involved in educational activities is a high priority. Through this training, connectionwith those involved in research that may lead to

Entrepreneurship opportunities within the construct of an Entrepreneurial pedagogy, i.e. cooperative,experiential and reflective learning, is deemedimportant.

The adoption of policies that enable faculty and stafftocommerciallybenefitfromresearchresults,e.g. in the form of shares in the resulting startup venture is another way of further encouraging faculty and staff participation in Entrepreneurship.

4.4. Industry Collaboration Partnership, collaboration and active involvement

with industry bodies, Chambers of Commerce andprofessional organizations is a key criteria in thefurthering of Entrepreneurship by HCT. The result of such collaborations are expected to include:

� Industry problem-based research and learning � Establishment of a knowledge exchange network � Joint research opportunities � Involvement of external stakeholders in teaching � Secondments by faculty to industry partners

4.4.1. CERT (Centre of Excellence for Applied Research and Training) CERT is the closest that HCT has to a technology park where space is rented out to a number of technologycompanies,suchasIBM,toconductresearch. CERT also provides training to public andprivatesectororganizationsanddevelopstheir own technology/software solutions which theyhavelicensedtoorganizationssuchastheDepartment of transport. One of these solutions is the software on which Abu Dhabi taxis are run.

Although CERT is a standalone subsidiary ofHCT,theorganizationhasfacilitatedthemobilityofstaffand faculty from and to HCT on permanent and secondment bases.

4.4.2. Linking students with the local economy Work placements are the first opportunity thatstudents with no prior work experience have in experiencing the real world of work although from a very limited perspective. Students wanting to becomeentrepreneurs,therefore,willneedgreaterexposure to the dynamics of the business world from a much broader perspective and existing,successful entrepreneurs are best placed to provide this perspective. They give advice on how to improve businessoperations–financiallyandcommercially–and help to develop entrepreneurial skills. Another form of access to the local economy are government agencies, such as Chambers of Commerce, thatcan provide (i) access to databases of information on local companies that could be potential clients and (ii) training on entrepreneurship-relevant regulations.

4.4.3. Entrepreneurship in social and community development

An important area where HCT could leverage


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its presence, and enhance its brand, in almostevery emirate across the country is in social and community development. In addition to collaboration with industry, consideration shouldbe given to getting involved in local community development projects which would be another avenue for Entrepreneurship in what is otherwise known as ‘The Third Sector’ (see Glossary). Many of the activities undertaken in the Third Sector arisefromgovernmentsocialprograms.Therefore,involvement in social development projects should be seen as a way of contributing indirectly to these government programs, especially as manyindustry bodies also participate in these projects as part of their CSR (Corporate Social Responsibility) initiatives

4.5. The UAE Entrepreneurship ecosystem The UAE has one of the most welcoming business

environments in the world. And the government is constantly striving to make the country more welcoming to new businesses. There is an entrepreneurial ecosystem in the country,consisting of a growing number of co-working spaces, incubators,accelerators,trainingprograms,events, and networking opportunities for localandinternationalcompanies.Forexample,thereisHub71,aglobaltechnologyecosystemestablishedin April 2019 with AED 520m partnered by Microsoft and SoftBank with a purpose to establish a global interconnected network of companies, investors,HEIs, government, accelerators and entrepreneursto make a real social and economic impact.

4.6. Entrepreneurship Resources and Infrastructure

HCT has established three InnCuvation Spaces at theDubai,RasAlKhaimahandSharjahcampuses.The remaining campuses will each have their own InnCuvation Space by 2021. For innovation,these InnCuvation Spaces comprise computation,design and manufacturing tools and equipment.For incubation, they will provide technical andlogistic infrastructure to support research projects and entrepreneurship solutions whilst also being suitable spaces for training and development. They comprise 5 zones: fabrication and manufacture,media and design, programming and robotics,business and entrepreneurship and a general purpose computing zone. They enable integrationwith curricula and with industry.

4.6.1. HCT Centre for Entrepreneurship The establishment of an HCT Centre for Entrepreneurship would:

� be the platform for building relationships with other local and international Entrepreneurship Centres in the Ecosystem

� provide the basis for sharing and exchanging knowledge and best practices

� be the vehicle with which to promote Entrepreneurship and Entrepreneurship education

� facilitate coordination with industry partners and internal research efforts that would enable the transition from ideas to startup companies

4.7. Entrepreneurship Funding / Venture Capital AED 100 million has been set aside to fund EntrepreneurshipatHCToverthenextfiveyears,i.e. AED 20 million per year. This fund is to provide seed capital to startups established by students.

