How the HEC Paris EMBA helped me launch a fintech startup—and raise almost $1 million

Pei Li was born in China and spent his teenage years in Australia, but it was France that really shaped his career. Having studied at university in the country, he went on to work for some of France’s biggest corporations in the insurance and consulting sectors. 

However, the Covid pandemic prompted him to make a bold career decision; one that would result in him studying the Executive MBA (EMBA) at HEC Paris and ultimately paved the way for his fintech startup. Here, he recounts his story to BusinessBecause.

Why the pandemic sparked a career change

It’s become a bit of a cliché to say that the Covid pandemic changed the way we lived our lives, but that doesn’t make it any less true. For Pei Li, the pandemic was a stark reminder that there’s no time like the present to achieve your dreams.

“Covid reminded me that life is short,” he says. “The most important thing is to do what you want to do and give yourself all the possibilities to do it by yourself.”

In Li’s case, doing what he truly wanted meant one thing: starting a business. At that point, he had studied in France, acquired French nationality, and worked in consulting there for a number of years. But something was missing.

“I wanted something very strong to boost my career and even for myself,” he says. “So I decided to do something different.”

Rather than jumping straight into entrepreneurship, Li decided to study an Executive MBA. The choice of where to study was an easy one. In Europe, it was always going to be in France. And in France, it was only ever going to be HEC Paris.

What the HEC EMBA taught Pei Li about entrepreneurship

The HEC Paris EMBA is one of the world’s top programs, ranked second in the global QS ranking. While the prestige of the program was an obvious draw for Li, it was the entrepreneurial aspects that sealed his decision.

As part of the program, HEC Paris students complete a 10-month capstone project. It involves writing a 35-page report on a new or existing business, and can serve as the perfect springboard to validate a startup idea.

Not only did the capstone project help Li (pictured) validate his fintech startup idea, but the HEC business incubator helped him attract vital investment.

“Thanks to the HEC EMBA, I did my capstone [project] and [launched] my current fintech company, which is incubated by HEC,” he explains.

“We raised almost $1 million within five weeks. I won't say the HEC program did everything for that, but it contributed a lot. It helped me fundraise and attract more investors.”

Li also cites the specialization week at Babson College in the US as a key learning experience. During the trip he learned vital skills related to entrepreneurship—such as negotiation, communication, and fundraising—which would prepare him well for his future career.

“The EMBA gave me some technical pitching skills that helped me a lot while I was fundraising for my own company,” he says.

Li’s EMBA classmates were just as instrumental as any elective, serving as inspiration for his entrepreneurial ambitions.

“In my cohort there was someone who worked in fintech for several years and founded two unicorns. This story really inspired me. I thought, we’re classmates—if he can do something like that, why can’t I?”

He also explains how during the program he acted as a kind of ‘super connector’ between students, which helped him to foster stronger connections with his classmates. It means he now has a strong professional network to call upon, and Li continues to give back to the HEC community by giving advice to current students.

The mindset behind Pei Li’s startup success

Li’s road to becoming an entrepreneur wasn’t a simple one. Entrepreneurship has its challenges, so it helps to have a clear sense of purpose before committing. It was only with this kind of conviction that Li was able to successfully launch his own startup.

“You are in a tiny percentage of people when you choose to be an entrepreneur,” he says, “and when you choose to be in a small percent of people in this society, you should stick with your choice and believe in your choice.”

While the EMBA had a clear impact on his career, Li emphasizes that its true value lies in how you use it. The qualification itself opens doors, but it’s what you do with the opportunities that determines your success.

“The most important thing is not the paper that you get at the end of your experience. The most important thing is to enjoy the learning experience, make the most of it, and share it with your cohort. Don't consider the EMBA as the end of something¾it's the starting point of something fantastic.”