Interview With Chris Lee of Metalympics

Future Proof Hub is delighted to interview the CEO and Co-Founder of Metalympics.

Take a look at their website here: www.Metalympics.org.

FPH: When was your company founded?

Chris: As a project, late 2021. As a company, Feb 2022.

FPH: What made you want to start your own company and here in Hong Kong?

Chris: Hong Kong has a great government support and investor pool. Cyberport and HKSTP are the great pillars of encouragement for any young minds to start their own business without financial burden. As a student in HKU, I could also enjoy the great network of professors and university entrepreneurship support programs (like HKU iDednron), just like students in other universities can also enjoy. 

I have always enjoyed facing challenges, and I started feeling my strong passion in entrepreneurship towards my high school graduation. I ended up starting my first company 3 days after the graduation ceremony. Metalympics is my 2nd company.

FPH: What does your company do / what product or service do you provide?

Chris: Metalympics, the Tech Company of the Year (Blockchain & Web 3.0) nominated by 2023 BUSINESS GOVirtual Tech Awards, is a pioneer in Web 3.0, Blockchain, and Metaverse education. 

We use The Sandbox as a friendly tool to educate students about metaverse and Web3. It does not require any coding or advanced design skill. 

More information can be found here: https://drive.google.com/file/d/1iSC1KYf1dbhV1PoPpfYXcSaAQof4B3Jg/view?usp=sharing

FPH: How would you classify your company sector (Technology, EdTech, Web3, Metaverse, education provider)?

Chris: EdTech

FPH: What country does your company service/product target?

Chris: Hong Kong at this moment.

FPH: Any plans to expand to other countries / markets?

Chris: Yes. Korea seems to be the great next target. 

FPH: What problems are you trying to solve?

Chris: Students don't have access to quality educational resources for the job and business opportunities to come with the next era of the internet (Web3).

FPH: How do you propose to solve this problem?

Chris: By utilizing easy and practical tools to educate kids without them losing interests.

FPH: How did you finance your company to begin with? (own funds, seed investor, family/friends,VC).

Chris: A very small amount from my own savings and my professor. Cyberport's 500k HKD incubation program was the major source of fund so far.

FPH: Were there any challenges to raise the necessary capital to start your business? If so what were they and did you overcome it?

Chris: So far, we are still bootstrapped (except for the Cyberport fund). The overall concern towards the Web3 industry has been the biggest hurdle for both product sales and investor relations. We still haven't tried raising funds as much, but we expect similar challenges overall.

FPH: How did you choose your co-founders / partners - any qualities you look for in them?

Chris: My Co-Founder is actually my older brother. Growing up together, we have always shared lots of hobbies and passions in common. 

I always say finding a Co-Founder is like magic. There is no real way or tactic you can use to "find" co-founders. 

The most important trait is patience and passion that doesn't easily fade away. There are too many hurdles and disappointments to overcome for several years. Co-Founders must stick together and maintain the same (or at least something high enough) level of passion.

FPH: What kind of research did you perform that led you to believe that your target market was viable for the product you are offering?

Chris: This is something where I still need to learn a lot.

FPH: Do you have any advice on how to fundraise to start your business?

Chris: The current investment market is very slow and frozen. I highly advise that you should start looking at Cyberport and HKSTP first. That will give you enough momentum to make a prototype and even launch your product to the market. That traction then will help you to raise a proper investment. 

FPH: Are there any laws, regulations you are most concerned with when running your business? (Noting Web3 is evolving area).

Chris: Not much in Hong Kong -- as Hong Kong is overall very supportive for the Web3 industry. 

But the US government is still very against it, and somehow the political instability is very vivid nowadays. Considering the size of the market, I do believe we will have to tap into the US market, but we are still observing. 

FPH: If there was one thing you can change in your country’s startup ecosystem what would that be?

Chris: If you are mentioning Hong Kong, I will have Cyberport and HKSTP to restructure and hire the real startup people. Those people will truly understand what founders really need. I believe they can allocate their resources more efficiently to support more startups and support those who are performing well or need more support. 

FPH: What is your view on AI - how it will affect your business plan and also for the workforce of the future?

Chris: AI is the breakthrough that comes every decade or so -- just like we had a personal computer, iPhone, etc...

As a business, we are now strategizing how to utilize it, and it is likely to be conveyed as some new features in our services.

FPH: What would be your suggestion to young people now on how they can best ‘Future Proof’ their careers given AI, technology changes to jobs in the future?

Chris: The workforce, of course, will be affected. First, the employees who utilize AI well will become more productive, and those who don't will be replaced. In the long term, AI will replace most of the existing jobs, but I don't think it's any help to be afraid of that now. For now, we should first think about how to use it to stay relevant and competitive. 

I will have to say, just like Jeff Bezos mentioned, focus on the things that don't change. While we don't know what exact jobs will emerge and disappear, students should focus on skills that are scalable -- something students can use in any circumstances or industries. (e.g. public speaking skills)

FPH: And final advice to viewers on how to run your business after commencement?

Chris: Focus on the problem you are solving. Validate your hypothesis by experimenting. Define your problem very very clearly. 

Pivoting will be your life. Don't be afraid of changes if they are needed. 

FPH: Finally, if you are at a dinner party, whom would you bring as your guest (anyone from history past and present – politicians, scientists etc).

Chris: Leonardo da Vinci. This guy I think has the most talents in human history. There must be a lot of insights and wisdom to seek from him. 

FPH: Thank you for your time and providing such great insight!