4.8. Incubators and Accelerators HCT considers incubation as a process and not an

investment and will offer a range of startup support measures through its collaboration with established Incubators and Accelerators, as follows:

� Financial resources � Assistance with the preparation of business plans � Accesstostartupnetworks,toeasethetransferof

complex business and technology knowledge � Access to the InnCuvation Spaces and other technologyinfrastructure,e.g.labs

� Mentoring by experienced Entrepreneurs � Mentoring by faculty and staff � Assistance with entry into competitions and

hackathons � Referraltobusinesssupportorganizations � Relationship-building with local and regional

business angels and investors � Relationship-building with local banks and

marketing companies WithreferencetotheDubai50-YearCharter,HCT’s

Dubai Men’s Campus (DBM) is now an established FreeZone thatenablesstudents, facultyandstaffto set up their businesses free of charge. DBM is also one of the three flagship campuses wherean InnCuvation Space has been built to provide research, incubation and technology facilitiesfor researchers and startups. To further enhance incubation support, HCT will join the UBI-Globalnetwork of incubators and accelerators and license incubation zones in all HCT campuses by 2020.

4.9. Incentives and Rewards Ensuring the engagement of faculty and staff

in value creation activities that may lead to entrepreneurialopportunitieswillrequireincentivesand rewards, particularly as this is not currentlyembedded in the institutional culture at HCT. This includes rewarding excellent performance in teaching and research linked to Entrepreneurship. Similarly,thementoringofnewentrepreneursand


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5.1. ObjectiveProfiles

InthecontextofHCT4.0,thestrategicobjectives,andgapanalysis,thatrelatetothisEntrepreneurship focal strategy are as follows:

Strategic Objectives

‘Broaden our contribution to the knowledge economy’

MILESTONE TO BE ACHIEVED CURRENT STATE DESIRED FUTURE

STATE ACTIVITIES TO ACHIEVE FUTURE STATE

Entrepreneurship Funding / Venture Capital

Inactive Full range of funding from pre-seed to venture

• (S) Enact the Entrepreneurship Fund Policy

• (S) Define the Entrepreneurship Fund Operating Framework & Procedural Guidelines, including:

§Pre-seed, seed and early-stage funding guidelines §Screening-to-investment process § Founders shareholding guidelines § Funded teams’ obligations and responsibilities §Portfolio monitoring and management §Board members’ and observers’ guidelines §Start-ups valuation guidelines §Pre-seed and seed funding agreements §Standard term sheet for early-stage funding §Business plan and financial forecasts templates

• (S) Establish the Entrepreneurship Fund governance (Investment Committee, etc.)

• (S) Establish ad-hoc Administrative, Financial and Procurement Procedures for the Entrepreneurship Fund

• (S) Establish ad-hoc special purpose vehicles for Entrepreneurship Fund investments

• (M) Explore co-investment partnership with governmental / private entities / funds / funding schemes

• (M/L) Explore the opportunity of launching a multi-university venture capital fund

• (M/L) Explore the opportunity of launching a larger venture capital fund open to third-party investors and regulated by the financial authorities (DIFC, ADGM)

• (M) Ensure synergies with Applied Research funding in terms of POC/prototype funding


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‘Nurture student innovation and entrepreneurship’



Operational InnCuVation Spaces

Limited activity, focus on hardware

Driven by curriculum

Lack of co-working space, lab space, office space

Full licensing capabilities

Space suited for startups of a different nature

Full accelerator programs in place

Connection with the industry

High local and international visibility

Desired landing spot for local and international startups

• (S) Pilot the launch of two accelerator programs in the Dubai InnCuVation Spaces (bootcamp and full-fledged standard format)

• Identify and finalize procurement of potential providers of the accelerator program

• Identify synergies with other initiatives providing “deal flow”, such as Ibtikar, Leqa, Capstone projects, Applied Research projects, etc.

• (S/M) Create an HCT Accelerators’ team of trainers

• Investigate IPO potential during/post incubator period as an extended objective/bonus.

