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Hong Kong Startup Ecosystem ToolBox v.1

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1. Introduction to the Startup Ecosystem
2. Startups in Hong Kong
3. Community builders
4. Government support & Universities
5. Incubator and Accelerator Programs
6. Competitions, events
7. Talent's corner
8. Co-working spaces
9. Venture Capital
10. Resources
11. References

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Hong Kong Startup Ecosystem ToolBox v.1

  1. 1. 1. Introduction to the Startup Ecosystem 2. Startups in Hong Kong 3. Community builders 4. Government support & Universities 5. Incubator and Accelerator Programs 6. Competitions, events 7. Talent's corner 8. Co-working spaces 9. Venture Capital 10. Resources 11. References
  2. 2. W Hub is an online platform where Startups make meaningful connections to grow their business. W Hub's mission is supported by 3 main pillars: - Community discovery, - Jobs & Talent, - Investors Connection.
  3. 3. The following report aims at sharing insights into the startup ecosystem in Hong Kong. It is based on external information, our observations and opinions. It is not exhaustive and cannot be considered as such. We do not receive financial incentives from the organisations, startups, companies or individuals listed in this report. This report has been prepared in good faith and with no intention to promote or diminish certain organisations, startups, companies or individuals in particular. We see this report as a tool to raise awareness and help educate external observers about the who and what composing the startup ecosystem in Hong Kong. We offer our sincere apologies if we hurt anybody and will treat all enquiries sent to hello@whub.io.
  4. 4. 1. Introduction
  5. 5. 2.2 billion HKD GDP (2014) $310,113 HKD GDP / capita (2014) 2.8% GDP Annual Growth Rate (08/2015) 2.5% Annual Inflation (08/2015) 3.9 million Labour Force (2014) Since 1997 and the end of 155 years of British rule, Hong Kong has been trying to remain independent from China. Hong Kong is part of China, but a Special Administrative Region (S.A.R.), same as Macau. Both retain their own capitalist economies, while the rest of China uses the socialist system. Under this same principle, each of the three regions continues to have their own political system, currency, legal, economic and financial affairs, including external relations with foreign countries. One Country - Two Systems Hong Kong's gross domestic product has grown 180 times between 1961 and 1997. Furthermore, the GDP per capita rose by 87 times within the same time frame. Its economy size is slightly bigger than Israel and Ireland.
  6. 6. - As one of the world's leading international financial centres, Hong Kong's service-oriented economy is characterised by its low taxation, almost free port trade and well established international financial market, built on a long history of trade & commerce. - Hong Kong holds the first rank in the World as freest Economy. Starting a business is easy, so is doing business easy and safe. - Startups are defined by disruption and growth. Hong Kong is uniquely positioned to allow fast and high scalability: Its ultra-connected population allows to test quickly and the proximity to the Pearl River Delta (Manufacturing & Supply facilities) and half of the world's population provides impressive growth potential. - The Startup scene has been booming in the past 3 years, with an increasing number of co-working spaces, accelerators / incubators, startups, events, and entrepreneurship associations at local universities.
  7. 7. - 3rd "easiest place to do business" - 8th in the world for "easiness to start a business" (based on the no. of procedures, time, cost and minimum capital needed to start a business) - 4th in simplicity of paying taxes (only 3 payments/year are required in Hong Kong) - 7th in overall global competitiveness (based on macroeconomic environment, health & primary education, goods market efficiency, labour market efficiency, financial market development and innovation) - 1st for "freest economy" (based on 5 areas: Size of government in the economy, legal system and property rights, sound money, freedom to trade internationally and regulation. - 1st in protecting minority investors & on the extent of conflict of interest regulation index and shareholder governance index - 3rd least corrupted economy in Asia - 11th out of 97 economies in IP protection - 15th in patent application (13,916 patent applications) Easy & safe
  8. 8. Internet Speed . 240% mobile penetration rate . 1st smartphone penetration for Asia Mobile . 2nd internet speed 94.8Mb/s (2015) . 1st Network Readiness Index in Asia Social Network . 4.4 M users with a Facebook account - 54% population . 3.1M daily active users on Facebook . 1M LinkedIn members - 13.5% population Internet . 3.5 bln estimated e-commerce market size . $535 average annuel spend / user . 96% of HK's internet users browse it daily (average 30 min / day) . 17,000+ free wifi hotspots across the city Test quickly: an ultra-connected population
  9. 9. 5 hours flight time from half of the world's population. Close to Shenzen and the Pearl River Delta, the manufacturing hub of China and the world. Great Demand Great Supply Scale Big
