Another Funding Avenue for Hong Kong Startups

Nest, Hong Kong’s preeminent startup incubator has launched Investable.vc, a platform through which Hong Kong based startups can receive equity funding. Though TechCrunch is reporting this to be a ‘crowdfunding’ platform, it is less KickStarter-ish and more AngelList-ish (#hkuiom folks will appreciate this common misconception regarding ‘crowdfunding’). Startups that pass the Nest vetting process, but cannot be funded due to lack of expertise or funding, can raise equity via this platform. Investors who use this platform must be accredited (i.e. have a  portfolio of US$ 1 million).

Good news for the startup community in Hong Kong in general, and #hkuiom and #hkuisad communities in particular!

 

Now NEST, a Hong Kong incubator, has launched Investable.vc, an accredited equity crowdfunding platform for startups, giving founders yet more options when seeking funding.

Investable says that within the first day of the site’s launch, more than 100 professional investors sign up. Three investors have already committed $150,000 to startups on the platform, which currently lists 15 companies for its beta launch. One hardware startup called Simple Crossing, which makes wearable tech products for elderly people, has already raised 75% of the total $100,000 that it is seeking.

via Hong Kong Incubator NEST Launches An Equity Crowdfunding Platform For Startups | TechCrunch.

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Smartphone Wars: iPhone Trade-Ins

 

 

On the heels of recent news that Samsung has overtaken Apple as the largest Smartphone manufacturer, one is seeing more aggressive marketing. There was a recent deal on Groupon in Hong Kong, which offered a Samsung Galaxy SIII in return for an iPhone 4S plus 90 US dollars. While this seems quite a steal, there were not many takers for this deal. This implies that either folks are not keen on the switch (iPhone 4 s to SIII), or that there are better (cheaper!) trade-in offers available in the Hong Kong market. Note that long-term contracts are not in vogue in this market, hence contract lock-in can be plausibly ruled out as the cause for low uptake of this offer.

 

Image via Groupon (Hong Kong)