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Unlocking the Secrets Behind Hong Kong’s 18 Unicorns: Insights from Cindy Chow, Executive Director of Alibaba Entrepreneurs Fund

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💡Have you ever wondered why Hong Kong could create 18 unicorns (3 were already listed) in the last 8 years? Grateful to have an opportunity to discuss with Cindy Chow, one of elite and pioneering leaders in the Hong Kong startups ecosystem, on this topic in our 🎬🎙#RTHK New Management Thinking programme #管理新思維. Cindy is the Executive Director of the globally-known #AEF Alibaba Entrepreneurs Fund. Really appreciate and heartfelt thank to Cindy for her insights and inspiring sharing.

AEF has invested and nurtured more than 60 startups since founded in 2015. 5 of those companies were either unicorns (#Airwallex, #AnimocaBrands, #WeLab) or listed companies (#GOGOX, #Prenetics). Impressive and what a miracle that we had here in Hong Kong! However, we only had less than 0.5% of over 4,000 startups made this list. How can startups learn from the best and enhance their chance of success? I have discussed this theme with Cindy in our programme.

We looked at a few key things in specific.

1. What are the critical success factors and characteristics of the unicorns?

2. What has AEF done to nurture these unicorns?

3. How can we encourage and nurture more young people especially female students to participate in tech entrepreneurship journey?

4. How can we empower our startups to capture the opportunities in #GBA? How can Hong Kong play a pivotal role to empower GBA startups to expand to ASEAN and global market?

5. How do we pick the right startups to invest on? What new direction or types of startups that AEF is looking at? How do we attract the best startups to be our investment portfolio?

If you would like to learn more about all these questions from my discussion with Cindy, please tune in #RTHK1 radio this Sunday Jun 18 from 2pm to 4pm. Stay tuned and don’t miss it. https://lnkd.in/f-X8RaN

Yes, it is on the Father’s Day. Our gift for all fathers and all your beloved. Wish you all have a wonderful and warm Father’s Day. Cheers.

Remarks: If you cannot make it, I will post the link here for you to replay the recording later. Check this post again Sunday night and onwards.

As promised, here is the link for the replay. Enjoy!
https://lnkd.in/gYddhHHW
https://lnkd.in/gFgthySQ

#Startups #Unicorn #Entrepreneurship #Innovation #Technology #TechInvestment #TechInvestor #VC #VentureCapital #WomenInTech #Alibaba #FathersDay
CUHK EMBA CUHK Business School #CUHKEMBA

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Latest Events

Think and Act BOLDER Culture: Co-creating Values for Our Customers

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“Think and Act BOLDER Culture: Co-creating Values for Our Customers” is the main theme for the 2nd Mastermind Forum of Sunlife Hong Kong. This series of forums aim to empower Sunlife’s teammates and their ecosystem to innovate more effectively for customer value creation. Over 350 Sunlife colleagues and their ecosystem partners have participated in the forum today through f2f and online channels. More forums on different themes are on the road ahead. We have invited the top leaders in innovation from tech giants, conglomerates, and startups to be our guest panelists. Grateful to moderate this fruitful discussion panel. We talked about the values, challenges, critical success factors, #culture, #leadership, and #talents for corporate innovation, especially in traditional companies. Our panelists shared practical examples and tips with Sunlife colleagues and their #ecosystem partners. Big thanks to our panel speakers Tat Lee #WeLab, Jacqueline Chong #AWS #Amazon, Herman Cheng #SHK, Teddy Liu, and Cynthia Sit #SunLife. Appreciate Sunlife Hong Kong’s CEO Clement Lam and his teammates Alice Chuck, Shirley Mak, Carmen Lo and many others to make this forum a success. #BolderandBeyond #放膽創 #CorporateInnovation #DigitalTransformation #Startups #Innovation #Entrepreneurship #intrapreneurship #SunLifeHK #CUHK

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Latest Events

(Hong Kong) Knowledge of Design Week 2021

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Thanks to Michael Ng #WeLab Bank, Yvonne Leung #Alipay HK and Ken Lo #SF Supply Chain for their insightful sharing in our panel in the 2021 #KODW Conference. It was organized by the Hong Kong Design Centre (HKDC). We talked about Winning in Hyper-efficient Commerce.

