Wednesday, December 28, 2016
Reflections on 2016: Lawrence Ng, OnRamp Fund
Story by Lawrence Ng
This holiday season, we are again sharing the reflections on 2016 from Southern California's technology ecosystem. Today's contribution is from
Lawrence Ng, serial entrepreneur who, last year, founded
OnRamp Fund, a $10 million incubator that invests in early stage startups. You can see all of our holiday reflections here.
What's was biggest news from you or your firm this year?
Lawrence Ng: Our biggest news was growing our global incubator, OnRamp. The introduction of KidGuard, new cell phone monitoring software that gives parents the ability to access their child's digital interactions, was a major accomplishment. It solidified our ability to launch new technology using resources both here and abroad. Throughout the year, we've also been growing Simply Bridal's online and “brick and mortar” bridal business. We've learned a lot in the process.
What's the biggest lesson you learned this year?
Lawrence Ng: When you start an incubator, your quickly learn how passion for a new product motivates the team and encourages them to work together regardless of location. We gained so much knowledge about our own capabilities and potential when we began developing KidGuard. Working across global boundaries became incidental to the whole process and our success.
What's your favorite technology gadget, device, or innovation you ran across this year?
Lawrence Ng: My favorite new gadget is the Anova Precision Cooker. It uses sous vide technology and is perfect for the person who has no time to spend in the kitchen yet wants delicious, healthy food. Setting up the device is very easy and you can start your cooking from their app on your mobile. Get notified when your food is ready to eat. Never thought I'd be doing this! FYI on Sous Vide] Sous vide (pronounced “sue-veed”) is a cooking technique that makes it super simple to achieve professional-quality results at home. The technique utilizes precise temperature control to deliver super-juicy, flavor-packed results from edge to edge, every time. It's been around for a long time and is a well -kept secret among professional chefs.
Finally, what do you think will have the biggest impact on the technology industry in 2017?
Lawrence Ng: Drone and Augmented Reality (AR) is a huge game changer for many industries. While flying a drone is fun, adding an AR element and a virtual world takes things to the next level. It combines innovation and entertainment. Two good examples are children's entertainment company (Spin Master) which launched an AR drone-racing game for the holiday season. It's the first physical toy that is played in an augmented reality with immersive 3D game play. Epson's Moverio augmented reality (AR) smart glasses partnered with drone maker DJI. The partnership will bring about the first mass-market consumer application of AR drone piloting.
Lawrence C. Ng is successful serial entrepreneur who, last year, founded OnRamp Fund, a $10 million incubator that invests in early stage startups. The Fund has expertise in technology development and data management. He also leads LNG Management, an asset management firm focusing on global opportunities. Previously, Lawrence co-founded Oversee.net which grew from an internet startup to a leader in internet services. The company won numerous awards during his tenure as CEO.
In 2009, Lawrence formed the Lawrence C Ng Family Foundation, a grant-making organization that is dedicated to supporting non-profits whose mission is to create brighter futures for underprivileged youths through education, mentorship and career guidance. Lawrence graduated from the University of Southern California.