HSBC Partners AllBright in Supporting Female Entrepreneurs
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While pitching for investment as a founder is difficult, it can be even more challenging for female entrepreneurs. According to the ‘She’s the Business’ – a report commissioned by HSBC Private Banking that highlights the challenges female entrepreneurs face – preparing a business plan and dealing with further presentations and negotiations with investors are the two most challenging stages in the pitching process.
To inspire change and support female entrepreneurs in overcoming challenges during the investment process, HSBC Private Banking has partnered with AllBright. A first for both parties in Hong Kong, this week a ‘pop-up’ was hosted, including pitch courses, investor workshops and a Pitch Day, following success with similar events in the UK and US over the last two years. The pop-up workshops drew on the Bank and AllBright’s combined commitment and expertise to providing female entrepreneurs with the opportunities and resources needed to grow their businesses.
The event focused on helping, coaching and mentoring female entrepreneurs, providing them with a wealth of experience, expert advice and access to HSBC’s extensive global connections, including experienced investors. The event featured seven ambitious female entrepreneurs who have founded and headquartered their respective companies in Hong Kong. They pitched their business to experienced angel investors, high-net-worth individuals and business leaders.
Siew Meng Tan, Regional Head, HSBC Private Banking, Asia Pacific, said, “We are proud to work with AllBright to bring the Pitch Day Series to Hong Kong. The highly competitive entrepreneurial environment in Hong Kong has produced many successful female entrepreneurs. We believe the event has helped strengthen confidence in the female entrepreneur community, and represents a move in the right direction for the industry and investment landscape in Hong Kong.
“They pitched their business to experienced angel investors, high-net-worth individuals and business leaders.”
HSBC Private Banking, also a founding partner of The WealthiHer Network, takes an active role in understanding the barriers preventing female entrepreneurs from reaching their full potential. The ‘She’s the Business’ survey revealed that while Hong Kong has the highest proportion of gender balanced investor panels compared to other markets at 81% of all panels, 31% of female entrepreneurs in Hong Kong said they have experienced gender bias when securing capital. Furthermore, they face one of the longest processes for raising capital, averaging 9.7 months. By identifying challenges faced by female entrepreneurs, HSBC Private Banking is committed to providing them with the opportunities and resources they need to grow their business.
Debbie Wosskow OBE, Co-Founder, AllBright, said, “We are delighted to be partnering with HSBC Private Banking. They bring a wealth of business knowledge, global connections and decades of experience to AllBright’s Pitch Days – helping to achieve our joint ambition of supporting female entrepreneurs.”
Siew Meng Tan, Regional Head of HSBC Private Banking, Asia Pacific (right) introduces the AllBright x HSBC Private Banking partnership and HSBC Private Banking’s commitment to female founders.
In her opening remarks, Debbie Wosskow OBE, Co-founder, AllBright, welcomes guests to Hong Kong’s first AllBright x HSBC Private Banking Pitch Day and highlights how female founders will benefit from the AllBright x HSBC Private Banking ‘pop-up’ week.
Dervla Louli Musgrave, Founder of Compare Retreats, presents her pitch in front of the panel and a room of experienced angel investors, high-net-worth individuals and business leaders.
Questions & Answers
Q.What specific challenges do female entrepreneurs face when seeking investment, according to the HSBC report?
What specific challenges do female entrepreneurs face when seeking investment, according to the HSBC report?
The 'She’s the Business' report highlights that preparing a business plan and handling further presentations and negotiations with investors are the two most challenging stages for female entrepreneurs in the pitching process.
Q.Where else have HSBC and AllBright held similar events before bringing this initiative to Hong Kong?
Where else have HSBC and AllBright held similar events before bringing this initiative to Hong Kong?
Similar successful events have been held in the UK and the US over the last two years. The Hong Kong pop-up marks a first for both parties in that region.
Q.What is the average duration for female entrepreneurs in Hong Kong to raise capital?
What is the average duration for female entrepreneurs in Hong Kong to raise capital?
Female entrepreneurs in Hong Kong face one of the longest processes for raising capital, which averages 9.7 months. This is despite Hong Kong having a high proportion of gender-balanced investor panels.