My key takeaways were Relevancy, Experience and Trust. Our panelists shared how they have brought these values to their customers and the key role of #data in achieving these goals.

Appreciate #HKDC team led by Eric Yim Edmund Lee Jillian Lee to organize such a marvelous global conference. More about the conference https://lnkd.in/e9EAmgT

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Activities

(Hong Kong) WeLab Group Visit – One of the HKICT Awards Winners

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Right after our Hong Kong FinTech Week 2020 last week & right before the announcement of the 2020 #HKICTAwards FinTech Award Winners tomorrow, I visited the CEO of the leading FinTech company in Hong Kong i.e. Simon Loong of WeLab Group today.

#WeLab is one of the leading #FinTech #Unicorns in the world. They pioneered so much that we, #startups or #incumbents, can learn from them. Thanks for Simon’s & Professor Chan’s leadership.

“Inspiring Workspace” is what I described their headquarters. I see young professionals with passion. I see #DNA of an Unicorn. I particularly love the quotes on the wall, e.g., “Never Not My Job” reminds us the importance of #Agility & “Stay Hungry” reminds us the importance of #Sustainable #Innovation. Great #culture!

I also learnt their history from the Bell on the wall (They rang the bell when they hit performance target), #永樂街 (their 1st office), table tennis table (once was their workbench), van, little unicorn..

Special thank to Simon to write a Preface for my book #數碼力大提升。He also shared copies of my book to his teammates. Really appreciate it. Look forward to writing the next chapters of WeLab in many years ahead.

Well done team:Kelly Wong Adrian Tse Fiona Ng Jessica Lam Tat Lee Kenny Cheng Paul Ip Nancy H. many unsung heroes.

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Activities

Hong Kong FinTech Startups Shine in 2020 Asian Financial Forum (AFF)

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AFF2020 AsianFinancialForum in Hong Kong was powered by lots of FinTech this year. Recalled that AFF had not much on FinTech 4 years ago. Our Cyberport team working with HKTDC made this happened. We are so grateful that FinTech is now a core part of the AFF every year.

More importantly, a number of FinTech startups started 4 years ago & now they became key players in the financial services industry. Covergo  Wesurance  InsurTech Farseer FinancialIntelligence Transwap Remittance HeyCoins DigitalCash EarthChannel RegTech DigitalTransaction Blockchain PolyDigi CyberSecurity IxFinTech WealthTech NexChange Platform Gini Neat GekkoLab & more.  Keep it up teams Tomas Holub Stanley King Lun Chan Benjamin Wong Eddie RONG Adam Lau Wai Kong Wong Ian Huang Curtis Chan Irene OL Wong (黃愛玲) Juwan Lee Natalie Fong & more.

Thanks for Cyberport Chairman Dr. George Lam, CEO Peter Yan FinTech Head Charles Lam have been giving lots of support to the FinTech ecosystem in HK. From >50 FinTech startups 4 years ago, Cyberport has nearly 400 now & a few more hundreds around in HK. A few are Unicorns already such as WeLab TNG. Thanks to InvestHK King Leung, HKMA Nelson Chow, HKSTP George Tee, DIT Ivan Yip & more.

More can be found here https://lnkd.in/ffPv7cg

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Activities

(Thailand) GBA and Thailand Collaboration for ASEAN Markets

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  • #Thailand is catching up in the Innovation and Technology space after great unicorns like #Grab from #Singapore and #GoJek from #Indonesia have proven their impact to the #ASEAN region. I visited two of their leading drivers in Thailand, #InnoSpace and #DEPA, and exchanged ideas how to bring our startups ecosystem from the #GreaterBayArea to Thailand and vice versa for mutual growth.
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