What opportunities were brought about after winning the StartUp Macau Forum?
The most important thing that brought to us was the people who also participated in the StartUp Macau Forum. We became friends with some of them, potentially collaborating together to start some new ventures.
What advantages did the Web Summit in Portugal bring about for your business and in what areas?
I would say we learned a lot at the Web Summit in Portugal and we met a lot of friends and networked. We saw a lot of world-class, top-notch innovators as well as investors. It was a great experience to learn.
Will you continue using Kickstarter campaigns for future products?
Yes, definitely. I would say Kickstarter is one of the best ways for us. It reaches people who believe in innovation and reward truly innovative creators.
How much was made in the initial Kickstarter fund and how in line was that with your expectations?
We didn’t make a lot of pure profit from the first Kickstarter campaign because a lot was invested in research and development; there are many costs that we had to bear but it was a great way to test the water.
What do you see as your primary markets for your products?
We focus a lot on the Asian market; online is definitely the way to go for us to reach early adopters.
Are you considering launching other, non-watch products under the same brand?
We will launch more products later, when we are great at making watches. We love accessories that we would be able to use ourselves such as sunglasses, belts, or anything that we think is cool.
Do you think the entrepreneur5a3 environment in Macau is healthy?
The entrepreneur5a3 environment is very healthy in Macau despite the fact that there’s a small population – but I feel like there are many potential investors in Macau.
What conditions would make your job as entrepreneurs easier within the MSAR?
I would say it is the government support that makes it easier for start-up entrepreneurs to survive.
What is the story behind your products, how did you get started and where do you want to go?
We wanted to create something cool, something meaningful, something we will forever be remembered for. Watches are something very meaningful, especially the watch we designed. It has a signature time-coffin shaped watchcase, once time has passed, it will be forever gone. Treasure what you have at the moment and never waste time. We definitely want to send this message to anyone who wears our watches. There’s always meaning behind our products.
Do you think that entrepreneurs from Macau will find more success here or further abroad?
Overall, entrepreneurs in Macau lack vision; they lack the broader picture. There are many investors who would invest but entrepreneurs need to be true visionaries to seek the opportunity.
Which countries in particular are you focusing on?
We focus a lot on Hong Kong and Singapore and, of course, Macau. These three places in Asia are particularly wealthy/high in GDP per capita. We want to focus on wealthy people who can spend money on luxury goods, as well as the early adopters who don’t simply want a mainstream product on their wrists.
How did you go about finding investors for the project?
We find investors through our network; we need to be able to show investors what we are capable of, and gain their trust.
Have you taken advantage of any of the young entrepreneur or SME funds made available by the government?
We have applied for some funding for exhibiting our booths in Macau.
What other areas would you like to explore in business?
We will be having our own physical shops in Macau soon. That would be something new, and a risk for us to take.
How much time do you currently spend in Macau?
We spend 40 per cent of the time in Macau, 40 per cent in Hong Kong, and the rest in other countries.
How many total products do you plan to offer and how do you avoid stretching yourself too thin?
We’ll have a total of 20 SKU [units] by the end of this year, and we will keep producing more and more.
Where do you source the components of your products from and where are they assembled?
The components are from China, and they are all assembled in China.
What tax advantages do you enjoy by operating from Macau?
The low corporation tax rate is definitely the best, compared to the 17 per cent taxed in Hong Kong. So, we love it – and we have no complaints at all!
