Welcome! My name is Dominic Chan. I'm a professor at The Chinese University of Hong Kong. I will be your instructor for the Entrepreneurship course. In Module one, we will cover the basic of what is entrepreneurship. So, what is entrepreneurship? Let's take a look of some of the textbook definition. Well, someone would say an entrepreneur is someone who undertakes innovation, finance, and business acumen in an effort to transform innovation into economic goods. That's a very good definition. Let's look at another one. An entrepreneur is also someone who launch a new venture or enterprise and accept the full responsibility for the outcome. I stress the word here ‘full responsibility’. Well, in other words, it is someone who is willing to take risk, to create a business that will generate a lot of economic goods. Now, in Asia in particular, failure is not an option. Well, for most people, anyway. But if we look at Silicon Valley, which is a very successful place which generate lots of entrepreneurs, or if we look at, like, Israel - Tel Aviv, people often would say, ‘You know, you have to fail quickly, frequently in order to succeed early.’ Now this is actually very very different in Asia. Because in Asia usually failure is also very very unforgiving. People will hate mention these on their CV. People don't like to be a failure. Now, however, for entrepreneur who is taking risk, right? This is not an... this is not a problem. Because there's no one, you can’t actually successful without failure. So this is something that in Asia we are still trying to change the mentality. And someone else would say, ‘You know, how to be entrepreneur? We need to pursue opportunity with no regard in resources in hand.’ What does that mean? Well, it means, you know, when you start a business, you cannot possibly have all the resources ready. No one ever have resources ready when they start a company. But a true entrepreneur could manage whatever resource they have. They know what resource they lack. And then they will go and find that resource. That's the spirit of an entrepreneur. Now, if you look at people who want to be entrepreneur versus people who are working in a corporate. Well, this diagram really really actually tells the story. Some will say in a corporate, it is like a rat race. People go to work day in and day out. They get a very very steady job, a very steady career, but it is like a rat race where you’re just doing the same thing day in day out. As an entrepreneur, it's like pushing a rock up the hill. Yes, it is very very difficult and you may get crushed every day. However, if you can ever reach the top, the scenery on top is beautiful. So you pick your life, right? Whether you want to be someone in a corporate, work in the same job day in day out or take on the challenge to become an entrepreneur and try to push something very very hard; but the reward is very very good.