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Intro to the Hong Kong Startup Scene

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My presentation from my General Assembly class on the startup scene in Hong Kong.

My presentation from my General Assembly class on the startup scene in Hong Kong.

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  • 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
  • 3. CYBERPORTCIRCA 2009
  • 4. INTRO TO THE HONG KONG STARTUP SCENE 5 CAFE HABITUCIRCA 2009
  • 5. 6 BOOTHKCIRCA 2010
  • 6. INTRO TO THE HONG KONG STARTUP SCENE 8
  • 7. 9
  • 8. INTRO TO THE HONG KONG STARTUP SCENE 10
  • 9. ‣ 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
  • 10. 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
  • 11. INTRO TO THE HONG KONG STARTUP SCENE TRACKING HK ANGELS AND VENTURE GROUPS 13
  • 12. INTRO TO THE HONG KONG STARTUP SCENE INCUBATORS/ACCELERATORS 14 Incubation Centre
  • 13. Startup Saturday 2010 - Our first event! Expected: 100 people. Actual: 500 attendees! Keynote: Douglas Young, Founder of G.O.D.
  • 14. Pitch Night: 100-200 attend in conjunction with global Social Media Week 2012. Live streaming online to 500+ more. CNN coverage.
  • 15. Startup Weekend: 48-hours to form a team and pitch your start-up idea. Over 1000 entrants since 2010.
  • 16. Startup Saturday 2011: Annual 1-day conference. 700 people attended with guests Dave McClure of 500 Startups and Brian Chesky of AirBNB.com.
  • 17. Startup Saturday: Mobilliance 2013
  • 18. H3: Hacker/Huster/Hipster Networking Event
  • 19. CoCoon Pitch Night raised HK$11.5 million for startups since January.
  • 20. INTRO TO THE HONG KONG STARTUP SCENE 22
  • 21. INTRO TO THE HONG KONG STARTUP SCENE 23
  • 22. 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
  • 23. 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
  • 24. INTRO TO THE HONG KONG STARTUP SCENE 28 STARTUP GROWTH IN HONG KONG
  • 25. 2011
  • 26. 2014
  • 27. INTRO TO THE HONG KONG STARTUP SCENE 31 BIG TECH COMPANIES IN HONG KONG
  • 28. INTRO TO THE HONG KONG STARTUP SCENE 32 HONG KONG’S EXITS
  • 29. INTRO TO THE HONG KONG STARTUP SCENE 33 HONG KONG’S FUNDED STARTUPS
  • 30. INTRO TO THE HONG KONG STARTUP SCENE 34 MY PICKS FOR MOST PROMISING STARTUPS
  • 31. 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 !
  • 32. 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 !
  • 33. HONG KONG’S STARTUP CONNECTORS INTRO TO THE HONG KONG STARTUP SCENE 37 Elaine Tsung Garage Society Charles Ng
 InvestHK Gene Soo StartupsHK !
  • 34. 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
  • 35. INTRO TO THE HONG KONG STARTUP SCENE HK IS NOT SILICON VALLEY, WILL NEVER BE 39
  • 36. INTRO TO THE HONG KONG STARTUP SCENE THIS IS HONG KONG FROM OUTSIDE 40
  • 37. INTRO TO THE HONG KONG STARTUP SCENE THIS IS HONG KONG FROM INSIDE 41
  • 38. INTRO TO THE HONG KONG STARTUP SCENE GOVERNMENT SUPPORT 42 ‣ Science Park ‣ Cyberport
  • 39. INTRO TO THE HONG KONG STARTUP SCENE 43
  • 40. INTRO TO THE HONG KONG STARTUP SCENE CO-WORKSPACES 44 ‣ The Hive ‣ Wan Chai ‣ SME’s ‣ Asia offices ‣ Startups ‣ Dedicated
  • 41. INTRO TO THE HONG KONG STARTUP SCENE CO-WORKSPACES 45 ‣ CoCoon ‣ North Point ‣ Startups ‣ Accelerators ‣ Events
  • 42. INTRO TO THE HONG KONG STARTUP SCENE CO-WORKSPACES 46 ‣ The Good Lab ‣ Cheung Sha Wan ‣ Social Enterprises ‣ Startups ‣ Dedicated !
  • 43. INTRO TO THE HONG KONG STARTUP SCENE CO-WORKSPACES 47 ‣ PaperClipHK ‣ Sheung Wan ‣ Academy ‣ Desks ‣ Eventspace !
  • 44. INTRO TO THE HONG KONG STARTUP SCENE CO-WORKSPACES 48 ‣ Garage Society ‣ Central ‣ General Assembly ‣ Hot desks and offices ‣ $$$ !
  • 45. INTRO TO THE HONG KONG STARTUP SCENE WYND 49
  • 46. INTRO TO THE HONG KONG STARTUP SCENE 50 THEHIVEKTOWN THELOFT 80/80SPACE INNOVATIONLAB RETROSPOT PLATFORM DIMSUMLABS SMARTSPACE THECRAFTIES OBI-ONE
  • 47. INTRO TO THE HONG KONG STARTUP SCENE HONG KONG CHALLENGES 55 ‣ Series A Investors ‣ Clear Exit Strategies ‣ Education ‣ Work Visas ‣ Talent
  • 48. INTRO TO THE HONG KONG STARTUP SCENE HK CHINESE CYNICISM 56 ‣ Parental restrictions ‣ Property/Stocks ‣ Bank hiring ‣ Low tech education ‣ Role Models ‣ Globalization ‣ Fear of Failure
  • 49. INTRO TO THE HONG KONG STARTUP SCENE BAD IDEAS 57 ‣ Happy Hour Apps ‣ Co-Workspace without clear value ‣ Startup without validation ‣ Not in industry you understand ! GOOD IDEAS ‣ Anything that gets traction ‣ Mentorship programs ‣ PRoFiL: Property, Retail, Finance, Logistics ‣ Change the world or at least the Enterprise.
  • 50. INTRO TO THE HONG KONG STARTUP SCENE $1M INVESTMENT MILESTONES PRODUCT TEAM TRACTION ‣ Enterprise: 1,000 seats @ US$10/seat per month. ‣ Big Enterprise: 2 Pilot contracts. Some $$$ ‣ 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
  • 51. ‣ 88-gong.com ‣ JobsDB.com ‣ LinkedIn ‣ startbase.recruit.net INTRO TO THE HONG KONG STARTUP SCENE HIRING + JOBS 59
  • 52. 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
  • 53. INTRO TO THE HONG KONG STARTUP SCENE BUILDING AN ECOSYSTEM 61 ‣ Networking ‣ Sharing ‣ Education ‣ TRANSPARENCY! !
  • 54. INTRO TO THE HONG KONG STARTUP SCENE SYNC UP WITH HONG KONG 62 >STARTUPSHK.COM NEWS&CALENDAR ! >STARTBASE.HK DIRECTORY&JOBS
  • 55. INTRO TO THE HONG KONG STARTUP SCENE 63 CASEY@STARTUPSHK.COM LINKEDIN ANGELLIST @CASEY_LAU !