AAPI Entrepreneurship: Empowering Stories of Resilience and Innovation →
Unveiling the Insights and Personal Perspective on the Transformative Power of AAPI Founders
I had the privilege of attending a remarkable event in New York City that paid tribute to the accomplishments of AAPI founders. As a staunch advocate for diverse voices in the business world and a passionate supporter of entrepreneurial endeavors, this gathering left an indelible mark on me. With a captivating lineup of speakers sharing their unique stories and insights, the event showcased the unwavering commitment, creativity, and resilience of these visionary founders. In this article, I will take you on an inspiring journey through the panel discussions, unraveling key takeaways, and weaving in my personal perspective on the transformative power of AAPI entrepreneurship.
Panel Discussion 1: Fintech
The first-panel discussion on fintech featured insightful remarks from Nelson Chu, the founder and CEO of Percent, Jean Smart, the CEO of Penelope, and Sourabh Gupta, the founder and CEO of Skit.ai. The speakers shared their experiences and offered valuable advice to fellow founders.
Nelson Chu emphasized the importance of having a supportive board of directors during challenging fundraising times. He acknowledged that the journey of raising funds can be tough, and having board members who believe in your vision and provide unwavering support is crucial. Chu also encouraged other founders to remain composed and level-headed throughout the process, emphasizing the significance of maintaining a balanced mindset.
Jean Smart, the CEO of Penelope, shared her unique perspective as a first-generation immigrant from Korea. Drawing from her own experience adapting to life in the United States, she highlighted the inspiration behind Penelope, a retirement savings platform aimed at assisting small businesses and entrepreneurs. Smart discussed the learning curves she faced as an immigrant, emphasizing the importance of embracing the lessons that come with the fundraising process.
Smart advised fundraising founders to showcase their go-to-market evidence to potential investors. She compared finding the right investor to a successful marriage, stressing the significance of finding an investor who aligns with the founder’s vision and values. Smart also spoke about her positive experience with CHIEF, a women’s group that raised $100 million in Series B funding. Through CHIEF, she found support and guidance from other founders and industry experts, underscoring the importance of surrounding oneself with individuals at various stages of their entrepreneurial journey.
In conclusion, the panelists unanimously agreed that founders must actively engage with others and build relationships. These connections can prove invaluable when it comes to fundraising, as they have the potential to vouch for the founder’s credibility and capabilities. By nurturing relationships and seeking advice and support from peers and industry experts, founders can enhance their chances of success in the fundraising process.
Panel Discussion 1: Carina Oriel, Rise by Barclays, Nelson Chu, founder & CEO of PErcent, Jean Smart, CEO of Penelope, Sourabh Gupta, founder & CEO of Skit.ai
My Inspirational Perspective
Jean Smart, whom I had the privilege of working with in my previous role, left a lasting impression on me. Her sharpness, directness, and willingness to share her opinions always stood out. During the AAPI month, I had the opportunity to meet her in person and delve deeper into her company’s growth, direction, and her involvement with CHIEF. As an immigrant myself, I resonated with the mission of Penelope.
In my home country, we have a national pension fund where everyone is enrolled without a choice. The government manages the fund, leaving individuals with limited control over their retirement savings. Contrasting that with the United States, where individuals manage their 401(k) retirement funds, and small business owners have the responsibility of selecting the best plan for their employees and their company, I truly appreciate the significance of Penelope’s existence.
Witnessing the progress of immigrants like Jean, who not only succeed but also give back and support others, fills me with pride. Seeing the positive impact she has made with Penelope reinforces my belief in the power of entrepreneurship and the potential for immigrant-led initiatives to create meaningful change.
Panel Discussion 2: Food Tech
The second-panel discussion featured Kevin Wong, the co-founder of Lunar, an award-winning craft hard seltzer made with real fruit sourced from Asia, and Hannah Bae, the founder of Noona’s ice cream. Both founders shared their journeys and insights as they ventured into the world of food and beverage entrepreneurship.
Kevin Wong, a Taiwanese American, addressed the misconception that Lunar was exclusively an Asian drink. He discussed the challenges he faced in proving to investors that Lunar had the potential to expand into a broader market. Wong recounted a story where he tirelessly walked the streets of Manhattan, approaching restaurants and urging them to include Lunar in their offerings. Through his perseverance and determination, he successfully demonstrated that Lunar appealed to customers of various ethnicities, dispelling the notion that it was limited to a specific demographic.
