“I used to build websites, and after a while, I wanted to create something tangible for a change,” he says. But that wasn’t the only reason why he decided to break into the industry.
“After I exited my previous business, I had some money, but I spent it all on stupid sh**,” he says. “I realised I needed to create an ecosystem where I could earn more money to buy more stupid sh**, including toys, so I took a $20,000 loan to start Mighty Jaxx.”
Today, the toy design and manufacturing business works with international brands and artists to create toys, a lot of which are limited edition. It’s projected to hit $10 million in revenue this year, and last year, Jackson made it onto the Forbes 30 Under 30 Asia list.
“Toys have become more conventional and are now a commodity,” he says. “We’re not the first toy company here and won’t be the last.” He shares that Mighty Jaxx is in the midst of transitioning from a toy company to a technology company, and that it’s currently working on developing technology with government agencies for consumer products.
When asked what he would be doing if he wasn’t making toys, Jackson ponders for a bit before saying he’d probably be cooking.
But whatever he ends up doing next, it’d probably be another entrepreneurial venture. After all, he’s had a penchant for business since he was a kid.
“I played many business simulation games, like Lemonade Tycoon. I’d replay them and find different ways to succeed. It was fun to me and I didn’t get bored. That’s how I found the joy to start something of my own.”
PHOTOGRAPHY PHYLLICIA WANG HAIR AND MAKEUP WENNY FU/PALETTEINC TEXT ADORA WONG.