The Founder Institute, the Silicon Valley-originated entrepreneur training and startup launch program, is coming to Hong Kong!
In addition to General Assembly and Paperclip’s Academy, the Founder Institute is a welcome addition to Hong Kong’s startup educational resources. Through a rigorous four-month program, Founder Institute helps new entrepreneurs “learn by doing” with structured training, expert feedback and support from experienced startup CEOs. And they can do all this without quitting their day jobs.
Some names from the dedicated mentor list include Simon Newstead of Frenzoo, Yat Siu of Outblaze and Joanne Ooi of Plukka. Those interested in applying for the Spring 2014 semester (starting early June) should do so before May 25th but early bird applicants (before May 4th) can be eligible for a variety of scholarships.
Leading the chapter launch is Hong Kong digital entrepreneur Cedric Delzenne. Before working with the Founder Institute, you may have known Cedric as the founder and owner of Shop Des Createurs, a curated e-boutique of independent designers and shops.
As he had passed on the reigns to his co-directors back in October of 2013, Cedric told us that he decided to exit his very first startup after a second round of funding – as he felt it was the right time to move on.
When he first moved to 2010 to start the Shop, Cedric was a first-time founder in a relatively untapped online space. What was his experience like, what mistakes did he make and what advice does he have for entrepreneurs going it alone?
“It was an amazing experience. I learned a lot of lessons during it: how to structure your business, how time is definitely not on your side and how much effort it is to get funding – even for a relatively small amount,” recalls Cedric. “The online fashion space is super competitive. Even though we had limited competition in the beginning, you really need to stand out with either a great value proposition or a lot of cash.”
As he decided to start the Shop on his own, Cedric says that while he chose not to have a co-founder, not having a dedicated partner with a shared vision from the get go was difficult. “I went it alone for six months, and it wasn’t easy because entrepreneurship is a difficult journey,” he remembers. “You need to be ready to sacrifice on the financial side for quite some time. The hardest part is to find people that are ready to embark on the same journey as you.” Cedric advises solo-preneurs who are seeking funding to find a co-founder, because a solid team is something investors will find more attractive than a lone founder.
As another valuable piece of advice, Cedric stresses that any solo-preneurs looking to build a web platform to get in-house technical expertise. “If you are in the online space, find a tech partner. I started on my own and relied on agencies and freelancers – and ended up wasting a lot of time just to get what I wanted delivered on time,” he said. “As a founder, you have so many things to deal with and it all requires different skill sets – you need to have the best of the best around you.”
Having moved onto working with Founder Institute, Cedric plans on using his experiences to help new entrepreneurs.
Apply for the Founder Institute program here!
Cedric Delzenne on Startbase.HK: Cedric Delzenne
The Founder Institute on Startbase.HK: The Founder Institute
