On September 4–5, 2026, the inaugural cohort of 11 HKUST ETA Fellowship participants completed two days of intensive training. They bring experience in strategy, investment, finance, operations, entrepreneurship and family businesses. The program has moved from its introductory information session into work with its first cohort.
The HKUST ETA Fellowship is jointly offered by the HKUST Entrepreneurship Center and the HKUST MBA Program, with Search Panda as a strategic partner. It supports aspiring entrepreneurs who seek to acquire established small and medium-sized businesses and take responsibility for their ownership and operation. Entrepreneurship through acquisition (ETA) offers a path to entrepreneurship through acquiring an existing business, becoming its owner and primary operator, and building value through long-term management. A search fund is one established model within ETA.
The two-day training addressed the judgments and preparation involved in pursuing this path. Discussions covered personal fit, the responsibilities of a future owner-operator and possible routes into ETA; search direction, market validation, interviews and the assessment of evidence; the fit of capital partners, the local ETA ecosystem, and legal, financing and tax considerations. Participants also discussed how to communicate their plans clearly and identify their next steps.
The HKUST Entrepreneurship Center and HKUST MBA jointly organized the training. Search Panda contributed to its design and delivery as a strategic partner. HKUST faculty, investors and industry practitioners brought different perspectives, while participants brought their own experience and questions to the discussion. After the training, Search Panda will continue to support fellows as they refine their plans through mentoring, market validation, peer learning and industry connections.
For the program’s positioning, cohort progress and continued support, see the HKUST ETA Fellowship program page. The HKUST official program page has application details, and the information session recap covers the program’s launch.