• (M/L) Revisit the design of InnCuvation Spaces according to the needs of the actual startup population that will emerge

• (S/M) Roll out accelerator programs in the Sharjah and RAK InnCuVation Spaces

• (M/L) Roll out accelerator programs in the remaining InnCuVation Spaces



Incubation Output / Emerging Startups

No formal startups launched (many non-inventoried startups in the system?)

Sustained deal flow (see quantitative targets above)

Sector agnostic

• (S) Leverage the internal “deal flow” of student-lead startups

• (S/M) Scout proactively Emirati and international startups in the 7 sectors on the National Innovation Strategy (Renewables, Transportation, Education, Health, Water, Technology, Space) employing HCT’s students and/or involved in research activities in partnership with HCT and/or using HCT’s Intellectual Property

• (S/M) Identify, in cooperation with HCT industry partners, opportunities for the co-development of early-stage innovation and technology-based companies

• (M) Through the Venture Builder program, proactively launch companies leveraging HCT-developed technologies and employing HCT students

Patents & Intellectual Property

No / very limited activity

No policies and operational frameworks in place

Sustained activity of patent applications and IP licensing / assignment to industry and startups

• (S) Harvest and inventory existing HCT Intellectual Property

• (S) Provide short-term solution to startups needing IP protection (in cooperation with existing agencies and government bodies, i.e. Takamul)

• (S/M) Establish an Intellectual Property strategy and policy

• (S/M) Define an organic framework of IP guidelines and procedures

• (S/M) Establish IP standard legal templates (i.e. license / assignment agreements, etc.)

• (M) Create a full-fledged Tech Transfer & Patent Office

Job Creation Job created outside startups and companies created outside the system

Sustained job creation in highly-skilled positions

See above.


11



Operational InnCuVation Spaces(Cont.)

• (M) Host external accelerator programs, if appropriate, run by HCT personnel

• (M) Launch industry-specific accelerator modules in partnership with industry partners (oil & gas, hospitality, transportation, IoT/telco, AI, fintech, etc.)

• (S/M) Launch a Venture Builder program

• (M) Leverage the service offering of government bodies (such as DFF, Dubai SME, DED, Ma’an, etc.) for:

§On-shore and off-shore licensing §Access to government funding §Access to public sector vendor list, etc

• (S/M) Join the UBI-Global network of incubators and accelerators

• (M) Steer the Inncuvation spaces to specific industrial themes coherent with the local industrial fabric (industrial partners)




Sector agnostic





Innovation & Entrepreneurship Awards

Many activities, not centrally coordinated.

Some not sustained over the time.

Awards to ideas, not startups, and often these ideas hit immediately the “valley of death”

Structured mentoring before the award

Internal platform(s) to propel our startups and provide visibility

• (M) Support HCT startups to compete on selected local and international platforms / events

• (M) Partner with existing event organizations and co-host events at HCT (Arabnet, Slush, MIT Enterprise Forum Pan Arab, Seedstars, Sharjah Entrepreneurship Festival, AIM Startup, GITEX Future Stars, RiseUP, Step, etc.)

• (M/L) Organize HCT event involving local and international startups, investors and industry

Multi-disciplinary Teams

Lots of entities involved without vision and roadmap

Creation of real multi-disciplinary themes

• (S/M) Establish an Equity Ownership policy for faculty and staff to encourage their participations to startup initiatives

• (S/M) Leveraging Adjunct Faculty members establish cross-divisional teams focused on key innovation themes (fintech, AI, blockchain, IoT, AR/VR, etc)

• (S/M) Reach out local / regional / international industry partners to identify innovation projects involving faculty and students (for example, 7 projects proposed by SEWA)

• (S/M) Identify and implement roadmap to convert stand-alone projects into sustainable companies involving industry, government and other external partners

• (M) Create entrepreneurship-related Special Interest Groups, Clubs and Bulletin Boards (generic and by sector)


12




Limited activity, focus on building hw, driven by curriculum, lack of co-working space, lab space, office space

Full licensing requirements

Space of different nature for resident startups

Full accelerator programs


Visibility (local and international)



§ Identify and finalize procurement of potential providers of the accelerator program § Identify synergies with other initiatives providing “deal flow”, such as Ibtikar, Leqa, Capstone projects, Applied Research projects, etc.














13

‘Nurture student innovation and entrepreneurship’




Limited activity, focus on hardware

Driven by curriculum

Lack of co-working space, lab space, office space

Full licensing capabilities

Space suited for startups of a different nature

Full accelerator programs in place


High local and international visibility



















Sector agnostic






14



Innovation & Entrepreneurship Awards

Many activities, not centrally coordinated.

