Avnet accelerates growth of Asia-Pacific tech startup community

Frederick Fu (right), president of Avnet Asia Pacific, presenting the cash prize to the EPiC Champion

Frederick Fu, Avnet’s Asia Pacific president, had the privilege to be one of the judges to evaluate innovative pitches by 100 startups in a 60-second elevator ride up the International Commerce Centre, hosted by Hong Kong Science and Technology Parks Corporation (HKSTP).

At the Angel x Angel Conference, Frederick was joined by a venture capitalist and financial investor to share insights and advice on the necessary support and the critical fundaments for early stage tech companies to overcome their challenges and grow into successful businesses.

Frederick Fu said, “The startup community is not afraid to reinvent the wheel to bring in a new wave of innovation and trends. But they are often challenged by a lack of resources and financial support in getting their products to market. At Avnet, we have invested resources for makers to develop a connected ecosystem to help startups become the next unicorn. Avnet has a large customer base of startups, which we have guided and supported at every stage of their product lifecycle to turn their designs into products.”

“The government of Hong Kong and organisations, such as HKSTP, actively promote the development of startups. With Avnet’s expertise and capabilities, together with partners like HKSTP, we nurture entrepreneurs and technopreneurs. Avnet is committed and will support Hong Kong in becoming one of the world’s top startup cities,” he added.

According to Albert Wong, CEO of Hong Kong Science and Technology Parks Corporation, the challenges faced by technology startups have become more complex over time. Apart from technological innovation, they need to develop a viable business model to support their sustainable growth.

As a leading institution that takes innovation and technology advancement to heart, HKSTP will continue to collaborate with various stakeholders like Avnet to create a favourite and vibrant ecosystem for startups to turn their ideas into reality. EPiC, supported by Avnet, is a great testimonial of the joint determination to help startups thrive and grow.

From providing a community platform to the know-how, Avnet’s design and supply capabilities, coupled with its global line card presence, bring prototypes to volume production. The addition of Premier Farnell (including its element 14 community) and Hackster.io last year expanded Avnet’s reach to an active community of more than 750,000 entrepreneurs, makers, and engineers worldwide, and broadened its portfolio of design tools and technical solutions as well as 24/7 e-commerce expertise.

Through its Dragon Innovation business, it is simplifying the manufacturing process—helping customers understand manufacturing costs and schedules, find factories, and manage production as they scale their businesses, particularly in projects advancing the IoT. These initiatives are all underpinned by Avnet’s electronic components and design and supply chain capabilities encompassing the entire cycle from idea to finished product.

More recently, Avnet and Dragon Innovation partnered up with Kickstarter to launch Hardware Studio, which helps hardware creators plan ahead for manufacturing before they launch on Kickstarter.

From idea to design and from prototype to production, Avnet supports customers at each stage of a product’s lifecycle. A comprehensive portfolio of design and supply chain services makes Avnet the go-to guide for innovators who set the pace for technological change. For nearly a century, Avnet has helped its customers and suppliers around the world realise the transformative possibilities of technology.