Before the forum start, group photo of speaker was taken.
Robert Chow (周融) (Chairman, Robert Chow and Friends Limited) was invited to chair the forum. He said the 3% to 7% return on investment (ROI) was too low. Organization investor was looking for 25% or more ROI.
The first speaker was Mr. Allen Yeung (楊德斌) (VP - BDTS, HKSTPC and Chairman of HKBAN) and he explained what is Angel Investment. Angel Investment was started more than twenty years ago in USA and Europe. The investor supported the potential start-up company in early stage included cash, technology and networking, etc. Those angel investors would get some share of the start-up company.
The Mr. Allen Yeung explained the investment risk and amount in different stage of the start-up company growth. The investment in early stage would suffer high risk but it could be very high return if success.
Then Mr. Allen Yeung introduced Hong Kong Business Angel Network (HKBAN) which was formed by Hong Kong Science and Technology Parks Corporation (HKSTPC), HKVCA, CUHK, HKUST, HKU and POLYU in 2010. Angels were being invited to join several Investment Matching Gatherings (IMGs) where entrepreneurs from the incubation programme of HKSTPC and universities had presented their business plans. Then nine succeed cases were shared.
The second speaker was Prof. Wilton Chau (周志偉) (Associate Director, CUHK and Vice Chairman of HKBAN) and he shared his investment experience. He explained why risky of angel investment. It was because of limited resources, no track record, no customer's base, highly dependent on entrepreneurs, very difficult to measure and usually in a total loss situation.
Angel Investment risk was certain and the next questions were how much money could earn, what is the maximum loss and any non-monetary return, etc.
Then Prof. Chau mentioned the complex venture development path. He said the project would be fail if one of part was fail. Therefore, Prof. Chau taught us to question before investment as below:
Where is the current position?
Where will the finish point be?
How to go from the current point to the finish point?
Any execution plan or hurdles? Can the management plus you have the ability to overcome this hurdles?
Finally, Prof. Chau said investor needed to look for someone with experience and track record. No Trust No Investment is always true.
The third speakers were Mr. Martin Tsang (曾偉華) (Project Director and co-founder of AMOS Enterprises Ltd) and Ms. Liza Wong (王麗文) (Guru Online). Liza was angel investor of Martin’s company. They shared their matching experience.
Ms. Liza Wong said the investment match was like “Marriage” as follows:
Vision (緣份)
Ms. Liza Wong said the investment match was like “Marriage” as follows:
Vision (緣份)
Value System (價值觀一致)
Integrity (互信)
Financing (理財有道)
Passion on business (他愛我比我愛他多)
Before investment: understand industry prospect, business model & founder capability (婚前:睇到佢實一實)
After investment: give enough freedom for the founder (婚後:隻眼開隻眼閉)
Link up resources and connection (盡力幫助老公)
Discuss investment amount and shareholder rights (婚前要討論禮金)
But Ms. Liza Wong pointed out some dissimilar between investment and marriage below.
Exit plan vs not a life (一生一世)
Many investment vs not unique (一夫一妻)
The last speaker was Mr. Shih Wing Ching (施永青) (Chairman, am730) and his topic was Hong Kong start-up environment. He said the younger generation had more chance to study in university, the less chance they would be entrepreneur. Mr. Shih also said the social environment became hate the businessman that was no good for entrepreneurship.
Mr. Shih said entrepreneur solved the problem by themselves, not through government or parties. Then he explained the value of his start-up fund with two conditions. One was in the distribution model of surplus that shared to shareholders, staffs and re-investment after minus all expenses. The other value was employed the theory of Lao-tzu (a Chinese philosopher in the Spring and Autumn Period). Until now, 7 companies succeed to apply Shih’s fund where 2 had higher potential, 4 were striking and 1 die.
But Ms. Liza Wong pointed out some dissimilar between investment and marriage below.
Exit plan vs not a life (一生一世)
Many investment vs not unique (一夫一妻)
The last speaker was Mr. Shih Wing Ching (施永青) (Chairman, am730) and his topic was Hong Kong start-up environment. He said the younger generation had more chance to study in university, the less chance they would be entrepreneur. Mr. Shih also said the social environment became hate the businessman that was no good for entrepreneurship.
Mr. Shih said entrepreneur solved the problem by themselves, not through government or parties. Then he explained the value of his start-up fund with two conditions. One was in the distribution model of surplus that shared to shareholders, staffs and re-investment after minus all expenses. The other value was employed the theory of Lao-tzu (a Chinese philosopher in the Spring and Autumn Period). Until now, 7 companies succeed to apply Shih’s fund where 2 had higher potential, 4 were striking and 1 die.
Q&A Session
Photo with Mr. Robert Chow (周融)
Photo with Mr. Shih Wing Ching (施永青)
Photo with Mr. Robert Chow (周融)
Photo with Mr. Shih Wing Ching (施永青)
Reference:
HKBAN - http://www.hkban.org/
1 則留言:
Thanks for posting such excellent speech in particular Lisa's life-experienced comment.
Btw, Cheung Kwai Yeung somewhat retracted his comment. Also I suppose relationship between citizen and government is totally different from employee and company.
If I were your son, after through discussion I promised to study medi but in the last day I back off. Would you then treat me as a stranger ever since.
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