原文: https://inews.hket.com/article/3479683/%E3%80%90%E5%A4%A2%E6%83%B3%E6%9C%AC%E6%87%89%E7%BF%B1%E7%BF%94-iM%E7%B6%B2%E6%AC%84%E3%80%91%E9%9D%92%E5%B9%B4%E5%9C%A8%E5%AD%B8%E6%9C%9F%E9%96%93%E7%87%9F%E5%95%86%C2%A0%20%E7%8D%B2%E5%89%B5%E6%A5%AD%E5%9F%BA%E9%87%91%E9%9D%92%E7%9D%9E%E3%80%8C%E8%B5%B7%E6%AD%A5%E3%80%8D%C2%A0%C2%A0%C2%A0%C2%A0%C2%A0%C2%A0%C2%A0?mtc=40001&srkw=iMoney%E5%A4%A2%E6%83%B3%E6%9C%AC%E6%87%89%E7%BF%B1%E7%BF%94

“Young people starting a business often find that raising capital is the first step. Attracting startup funding is indeed a significant challenge. In this issue, I want to share the story of a university student who, despite lacking funds, successfully secured various startup grants, enabling him to get off the ground.

In his early twenties, Ivan Wong Man-yeung, a graduate of the Global Business Program at the Chinese University of Hong Kong, co-founded Flowclass with Jason Lo Chun-yip and two other classmates. Flowclass is a tool designed to help educational institutions and private tutors build enrollment systems. It allows users to create websites, promote courses, and manage registrations using its “no-code” tools. The business initially targeted the local market in Hong Kong, aiming to penetrate the market of educational centers and private tutors across the city. Ivan said, “Our long-term goal is to develop a SaaS software applicable to any market and expand into other regions, such as Taiwan and Singapore, where tutoring is more prevalent.”

Two years before founding Flowclass, Ivan started a “shared notes platform,” but found limited market demand. He then created a tutor matching application. At that time, as a second-year university student, Ivan lacked sufficient funds to start his business. He participated in the incubation program at the Chinese University of Hong Kong and later successfully secured support from the Cyberport Creative Micro Fund and the Youth Impact Inno Impact Youth Entrepreneurship Program. He recalled, “If it weren’t for the ‘equity-free’ and ‘no strings attached’ startup grants, I wouldn’t have been able to start my business so easily.” He believes that such programs play a crucial role for university students who lack the funds to start their own businesses.

Regarding the entrepreneurial mindset, Ivan believes that there is a stark difference between the student period and post-graduation. He admitted, “In university, I didn’t have many concerns. It was all about ‘doing what I wanted’ and being happy. But after graduation, I started to consider the future development of myself and the company, constantly worrying about the company’s operations and finances. When developing products, I would pay more attention to market reactions and returns, rather than just ‘doing what I wanted.’”

Silent support from family

Since Ivan had successfully secured several startup grants during his university years, he felt grateful and said, “Although my family couldn’t provide financial or networking support, they still supported my entrepreneurial endeavors by quietly preparing meals and soup for me when I came home from work. They didn’t hold me back or pressure me, allowing me to choose my own path. This made me feel very warm and fortunate.”

Besides family support, Ivan believes that Hong Kong has a well-established hardware and software infrastructure to support the continuous development of startups. He added, “In Hong Kong, I’ve received a lot of selfless support from entrepreneurs. Some shared their experiences in Silicon Valley, broadening my international perspective.” However, he noted that Hong Kong tends to focus more on certain leading industries such as fintech, with less support for education and other non-dominant sectors.

Taking a different path after graduation

With his company developing smoothly, Ivan, as a recent graduate, feels that the biggest difference is “taking a different path from his classmates.” He said, “Many of my classmates joined investment banks or consulting firms after graduation to earn good salaries and quickly advance in their careers. My achievement is finding my own path, doing what I love, and the most precious thing is having control over the entire project, witnessing its growth from scratch. The sense of accomplishment is indescribable.”

He is happiest when his product is well-received, a joy that money cannot compare to. He said, “Success to me is when a new tutoring center uses my product before it opens. Of course, the idea of becoming an industry leader someday is probably a success definition for every company.”

Four pieces of advice for young entrepreneurs

Ivan has four pieces of advice for startups. First, the entrepreneurial journey is about turning ideas on paper into real products that benefit users. Second, in the early stages of the company, there is a lack of networking, but don’t be afraid; gradually developing will naturally build a network. Third, when encountering difficulties, immediately seek advice from startup veterans. Fourth, ensure the company’s business can sustain itself as soon as possible. “To raise funds, plan early, such as applying for government grants. Moreover, from the approval process, you can already understand whether your idea is correct or needs improvement. Therefore, to test if the idea is feasible, seek recognition and startup funding. If the plan is approved, it proves the idea is feasible.”

The author is pleased to see that Hong Kong has allocated many resources in recent years to support young people like Ivan, helping them start their businesses despite a lack of funds. The author also hopes that the government will consider investing more resources in technology startups in non-dominant industries to diversify Hong Kong’s technological development and help traditional industries improve efficiency and services using new digital technologies.

Author: Cindy Chau Lok-mei

Cindy Chau Lok-mei has been the Executive Director of the Alibaba Hong Kong Entrepreneurs Fund since 2015. She joined Alibaba Group in 2007 and served as Senior Financial Director of Alibaba International, primarily responsible for financial management and corporate planning. The Alibaba Hong Kong Entrepreneurs Fund has created various programs dedicated to helping entrepreneurs and young people in Hong Kong realize their dreams in this vibrant city. Through this column, Cindy hopes to share different entrepreneurial stories and experiences, providing tips to help entrepreneurs understand the latest trends in the startup market.

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