Some not sustained over the time.

Awards to ideas, not startups, and often these ideas hit immediately the “valley of death”

Structured mentoring before the award

Internal platform(s) to propel our startups and provide visibility

• (M) Support HCT startups to compete on selected local and international platforms / events

• (M) Partner with existing event organizations and co-host events at HCT (Arabnet, Slush, MIT Enterprise Forum Pan Arab, Seedstars, Sharjah Entrepreneurship Festival, AIM Startup, GITEX Future Stars, RiseUP, Step, etc.)

• (M/L) Organize HCT event involving local and international startups, investors and industry

Multi-disciplinary Teams

Lots of entities involved without vision and roadmap

Creation of real multi-disciplinary themes

• (S/M) Establish an Equity Ownership policy for faculty and staff to encourage their participations to startup initiatives

• (S/M) Leveraging Adjunct Faculty members establish cross-divisional teams focused on key innovation themes (fintech, AI, blockchain, IoT, AR/VR, etc)

• (S/M) Reach out local / regional / international industry partners to identify innovation projects involving faculty and students (for example, 7 projects proposed by SEWA)

• (S/M) Identify and implement roadmap to convert stand-alone projects into sustainable companies involving industry, government and other external partners

• (M) Create entrepreneurship-related Special Interest Groups, Clubs and Bulletin Boards (generic and by sector)


Limited activity, focus on building hw, driven by curriculum, lack of co-working space, lab space, office space

Full licensing requirements

Space of different nature for resident startups

Full accelerator programs


Visibility (local and international)

















15

5.2. Performance Management

Thissectionprovidesa twoyear trendsummaryof theKPIs, forwhichdataexists,whichmeasure theobjectives profiled in section 5.1 above.OBJECTIVE KPI 2016-2017 2017-18 2018-19 2021

Actual Target Actual Target Actual Target Target

Broaden our contribution to the knowledge economy

Graduate Entrepreneurs 0.8% 1% 0.46% 2% NYD 3% 5%

Cumulative Registered Patents

NA NA 0 2 0 3 5

Startups Emerged NI

Nurture Student Innovation and Entrepreneurship

Student Innovation Awards NA NA 38 3 22 40 50

Student Entrepreneurship Awards

NI

Student Ideation to Incuba-tion

NI

Develop a student-centered entrepreneurship learning community

Student participation in Entrepreneurial Activities

NI

Utilization of Incubation Zones

NI

Utilization of Entrepreneur-ship Seed Fund

NI

*NYD=NotYetDue;NA=NotAvailable;NI=NewKPI,nodatayet;

5.3. Projects

This section highlights the initiatives being managed for each objective relating to this focal strategy.

OBJECTIVE STRATEGIC PROJECT START END PROGRESS PERFORMANCE

Broaden our contribution to the knowledge economy

None

Nurture Student Innovation and Entrepreneurship

Student Innovation Awards and Competitions

04/2019 01/2020 6% On Track

Develop a student-centered entrepreneurship learning community

InnCuVation Spaces 06/2017 12/2019 68% On Track


16

ThissectiondetailsthevaluetobedeliveredtobeneficiariesofthisEntrepreneurshipstrategy.Thebeneficiariesareidentified,withtheirrequirements,alongwithkeyservicesbeing offered to them and the resultant core value proposition.

6.1BeneficiaryProfiles,RequirementsandKeyServicesProvided

Value Proposition

Beneficiary Profile(the unique characteristics that defines a beneficiary of this strategy)

Beneficiary Requirements (beneficiary aims)

Beneficiary Benefits(outcomes and benefits sought by beneficiaries from this strategy)

Beneficiary Challenges (challenges which this strategy would help alleviate)

Services Provided (services provided by HCT through this strategy)

Value Created (value delivered to beneficiary)

Student (and Alumni) Entrepreneur

• Professional achievement

• Financial autonomy and rewards

• Independence and flexibility

• Access to services designed to serve own needs

• Launching a business without negative repercussions on studies

• (for Alumni) easy access to campus facilities (evening, weekends)

