5 Hong Kong Logistics Startups to Keep an Eye On in 2017

hkLogistics_startups

StartupsHK co-founder Casey Lau always advises new entrepreneurs to focus on one of the 3 pillars of Hong Kong – finance, property and logistics – when choosing a vertical to concentrate on, if they want to get traction and be ahead of other markets while being based in Hong Kong.

Hong Kong is the top largest air cargo hubs, and the 4th biggest container port. The port provides 70 shipping lines, over 350 container line services per week and covers more than 510 destinations around the world.

The trading and logistic sector in Hong Kong generates 28 percent of the total GDP and the sector employs 24 percent of the total Hong Kong working force.

The busy financial centre is a well-connected city with a long history for being an accessible port to entry China and other regions in South East Asia. Hong Kong’s free tax port among other government countenance have made of Hong Kong a hub for logistics startups a great place to kickoff.

The changing environment in the e-commerce and the growth of demand from consumer goods in Asia, are pushing the logistics startups to come strong and reinvent and make more efficient industry.

Here are the 5 startups that are taking advantage of the great connectivity conditions in Hong Kong and are now reinventing the scene; they are worth taking a look into them.

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Betatron – Hong Kong’s newest accelerator coming in February [deadline for application: this Friday 16th December 9pm]

Betatron Team

Betatron team

Application deadline: countdown

 

Betatron is Hong Kong’s newest accelerator programme providing both funding and hands-on mentorship to help optimize and scale startups.

The programme will be run bootcamp style with an intensive schedule focused on the startup’s fundamental KPIs and progress.

It will launch on Monday 13th February 2017 and will take on FIVE startups in their first cohort.

We spoke to the Programme Manager for Betatron, Michael Kerr, to learn more about it.

What type of startups are you looking for?

Our mission over the four-month programme is to make your startup a viable and investable business. For this to occur, we are looking for teams with a developed product that we can work with. Again, we only have four months, so each startup needs to assess whether they feel they are at an appropriate stage. Additionally, our goal is to help the Hong Kong startup ecosystem and back local talent. As such, we aren’t limiting applicants to a specific industry or vertical. If you have a promising product – you can apply!

 

What do the startups receive when they get accepted?

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We are HK Founders: Simon Loong of WeLab

SUHK_1_WeLend

Simon Loong is Founder and CEO of WeLab. Simon graduated from Stanford Graduate School of Business in Master of Science in Management prior to that he also became a Certified Public Accountant. This year he was awarded CEO of the Year by Capital CEO in 2016 and Silicon Dragon’s Entrepreneur Achievement Award in 2014.

Before founding the FinTech startup specializing in mobile lending, Simon spent 15 years in retail baking divisions in Standard Chartered and more recently, Citibank. He also served as an advisor on a number of professional organizations including Shenzhen Consumer Council, Hong Kong Trade Development Council and Hong Kong General Chamber of Commerce

In your own words what does your startup do?

Founded in 2013 in Hong Kong, WeLab is reinventing traditional financial services by creating seamless mobile lending experiences. With its proprietary risk management technology, we effectively analyze unstructured mobile big data within seconds to make credit decisions for individual borrowers.

WeLab operates Wolaidai (我来贷), one of China’s largest mobile lending platforms, and WeLend, Hong Kong’s leading online lending platform. The company also partners with traditional financial institutions, which utilize WeLab’s technology to offer fintech-enabled solutions to their customers. Our investors include CK Hutchison’s TOM Group, Malaysian sovereign wealth fund Khazanah Nasional Berhad, Chinese provincial government fund Guangdong Technology Financial Group, ING Bank and Sequoia Capital.

In 2016, WeLab was named in a KPMG-sponsored report as one of the top 100 fintech companies in the world – #6 in China and #33 globally.

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