  10. 10. Though still relatively young and small, Hong Kong ranks within the top 5 fastest growing startup ecosystems in the world based on 5 areas: Performance, funding, market reach, talent and startup experience. Exponentially growing ecosystem
  11. 11. Hong Kong's startup ecosystem is very diverse in multiple aspects: 1) Benefiting from its long history in international trade, as logistic hub and financial centre, startups are disrupting in a huge variety of industries and sectors. 2) In terms of gender diversity, it is 2nd in the world for the number of women entrepreneurs (45% of entrepreneurs are women) 3) In terms of origin of founders, half are Hong Kong locals, the other 50% being made up by overseas, Mainland China and returning founders. A very diverse ecosystem source W Hub 2016
  12. 12. Mehdi Ferradj, Kawa Augustin Ceyrac, Easyship Vincent de Saint Exupery, LCCS Tania Cheung, Miss Runner Anita Chan, Sam the Local "People in this city are clued into global trends; people are eager to hear and try new ideas. We have fantastic support structures in Hong Kong to facilitate a start up [...], there is always a channel available to get help from." "People are super active, fast and ambitious. It is also a comfortable legal and tax environment and fortunately a significant startup community is now growing actively." "Shipping out to international customers without the need to pay tax had been a huge cost saving advantage. Sourcing is also a benefit since majority of mills from China had their head office/showroom set up in Hong Kong." "Hong Kong is a very business ​focused city where everyone seems either involved in a startup or side​ business, or thinking about starting one! The proximity with Shenzhen is also key for sectors like IoT and eCommerce. " "1. Supportive startup community - 2. Diverse background - 3. Very open with sharing input - 4. Accessibility and number of events - 5. Helpful organisations". The Entrepreneurs' Voice
  13. 13. 2. Startups in Hong Kong Even though Hong Kong doesn’t have its unicorn yet, we firmly believe that the city is capable of nurturing successful startups. As shown before in this presentation, HK has a reliable infrastructure, an access to resources (R&D, talent, money), a proximity with large pools of customers and a strong desire for success among the new generation. While the number of exits, amount of money raised or startups growth rate cannot prove the success of an ecosystem alone, it's important to note that HK is a place where to expect, and look for, exciting (ad)ventures!
  14. 14. Divide is a dual-persona platform, which separates iOS and android devices into two personas for work and play. Divide, acquired by Google in May 2014 for US$ 120M. ZNAP is a global mobile business platform developed by Hong Kong-based company MPayMe. ZNAP has been acquired by Powa Technologies in June 2014 for US$ 75M. Lucibel designs, produces and distributes LED lighting solutions for commercial, industrial and residential applications. Lucibel strengthens its net equity by € 17 million and goes public on Alternext Paris on July 2014. Alive not dead is an online community dedicated to helping artists. Alive not Dead, acquired by mig33 in February 2014 Plukka is an international retailer of curated collections of designer fine jewelry. Went Public on Dec 3, 2015 / ASX:PKA Previously raised $1M in 1 Round of funding from Fresco Capital
  15. 15. iClick interactive is a leading integrated advertising technology company connecting worldwide advertisers with the audience in China. Its proprietary Programmatic Marketing Platform (“PMP”) is the first of its kind in China that truly integrates search, display, mobile and social media advertising. US$ 60M raised in Dec 2014 from offices around the world inc. Bertlesmann, Sunitomo, SSG Capital and OTTO. 6waves is a leading publisher of social and mobile games, partnering with developers all over the world to bring the best games to their users on a gaming network. Raised $52.59M in 2 Rounds from Insight Venture Partners and Nexon CompareAsiaGroup is Asia’s leading and fastest growing financial comparison platform. CompareAsiaGroup offers a comprehensive overview across various financial products, and is a one-stop solution for price comparison needs in Asia. Raised $46M in 3 Rounds from 7 Investors $40M in serie A on April 2015 fintech GAMES advertiSing Logistics GoGoVan is a delivery-van reservation and renting service. It allows customers to request a van and driver for short deliveries or transportation through a mobile app. Raised $26.54M in 4 Rounds from Centurion, Cyberport, Joe (Yi-Zhou) Chen, Renren Inc., Zhemin Hu
  16. 16. WeLab is creating seamless online and mobile lending experiences for the Asian market. The company operates www.WeLend.hk, the first online social (or peer-to-peer) lending platform in Hong Kong. $20M in 2 Rounds from 7 Investors including Access Industries, Iconiq Capital, Sequoia Capital, Shou Zi Chew Lalamove connects hundreds of thousands of customers with tens of thousands of professional van, motorcycle, lorry and truck drivers. Founded in 2013 as EasyVan in Hong Kong, lalamove is the leading last-minute intra-city delivery technology in Asia. $20M in 2 Rounds from appWorks Ventures, Crystal Stream Capital, Geek Founders, MindWorks Ventures Logistics fintech fintech fintech 8 Securities is a leading online & mobile investing service in Asia. They serve a large customer base with offices in Hong Kong and Tokyo. $17M in 2 Rounds from 6 investors including China Growth, Capital, Leitmotiv Private Equity InvestLab provides its customizable MIX trading platform through a software as a service​ model to retail brokerages. By using MIX, brokers can access any market around the world while trading any equity, option, or commodity available. $10M in 1 round from Citi Ventures and Vantage Point Capital Partners in 2012