• Cheap/discounted / pro-bono services

• Networking with industry

• Funding

• Coaching/mentoring

• Strategic partnering

• Media exposure

• Protection from risk

• Conflict of commitment with studies

• Red tape/bureaucracy

• Lack of funding

• Lack of mentoring

• Lack of team members

• Cultural / family issues

• Better options available when graduated

• Lack of confidence

• Lack of a platform to discuss ideas

• Lack of connections with industry

• Unclear / not visible success stories

• Risk aversion

• Unclear path to entrepreneurship

• Accelerator• Pre-Seed and Seed

Funding• Venture funding• InnCuVation Spaces• Entrepreneurially-

oriented programs and curricula

• Cheap/discounted / pro-bono services

• Networking with industry

• Funding

• Coaching/mentoring

• Strategic partnering

• Media exposure

• Protection from risk


17







Staff and faculty entrepreneur

• Transitioning science into businesses (professional immaterial reward)

• Long-term residency in the UAE through academic entrepreneurship (long term visas for innovators / entrepreneurs)

• Leverage own research efforts

• Attract industry’s interest to own research work

• Enlarging scope of research to new topics (applied research, industry orientation)

• Do something meaningful for the society or for business

• Transition from education, to research, invention, business

• Conflict of Interest, Conflict of Commitment with “day job”

• Incompatibility with current employment contracts

• Lack of incentives / rewarding system

• Perceived university cultural resistance on equity / IP ownership

• Lack of skills

• Unclear transition to entrepreneurship visa sponsorship

• Adaptation of faculty workload to take into account entrepreneurial ventures

• Not available sabbatical option


Funding• Venture funding• InnCuVation Spaces

• Leverage own research efforts

• Attract industry’s interest to own research work

• Enlarging scope of research to new topics (applied research, industry orientation)

• Do something meaningful for the society or for business

• Transition from education, to research, invention, business

Investors community

• Access to deal flow of high-quality startups in which to invest

• Reduced risk profile (for HCT involvement, coaching, funding, gov. contracts)

• Tapping into UAE / GCC local market (safe and structured business environment, legal jurisdiction, no compulsory involvement of local partners)

• Abundance of resources (academics, students, funding, connections, etc.)

• Pre-vetting of tech startups

• Access to tech expertise

• No track record• No visibility• Too early stage• VC do not like

university startups• Not aligned

agenda (economic development vs financial returns)

• IP policy• Venture ownership

structure (slow decision-making process)

• Not alignment on exit route



• Abundance of resources (academics, students, funding, connections, etc.)

• Pre-vetting of tech startups

• Access to tech expertise


18







Industry partners

• Access to cutting edge innovation and technology

• Outsource R&D and innovation

• Offload non-core research and partner to further develop as a spin out

• Acquire innovative products or services

• Access to further resources to support SME growth

• Contribution to the community and national agenda

• Implement CSR activities

• As corporates typically kill innovation, they systematically look for separation from the core business

• Hire entrepreneurially minded graduates

• Use top-notch facility to test or prototype products or services

• Access potential acquisition opportunities

• Confidentiality / non-disclosure of company IP / trade secrets

• Fear of commitment and under-delivery with government entity

• Risk of outsourcing core activities

• Perceived lack of ability to deliver in short timeframe

• Perceived lack of KPIs / weak management

• Aversion for non-profit organizations (economic development vs. real business)

• Accelerator

• Pre-Seed and Seed Funding

• Venture funding

• InnCuVation Spaces

• Hire entrepreneurially minded graduates

• Use top-notch facility to test or prototype products or services

• Access potential acquisition opportunities

Partner universities (including GAEN member)

• Co-investment in startups

• Co-development of startups

• Run together industry-specific accelerator programs

• Expose own startups to UAE business environment

• Cross internship programs for startups

• Co-promotion of success stories across the network

• Different agendas (IP generation, ecosystem development) and different models

• Differences in culture, industry focus, student body

• Different IP and startup ownership policies

• Maturity of entrepreneurship programs

• Need to associate with best in class (not with peers)

• Mismatch in the organization structure, approval processes etc.

• Management of disputes (legal jurisdiction)



• Cross internship programs for startups

• Co-promotion of success stories across the network







Government• Generation of

innovation, high-qualified employment, patents

• Transition of employment from government to SME-driven private sector

• Diversification of the economy

• Creation of industry clusters

• Reduction of unemployment

• Increase of STEM graduates in the workforce

• Growth of the GDP• Increase of female

employment (avoid transportation to other Emirates, living alone, etc.)

