Demo Day is fast approaching for our startups.
We've just confirmed the date and venue, and it promises to be an impressive event, even bigger and better than last time.
Personal invites to our investor network will be sent out next week.
If you're an investor and would like to attend, please let me know.
The focus of the last week was preparing our startups to fundraise.
We started by holding a workshop, led by our director, Nio Liyanage, to start the process of optimizing each startup's fundraising strategy.
How much funding should you raise?
Why are you raising it?
What will the funding be used for?
These are all important questions to carefully consider before approaching any investors.
Representing the Hong Kong ecosystem in Macau
Our objective at Betatron is to take our startups from the seed-stage to raising their first institutional investment round.
To assist with this process, last Friday at Vectr Ventures, we hosted a private VIP event for our startups and investor network.
Raising funding from angel investors is a completely different job than closing investment from VCs.
Investor's invest in LINES not DOTS.
What does this mean?
There's a great article by the successful VC, Mark Suster, which explains this concept.
The first time you meet an investor you are a DOT. A single data point.
Investors have no reference from which to judge whether you were higher on the y-axis 3 months ago or lower.
Therefore, meet potential investors as early as possible and tell them what you plan to achieve by the next time you see them.
It's been another busy week at Betatron, but before I begin...
It was a pleasure to welcome the Korean startup accelerator, Y&Archer, and their 20 startups into the Hong Kong ecosystem last week.
On Monday, we partnered with them to launch the 'Asian Startup Conference & Demo Day', which was held at PMQ.
It was a fantastic event combining keynotes from VCs, roundtable discussions on accelerators, and pitches from a selection of our cohorts.
To celebrate our new partnership with Y&Archer, we hosted an event for our teams, investors, and startups to connect over pizza and another 'all you can drink' open bar.
Unfortunately, though, the bar wasn't stocked up with enough Soju. Lesson learned for next time! ;)
We're looking forward to returning the favour and next time visiting the ecosystem in Seoul!
At Betatron, we're focused on continuing to expand our network and developing mutually beneficial partnerships with other startup ecosystems around the world.
By doing so, and introducing startups, potential clients, mentors, and investors to one another, we can increase the "network effect", and ultimately, add even more value to our portfolio of startups.
If you're an accelerator based overseas and would like to explore collaboration with Betatron - reach out and let me know! :)
Last night, we held a launch event to officially announce the eight startups Betatron has invested in for cohort 2.
Nio Liyanage kicked off the event with a brief introduction to Betatron's new structure, which includes the addition of nine new investors.
Next, the eight startups introduced themselves to the audience with the elevator pitches they've been working on over the last week.
Finally, we concluded with a panel discussion on the startup fundraising ecosystem in Hong Kong.
Joining me on the panel were different members of the Betatron network, including our director (Nio Liyanage), founding partners (Rafal Czerniawski from IC Studio & Roland Yau from CoCoon Ignite Ventures), a startup from cohort 1 (Matthew Ng from Pakpobox), and a supporting partner (Karena Belin from WHub).
Thanks again to our drinks sponsors for the night - Carlsberg, Somersby, Kronenbourg, and Thirsty Brothers!
Who are the startups in cohort 2?
Each startup receives US$30,000 investment and will be guided through an intensive four-month period to refine their business model and fast-track them to grow and scale.
It promises to be an exciting four months ahead with this group of passionate and hungry founders.
Here are the eight startups.
Review of Week 1
It's been a busy first week for the startups in cohort 2, as on Monday, they all officially moved into our new home at Naked Hub in Sheung Wan.
While from Tuesday to Thursday, we prepared our startups for the intensive four months ahead with a three-day bootcamp.
The objective of the bootcamp was to introduce the fundamental principles involved in building a successful startup to ensure all the founders were at the same stage.
We've been incredibly busy over the past four months, making significant improvements to the team, program structure, and investor network - to ensure we can add even more value and deliver even better results for our startups.
New Investor Partners
We've brought in six new investors into the Betatron network, which will each add their own unique value to our startups. Two of them include:
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!