Hi, I am Florian, the guy behind Desperate Founder.In 2016, I co-founded Datacrag – a 11 person AI startup that was incubated at the Hong Kong Science Park.
A lot of founders are getting frustrated due to the excessively complicated administrative procedures required by the Government, as well as the lack of transparency in the banking system and the investment scene. I wrote the articles on this site based on my own experience and thorough research using official documents. All resources can be downloaded for free and reused without restrictions.
Are You Feeling Overwhelmed!?I know what it is like to feel overwhelmed by the many tasks required to build a company. It is difficult to know where to start on and which efforts are worthwhile. The Government and other Hong Kong institutions release vast amounts of information on their websites. It is easy to feel confused by the number of details provided, mostly irrelevant for startups. At the same time, you don’t want to miss anything important. You are not alone. There are thousands of founders who also feel overwhelmed.
Learn from my MistakesIt wasn’t long ago that I worked as a senior management consultant at a supply chain consulting firm, eager to create my own company. I looked into the Hong Kong startup ecosystem – which had been thriving since 2013 – and was intrigued to see that places like the Science Park and Cyberport already existed and that multiple funding options were available. After we decided to incorporate Datacrag, my co-founders and I wasted a considerable amount of time and money on mistakes that could have been avoided easily. The main problems were that we:
- Didn’t take the time to have the legal bases covered properly.
- Didn’t fully understand the scope of our obligations as directors.
- Couldn’t find enough material and insights on critical procedures.
- Attended too many events before focusing on the ones that were in line with our strategy.
- Struggled to find talented R&D resources.