  17. 17. Logistics mobile mobile Acquired Go'N'Live in 08-2015 $8.1M raised in 2 rounds from 7 investors Boxful is an on-demand storage service dedicated to convenient, affordable, and secure self-storage. Users manage their belongings from their mobile devices or computers. Exicon's AppBoard helps to Build, Manage and Promote mobile applications through a cloud-based platform. $8M Series A on August 15, 2015 HotelQuickly is a last-minute hotel booking app in Asia Pacific, currently covering 200+ destinations in 15 countries. $5.66M in 2 Rounds from Boon Hwee Koh, GREE, William E. Heinecke AMP Credit Technologies (“AMP”) enables banks and other business service providers to profitably offer equitable and transparent short- term unsecured loans to their under-served small business customers - in both developed and emerging markets. fintech $5M raised advertizing Automated data collection and geographic analysis for industry to quantify risks, make decisions and prevent disasters. $4M in 3 Rounds from Fresco Capital
  18. 18. real estate social media health tech Spacious is an online marketplace connecting buyers and tenants with properties throughout Asia. Spacious differentiates itself by combining a superior user experience with powerful analytical tools and relevant content. $3.5M in 2 Rounds 9GAG.TV is a website that features user-generated videos under categories such as fail and prank, comedy, game, cute, movie and TV, music, and more. $2.8M in 2 Rounds from 8 Investors including 500 startups and Y combinator Prenetics is a DNA bio-technology company focused on providing parents a higher level of pre-natal care which is highly accurate, safe, and non-invasively. $2.65M in 1 Round from 500 startups, Coent Venture Partners, Joel Neoh, SXE Venture advertizing MObile Multichannel is a marketing solution bridging languages, currencies, and regulatory barriers to deliver a message. Through differentiated marketing channels across the globe, the message is delivered to targeted clients effectively and efficiently. Animoca Brands develops and publishes great mobile games based on globally loved popular brands like Garfield, Doraemon etc. $3.42M in 3 Rounds from Cyberport Hong Kong, Dmitry Fedotov, Kevin Ng US$3.5 raised
  19. 19. ecommerce mobile mobile Grana is a fashion brand completely re‐imagined from the ground up. Their mission is to create timeless wardrobe essentials made from the world's best fabrics at the most disruptive prices ever seen. $2.5M in 2 Rounds from Big Bloom Investment, Bluebell Group, Golden Gate Venture Marketing automation software where users can quickly integrate the latest Online-To-Offline technologies into their business so they can: - Increase Revenue - Reduce waste - Create and automate comprehensive end to end consumer experiences. Snaptee is a mobile app that enables users to design personalized T- shirts. $2.1M in 2 Rounds from Vectr Ventures $1.95M in 3 Rounds from 11 Investors including Fresco Capital, Yat Siu, SXE Ventures, Big Bloom Investment entertainment VidOn.me helps users manage all the multimedia resources at home, so that users can access and play them on devices like TV, PC, iMac, iPad, iPhone, Android phone, etc., in any corner of their home. $2M Seed on December 30, 2014
  20. 20. games edutech media social media Frenzoo is a mobile game startup creating a new class of 3D lifestyle games for girls and women. The company’s offerings include the hit Me Girl™ series, enjoyed by millions around the world. $2M in 2 Rounds from 6 Investors including Fresco Capital, Wavemaker Partners 1. Snap; 2. Ask; 3. Learn. Trusted by 20,000 students across Asia, Snapask provides on-demand academic support from 1800 tutors, from the convenience of your pocket. $1.8M in 2 Rounds from Arthur Kho and SOSV Notey features the best blogs on over 500,000 topics. $1.6M in 1 Round from Hugo Barra, Ryan Holmes, Shakil Khan, Steve Kirsch Lamplight’s platform analyzes billions of social conversations in real-time to understand, target and influence Asian consumers. AfterShip is a shipment tracking application for online retailers, supporting USPS, FedEx, DHL, UPS, EMS & over 200 carriers. $1.5M in 1 Round from Vectr Venture $1M in 2 Rounds from 2 Investors Logistics
  21. 21. Swapit is a marketplace to trade wanted items nearby. Lux TNT is a an online platform selling the latest items from 4 prominent fashion weeks, and offers tailoring services. Popmap is an online platform showcasing products from local stores. Glamit is a beauty, fashion, and female lifestyle technology brand, developing customized, eco-chic products for women. Luxify.com is your online destination for browsing, buying and selling new, vintage, and pre-owned luxury goods. HelperChoice is an onlineplatform where you can find the best helper for your household. Enabling eCommerce Cross-Border shipping through technology. Pelago's vision is to create the next-generation mobile-first social events platform to attract the best audiences for organizers worldwide.