• Improvement of scores such as the Global Innovation Index

• Allow HCT to deviate from standard government practices (more suitable to entrepreneurship programs)

• Unreasonable / unrealistic push for short-term results

• Adapt policies to entrepreneurial ecosystem

• Proliferation of entrepreneurship programs that may be conflicting one with each other



• Growth of the GDP

• Increase of female employment (avoid transportation to other Emirates, living alone, etc.)

• Improvement of scores such as the Global Innovation Index

Traditional HCT structure and activities

• Contribute to achieve the national agenda and objectives

• Increase and redefine employability, especially in the private sector

• Reduce unemployment of graduates

• Revamp the image of an institution perceived as traditional and old-fashioned

• Lack of maturity in the entrepreneurial space

• Lack of processes, procedures, mentality, culture, to deal with entrepreneurship



• Revamp the image of an institution perceived as traditional and old-fashioned


20

Strategic Roadmap

7.1 Milestones

Withregardtothemilestonestobeachievedforthisstrategy,aspresentedinsection5.1above,theyareherebypresentedasaroadmapoverthenextfiveyears:

Develop student-centered entrepreneurship

learning community

Broaden ourcontribution to the knowledge

economy

Nurture student innovation and

entrepreneurship

Entrepreneurship Roadmap

HCT 4.0 StrategicObjectives 2019 2020 2021 2022 2023

Establish entrepreneurship funding / venture capital

Establish entrepreneurship funding / venture capital

Integration of Entrepreneurship in programs and curricula

Commissioning of InnCuVation Spaces

Establish full operation of InnCuVation Spaces

Formation of Licensed Startups

Registration of Patents and protection of Intellectual Property

Job Creation

Full Operation of InnCuVation Centers

Formation of Licensed Startups

Winning Innovation and Entrepreneurship Awards

Connect with Local Accelerators


21

Embed intelligent and

innovative teaching and

learning methods

Leverage technology to

enable institutional growth and

development

Develop and enhance

organizational learning

Education Technology Roadmap Milestones

HCT 4.0 StrategicObjectives 2019 2020 2021 2022 2023

Active stations

Blackboard Center of Excellence

Digital Campus

Skill & Competency based Education

Digital Credentials

Building a Virtual Lab Environment

Attain NESA Certification

Business Automation

Paperless

Mobile Enabled

Digital Campus Platform

Communities of Practice

Know ledge Management

7.2 Strategic Priorities (over the next 12 months)

Combiningsections7.1and7.2above,thestrategicprioritiesforthisfocalstrategyoverthenexttwelvemonthsshouldfocusonthehighlightedmilestonesbelow,duetotheirstrategicimportanceandthefactthattheyhavealreadycommenced,andthedevelopment of the necessary capabilities to progress or achieve them:

TERM DEFINITION

Academic Entrepreneurship Creation of new business ventures by someone related to a university

includingthecommercializationofknowledgeproducedwithinuniversities,andotheractivitiessuchascustom-madeeducationalcourses,consultancy,training, and extension activities which bring rewards for the individualacademic or his/ her institution. - Research policy (The nature of academic entrepreneurship in the UK: Widening the focus on entrepreneurial activities), Abreu, M., & Grinevich, V. (2013).

Sustainable Entrepreneurship Thecreationofviable,profitable,andscalablefirms.Suchfirmsengenderthe

formation of self-replicating and mutually enhancing innovation networks and knowledge clusters (innovation ecosystems), leading toward robustcompetitiveness - Carayannis, International Journal of Innovation and Regional Development 1( 3), 235– 254, 2009).

Third Sector ‘Also known as the voluntary sector or civic sector is the duty of social activity undertaken by organizations that are non-governmental nonprofitorganizations, e.g. charities. This sector is also called the third sector,communitysector,andnonprofitsector, incontrasttothepublicsectorandthe private sector - Wikipedia

Valorization of Knowledge Process of creating value from knowledge by making it suitable and/or

available for economic and/or societal use by translating knowledge into useful products, services, processes and entrepreneurial activity.- Supporting Entrepreneurship and Innovation in Higher Education in The Netherlands (OECD)

5 Glossary

22


Documents

Entrepreneurship - Higher Colleges of Technology · The changing of internal regulations, rewards, incentives and governance necessary to remove any internal barriers to applied research,