Hong Kong Rapid Incubator
Hong Kong has a lot of good government supported programs for startups, but I'm seeing there are big gaps in the whole system.
For the current incubation programs, they offer very good opportunities for companies to help offset initial costs and to make some connections that otherwise may be more difficult as well as potentially some office space.
For the current angel investor market, there are people with money that want to invest, but either they can not find the companies (or the companies can not find them) or they don't have a good background to comfortably invest in the newer business models.
With all of this here, there isn't anyone supporting actively promoting collaboration between startups. Many of the companies in the incubation programs have no idea of who else is in the same program. There is little in way of places to come and learn the essential fundamentals of how to start a business.
I am currently starting a pitching group to help entrepreneurs become better at approaching investors, and also to start putting together a forum for angels to connect to potential companies.
I think there is still more that can be done. In the heritage of Y Combinator, I am going to put together a company that is focused towards giving opportunities and training to startups and to help tie together these resources that are here. It looks like with a small initial investment, I'll be able to put over 300 2-person companies through a three month course of learning about all of the business fundamentals, to product and marketing development, and putting together the plan for the next steps. I'm hoping that having this kind of structure will make it more easy to attract local investors to these companies, and that the ones that go on to the incubation programs will have a stronger position to keep growing.
This is just the initial seed, but so far everyone that I've talked with from all sides of the table sees the need. After looking at how it might work, I can see that there is a good business opportunity as well, so now it is just a matter of putting all of the details together and finding some funds to kick it off. I think it will be very exciting.