  22. 22. Monexo is an online marketplace for peer-to- peer lending. Gatecoin is a regulated, Money Service Operator- licensed digital currency exchange in Hong Kong. Currenxie is a peer to peer foreign exchange platform that offers more transparency. WeConvene brings both the buy side and sell side onto a common platform. FinTech Hardware EONIQ is the 1st mass customization platform for quality mechanical watches. Fight Heart Disease before it strikes with the power of big data analytics. Soundbrenner builds the world’s first wearable smart device for musicians. uHoo develops indoor air quality sensor.
  23. 23. US$ 95k Muku Shuttr is a bluetooth remote camera control . US$ 115k Ambi Climate : The Smart Add-On For Your Air Conditioner. US$ 160k EzeeCube is an open source, Apple TV®-like, entirely wireless device that automatically syncs and sorts your photos, videos and contacts. US$ 31k Huzi puts new perspectives into everyday objects by combining functionality and artistic sensibility. US$ 220k Soundbrenner builds the world’s first wearable smart device for musicians. US$ 296k With Aumeo, you can tailor your music to custom-fit your unique hearing.
  24. 24. IoT refers to any smart interconnected devices (e.g. RFID, sensors, etc.) adopted by businesses to obtain more visibility of the identification, location, and condition of products, assets, transactions, or even people. The ultimate goal is to be able to drive more effective, timely business decisions or to improve customer interactions. The Hong Kong SAR Government has addressed the importance of IoT in its agenda. The 2014 Digital 21 has recognized IoT as one of the latest technologies Hong Kong should adopt and champion, and the 2015 Policy Address introduced a new initiative “Energizing Kowloon East” aiming to carry out a pilot study in that district to examine the feasibility of developing a Smart City. It's easy to associate Hong Kong with the finance industry. Despite several FinTech accelerators being created recently (cf part 5), the number of FinTech startups represent no more than 5% of the entire ecosystem. Furthermore, the entire spectrum of "Finance" isn't well represented among startups: HK FinTech projects tend to focus on Institutional markets rather than Retail. FinTech entrepreneurs would acknowledge that with a population of only 8M habitants, HK doesn't have the same scalability opportunities than India or Mainland China.
  25. 25. 3. Community builders Startups can’t do it all alone! We’ve seen over the past 4 years a great number of community builders stepping up to create social links within the ecosystem. The continuous success of offline events, mentoring opportunities and online community platforms is a reliable marker that what the following people are doing is making a lasting impact on entrepreneurs. More connections + fast access to quality feedback and mentoring = higher chances of success!
  26. 26. Ada Yip 43 Ventures - Startup Weekend ChangeMakers Alan Chan Vectr Alexander List Dim Sum Lab Alexis Bautista Creative Jam HK Kokonuzz Allison Baum Fresco Capital Ankit Seti Startup Weekend SpotHelp Bay McLaughlin Brinc Ben Cheng Internet Society Hong Kong Oursky Limited Ben Crox BarCamp StartupCommune Betty Wong Google Eye Program
  27. 27. Casey Lau StartupsHK Web Summit Cesar Harada MakerBay / Protei Charles Ng InvestHK Cynthia Cheung StartupWeekend Hackathon David Baverez Private Investor Author David Chung Cyberport Deepack Madnani Paperclip Derek Kwik Venture Capital & Private Equity Elaine Tsung Garage Society Felix Lam Red Chapel Advisors
  28. 28. Gene Soo StartupsHK Citymapper Gino Yu Hong Kong Polytechnic University Gregory So Secretary for Commerce and Economic Developement Hong Kong Holger Bartel Harbour Front HK uforepublic Ltd. Irene Chu KPMG Ivy Shum TedxHK SMECC James Munro Boon UnLtd 43 Ventures Jayne Chan Startmeup HK Jeffrey Broer PostMortem Jennifer Cheng Investor - Writer
  29. 29. Joanna Cheung Tuspark Mart Van de Ven Open Data Jong Le TEDx Hong Kong RGL Ventures Joshua Steimle MWI - Forbes Juliet O’halloran Creative mornings Lawrence Morgan Nest Matthew Rudy Jacobs CodeaholicsHK CodeConf Michelle Buultjens Blueprint Michelle Sun Women Who Code First Code Academy Paul Cheung The Hong Kong University
  30. 30. Peter Mok Hong Kong Science & Technology Parks Stephen Barnes Hong Kong Visa Centre Ray Cheung City University of Hong Kong Raymond Chu HK Polytechnic University HK Design Centre Scott Lawson Sow Asia Simon Squibb Nest Theodore Ma Cocoon maBelle Timothy Yu HKUAEC snapask Tytus Michalski Fresco Capital Yat Siu Outblaze
  31. 31. Karena Belin Business Development - Fund Raising - Marketing Double diploma from ESSEC Business School in Paris / University of Manheim. 15 years for Procter & Gamble in Finance, Sales, Strategy and Management. Mentor at Poly U Entrepreneurial Mentorship Network and StartupWeekend Board member of WOW at the American Women’s Association. Karen Farzam Community Building - Fund Raising - Technology Double engineering diploma from EPF (France) / ETS (Canada) - Master in International Finance from HEC Paris. 6 years for JP Morgan Tokyo as a Exotic Equity Derivatives Trader. Worked in a IoT Startup / Taught Web Development at General Assembly. Co-Founder of Women Who Code HK - Speaker at International Conference.
