Help Launch BootHK

Help get BootHK off the ground, keep on reading for more details.

BootHK Membership Overview

To confirm your interest in being a member, please sign up here: BootHK Membership Confirmation

Even if you are just interested, please fill out this quick bio survey that we are using to help talk with potential sponsors: BootHK Bio Survey

 

https://spreadsheets.google.com/pub?key=0Ag_J9FjvAm4GdFg0Q1NybnctTGFVVjNGaDhW…

These images show the current up to date commitments from people so far. The first one is how much people have committed to the launch time of the space, and the second shows the total annual commitment so far.

In order to sign the lease, it was agreed at the last meeting that we want to have at least 6 months of running expenses in hand. Since this includes opening the space, that will include whatever cost there is with kitting it out to start with. So, approximately $200k in total ($18k rent, $5k utilities and insurance, $2k misc costs) which would total $150k plus another $50k in cost for initial setup, furniture, etc.

See the detailed initial budget here that has a better breakdown of where the numbers come from:

https://spreadsheets.google.com/pub?key=0AqytEgQnfzpXdEtJZnEyUlh6Q08yMk45NkRx…

So, what does this mean?

We are ready to launch, but we need more people on board to be able to proceed. It looks like there are quite a few people that are waiting for something, either for the space to be already open or whatever it is, but we need to have more than just 11 people prepared to contribute to the running budget of this community.

Options:

  1. Lifetime Memberships: We want to offer some one-time lifetime memberships for those that are interested in supporting getting this off the ground. The deal would be for $50,000 that person would get a lifetime membership at the same level as the reserved hotdesk, so they would be able to reserve a desk at any time, host one meetup a month, and reserve the conference room for up to 4 hours a month. This alone would be worth $175,000 over ten years.
  2. Debenture: Currently we need about $150,000 more in hand to get things launched, however, if we were able to borrow that much and pay it back as a debenture, then we could proceed without waiting for additional registrations.
  3. Company Memberships: Several people have asked about company memberships and if they would be able to use the space as a registered address. Yes, we could handle company memberships and switch the employee that is connected to it on a monthly basis. If someone is using the space either for reserved hotdesk or dedicated coworking space, then you can use the space for your registered address or on business cards. If you have an annual membership with the minimum of $1000 level, you would also be able to use the address in this way.
  4. Sponsorships: Not against it, but it is preferred that the companies are members rather than just sponsors, however if it makes sense then it makes sense. Some potential sponsors would be for services such as hosting or similar things we would need either way.

Next Steps?

If you haven’t committed and you are just waiting to see what will happen, then go ahead and commit to what you are willing to commit. If we can’t get enough people that are willing to step up to make this happen, then we will not be able to launch.

BootHK Membership Overview

To confirm your interest in being a member, please sign up here: BootHK Membership Confirmation

Even if you are just interested, please fill out this quick bio survey that we are using to help talk with potential sponsors: BootHK Bio Survey

Spread the word – many hands make light work. This is a community, right now there is a committed core of people, but we need to grow that.

Thanks everyone so far for your interest, and I’m very happy that we’ve gotten this far. I’ll be posting more information about the proposed structure and other things like that to the general pages on this site, so keep an eye around boot.hk for details and ask questions if you have them in the google group.

Oh, and one more thing. I don’t know if everyone has been in the loop for Startup Saturday, but we will be doing an official launch announcement for BootHK there, so the further we can get it along by that point, the more we will have to announce both to HK and the world via TechCrunch coverage.

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