Intro to the Hong Kong Startup Scene
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The document provides an overview of the Hong Kong startup scene. It summarizes Casey Lau's experience in Hong Kong tech startups and the growth of StartupsHK, a community he co-founded that has grown from 6 to over 5,000 members in 3 years. It also outlines various incubators/accelerators, co-working spaces, networking events, and challenges facing the Hong Kong startup ecosystem such as a lack of local Series A investors and clear exit strategies.
Intro to the Hong Kong Startup Scene
- 1. Casey Lau @casey_lau Updated and revised: JUNE 18, 2014 INTRO TO THE HONG KONG STARTUP SCENE
- 2. INTRODUCTION ‣ 15 years in tech startup industry in Hong Kong. ‣ Launched 1st e-commerce site in HK. ‣ Sold 2 startups, 1 failed, 1 exists. ‣ Startup Morpheus. CASEY LAU CO-FOUNDER, STARTUPSHK COMMUNITY MANAGER APAC, SOFTLAYER CATALYST
- 5. INTRO TO THE HONG KONG STARTUP SCENE 5 CAFE HABITUCIRCA 2009
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- 10. INTRO TO THE HONG KONG STARTUP SCENE 10
- 11. ‣ 6 to 5000 members in 3 years. ‣ Entrepreneurs, media, students, investors. ‣ Meet-ups, conferences, networking events. ‣ Membership program. ‣ Matchmaker. ‣ Voice outside HK. INTRO TO THE HONG KONG STARTUP SCENE STARTUPS HK 11
- 12. INTRO TO THE HONG KONG STARTUP SCENE 5,000+ Subscribers TREMENDOUS REACH ON SOCIAL MEDIA (JUNE 2014) 3,200+ Fans 11,000+ Views 2,600+ Members 6,700+ Followers 50,000+ Visitors/month 12
- 13. INTRO TO THE HONG KONG STARTUP SCENE TRACKING HK ANGELS AND VENTURE GROUPS 13
- 14. INTRO TO THE HONG KONG STARTUP SCENE INCUBATORS/ACCELERATORS 14 Incubation Centre
- 15. Startup Saturday 2010 - Our first event! Expected: 100 people. Actual: 500 attendees! Keynote: Douglas Young, Founder of G.O.D.
- 16. Pitch Night: 100-200 attend in conjunction with global Social Media Week 2012. Live streaming online to 500+ more. CNN coverage.
- 17. Startup Weekend: 48-hours to form a team and pitch your start-up idea. Over 1000 entrants since 2010.
- 18. Startup Saturday 2011: Annual 1-day conference. 700 people attended with guests Dave McClure of 500 Startups and Brian Chesky of AirBNB.com.
- 19. Startup Saturday: Mobilliance 2013
- 20. H3: Hacker/Huster/Hipster Networking Event
- 21. CoCoon Pitch Night raised HK$11.5 million for startups since January.
- 22. INTRO TO THE HONG KONG STARTUP SCENE 22
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- 24. INTRO TO THE HONG KONG STARTUP SCENE WHAT MAKES HONG KONG SPECIAL? ‣ Business registration ‣ Strong IP law ‣ International community ‣ Not China, Not South East Asia ‣ SME City/resources
- 27. INTRO TO THE HONG KONG STARTUP SCENE 27 ‣ MailTime: US$500K ‣ SnapTee: US$650K ‣ OpenBall: US$750K ‣ HotelQuickly: US$1.1 million ‣ AfterShip: US$1 million ‣ Bindo: US$1.8 million ‣ 9Gag: US$2.8 million ‣ DeMyst: US$5 million ‣ WeLab: US$14 million KEY STARTUP INVESTMENTS
- 28. INTRO TO THE HONG KONG STARTUP SCENE 28 STARTUP GROWTH IN HONG KONG
- 29. 2011
- 30. 2014
- 31. INTRO TO THE HONG KONG STARTUP SCENE 31 BIG TECH COMPANIES IN HONG KONG
- 32. INTRO TO THE HONG KONG STARTUP SCENE 32 HONG KONG’S EXITS
- 33. INTRO TO THE HONG KONG STARTUP SCENE 33 HONG KONG’S FUNDED STARTUPS
- 34. INTRO TO THE HONG KONG STARTUP SCENE 34 MY PICKS FOR MOST PROMISING STARTUPS
- 35. HONG KONG’S STARTUP LEADERS INTRO TO THE HONG KONG STARTUP SCENE 35 Ray Chan Founder, 9gag Yat Siu Founder, Outblaze David Zhu Co-Founder, Divide !
- 36. HONG KONG’S ANGEL INVESTORS INTRO TO THE HONG KONG STARTUP SCENE 36 Tytus Michalski Fresco Capital Melissa Guzy Arbor Partners Felix Lam Red Chapel !
- 37. HONG KONG’S STARTUP CONNECTORS INTRO TO THE HONG KONG STARTUP SCENE 37 Elaine Tsung Garage Society Charles Ng InvestHK Gene Soo StartupsHK !
