On Wednesday last week, we hosted an event at CoCoon co-working space thanks to one of our founding partners, CoCoon Ignite Ventures.
The event was an opportunity for the community to learn about the application process for cohort 2 and hear from the graduates of cohort 1.
The panel discussion with the graduates of cohort 1 featured Cassie Mak (Off Menu), Christian Secci (Pakpobox) and Lhimark Lau (Vmind). Felix Wong from our other startup (LogFlows) unfortunately couldn’t make it as he stuck in China, so Roland Yau, the lead mentor of Pakpobox, also joined the panel.
Where are the startups now compared to when they joined Betatron?
Applications are now open for Cohort #2 and will close on August 14th 2017.
However, this time, once Betatron has found their chosen startups, we will close applications.
Betatron will be reviewing applications on a rolling basis and interviewing applicants weekly.
This means, the sooner you apply, the better your chances of getting accepted!
After four-months of hard work and dedication, it was finally time for our cohort to pitch their startups at Demo Day, which held on Thursday 15th June 2017 at Metta.
It was a private, invitation-only event as we wanted to focus on a quality audience which could add the most value to our startups. The venue ended up being filled to max capacity as we had 147 attendees who were either investors, strategic partners, or press. Thanks to everyone who came!
Betatron wasn't vertical or industry-specific. The focus, however, was on Hong Kong-based startups and building a unique accelerator for the local ecosystem.
The objective was to optimize the startups’ business model, position them to scale, and then help them raise their first institutional investment round.
At the beginning of our Betatron startup accelerator, one of the missions, which all of our founding partners shared, was that we wanted to be as transparent as possible about the inner workings of the programme with the rest of the startup ecosystem.
Therefore, we held an event on Tuesday 9th May at WeWork Wanchai and decided to share some of the insights we’ve learned so far with the community.
Here are seven of the main takeaways.
Betatron Startup, Pakpobox, Generates Over US$700,000 Revenue & Secures Investment From A Strategic Partner
We’re only halfway through our Betatron startup accelerator programme, but we're already delighted to see the significant traction which our startups are starting to generate.
Online retailers have traditionally struggled to solve the problem of how to best deliver products to their end consumers. Solving this problem is one of our startups, Pakpobox.
Andy Ann (CEO & Founder of NDN Group) came in to share with our cohort some of the insights and tips he’s learned from his entrepreneurial journey.
He’s had a rollercoaster ride, which started shortly after he quit his job at Ogilvy & Mather in 2001. Since then, he’s truly lived the definition of being a “serial entrepreneur”.
Over the last 16 years, Andy’s built and exited multiple businesses (along with several failures, too), which began with his first venture in the events industry in Lan Kwai Fong.
After being in the events industry for a couple of years, he recognized an opportunity and spotted the potential of building a digital advertising platform. This led him to build Hot Media in 2004, which is now used across lifestyle locations in Hong Kong such as Karaoke bars, McDonald's, coffee shops, and gyms.
As technology developed over the years, so did the complexity of his advertising platforms. Andy launched other startups in the same industry including Hotmob in 2007, which was a pioneer in the mobile marketing sector, as it offered a mobile advertising marketplace for both advertisers and publishers.
As a startup founder, it’s important to understand the process of raising capital from institutional investors.
In the early stages of your startup, it’s recommended to secure investment from family and friends. However, once you get to the stage where you’re seeking institutional investment, it becomes a much more complex process.
To shed some light on this topic, one of Betatron’s founding partners, Roland Yau (Managing Director of CoCoon Ignite Ventures) spoke to our startups and shared his advice on the typical due diligence process.
Here are the five biggest takeaways:
Now that all the paperwork is completed and our teams have been announced, I can finally write my first blog post on some of the happenings, learnings and progress over the first three weeks of our programme.
On Thursday nights, Betatron brings in various people from the startup community, as well as people directly associated with the programme, to talk about various aspects of startup life.
We're delighted to announce the startups who have successfully made it into our first accelerator programme.
We received 147 official applications and after analysing each one in depth, we shortlisted our top 32.
The top 32 were then invited to our 'pitch round' - where they had to pitch their startup in under 3 minutes and then face Q&A from our team.
After the pitches were over, we narrowed them to our final 10, who we believed were the most suitable, and that we could add the most value to, through our programme.
The last round entailed in depth discussions, analysis, and due diligence of their startup.
Four startups successfully made it through the entire process and have just started the programme.
Each startup will receive US$30,000 funding, hands-on mentorship from our team of industry experts and experienced entrepreneurs, and also be provided with free workspace at our Betatron Lab in WeWork (Tower 535, Causeway Bay).
The programme will last four months, and has been carefully designed to optimize each startup, and then position them to scale by raising further funding.
The startups in our first cohort are: