Personal Fit and Pathway Choice
Assess fit for ETA and readiness to take on the responsibilities of a future operator.
HKUST ETA Fellowship
Preparing to acquire and lead an established business
Jointly offered by the HKUST Entrepreneurship Center and HKUST MBA Program, with Search Panda as strategic partner, the Fellowship prepares aspiring entrepreneurs to acquire and operate established SMEs. The inaugural cohort of 11 fellows has completed intensive training and continues to develop its plans through mentoring, market validation and peer learning.
Application details, eligibility, and timing should be confirmed on the HKUST official page.
Inaugural Training · 4–5 September 2026
Preparing for acquisition and ownership
The 11 fellows bring experience across strategy, investment, finance, operations, entrepreneurship and family business. Co-hosted by the HKUST Entrepreneurship Center and HKUST MBA, the two-day training was shaped and delivered with Search Panda, with contributions from faculty, investors and practitioners across six areas of preparation.
Entrepreneurship through Acquisition (ETA) is a path in which an entrepreneur acquires an existing business, becomes its owner and operating leader, and builds value through long-term management. The search fund is one established model within ETA.
Search Mandate and Market Validation
Define the types of businesses to pursue and test the search direction against market realities.
Validation and Evidence
Use conversations to test assumptions and build an evidence base for decisions.
Capital Partners and the Local Ecosystem
Understand capital partner fit and the support available in the local ETA community.
Legal, Financing and Tax Considerations
Explore the legal, financing and tax questions involved in an acquisition.
Credible Narratives and Action Plans
Communicate a clear, credible acquisition plan and identify practical next steps.
Search Panda's contribution
International community experience and local practice
As strategic partner, Search Panda helped shape and deliver the inaugural training alongside the HKUST Entrepreneurship Center and HKUST MBA. Supporting future owner-operators is part of our wider work in entrepreneurship, business succession and long-term ownership in Asia.
Training design and delivery
Helped shape and deliver the intensive training with contributions from faculty, investors and practitioners.
Mentoring and industry connections
Continue supporting fellows as they validate markets, refine their plans and connect with industry experience.
Peer learning
Support fellows from different backgrounds in sharing experience, questions and learning from practice.
Timeline
Program progress
The intensive training is complete, and work with the inaugural cohort continues through mentoring, market validation, peer learning and industry connections as fellows refine their plans and take their next steps.
16 Apr 2026
Information Session
Introduced the ETA path and Fellowship structure.
15 Jun 2026
Inaugural Application Deadline
Applications for the inaugural cohort closed. Check HKUST for future application dates.
4–5 Sep 2026
Inaugural Intensive Training Completed
11 fellows completed two days of training on the preparation, judgment and action involved in ETA.
