1. A
s we reach the year's end, are you left wondering what all those long hours in
the office have really been for? Ever considered being your own boss? And ever
imagined yourself as a budding technology entrepreneur? The TechnoPreneur
Partnership Programme (TPP), newly launched by Hong Kong Science and
Technology Parks Corporation (HKSTP), definitely has something for you!
In a company's vulnerable early years, most face what is known in the business world as
the ‘valley of death’. This is the financial risk that start-ups face after investing money into
their idea, with a slim hope of success, or of coming out the other side. With the typical
survival rate of a venture being less than 50 percent, facing the valley of death is the end of
the line for most entrepreneurs. This is where TPP comes in.
For the past 13 years, HKSTP has been running a series of incubation programmes with
the aim to nurture technology entrepreneurs, connect them to investors and empower them
to turn innovative ideas into marketable products and services that benefit society. With their
substantial resources, these programmes have managed to nurture over 450 technology
start-ups at the Science Park, enabling them to move on to become successful enterprises,
including four local and overseas IPOs. With this experience in hand, HKSTP is now taking one
step further and reaching out to a wider circle, in the form of Hong Kong's start-up community.
The TechnoPreneur Partnership Programme (TPP) was spearheaded by HKSTP in November
this year. Partnering with 13 co-working spaces and six local universities, TPP reinforces the
ideals of better serving young enterprises on their road to victory. The wide range of services
and resources offered, not to mention networking opportunities, are crucial to start-ups during
their inception stage.
The start-up landscape in Hong Kong has exploded in recent years. Growing from six to 37 co-
working spaces in just two years, it is now the best time to work with like-minded and adventurous
people for a brighter future. As the famous saying goes, "If not now, when?" With all the plethora
of support available for technology start-ups, like TPP run by HKSTP, there is no better time to
throw off your bowlines and hop on board!
SPECIAL FEATURE
JUMP START YOUR CAREER
One of the success stories that grew out of this cross-incubator partnership is
the mobile app Playroll, which provides value for money e-ticketing services to
consumers and event organisers. Started at CoCoon and then moved to Science
Park through HKSTP’s incubation programme, Hing Cheng, co-founder of Playroll, is
grateful for the keen support from CoCoon and HKSTP. “Going into the incubation
programme allowed us to gain more recognition and recruit the technical talents we
need. We are also offered financial aid for hiring interns or going to global pitches.
It's been extremely helpful!” Cheng adds that, TPP is a brilliant initiative. “With
a statutory organisation working with universities and privately owned co-working
spaces, the synergy will help bring together all passionate and creative people to
promote innovation and technology in Hong Kong!”
Interested? Here's who you can contact:
HKSTP: biadmin@hkstp.org; 2629 6733
Paperclip HK: startup@papercliphk.com; 3586 2888
CoCoon: yo@HKCoCoon.org; 3158 2999
BRIDGING THE GAP
Allen Yeung, Vice President of HKSTP,
was eager to share his vision. “This
is what we like to consider a vibrant
ecosystem working together. Our
partners are the bridge between
the Corporation and start-ups. With
TPP, we now get connected to the
whole start-up community and, in
return, we offer our services, network
and resources to the technology
entrepreneurs under our TPP partners.
It is a two-way support system!”
EMPOWERING ENTREPRENEURS
“No one could have all the resources. Every partner in this programme can offer
different things for entrepreneurs”, says Theodore Ma, co-founder of CoCoon, a
partnering co-working space in TPP. He notes that ‘collaboration is the nature of start-
ups. CoCoon is set up for innovative talents and investors to meet and deliver results
together. With TPP in place, start-ups based at CoCoon are now able to enjoy a more
customised and tailored support to get to cross the early-stage threshold’.
This flexibility serves as a great opportunity for young enterprises to take advantage
of the funding and resources HKSTP provides, as well as networking chances to
explore joint partnerships. HKSTP also houses professionals, such as legal and
accounting consultants to help start-ups effectively commercialise their ideas.
“There's definitely a lot of ways that entrepreneurs can make use of the abundant
resources available to them,” concludes Ma.
SHARING KNOWLEDGE AND EXPERIENCE
Deepak Madnani, founder of Paperclip HK, is in agreement of the power
of collaboration. Jokingly calling himself the ‘failure specialist’, Madnani
has experienced bankruptcy twice. He is a staunch believer in experience
sharing and sees Paperclip as a ‘start-up campus’. “Paperclip is a
co-working space and academy. A lot of stuff can be taught and shared
so you don't have to make so many mistakes. Meeting like-minded
people is a crucial process in the entrepreneurial journey. Those helping
entrepreneurs will throw themselves into creating an energetic ecosystem
to connect start-ups." He is also impressed by HKSTP's offerings, “There
is no way we could offer the same types of resources and technical
abilities. But that's the beauty of it. Every part of this ecosystem is
necessary in the development of a start-up,” adds Madnani.
FINDING SUCCESS
Hong Kong Science and Technology Parks Corporation launched the TechnoPreneur
Partnership Programme (TPP), putting Hong Kong's start-up community on the right track.