icon_hacks_b Created with Sketch. Garage Blog

How to seek out venture capital for your startup in Hong Kong

Gaining access to funding is one of the most crucial factors for entrepreneurial success, especially at an early stage. Capital can be raised in several ways, from using your own money to borrowing from a bank, or accepting a third-party investment to help you get your business up and running. Getting a venture capital is one of the best ways to launch your business when your company isn’t at an IPO stage or in the stock market yet. Venture capitalists offer a wealth of collaboration, investment, and other opportunities for startups, but many entrepreneurs and startups in Hong Kong don’t know how the venture capital investment process works. Here are 3 major elements that can help you to pitch your business ideas successfully:

1. Big Bets, Big Payoff

 

Venture capitalists are highly selective, they are looking for startups with enormous growth potential that caters to the bigger market. All investors operate on a “Go Big or Go Home” mentality, so you'd better be going after an enormous market opportunity! You might be wondering what exactly is a "big" market? And how do you define "big" in this case?  For “big”, we mean multi-billion dollars, venture capitalists want to see an outcome of $100 million net worth or more, they are not satisfied with $10 million, $25 million, or $50 million exits. Venture capitalists are here to help you grow, and a big market provides your firm with a larger room to develop. On the contrary, a small or medium-sized market may not have enough room for decent growth, therefore, satisfying an investor’s aggressive return expectation is the key to seeking venture capital.

 

2. The Uniqueness of Your Product

 

A distinctive product or service is able to draw the investors’ attention instantly. Developing a one of a kind product is not easy, yet, its uniqueness makes it harder for competitors to replicate what you have. Investors will not only try to understand the technical capabilities of your product but also determine if the product is solving problems for potential consumers and hopefully, change the world like other revolutionary inventions did. Here are several ways to stand out:

•    Product differentiation: Distinguish your product from similar offerings on the market

•    Process differentiation: Provide newer and more efficient ways of solving the same problems

•    Price point differentiation: Sell your product or service with a different pricing strategy

 

3. Data, Data and Data!

 

Your idea is not good enough if it is not backed up by data. Data is king when pitching your company to venture capitals, as investors love figures! Make sure you back everything up with metrics and solid data. Providing solid data can not only help them better understand your business but also instills a great degree of confidence into investors that your business is worth investing in.

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This week, we sit down with Michelle Hong, co-founder of Rooftop Republic, a social enterprise on a mission to introduce the joys of urban farming to the city folk of Hong Kong.

 

Rooftop Republic has been part of the Garage Community since 2018, and they have a rooftop farm on the terrace of our Wan Chai Lockhart space.

 

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icon_hacks_b Created with Sketch. Garage Blog 6 Ways To Support Small Businesses

The advent of user-friendly e-commerce tools has made starting your own small business easier than ever.

With so many people embarking on their entrepreneurial journey, we thought we’d give you a reminder on how to support small, local business owners. 


We encourage everyone to be conscious consumers - whether this means voting with your dollar for locally farmed vegetables, or writing a positive review for the indie coffee shop in your neighbourhood.

 

Here are a few ideas to get started: 
 

icon_hacks_b Created with Sketch. Garage Blog Your 4-Step Wellbeing Toolkit

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Considering that Hong Kongers have some of the longest working hours in the world, it’s important to carve out some time for yourself.

 

Here is a comprehensive wellbeing toolkit with guides, recommendations, and resources for bettering your mind and body. 

 

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