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JUMPSTART
JUMPSTART
“...we take pride in being part of a small team that is
building something for Hong Kong.”
Myflat.hk is available via mobile,
tablet or PC. There are 17.1 million
mobile service subscribers in
Hong Kong, representing a 237%
penetration rate (source: OFCA 2013).
There is also an 83% household
broadband penetration rate (source:
OFCA 2013), which means that Hong
Kong is a highly connected society.
Given that most residential buildings
contain hundreds of units, it is quite
a statement that people on average
know only about 3 neighbors*, and
this is something Myflat.hk wants to
improve. (*We conducted a Facebook
survey recently.)
WHAT ABOUT SAFETY?
Myflat.hk verifies the identity of our
users by requiring all users to register
with their addresses. We understand
that this may be a concern for some
people but this is necessary for us to
ensure that we are granting access
to people who actually live in the
neighborhood they say they live
in.
Most social networks only require
you to register using an email
address but this means that anyone
can register from anywhere. The
key point about a neighborhood
social network is that it is a network
of actual neighbors and, as such,
it is fundamental that our process
integrates a verification process to
confirm the identity of our users. We
value the trust of our users, which
means they have to be able to trust
the integrity of the network.
The requirement of a user’s
address is a one-off request to set up
the user account. The address details
will not be displayed to other users on
Myflat.hk nor will they be shared with
third-party vendors or advertisers.
Myflat.hk places a high priority on
data security and protection. From a
technical perspective, the site is built
with SSL 256-bit encryption to ensure
we safeguard our clients’ information.
IS THERE ANYTHING SIMILAR
IN HONG KONG? WHAT’S YOUR
GREATEST COMPETITION?
Currently, we are not aware of
another neighborhood social network
in Hong Kong. However, there are a
few estate blog sites and Facebook
district groups that exist, but these
usually do not verify the addresses of
their users which means that anyone
can join. While the blog sites and
Facebook groups do represent some
competition for Myflat.hk, we also
view them as positive confirmation
that there is demand and interest
from Hong Kong residents to have a
communication platform connecting
them with their local community.
And this is where Myflat.hk is wellpositioned to offer this service for
neighborhoods across Hong Kong.
HOW WILL YOU GET A CRITICAL
MASS OF USERS?
We are a startup so we do not have
a large budget for marketing and
advertising. To date, we have been
utilizing social media to increase
the awareness of Myflat.hk on
Facebook, Google, YouTube, Twitter
and Instagram. We have been joining
startup events in Hong Kong, plus
we have plans to contact various
publications to generate media
coverage. Furthermore, we will
reach out to property management
companies for partnership
opportunities, as we also see
Myflat.hk as a platform that can
better connect residents with their
property management companies
and vice versa.
ARE YOU WORKING OUT OF A
COWORKING SPACE?
INTERVIEW WITH
No, we are renting a small office
space in Kwun Tong.
VICKI MALONE
TELL US ABOUT THE EXPERIENCE OF
BUILDING THIS APPLICATION.
TELL US ABOUT YOUR BUSINESS!
One way to describe the experience
of building this application is that it
has been filled with ups and downs,
and we know this is not unique to
our startup. To build something from
scratch is exciting but the execution
requires long-term commitment.
When there are wins, we take pride
in being part of a small team that is
building something for Hong Kong.
When there are setbacks, we try not
to dwell on them and instead just
move to the next milestones.
In the beginning, one of the
challenges was to grow the IT
team with the right resources. As a
startup with a small team, there is
greater emphasis on collaboration
so hiring the right people has
always been paramount. With some
luck and patience, we now have a
solid IT team that is committed to
developing Myflat.hk’s platform and
features.
Myflat.hk has already launched
and we are continually working
on further development and on
increased market exposure. Each
phase has brought challenges and
rewards, but all of us (especially
those from previous corporate
backgrounds) would agree that the
challenges are learning opportunities
and the rewards are more personal.
Overall, the experience has been
positive for all of us.
WHAT IS YOUR GREATEST
CHALLENGE AT THE MOMENT?
I think we are going through what
many startups experience: different
challenges for different phases.
Currently, we are fundraising plus trying
to grow our registered user base.
FOUNDER OF VIC & LILY
After years of buying vintage items for
myself and friends, I decided to try out
selling the pieces I found on Etsy.com as it
seemed like the ideal platform for such a
venture. I was excited to share what I was
able to find with others.
After a year, what started off as a small
part of my life has grown into something
I spend more and more of my time on. It
has always been a dream to have my own
business and now it is a reality.
My favorite part of the business is
searching for the pieces for my shop as
well as upcycling pieces which have hidden
potential. I also like selling pieces to lovely
people around the world, and being my
own boss!
IS ‘UPCYCLING’ A NEW CONCEPT IN