Lead: Listen to the stories of experts on the future of startups in Asia from InnoTech Forum 2019. 

Alex Yeung, Executive Director of Emperor Group

Isabel Fan, Regional Director of Tesla

Nicholas Tse, Ambassador of HKIEF and Founder of Chef Nic

Techsauce had the opportunity to take part in the InnoTech Forum: Innovation in Daily life, held at Harbour Grand Hong Kong. At InnoTech Forum 2019, Emperor Group Executive Director Alex Yeung, Tesla Regional Director Isabel Fan, and HKIEF Ambassador and Chef Nic Founder Nicholas Tse share their thoughts on the evolution of technology.

Changes in Technology

It might be hard that we have to concentrate on our past years, but truth is technology has been everchanging in our daily lives. - Nicholas Tse

Referencing to movies, Tse says in the past movies used to be shot in analog and a really cool action movie would be shot with a speed of 24 frames per second. Back in his day, each film costs about $2 for 1 frame. When watching a super high-speed frame, it is actually 500 – 1000 frames per second. If you do the math, it actually costs a lot of money. However the introduction of digital technology has changed how big magazines and films are produced. Projects can now be can be erased, reused, and are very portable and cheap.

Technology has changed my life in many stages. Technology is ever-changing.

 

Technology changes every day. Changing on a daily basis.  An example is Tesla.  Tesla is great, it has auto-pilot, it’s so smart, and it goes everywhere you need. Tesla inspired Alex Yeung and made him think of ways to expand his business, which is what Emperor Group is doing right now. Emperor Group is a multi-industry company. Currently, it is focusing on virtual reality.

 How could we expand our existing business?

 Alex: When you go into a karaoke bar, have you seen those karaoke boxes in China where it is a single box, that you can go in and sing your songs? Now, we are working towards adding VR boxes where you can go in, pay, put on your VR goggles and play a solo VR guitar hero gig.

I think we are given so much information today. We are actually learning every second, so we should not limit ourselves. I think we are in an era of infinite possibilities. I am still on Google and YouTube every day, and I ask many questions.

Changes in roles

It's impossible to multitask 5-10 things with equal effort.  Nicholas Tse insists that we look at what is up trending in the current world and if there is something you see that is a great opportunity or prospect, put more resources into it. Vice-versa, if something is not as important, decrease the time you spend on it.

 Under the big umbrella of entertainment, a lot of people ask me. “So what are you?  A chef? A musician? An actor?” I say I am all of them together because this era allows us to do so, and I think that's what everyone is asking for.

If you can find the synergy, you will have some resources to put into it.

There's also the paradox of choice, because there are so many opportunities right now, more opportunities than ever before. I think one talent that entrepreneurs in Hong Kong and around the world have is they have so many ideas.  However most of them are less inclined to act on them because they probably question if it works.

 Time Management & Synergy 

Time management is one of the key factors that startups need to prioritize in order to keep up with uptrends. Synergy is the most important part.  It is not just an action. 

How do you make the impossible, possible?

Isabel: We all have brilliant ideas on how to make a hammer. So the key is not to wait.  When I have an idea I talk to my colleagues and my friends to make sure we are capable of creating the product.  We have multiple teams, but we follow the method of having each team having one goal.  So at any moment or time, at any location, we have one single goal we strive for.  So for every quarter, we have one priority to set everyone on track.

What is your advice to the entrepreneurs in Hong Kong and how do you anticipate Hong Kong’s growth within the bigger grey area playing field?

Hong Kong is a great platform.  It’s a beacon city for many things. For my company, it’s a showcase. We have many talents in Hong Kong, and we take this market very seriously. Over the years, Hong Kong has focused and prioritized on regional startups.  We should now play a bigger role, which is why we are having this conversation today.

My advice to everyone is I do think Hong Kong serves a very special role that right now is even greater.  Traditionally we are aware of western needs for a great infrastructure, legal system, and jump force for companies from China to formulate exporting. Hong Kong is always the first stop. I think this special has been here for a while and will be here in the future.

What is the biggest challenge in your life right now? Alternatively what keeps you awake at night when rolling out movies and expanding business?

The challenging part is we’re basically a start-up, and we want to do so many things, in such a limited amount of time.  I also end up doing music and films.  So we do not have many people.  We therefore end up playing more than 5-6 roles.  You have to be honest to yourself because if you are not doing something you like or love, you will not be able to bear failures or problems because you face them every day. I don’t mind doing what I do because I love it and I believe in it so much. So if not everyone is fully committed and on board, it is going to fall apart. It is just how it works.  It is very important to make sure everyone is on board.  It will benefit your life.

Organizational Structure

When a company keeps changing staffs, it means you are trying to fix a problem.  When you’re trying fix something, something is wrong. Find the right partner and get them equally on board. It will work out eventually.  The world is changing so fast, every day, people are adapting. If it’s too easy, don’t do it.

Look and create your own problem that you want to solve, because if you are not solving something, your companies are not maximising the time. Because you’re doing something other people can do, then what makes your company different?

Investment is a big misunderstanding. Newcomers come to invest for 2 months or a maximum of 1 year and they say they want to give up.  Be honest with yourself, if you love it, you will endure it. When I want to do music, I am fully committed.  Whatever you do, you got to go all the way. When you start something, don’t stop it at the same point as why you started it.

 We can accept what happened in the past. The future is more important. There are problems that I want to fix, so work on the problem you want to fix

Summary

Ultimately, the future lies in our potential and capabilities.With more new startups and enterprises focusing on deep technology, technological advancement has become one of the top rising trends around the world. The future belongs to those who understand it.