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In this episode of Business Beyond Borders, we're joined by Peter Dingle, a Hong Kong-based expert with a diverse background in venture capital, innovation, marketing, and brand management. Peter’s current role allows him to delve deep in the world of fintech, focusing on areas like Insurtech, Healthtech, RegTech, Wealthtech, and Climatech.

Before venturing into venture capital, Peter served as the Director of Nest.VC, amongst other notable roles, where he spearheaded the creation of Hong Kong's first fintech accelerator and orchestrated award-winning corporate accelerators across various industries. 

*The responses provided here have been rephrased for brevity and clarity. For the exact answers and a comprehensive understanding, we strongly recommend watching the full video podcast or tuning into the audio podcast.

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Q: Could you give us a quick intro to your background?

A: I've had a diverse career. I'm originally from New Zealand, and have spent nearly 20 years in Hong Kong. I've worked with global companies like Intel, focusing on technology's transformative power to solve human problems. I later built accelerator programs in Hong Kong, helping startups avoid common pitfalls and strategize effectively.

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Q: What are some challenges startups face when entering new international markets, and how can they overcome them?

A: Startups must find product-market fit and build a strong team while managing finances. Expanding into multiple markets adds complexity, requiring founders to prioritize and strategize wisely.

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Q: You've led cultural changes in international businesses. What strategies have you found most effective?

A: Employees want to feel engaged and be a part of something bigger. Programs like HSBC's Data Quest and AIA's AI accelerator empowered staff to innovate and contribute ideas, unlocking hidden talents within the organization and driving innovation.

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Q: How did you transition Intel's marketing from traditional to digital?

A: We recognized the power of social media early on and launched engaging campaigns like the Museum of Me, which resonated with over a million users in the first 24 hours. This showed the potential of new channels when done right.

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Q: Moving between countries can be challenging. What drove your decisions to move from Australia and New Zealand to the United States and now to Asia? Was it difficult to leave your comfort zone?

A: Moving countries is tough, leaving behind family and what's familiar to you. However, the excitement of travel, experiencing new cultures, and learning new perspectives outweighs the challenges. Each move I had offered unique cultural experiences and opportunities for my personal and professional growth. Knowing I can always return home keeps me excited about meeting new cultures and people.

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Q: What advice do you have for people considering moving out of their home country?

A: Do it. Have a safety net but remember home is always a flight away. Traveling opens your eyes to new perspectives and experiences. Embrace the opportunity to learn about different cultures and ways of life.

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Q: What advice do you have for building a network in a new country and getting plugged into the community to make friends?

A: Every country has communities for almost everything, from professional networks to leisure activities. Start by forming one connection and then ask for introductions. Build a niche network and nurture those relationships over time. Tools like LinkedIn can help identify mutual connections and build relationships.

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Q: Managing businesses across 19 different countries in Asia must have taught you a lot. What are some key learnings you've had?

A: Business success in Asia is more about people than just numbers. Understanding local markets, cultures, and regulations is crucial. Building strong relationships with local partners and stakeholders is essential. Effective communication, both formal and informal, is key to success.

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Q: For companies looking to expand into Asia, what are the top considerations they should have before making that move?

A: You should have a realistic understanding of the market, beyond what mainstream media may portray. Understand the competitive landscape and how your product fits in. Partnering with local businesses can also help provide a foothold and access to resources. Investing in local presence and hiring can also build trust and momentum in the market.

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Q: If we tie back to startups you've worked with and ventures you've created, especially those at earlier stages looking to expand or scale internationally, what key factors should they consider?

A: Expanding internationally often stems from local success. It's crucial to have a clear, simple explanation of the problem you solve and how you solve it. Many early-stage companies struggle to articulate this. It's essential to demonstrate local success and show how it can translate to other markets, reducing the perceived risk for potential clients. This is particularly important in B2B spaces with longer sales cycles. For B2C products, focus on exposure and awareness.

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Q: What technology excites you the most right now, and is there something you saw at the fintech festival that excites you?

A: Large language models and generative AI are incredibly exciting. They can simplify complex tasks, from organizing your life to learning to code. While they're not yet ready to replace human intelligence entirely, they offer immense potential for the future.

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Q: Any book recommendations for founders?

A: "The Lean Startup" and "Zero to One" are popular choices. I also recommend "How to Win Friends and Influence People" for its universal advice on engaging with people effectively.

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