About Targeting residential communities across cities in China, EVPower provides the property management companies and their residents with a hassle free one-stop EV charging solution that saves their troubles in management, safety, operation and financing.
Laurence Chan Co-Founder & CEOMaster in Electronic Engineering, the Chinese University of Hong Kong. Founded AMOS Technology Company during his studies, providing designer and consultancy service for electronic and electric power automation system. He subsequently founded EV Power Limited in 2010.
Nicole Guo Co-founder & President 12 years of experience in local merchant channels development and operations. 7 years of experience in large scale multi-cities team building and management. One of the early stage employees of Dianping, who is involved in incubating the groupon business and business development in key cities across China; establishing the advertising business and its incubation, nationwide business development and management; SaaS product design, operation and monetization in the vertical end of ToB.
Martin Tsang Co-founder & Board Member Bachelor in Electronic Engineering, the Chinese University of Hong Kong. During his studies, Martin developed his own ‘virtual pointer’ and was awarded Champion in many Hong Kong technology competitions, and 1st runner up in China Tiaozhanbei. Founded AMOS Technology Company in 2006, providing designer and consultancy service for electronic and electric power automation system. In 2010, Martin built in the automation system for the largest biodiesel factory in Hong Kong, and joined with the government’s effort in promoting green industry. He started to develop his own electronic charging station, E-Charge, and many others charger models. In the same year, he founded EV Power Limited, dedicated to develop the EV charging business in Hong Kong. In 2012, E-Charge was awarded Best Green ICT Award by The Hong Kong ICT Awards.
What is your startup vision? Laurence:In the past 5 years, the emergence of electric vehicle has revolutionized the way people commute and personnel is deployed. Being one of the most populated and rapidly developing economies, China has great market potentials for electric vehicle. I firmly believe that we are not only building EVPower a company with great operational efficiency, but also help propel the development of electric vehicle in China in the process, facilitating easy charging for customers across China. Speaking of the development of electric vehicle, it is dependent on the supply of charging facilities. Hence, what EVPower is doing here is to propel the development of both the EV industry and its market, providing green energy alternatives to China, enhancing fellow citizens’ quality of lives and contributing to making the world a better place to live in. Zhong Wei Capital is in line with us on our vision as we both see the prospect of EV in the long course despite it being at its early stage. They have been supporting and fighting with us side by side.
What is the greatest challenge you have encountered in your startup road? Nicole: Electric vehicle is a revolutionary technology that needs time for its cost structure to adapt. Added to this, doing startup is a lonely process where you have many people questioning you vision, challenging the likelihood of EV replacing gasoline vehicle or the lengthy time the replacement needs. Hence, it takes the will of steel to pursue and persist on this direction. This EV opportunity is unprecedented in history. It is catch but it is also a challenge for us to craft the right product or models that both generate profits and provide a good user experience. It is a whole new idea, a blue ocean, one that is full of challenges.
How has Zhong Wei Capital helped you? Laurence:In addition to capital, Zhong Wei Capital provide strong endorsements and has put in great endeavors in every new round of fundraising. Also, the background of its shareholders has effectively facilitated our connection with residential communities and office building managements, boosting our rapid expansion and collaboration in those networks nationwide. We ourselves is a Hong Kong local company entering the China market, Zhong Wei Capital has complemented the localization of our business by introducing to us top notch local talents across industries. On a company strategy level in view of fierce local competition, partners in Zhong Wei Capital truly devoted their time in understanding our operation and user need, giving us valuable strategic advice.
Why did you choose Zhong Wei Capital for investment? How is Zhong Wei Capital different from other funds? Laurence:I would say we both share the firm belief in the EV market in China. Such vision isn’t merely commercial in nature, it carries great values to the society and the livelihood of our fellow Chinese citizens. We have met others investor prior to Zhong Wei Capital, and most of them share the same belief that electric vehicle is still at an early stage, the investment cycle would be too long for them. On the contrary, Zhong Wei Capital agrees with our vision and continuously support us in crafting the product as well as the business model, like a co-founder of the company. Also, one of the partners in Zhong Wei Capital comes from entrepreneur background. Hehas startup experience in Hong Kong and thereafter built a successful business in China. He understands the difficulties we are facing as an entrepreneur from Hong Kong and provide valuable advice to keep us away from traps.