  32. 32. Diane Mensah Strategic Partnerships Heather Lo Community Officer Graduated from Manchester University with a Bachelor in English Language and Literature Worked in luxury fashion retail management in the UK for 8 years and 3 years at the UK government Home Office overseas. Diane then joined General Assembly as the founding Admissions Manager in the company’s opening year in Hong Kong. Graduating with a B.A from Sun Yat-Sen University in Foreign Language Study. Spent 2 semesters at the University of Valladodid (Spain). Interned at Swire Properties. Matthieu Bodin Community and Fundraising Manager Graduated with a BBA from Essec Business School in Paris. Worked in the luxury industry and as project manager for a digital agency. Organizer of Startup Weekend HK & DrinkEntrepreneursHK. Co-directing the pre-accelerator Startup Next .
  33. 33. 4. Government support & Universities Commencing to realise the importance of entrepreneurship on the HK society, the government is consolidating the programs and organisations it controls: More resources, more activities and more visibility. Laws are being passed to make HK more attractive: New visa options, maintaining the simplicity to start / do business and considering to allow certain disruptions brought by tech startups. Universities are joining the movement by creating new programs.
  34. 34. - Incu-Tech is an incubation programme designed for technology start-up companies. - No equity stake - Financial aid : max HKD 645,000 - 3 years program - Electronics / Green Technology / Information and Communications Technology (ICT) / Material and Precision Engineering - Incu-Bio is an incubation programme designed for biotechnology start-up companies which need wet lab environment for their operation. - No equity stake - Financial aid : max HKD 860,000 - 4 years program - Therapeutics/ Personal Care Chinese or Herbal Medicine / Regenerative Medicines / Medical Devices / Diagnostics - Incu-App in an incubation programme which aims to provide support to web/ mobile application technology start-ups. - No equity stake - Financial aid : max HKD 300,000 - 18 months program - Web-based applications / Smartphone-based applications / PC/ internet/ smartphone/ console games HKSTP Incu-Tech HKSTP Incu-BIO HKSTP Incu-App Hong Kong Science & Technology Parks
  35. 35. Cyberport Incubation Program The Cyberport Incubation Programme offers financial assistance, supports and services to different incubatees. - No equity stake - Financial aid : max HKD 530,000 - 2 years max program - ICT-related Areas - HK Design Incubation is a programme to nurture start-up companies in the design and creative fields. - No equity stake - Financial aid : max HKD 260,000 - 2 years program - Design Cyberport Incubation Program HK Design Incubation Programme
  36. 36. The University of Hong Kong The Hong Kong University of Science and Technology The Hong Kong Baptiste University The Chinese University of Hong Kong The Hong Kong Polytechnique University The Lingnan University City University of Hong Kong
  37. 37. - IfE and J.C.DISI of The Hong Kong Polytechnic University - Good Seed Training and Funding Plan - Hong Kong Social Enterprise Challenge - Incubation Support - Vice-Chancellor’s Cup of Student Entrepreneurship - Business Entrepreneurship Support and Training Programme - Micro Fund Scheme - Tech Launchpad Fund Scheme - Student Contest Support Fund - Enterprises Limited - Entrepreneurship Programme - E-Academy - HKUST One Million Dollar Entrepreneurship Competition - Technology Transfer Office - Technology Startup Support Scheme - HKSTPC-PolyU Tech Incubation Fund Scheme The University of Hong Kong The Hong Kong University of Science and Technology The Hong Kong Baptiste University The Chinese University of Hong Kong City University of Hong Kong The Hong Kong Polytechnique University
  38. 38. 5. Incubators and Accelerator Programs HK used to have only a handful of Incubators and Accelerators a few years ago. It has now a large number of these intense 3 to 6 months programs, allowing the entrepreneurs to focus on their project while fundings, space, mentoring and knowledge may be taken care of. Sometimes associated with large MNCs or organisations depending on the government, Incubators and Accelerators are educating a new breed of entrepreneurs.
