Forming the start-up ecosystem – Part 1

At the end of August, excited young people were gathering in co-working space CoCoon for the Pitch Night Finals, probably the largest crowd ever since the start of the programme in late 2012.

Early arrivals took their seats at the presentation stage, while those networking at the back had to resort to watching events on a screen, as well over 150 people got together.

Pitch Night is one of the community-building endeavours set up by CoCoon founders Maximilian and Theodore Ma. It offers start-ups a chance to present their business ideas and see the reaction or validation of the projects by their co-workers. The top three start-ups in each series can win a prize of up to HK$20,000.

“Seventy eight companies have participated in the 19 consecutive monthly pitch nights. All five pitch champions are still working on their start-ups. We have an audience of 100 to 150 people each time,” Theodore Ma says.

The organisers also invite investors, who listen to the pitches and may decide to invest if they like what they hear – so far over HK$18 million has been raised by Pitch Night participants.

Another regular programme, the Freelance Meet-up, helps pair start-ups with freelancers. These freelancers include some start-ups who need work with other start-ups.

“Our community defines us. CoCoon has transformed into a vibrant community of entrepreneurs, who gather to learn and support each other. Co-working is just one of the services our members find useful, but then it’s the community and the talent pool we have here that attract more like-minded people,” Ma says.