This post is a part of our coverage of Startups in Asia (Singapore), Penn Olson’s first tech conference. Our full coverage of the event can be found here, for our RSS feed, click here.
Summary
Nicholas Aaron Khoo (from CNET Asia) is the moderator, chatting with Zaki Mahomed (Game Ventures), Alvin Yap (TMG), Sanjay (Replaid), and Bernard Leong (Chalkboard)
Liveblog
#11:09: And a last few observations: Zaki says that the Singaporean government is awesome in the way it frees startups from worrying about annoying details, allowing them to focus on the team/product, etc. Alvin concurs: it’s a lot easier in Singapore, full of people who can go global, speaking English and Mandarin. Plus, Singapore has a great standing in the region.
Sanjay says the city state is very efficient, plus the food rocks. While Bernard adds that “the government is always on your side” and allows you to bypass bureaucratic issues that way down teams in other countries.
And that’s a wrap! Thanks for following the chat.
#11:05: A final question from the floor here at Startups in Asia: how would you allocate funds if you’re investing in some team? Zaki says you need to look at people first, and how tenacious they are. Alvin says it comes down to investing in the entrepreneur who’s most energetic in market because that can give its product traction, which is insanely important.
#11:02: What would Alvin do differently if he could go back in time (a question from Twitter)…? He says you need to learn and get your ass kicked everyday, and he wishes he realised that earlier. That might’ve helped him to work faster and get deals done.
On a final note, Zaki chips in to say that speed truly is of the essence, and when you look back you’ll often regret not having done more. So, he says, learn to move as fast as you can, and to delegate more.
#11:01: Bernard says that entrepreneurs need two distinct support groups: an understanding family, and mentors. Friends, though, can often be more of a hassle, putting peer pressure on you to earn more or be in a more traditional job.
#10:55: Nic the moderator next asks about surviving in the local market. Bernard says that Singapore can be used as a test market in which you grow through a few hundred or thousand users, and then you can scale from there, reaching out to thousands of business, such as going next to Kuala Lumpur, which is the way that his Chalkboard company did it.
Alvin says that the city state gives you the chance to learn, and, yes, to test. With such a high smartphone penetration, it’s an opportunity to be the number one in the market, especially as you might understand them better. “Focus on what you can be number one at,” he adds.
#10:52: TMG’s Alvin reckons that some substandard ideas get funded, and they then take up talent. “I don’t think we’ll see the results of these grants soon,” says Alvin as it’s about aiding with a startup’s experience. It’s sort of giving out money – SG$50,000 – to get your ass kicked. But that’s a good think, says Alvin. It strengthens the scene as a whole.
#10:51: Reminder: Nic is clutching an iPad so that he can pick up questions from around the world on Twitter. Ask away with the hashtag #startupasia.
#10:47: “Is the government doing to much or too little?” asks the moderator, Nicolas. Sanjay says that the government is “creating unnecessary competition” with its involvement in grants to entrepreneurs, and its causing a “talent crunch” that makes it too tough to hire people.
Bernand is more keen on what the state is doing to help startups, saying that it’s a huge boost. But a problem could be that startups turn into “zombies” that don’t know when they’re failing, while continuing to eat up taxpayer’s funds.
#10:44: “You need to get more ambitious,” and bring people from around the world to Singapore to work for you says Zaki, referencing a new game coming up from Game Ventures. And so Singapore is well placed to be international and, by extension, quite ambitious as well.
#10:38: What are the challenges related to starting up in Singapore? Alvin says that “you need to be global or regional from day one” which is not easy. Plus, not so many peeps here want to work in startups.
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