Ever wonder what running a business in Papa New Guinea is like? 🇵🇬
This week, we spotlight Gary Cobain, Founder and CEO of Pokitpal, who has done precisely that.
I challenge you to name me a more exotic place for Irish entrepreneurship to blossom.
The now Sydney-based founder has since used that experience to revolutionise how millions of Australian consumers receive cash back from retailers through card-linked offers, rewards and discounts from top global and local brands through Pokitpal.
In an insightful interview, Gary talks about:
- His journey from Belfast to Australia via Papa New Guinea and his career with Digicel led him to start Pokitpal. 🌏
- The pivotal moments shaped Pokitpal’s growth, including a strategic pivot during the COVID-19 pandemic. 💡
- The unique challenges of starting a business as an immigrant and the support systems that have been crucial along the way. 🤝
Enjoy ☕️
Gary Cobain Snapshot 🤳
From 🇮🇪 – Belfast, NI
Living 🇦🇺 – Sydney, Australia
Founded 📆 – 2017
Tell me about yourself, where you are from, and why you moved to Australia?
I’m originally from Belfast and grew up there during the 70s, which was quite a challenging time. I moved to Dublin about 20 years ago and spent 10 years there working with BT. During the middle of the Celtic Tiger, Digicel approached me to work in the South Pacific.
After some consideration and given the economic situation in Ireland, I thought it would be an excellent time to take on a new challenge. We ended up in Papua New Guinea, a very different experience from what I had imagined. After about four and a half years running the B2B part of Digicel in the South Pacific, I decided to start something new, eventually leading me to Australia.
Can you share a bit about your journey with Pokitpal? How did you find going from corporate at Digicel to a startup?
Pokitpal was born from my desire to create something mobile-focused that moved money around digitally. Initially, I was looking at digital wallet applications, but we evolved into a rewards platform where we move cash back from retailers to consumers.
📹 Watch: Gary Cobain explains Pokitpal in 90 seconds
Transitioning from Digicel to Pokitpal was about taking my entrepreneurial skills and applying them to a startup environment. Digicel encouraged an entrepreneurial spirit, which helped me adapt those skills to a corporate culture and now to my business.
What challenges and experiences did you face in Papua New Guinea with Digicel?
Moving to Papua New Guinea was a different experience from what I had imagined. It was a unique challenge that taught me much about adaptability and working in developing markets. The experience was vastly different, but a significant learning curve contributed to my professional growth.
What was it like working for Digicel? (One of the most famous Irish-founded global companies)
I was involved in growing the Digicel business in Papua New Guinea, deploying essential broadband services, and reaching massive adoption quickly.
Digicel encouraged an entrepreneurial spirit with a fast-paced environment where we presented business cases for funding at monthly board meetings. This experience was instrumental in shaping my approach to business and entrepreneurship.
You’ve been going for seven years now. What are some of your most memorable milestones to date?
One of the most memorable milestones was during COVID-19. We realised our business model needed to pivot from focusing on physical retail to a B2B2C model, serving less susceptible customers like financial services. Another significant milestone was when Commbank (Australia’s largest bank) launched a cashback program, validating our business model and making it easier for us to gain traction with retailers.
📖 Read more: Pokitpal reports record growth
What were the biggest challenges in starting a business abroad after emigrating from Ireland?
One of the biggest challenges was not having an established network in Australia. Building a personal brand and gaining confidence from potential investors and clients took longer without the network I had back in Ireland. Navigating the business landscape without familiar support systems also added to the difficulty.
I made it a deliberate policy to attend two weekly networking events to build my network quickly upon moving to Sydney. This strategy helped me meet many people and make valuable connections that supported my business journey.
Leveraging my previous experience with banks while working for BT in Ireland was crucial in growing my network; I understood how the C-suite in banks think and operate, which helped us break into the financial services sector in Australia.
Can you tell me your plans for Pokitpal in the next few years? What are your biggest priorities?
We’re focused on growing rapidly and expanding into new markets. We recently doubled our team size, which has given us real momentum. Our immediate plans include solidifying our presence in Australia, expanding into New Zealand, and breaking into the US market. We aim to be the number one player in our sector and evolve our product to extract more value from our customers.
Who are some of the people/organisations who helped you on your Australian Entrepreneurial journey?
We’ve developed a strong partnership with Visa, working closely with their innovation team to grow our loyalty and rewards capability. This partnership has been crucial in accelerating our business, as Visa’s endorsement opens many doors for us.
Additionally, having experienced investors who provide funding, moral support, and introductions has been invaluable. They probably wouldn’t want to be named, but they know who they are, and I am very thankful to have such good investors.
📖 Read more: Loyalty start-up changes strategy with Visa deal
What’s one bit of advice you wish you could tell yourself when you first emigrated?
I wish I had embraced the Irish network here more. Many people in the Irish community could have helped with introductions and support. I advise new immigrants to actively participate in networking events and leverage the Irish community’s willingness to help.
Finally, what does being an Irish Founder Abroad mean to you?
Being an Irish founder abroad means bringing a solid work ethic and resilience to new markets. Immigrants, including the Irish, tend to work hard and are stubbornly persistent. This perseverance, combined with the support from the local Irish community, has been crucial in navigating and succeeding in the Australian business environment.