There are a number of active players that make up the backbone of Hong Kong’s startup ecosystem, offering up their time and money in support of new and existing entrepreneurs.
In a series of profiles where we interview these Hong Kong-based movers and shakers, we’re starting with Tytus Michalski – managing director of Fresco Capital Advisors, veteran entrepreneur, angel investor and startup mentor.
With roots in Canada, Tytus eventually made his way to Hong Kong in 2000 after working in London, Tokyo and Singapore. As one of the founding members of PMA Investment Advisors, which was acquired in 2006 for over US $200M, Tytus wanted to find ways to help other Hong Kong startups achieve similar success.
“Once that kind of entrepreneurial experience gets in the blood, it’s hard to do anything else,” he said. “I came to the conclusion that the biggest impact I could have would be as an angel investor… a lot of my time is spent supporting the startup ecosystem in general because simply investing money is not enough.”
Along with mentoring entrepreneurial groups including TiE Hong Kong, AcceleratorHK and Sow Asia, just to name a few, Tytus has also invested in a number of Hong Kong startups including Snaptee, Frenzoo and Insight Robotics and his passion for supporting entrepreneurs is palpable. “People are the most important; they are the foundations of startups and we have supported fantastic teams,” he said. “It’s rewarding to see them grow personally as they build the business… as investors, we look at financial returns but we can never forget that returns are simply the outcome of people building value.”
Having spent over a decade in Hong Kong, Tytus remembers the fledgling startup scene as it started building momentum just three short years ago – and he says that the sweet spot for Hong Kong is its unique intersection of technology with the real world. Since the ecosystem is still young, Tytus says that Hong Kong’s startup scene has years to go as it matures through education and learning. “Anyone involved in building a startup ecosystem needs to have a 20 year time horizon because 5 years is too short for something so strategic,” he said.
For startups looking to raise funds for their first venture, Tytus advises entrepreneurs to talk to founders who have successfully funded their startups to get an accurate lay of the land. “Experienced entrepreneurs can give you frank feedback about how investors will view your startup, whether you are ready for fundraising and which investors could be the best match for you,” said Tytus. “I’ve been on both sides of the fundraising table and can appreciate the challenges – but it is all part of the learning curve.”
Tytus Michalski on Startbase.HK: Tytus Michalski
Fresco Capital Advisors on Startbase.HK: Fresco Capital Advisors