  39. 39. Seed accelerators also known as startup accelerators are fixed-term, cohort-based programs, that include mentorship and educational components and culminate in a public pitch event or demo day. While traditional business incubators are often government-funded, generally take no equity, and focus on biotech, medical technology, clean tech or product-centric companies, accelerators can be either privately or publicly funded and focus on a wide range of industries. - Wikipedia - Brinc is an IoT program that accelerates IoT startups from concept to sustainable commercialization. - Take equity stake. - 12 months program. - 3 cities including Hong Kong and Shenzen. - Portfolio: 15 startups. - FinTech Innovation Lab powered by Accenture brings together young FinTech companies with senior executives from financial institutions across Asia. - Take equity stake. - 12 weeks program. - 3 cities including New York, London, Hong Kong. - < 10 startups per batch. - SuperCharger is powered by Standard Chartered, Baidu x APIStore and TusPark Global Network. - take equity stake: 30,000$ for 5% - 12 weeks program. - Based in Hong Kong. Brinc IoT / Hardware FinTech Innovation Lab FinTech SuperCharger FinTech
  40. 40. Blueprint - B2B NEST - HealthCare Accelerator powered by AIA - SmartCity Accelerator powered by Infinity - FinTech Accelerator powered by Infinity - Blueprint is a mentor-driven accelerator program powered by Swire. - No equity stake - 6 months program - Based in Hong Kong - Approximately 10 startups per batch - Mentor-driven accelerator programs. - No initial equity stake -12 weeks program - Based in Hong Kong
  41. 41. - i2i, funded by JP Morgan, is an accelerator program designed to help businesses clarify their social impact, improve their business model, and refine their pitch for investment.. - No equity stake - Financial aid : none - 3 months program - Based in Hong Kong - social challenges / Environment SOW Asia Incubation program
  42. 42. The Empowering Young Entrepreneurs (EYE) Program is a year-long entrepreneurship program launched by Google and Center for Entrepreneurship of The Chinese University of Hong Kong in 2013. The initiative is inspired by the budding entrepreneurial environment in Hong Kong. . - No equity stake - Financial aid : max HKD 530,000 - 1 year max program - Based in Hong Kong - Theme “Living in the Mobile-First World” - Startup Next is an intensive five-week program that gives your team the tools and mentorship needed to navigate the early stages of building a startup. - No equity stake - Financial aid : none - 5 weeks program - Based in Hong Kong - Tech Empowering Young Entrepreneur (EYE)Startup Next
  43. 43. 6. Competitions, events
  44. 44. - CoCoon Pitch Night (receive up to HKD 100,000 for the winning team) - Asia Social Innovation Award (regional audience) Startup competitions to validate / test / get feedback on your startup Hackathons or events to start your own business - Global Student Challenge (competition with international participants) - HSBC Youth Business Award (validation from a world famous bank) - International Startup Competition by TiE (compete at an international level at the second round) - Pitch Perfect ( chance to gain funding from China or overseas investors ) - Seedstars world (international impact) - Startmeup.hk (organised by InvestHK) - YDC e-challenge (up to HKD 30,000 for the winning team) - Young Entrepreneur of the Year by HKFYG (important organisation locally) - Startup Weekend - Angelhack
  45. 45. - Codeaholics (gatherings of developers) - Barcamp (unconference to explore different tech topics) - Creative Mornings (early morning interviews of "out of the ordinary" professionals) - DigiMeet (meetup to learn about digital marketing) - DrinkEntrepreneurs (monthly casual meetup) - Friday Beer Bay (weekly casual meetup) - Postmortem Conf (1 day conference with entrepreneurs explaining why they failed) - Startup Grind (interviews of established entrepreneurs) - TEDx HK (TED-style events) - RISE HK (3 days conference with hundreds of startups and thousands of visitors) - WebWednesday (interviews of entrepreneurs on the way up) - Women Who Code HK (women web developer monthly gathering)
  46. 46. 7. Talent's corner A startup is composed of a team sharing the same mission and vision. There are many incredibly talented people in Hong Kong and while it is improving, many engineers would rather work at a larger corporation instead of a startup. Getting your pool of talent right is therefore a continuous challenge. Don't underestimate the time and efforts required and hopefully the following resources will help you along the journey. Get started early, test fast and retain or move on!
