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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: [email protected]; 2629 6733 Paperclip HK: [email protected]; 3586 2888 CoCoon: [email protected]; 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.
