The 121 conference for tech startups and investors is currently taking place in Hong Kong, with several Australian startups in attendance.
One of those tech startups is Cognitives, a startup which wants to make things easier for companies online.
The company’s founder Justin Cannon has been there to help grow his brand’s presence in Asia. He told Business Insider that for Australian startups, attracting investors based somewhere like Hong Kong can open up a whole new list of contacts and fast track an introduction into the much larger Asian market.
Cannon says that investors in Hong Kong are looking for a company with not only a competent and passionate team, but also a robust business plan.
“Events like 121 give investors the opportunity to meet with companies face to face and see the drive and passion startups have for their business first-hand,” he said.
With the entire Asian Pacific region, especially in Hong Kong and mainland China pushing to invest in the tech industry, Cannon says there’s lots of potential for Australian startups to get a piece of the pie.
“An increase in networking events like 121 gives Australian companies the opportunity to meet with a broad range of potential investor types to get a foot in the door,” Cannon said.
The types of companies Asian investors are looking for can range anywhere from health tech to retail tech and big social media-based companies.
Cannon says that:
“Almost all new tech companies are in some way trying to tap into the opportunities presented by digital communities and social media, which can not only create hype and interest but help to personalise products and create lasting client relationships and brand ambassadors.”
Companies that do this well are big hits with Asian investors.