  47. 47. W Hub has been the first to organize HK Tech & Startups Job Fair in Hong Kong in collaboration with Garage Society. With more than 500 talents, 80+ job opportunities and 20 startups, stay put for the next one on W Hub.
  48. 48. 3 HK Tech & Startup Job Fairs
  49. 49. of the startups are proactively looking to recruit talent 2 applications per job on average The record is 21 3 talents contacted by startups per job post 35% developers and engineers; 15% sales and business developers; 12% marketers; 8% designers. and 11% are internships Date.today.prev_month 3 full time positions source: W Hub Date.today.prev_month 2
  50. 50. 8. Co-working Spaces
  51. 51. 1. The Hub Wanchai 2. blueprint 3. Centre O Connect 4. CoCoon 5. Coffice 6. Cowork CHM 7. Cyberport Smart-Space 8. Dim Sum Labs 9. Fashion Farm Foundation (FFF) 10. Garage Society 11. HaHaHub 12. HKFYG Social Innovation Centre 13. HKSTP Soft Landing Centre 14. Hong Kong Commons 15. Incu-Labspace 16. Innovation Lab 17. Jumpstart Offices 18. LOffice IncuCenter 19. MakerBay 20. MakerHive 21. MISSOLINK 22. Paperclip Startup Campus 23. PLATFORM 24. Regus 25. Retro Spot 26. Startup Commune 27. Startup Business Centre 28. The Crafties 29. The Coffee House Cowork 30. The Collab 31. The Good Lab 32. The Hive 33. The Loft 34. Thinkaholic 35. TusParkHK 36. UNO Co-working Space 37. UNWIRE Space 38. Wynd Co-Working Space
  52. 52. 9. Venture Capital
  53. 53. Arbor Ventures - Big data, financial services and digital commerce - Founders : Wei Hopeman, Melissa Guzy - Seed and Early Stage Venture Investments - Invested in : 2C2P - A-SaaS - DemystData - Lufax - paidy - pipaHR - Stockpile - Streem - ABRA - Hardware + Software Integration, Robotics, Security, A.I., Smart Home - Family Investment Office - Seed, Early Stage Venture, and Later Stage Venture Investments - Invested in : More than 12 investments inc. Spotify - Bluesmart - Insight Robotics - Wonder Workshop - Kairos Watches - Dash Robotics - Spire Global - Bikanda Bright Success Capital Click Ventures - Founder : Carman Chan - Seed, Early Stage Venture, and Later Stage Venture Investments - Invested in : More than 18 investments inc. EventXtra, parklu, Spotify, Palantir Technologies, Meetup, Launchpilots, Scout.
  54. 54. DOW Venture Capital Fresco Capital IDG Capital Partners - Challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity - startup companies in various stages of maturity across a broad set of markets. - Active since 1993 - Education - Enterprise - Infrastructure - Healthcare - Consumer - Early stage venture investor - Invested in : More than 43 investments inc. Snaptee - Parklu - Plukka - Insight Robotics - Jamn - Fresco - Frenzoo - launch pilots - Consumer products, franchise services, internet and wireless applications, new media, education, healthcare, new energy, and advanced manufacturing sectors. - Primarily focusing on investing in China related venture capital and private equity projects. - Seed, venture, and growth-stage funding - Invested in more than 400 companies
  55. 55. Intel Capital - Datacenter software, datacenter-cloud, digital media, Internet of Things, ultrabook, manufacturing and labs, security, services -open source, smartphones – tablets, wearables. - Any stage of growth - Invested in more than 300 companies - Seed and Early Stage Venture Investments - Invested in : Filipagram, Jamn, Hummingbird Innovations, Soapbox, Xnotes Alliance Mind FundMount Parker - Fund and advise early-stage business ventures in Asia.- Invested in : Gogo Van, Shopline, Cultish
  56. 56. Orchid Asia - Enterprise Software, E- Commerce, Education - Investment group with offices in Hong Kong, Shenzhen, Shanghai, Beijing and Guangzhou - Invested in more than 10 companies - Builds and backs sustainable large-scale business models in rapidly growing internet markets - Seed and Early Stage Venture Investments - Invested in / started : Compare Asia - Zalora - FoodPanda - Groupon - HelloFresh Nova Founders CapitalSequoia Capital - Energy, Enterprise, Financial, Health Care, Internet, Mobile - Seed, Early Stage Venture, and Later Stage Venture Investments - Invested in more than 600 companies
  57. 57. 10. Resources