Hannah Bae, a Korean American and the founder of Noona’s ice cream, shared her motivation for starting her own line of ice cream flavors. Recognizing the lack of diverse ice cream options representing various cultures, Bae embarked on a mission to create flavors that made a more significant cultural impact. She specifically focused on developing Asian American flavors, leveraging her skills and passion for the culinary arts.
Bae also emphasized the importance of quality and genuine ingredients in ice cream production. Instead of relying on artificial flavorings, she dedicated herself to learning about ingredient sourcing and building relationships with farmers. By prioritizing real food and sustainable practices, Bae sought to elevate the ice cream experience for her customers and championed the values of authenticity and transparency.
The stories shared by Kevin Wong and Hannah Bae exemplify the determination and innovation found within the tech founder community. Both founders ventured beyond stereotypes and preconceptions, challenging the status quo in their respective industries. By embracing cultural diversity and pursuing excellence in their craft, they have not only created successful businesses but also paved the way for more inclusive and authentic experiences in the food and beverage market.
My Inspirational Perspective
I was truly inspired by Hannah Bae’s journey with Noona’s ice cream, particularly because she has built a solid foundation without relying on external investors. As a community builder myself, I understand the challenges faced by B2C companies and the multitude of factors that influence customer preferences. It takes continuous effort to stay relevant and captivating in order to retain a loyal customer base. I deeply admire Hannah’s courage in inventing new ice cream flavor combinations that incorporate Asian tastes while building a devoted following for Noona’s ice cream. It is a testament to sustainable growth and speaks volumes about her entrepreneurial spirit.
Furthermore, being present at this event and listening to AAPI founders share their founding stories fills me with immense pride. As immigrants, they exemplify courage and fearlessness in the face of traditional expectations of a disciplined career path. Not only have they proven to their families that their companies are thriving, but they have also shattered the misconception that their products are limited to Asian populations. They have successfully expanded their markets to reach a broader audience, and I wholeheartedly wish them continued success in their expansion efforts.
During my journey as a community builder, I had the pleasure of meeting Kevin Wong through a Taiwanese American Professional entrepreneur networking event. Kevin is not only a passionate founder but also a generous individual who actively connects founders in the New York metro area. It was a pleasant surprise to encounter him again at a startup community event in Taiwan. His commitment to building communities and fostering connections is truly commendable. In fact, when I started NATEA (North American Taiwanese Engineering & Sciences Association)’s NYC event, Kevin assisted me in finding a venue, showcasing his willingness to support fellow entrepreneurs.
Moreover, Kevin’s expertise in branding is eye-catching. He employed a smart marketing move by bringing his beer, Lunar, on stage during today’s event (see photo below), ensuring continuous exposure for his brand. Every time his drink was seen, the name Lunar resonated, leaving a lasting impression. His branding strategy serves as a valuable lesson in presenting oneself and the brand in a compelling way while forging a sense of belonging and engagement within a community.
Furthermore, Kevin’s advice on representation, branding, and community building deeply resonated with me. Through my personal experience with him, I witnessed firsthand how he embodies these principles. He understands the importance of authentic representation, not only for his brand but also for the diverse communities he serves. His dedication to community building extends beyond networking events, as he actively fosters meaningful connections and support among founders in the New York metro area.
Kevin’s commitment to building a strong brand and creating a sense of community is truly inspiring. His insights have not only impacted my own journey as a community builder but also provided invaluable lessons for any entrepreneur looking to make a lasting impact in their industry. I am grateful for the opportunity to have crossed paths with Kevin and to have witnessed the positive influence he brings to the AAPI entrepreneurial ecosystem.
To sum it up, the event celebrating AAPI founders in New York City was an extraordinary showcase of the transformative potential of entrepreneurship and diverse voices in the business world. The panel discussions illuminated the resilience, creativity, and unwavering dedication of these founders to realizing their visions. Their remarkable stories and invaluable insights serve as a powerful reminder that embracing diversity and inclusion is not only essential for fostering innovation but also for driving positive change in our society. As we reflect on this event, let us continue to uplift and empower AAPI founders, amplifying their impact and fostering a business landscape that embraces the full spectrum of talent and perspectives. Together, we can forge a future where entrepreneurial excellence knows no bounds.