- 38. INTRO TO THE HONG KONG STARTUP SCENE VENTURE CAPITAL ‣ Not many active local VC’s/ Private Equity. ‣ Some startups can secure seed in HK but need to go overseas for Series A. ‣ Government grants a good start. ‣ New influx of Angels. ‣ No big tech companies for exits. 38
- 39. INTRO TO THE HONG KONG STARTUP SCENE HK IS NOT SILICON VALLEY, WILL NEVER BE 39
- 40. INTRO TO THE HONG KONG STARTUP SCENE THIS IS HONG KONG FROM OUTSIDE 40
- 41. INTRO TO THE HONG KONG STARTUP SCENE THIS IS HONG KONG FROM INSIDE 41
- 42. INTRO TO THE HONG KONG STARTUP SCENE GOVERNMENT SUPPORT 42 ‣ Science Park ‣ Cyberport
- 43. INTRO TO THE HONG KONG STARTUP SCENE 43
- 44. INTRO TO THE HONG KONG STARTUP SCENE CO-WORKSPACES 44 ‣ The Hive ‣ Wan Chai ‣ SME’s ‣ Asia offices ‣ Startups ‣ Dedicated
- 45. INTRO TO THE HONG KONG STARTUP SCENE CO-WORKSPACES 45 ‣ CoCoon ‣ North Point ‣ Startups ‣ Accelerators ‣ Events
- 46. INTRO TO THE HONG KONG STARTUP SCENE CO-WORKSPACES 46 ‣ The Good Lab ‣ Cheung Sha Wan ‣ Social Enterprises ‣ Startups ‣ Dedicated !
- 47. INTRO TO THE HONG KONG STARTUP SCENE CO-WORKSPACES 47 ‣ PaperClipHK ‣ Sheung Wan ‣ Academy ‣ Desks ‣ Eventspace !
- 48. INTRO TO THE HONG KONG STARTUP SCENE CO-WORKSPACES 48 ‣ Garage Society ‣ Central ‣ General Assembly ‣ Hot desks and offices ‣ $$$ !
- 49. INTRO TO THE HONG KONG STARTUP SCENE WYND 49
- 50. INTRO TO THE HONG KONG STARTUP SCENE 50 THEHIVEKTOWN THELOFT 80/80SPACE INNOVATIONLAB RETROSPOT PLATFORM DIMSUMLABS SMARTSPACE THECRAFTIES OBI-ONE
- 55. INTRO TO THE HONG KONG STARTUP SCENE HONG KONG CHALLENGES 55 ‣ Series A Investors ‣ Clear Exit Strategies ‣ Education ‣ Work Visas ‣ Talent
- 56. INTRO TO THE HONG KONG STARTUP SCENE HK CHINESE CYNICISM 56 ‣ Parental restrictions ‣ Property/Stocks ‣ Bank hiring ‣ Low tech education ‣ Role Models ‣ Globalization ‣ Fear of Failure
- 57. INTRO TO THE HONG KONG STARTUP SCENE BAD IDEAS 57 ‣ Happy Hour Apps ‣ Co-Workspace without clear value ‣ Startup without validation ‣ Not in industry you understand ! GOOD IDEAS ‣ Anything that gets traction ‣ Mentorship programs ‣ PRoFiL: Property, Retail, Finance, Logistics ‣ Change the world or at least the Enterprise.
- 58. INTRO TO THE HONG KONG STARTUP SCENE $1M INVESTMENT MILESTONES PRODUCT TEAM TRACTION ‣ Enterprise: 1,000 seats @ US$10/seat per month. ‣ Big Enterprise: 2 Pilot contracts. Some $$$ ‣ Social: 100K+ downloads/signups ‣ Ecommerce: US$50K revenue/month 58 http://techcrunch.com/2013/04/22/want-to-raise-a-million-bucks-heres-what-youll-need/ Via Ash Fontana of AngelList
- 59. ‣ 88-gong.com ‣ JobsDB.com ‣ LinkedIn ‣ startbase.recruit.net INTRO TO THE HONG KONG STARTUP SCENE HIRING + JOBS 59
- 60. INTRO TO THE HONG KONG STARTUP SCENE 60 NETWORKING EVENTS ‣ StartupsHK.com Calendar ‣ Web Wednesday ‣ Mobile Monday ‣ Startup Grind ‣ Co-Workspace Events ‣ TiE ‣ Catalyst After Office Hours ‣ OpenData Hong Kong ‣ SME Creativity Center ‣ Startup Weekend ‣ Internet Society ‣ HK Social ‣ H3
- 61. INTRO TO THE HONG KONG STARTUP SCENE BUILDING AN ECOSYSTEM 61 ‣ Networking ‣ Sharing ‣ Education ‣ TRANSPARENCY! !
- 62. INTRO TO THE HONG KONG STARTUP SCENE SYNC UP WITH HONG KONG 62 >STARTUPSHK.COM NEWS&CALENDAR ! >STARTBASE.HK DIRECTORY&JOBS
- 63. INTRO TO THE HONG KONG STARTUP SCENE 63 CASEY@STARTUPSHK.COM LINKEDIN ANGELLIST @CASEY_LAU !