  58. 58. Join these communities to build meaningful connections: HK communities : - (360+ HK entrepreneurs) HKStartups: - (80+ entrepreneurs, managed by) StartupsHK: bit.ly/HKstartups startupshk.typeform.com/to/SnHD4N Communities worldwide - (+40 French entrepreneurs) FrenchTechHK: - (3,000+ worldwide) #startup: - (2,300+ worldwide and 70+ in HK) Product Hunt: bit.ly/FrenchTechHK startupfoundation.co phglobal.co Grow your startup with these lists of online tools: - whub.io/deals - growth.supply/free - marketingstack.io - startupery.com - toolsalad.com
  59. 59. Entering Hong Kong for the first time and in need of a Visa? Here are the different types of Visa available : - Admission Schemes for Talent, Professionals and Entrepreneurs - General Employment Policy (GEP) - Investment as Entrepreneurs - Visit / Transit - Working holiday
  60. 60. - The American Chamber of Commerce in Hong Kong (AMCHAM) Entrepreneurs / SME - The British Chamber of Commerce in Hong Kong (BRITCHAM) Business Angels - The Canadian Chamber of Commerce in Hong Kong (CANCHAM) Entrepreneurs / Small Businesses - http://www.whub.io/blog - http://e27.co/ - http://entrepreneurhk.org/ - http://www.fintech.hk - http://jumpstartmag.com/ - http://scmp.com/ - http://startupshk.com/ - http://techcrunch.com/ - https://techinasia.com/
  61. 61. 11. References
  62. 62. http://www.startmeup.hk/en/inside-scoop/news-update/newsfeed/hong-kong-has-17000-free-wifi-spots/ Market Indicators http://startupangels.co/market/hongkong/ World Bank’s Doing Business Report 2015 http://www.doingbusiness.org/ranking DB 2015 Rank Corruption Perceptions Index 2014 http://www.transparency.org/cpi2014/infographic’ The International Property Rights Index 2014 http://internationalpropertyrightsindex.org/ WIPO 2014 The Global Startup Ecosystem Report 2015 v1.2 World Economic Forum http://reports.weforum.org/global-competitiveness-report-2014-2015/economies/#economy=HKG Getting Finding for your Startup - InvestHK Hong Kong The Global Connector for Startups - Startmeup.hk Startup ecosystem survey - http://www.startmeup.hk/en/one-stop-hong-kong/startup-ecosystem-survey/ ESSEC-Hong Kong Startup Scene Hong Kong's internet speed ranked number one in the world_2 Feb 2014 http://www.startmeup.hk/en/inside-scoop/news-update/newsfeed/hong-kongs-internet-speed-ranked-number- one-in-the-world/ On Hong Kong’s Booming Start-up Scene_Cyberport https://www.cyberport.hk/files/526a47e7ece89351592355/Cyberport%20Article%20Britain%20in%20Hong%20Kong%20Oct%202013.pdf Where Business Goes to Grow_InvestHK http://www1.investhk.gov.hk/wp-content/uploads/2015/06/DGIP_Singapore-JP-June-2015-r2.pdf Hong Kong GDP Annual Growth Rate_Trading Economics.com http://www.tradingeconomics.com/hong-kong/gdp-growth-annual The Demographics : Ethnic Groups_Race Relations Unit http://www.had.gov.hk/rru/english/info/info_dem.html LinkedIn member http://www.mumbrella.asia/2015/03/linkedin-eclipses-1m-members-hong-kong/ http://www.go-globe.hk/blog/ecommerce-hong-kong/ http://reports.weforum.org/global-competitiveness-report-2014-2015/economies/#economy=HKG http://www.go-globe.hk/blog/social-media-hong-kong/ social media usage http://www.go-globe.hk/blog/internet-usage-hong-kong/ internet usage http://www.go-globe.hk/blog/smartphone-usage-hong-kong/ smartphone usage http://www.doingbusiness.org/data/exploreeconomies/hong-kong-china/ http://www.investhk.gov.hk/why-hong-kong/government-support-for-companies.html http://www.startmeup.hk/en/resources/government-support/ http://www.startmeup.hk/en/resources/government-support/ http://www.gov.hk/en/business/supportenterprises/funding/ http://www.investhk.gov.hk/why-hong-kong/government-support-for-companies.html Startbase http://www.startbase.hk Tech in Asia https://www.techinasia.com/ Statista http://www.statista.com/statistics/250503/big-four-accounting-firms-number-of-employees/ http://www.sef.hku.hk/events/Ecosystemresult/ 50 Hong Kong Startups You Should Get To Know http://foundersgrid.com/50-hong-kong-startups http://jumpstartmag.com/coworking-spaces/complete-list-of-coworking-spaces-in-hong-kong/#Coffice http://www.immd.gov.hk
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