Free simplified legal frameworks for Hong Kong startups
International law firm Bird & Bird recently launched the Seedsummit initiative in Hong Kong. Comprised in partnership with UK first round fund Seedcamp and Hong Kong entrepreneurial community blueprint by Swire Properties, Seedsummit Hong Kong is set to provide greater transparency in the Hong Kong startup ecosystem by providing local founders with simplified information they can utilise to educate them through their investment process. Raising funds and creating the necessary legal frameworks can often prove to become an overwhelming effort for a new entrepreneur due to the time, costs and ambiguity over the investment process. While investors know what to expect, most entrepreneurs go through this process only a few times in their career and experience challenges when faced with investor negotiations and legal agreements.
Over 20 companies and organisations so far have voiced support for the initiative, with notable endorsements from Outblaze, Animoca Brands, BraveSoldier Venture Capital, Zeroth A.I., Big Bloom, 43 Ventures, Fresco Capital, Rouge Partners, Founders Institute, Vectr Ventures, W-Hub, Startups HK, Firestartr, Brinc, Cocoon Ignite Ventures, AtVenture, Startup Garage, SXE Ventures, Hong Kong Science & Technology Park, actiMirror, Jobdoh, Talkpush and Jobable.
The Seedsummit website offers a set of Hong Kong’s specific suggested, reader-friendly and standard financing guideline documents, freely available to visitors of the site.
Seedsummit Hong Kong’s freely available documents can now be downloaded from www.seedsummit.org