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Why Hong Kong? Expanding your business to Asia

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Challenges

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No Walmart

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No Amazon

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No Costco

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Education System $25K/yr for private school

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Summers = Hot & Humid

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Timezones NYC is 12-13 hours different

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Did I mention there’s no Amazon?

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But it’s all manageable.

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“Those who have a 'why' to live, can bear with almost any ‘how'.”

— Viktor Frankl

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Why live in Hong Kong?

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First, why Asia at all?

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Massive potential, that’s why.

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4.3 Billion Asia Population, 2013

Source: http://www.worldpopulationstatistics.com/asia-population-2013/

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4.9 Billion Asia Population, 2030

Source: http://en.wikipedia.org/wiki/World_population

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525 Million Asia Middle Class, 2013

Source: http://www.ey.com/GL/en/Newsroom/News-releases/News_By-2030-two-thirds-of-global-middle-class-will-be-in-Asia-Pacific

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3.1 Billion Asia Middle Class, 2030

Source: http://www.ey.com/GL/en/Newsroom/News-releases/News_By-2030-two-thirds-of-global-middle-class-will-be-in-Asia-Pacific

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9.4% Asia-Pacific Internet Penetration, 2005

Source: http://www.itu.int/en/ITU-D/Statistics/Pages/stat/default.aspx

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38.8% Asia-Pacific Internet Penetration, 2015

Source: http://www.internetworldstats.com/stats3.htm

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344 Million Asia-Pacific Internet Users, 2005

Sources: Internet Telecommunications Union http://www.itu.int/en/ITU-D/Statistics/Pages/stat/default.aspx, We Are Social SG http://wearesocial.net/blog/2013/03/state-social-asia-march-2013/

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1.56 Billion Asia-Pacific Internet Users, 2015

Source: http://www.internetworldstats.com/stats3.htm

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0 Asia-Pacific Mobile Internet Users, 2005

Sources: Internet Telecommunications Union http://www.itu.int/en/ITU-D/Statistics/Pages/stat/default.aspx, We Are Social SG http://wearesocial.net/blog/2013/03/state-social-asia-march-2013/

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1.02 Billion Asia-Pacific Mobile Internet Users, 2015

Source: http://www.emarketer.com/Article/Asia-Pacific-Boasts-More-Than-1-Billion-Smartphone-Users/1012984

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So Why Hong Kong?

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Location 1/2 world population within 5 hr flight.

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Shenzhen 1 hr away Hong Kong uniquely positioned for IoT, hardware startups.

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Incorporation Done in 1 hour.

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Startup Support Vibrant, friendly community, helpful government (most of the

time).

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83.48 years Highest life expectancy worldwide

Source: World Bank, Last updated: May 7, 2014

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Safety You won’t be mugged, but be careful jaywalking.

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2nd Fastest Internet Avg Mbps: 16.8. Internet speeds have increased 37% over the last year.

Source: Akamai State of the Internet Report, Q4, 2014

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Legal to Kill Husband

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Legal to Kill Husband If he’s cheating, and wife uses bare hands.

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What is Hong Kong?

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266 islands

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Hong Kong SAR (Special Administrative Region; One Country, Two Systems)

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< 25% land developed Lots of green space.

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Pop. 7.15 million

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Starting a Business in Hong Kong

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Immigration Typically 2-3 month wait. Startup visa available.

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Office Space Most startups use cowork spaces.

Garage Society

Blueprint

The Hive

Paperclip

WYND

CoCoon

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Banking Can be a pain, just like everywhere else.

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Seed Capital Plentiful angel investors, accelerators, pitch events.

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Venture Capital Improving all the time.

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Living in Hong Kong

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July Wettest month

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Healthcare Socialized (“free”) but for more serious issues you’ll probably may want to pay for a private hospital.

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Cost of Living? Expensive, but manageable.

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Language English and Cantonese both official languages.

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Transportation Best subway in the world, super cheap and plentiful taxis.

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Outdoor lifestyle Hiking, trail running, swimming, camping, boating, fishing, etc.

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Questions? Twitter: @joshsteimle Blog: joshsteimle.com