by Catherine Shu, Ask Hong Kong startup founders about the challenges facing their ecosystem and you are likely to hear one answer over and over again: the lack of funding opportunities. Because Hong Kong’s startup industry is so new, companies are still seen as risky investments and many high-worth individuals turn to the property and banking sectors instead. But there is an increasing amount of interest in tech startups and several platforms have stepped up to help connect companies with potential investors.
These include Bigcolors, which TechCrunch covered in January, which allows investors to trade in startups before they launch. 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.