17 November 2009

Cyberport Venture Capital Forum 2009

Significant source of initial funding for creative start-ups
Angel investors help entrepreneurs get their business off the ground

(17 November 2009, Hong Kong) – More than 300 investors, entrepreneurs and professionals from the ICT, digital media and creative industries attended the Cyberport Venture Capital Forum (“CVCF”) 2009 today, learning great experiences and insights from a line-up of brilliant angel investors and entrepreneurs, who have started creative businesses.

Renowned speakers from investor communities and creative start-ups in the Silicon Valley, Mainland China and Hong Kong were invited to share with the participants a forum of “Finding Perfect Angels: Early Stage Investors Backing Creative Start-ups”. The forum was officiated by Mr. Duncan Pescod, JP, Permanent Secretary for Commerce and Economic Development (Communications and Technology) of the HKSAR Government.

“Angel investors are risk-seeking people who are always looking for an early stage investment opportunity to make phenomenal return. In addition to just money, the angel investors often help the entrepreneurs to launch their business by offering their expertise, experience and contacts network,” said Mr. Nicholas Yang, Chief Executive Officer of Hong Kong Cyberport Management Company Limited.

“Cyberport Venture Capital Forum is honored by the great line-up of angel investors and entrepreneurs, who are here today to share their creative insights and experiences with the audience. We will learn how angel investors and entrepreneurs work together to develop and build creative companies that can succeed and thrive, even in difficult times,” he added.

Working in Silicon Valley for over twenty years as entrepreneur, start-up advisor and angel investor, CVCF keynote speaker Mr. Dave McClure from Founders Fund said, “The Cyberport Venture Capital Forum is an excellent platform to discuss and discover the best ideas from start-up investors and entrepreneurs in Hong Kong and around the world. I'm excited to share my own experiences as an angel investor and venture capitalist in Silicon Valley, and present the latest thinking and methods on start-up investment and technology incubation.”

Another keynote is Mr. Aydin Senkut from Felicis Ventures, who was Google’s first Product Manager and who has been an active angel investor since 2005. He said, “For today’s start-up business seeking funding, angel investors often provide the first outside funding which is so important for them. Global successes such as Facebook, Google, and Yahoo received their first funding from angel investors. With less onerous due diligence requirements, quicker turn-around, domain expertise and higher risk tolerance, angel investors constitute an essential part of the start-up ecosystem. Taking time to carefully develop a proper and constructive relationship with an angel is the most critical step in the process.”

Cyberport has hosted CVCF for six consecutive years. With Create Hong Kong of the HKSAR Government as the key sponsor, CVCF 2009 was co-organised by Hong Kong Venture Capital and Private Equity Association, Monte Jade Science and Technology Association of Hong Kong, and The Chinese University of Hong Kong - Center for Entrepreneurship and the Faculty of Business Administration. The forum is also supported by 40 other local industry associations, educational institutions and semi-government organisations.

About Cyberport

Cyberport is a US$2 billion (HK$15.8 billion) landmark project managed by Hong Kong Cyberport Management Company Limited, and wholly owned by the Hong Kong SAR Government. Cyberport specialises in enterprise and professional development, commercialises creative ideas and incubates start-ups. We have an energetic cluster of creative ICT and digital content tenants who enjoy synergies from co-locating with each other, and we are Hong Kong’s unique Creative Digital Community. Interconnected by state-of-the-art Broadband network, the Cyberport community is home to four grade-A intelligent office buildings, a five-star design hotel, a retail and entertainment complex and about 2,800 residences.

For more information, please visit http://cvcf.cyberport.asia or contact: