Q & A

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How do I know which product idea to proceed with if I have several ideas?

1 answers 23 JAN 2019

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Sonya Lee

Test and validate as quickly as possible. The one that can demonstrate a customers' readiness to pay will indicate a higher success rate and growth trend. However, that being said, if the business model is a long-term data play, then this will not make sense. read more

What are the essential steps I need to take to ensure a successful product launch?

1 answers 23 JAN 2019

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Sonya Lee

Ensure that there is a strong enough case to support customer and market validation. You want to make sure that you constantly measure customer acquisition and 'readiness to pay' during the beginning phases of your startup. This is essential to do even before launch. Failure to find this can result in the launch of a company or product with no customers. read more

What is the single advice that you'll give to a young first-time startup founder?

1 answers 23 JAN 2019

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Sonya Lee

Understand monetization and compensation plans before you spend any time building a product or company. If you jump in with both feet, only to realize 12 months down the road that it will take another 5 years to generate a profit, you might find yourself in a situation where you run out of money to support yourself. Always evaluate your personal money situation before you assume any startup, team or product has any potential for growth. read more

What are essential steps I need to take to ensure a successful product launch?

1 answers 07 DEC 2018

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Alvin Lam

There shall be 3 important steps: 1. Make sure the product has it's unique edge that could beat up any competitors 2. Make a good name and hire suitable PR and marketing agencies to launch and marketing campaign to boost the sales and public awareness of your product. 3. Collect as much data as possible for future customer relationship management. (CRM) to turn potential customers to paid customers. read more

Which has been the most successful merger or acquisition in Hong Kong?

1 answers 07 DEC 2018

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Alvin Lam

There are different types of M&A happened in HK. So far, from the past 5 years, the Merger of PacificLink to Accenture shall be the largest one in the IT industry. Just sorry that we can't disclose the amount. Reference from the available largest IT acquisition cases performed by Listed companies, PacificLink was the largest case among all. read more

Should I ask money from Angels or VC?

1 answers 07 DEC 2018

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Alvin Lam

If your project has the potential to scale up by capital investment, you should ask Angels investment funds to boost your growth. T12M Ventures is one of the early stage Angel investment firms. read more

What options do I have to raise funding for my startup?

1 answers 07 DEC 2018

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Alvin Lam

There are many Gov't Fund managed by Cyberport and HKSTP. You could also apply for different Gov't ITF funds for different types of startups. At your starting point, you could raise fundfrom 3F, named friends, family and Fool. read more

How do I know when to push internally for the product, or spend the time looking for funding?

1 answers 05 DEC 2018

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Juliette Gimenez

It's always the hardest to balance the two haha I always ask myself that question too but I honestly find it possible to do both at the same time!!! Since it's a chicken and egg problem, if you don't have a good product it'll take you forever to look for funding right haha? And as long as you have a killer product idea and just a prototype, you can start pitching to get funding in no time!! And in startup world, words spread out quickly and doesn't harm to be more active in the circle like attending networking events and listen to talks since you'll never know who you can meet there and learn from!] read more

What are the best strategies for creating a competitive sales commission structure for a new technology startup?

1 answers 05 DEC 2018

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Juliette Gimenez

Sales and business development is definitely a big part of the revenue income for any startup, and to attract the best talents it's not only just creating a competitive sales commission structure, there are many other ways to incentivise the sales team such as share options plan. Traditional sales commission structure may work such as KPI-driven targets. Most importantly it's an aggressive target, if you've got a solid and passionate team that sees the product as their little baby, they'll for sure go the extra mile right? read more

What are the main differences between the U.S. and Hong Kong tech startups work cultures?

1 answers 05 DEC 2018

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Juliette Gimenez

I haven't worked in nor managed a U.S. tech startup before but I do understand the landscape is very different! U.S. tech startups are much more focused on work-life balance, benefits and flexibility whereas Hong Kong tech startups are more about working smart, speedy, passionately and maximizing the most deliverables with limited resources. I believe some level of this is due to the level of funding, Hong Kong tech startups unfortunately don't get as much funding if comparing with tech startups in the U.S. given the target markets can be totally different and would drastically affect the salary, benefits and all. But at the same time, both work cultures are super hardworking and passionate in my opinion to help the team grow bigger and make the products fly to the max! read more

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