Showing posts with label entrepreneurship. Show all posts
Showing posts with label entrepreneurship. Show all posts

Tuesday, 22 April 2014

MaGIC appointed Cheryl Yeoh as first CEO 大马全球革新及创意中心 委杨美莺任新总执行长



MaGIC (Malaysian Global Innovation & Creativity Centre) has been appointed Cheryl Yeoh, 31,  as first CEO from more than 100 candidates that apply for the job.

Tan Sri Dr Mohd Irwan Abdullah, Secretary General of Treasury, Ministry of Finance Malaysia said Cheryl Yeoh    chosen because of her experience in Silicon Valley in US, and she have successfully make an exist when her startup acquired by Walmart Labs in 2013.

Actually, Malaysia need more entrepreneur that bring company from startup to IPO.  However, it is very difficult for startup outside Silicon Valley or US to build a sustainable business after IPO. Even company in Europe like Skype also opt for being acquired rather than make an IPO.

Cheryl Yeoh claim to raise funding from Dave McClure of 500Startups before her company being acquired by  Walmart Labs. However, this is because of ecosystem or it is skill that Cheryl Yeoh able to bring to Malaysia is yet to be seen.

Cheryl Yeoh also claim mentoring at Peter Thiel’s 20 under 20 Fellowship, 500startups, Founder Institute and Lean Startup Machine, etc.  It seem she able to break the racial and gender inequality first in US and now in Malaysia. A barrier not easy to break, both in US and in Malaysia.

Hope she able to bring change to startup ecosystem in Malaysia........Silicon Valley of South East Asia!

Related : Pulling a rabbit from the hat
Update : MaGIC sign MoUs with Stanford U. and UP Global








大马全球革新及创意中心 委杨美莺任新总执行长

赛城21日讯)在美国硅谷有杰出成就的大马年轻女企业家杨美莺(Cheryl Yeoh),受委为大马全球革新及创意中心(MaGIC)新任总执行长。
财政部秘书长丹斯里依万瑟里加博士说,杨美莺被选为新任总执行长,是因为她在硅谷的成功发展,及于2013年将公司卖给沃尔玛实验室(WalmartLabs)的故事。

财政部接逾百申请

杨美莺来自八打灵再也,也是Reclipt的联合创办人,Reclipt是个性化购物清单应用程序,协助使用者节省金钱,通过使用著名零售商如沃尔玛,梅西百货,沃尔格林、塔吉特及CVS的电子固本和每周的广告来进行消费。
依万瑟里加日前在一项仪式中,宣布委任杨美莺为新任大马全球革新及创意中心(MaGIC)总执行长。
他说,财政部接获超过100项有关职位的申请。
他说,政府希望将尽力协助政府转型为充满活力的企业国家,以便国内外企业家取得成功的开端及发展业务。
他说,大马全球革新及创意中心将作为企业家的一站式中心,协助本地以及国际企业家成功开创商业机会、提升产品素质及服务,同时提供培训、辅导、指导、融资计划、知识产权鉴定等援助。
杨美莺对本身回国为国家服务感到自豪。

培育更多优秀企业家

她说:“这是我担任大马全球革新及创意中心总执行长的第三天,我身负重任,我一定会尽力培育更多优秀的成功企业家,尤其是年轻企业家。”
杨美莺是公共服务局奖学金全额的受惠者,她在美国康奈尔大学攻读工程系学士和硕士学位。



















Saturday, 22 February 2014

Taiwan Top Fashion Online Brand – Mayuki, enter Malaysia market via Lelong.com.my 台湾東京著衣进入马来西亚,创办人驚傳離婚

Online shopper in Malaysia no longer required to try to order from Taiwan and have to meet their minimum order quantity for oversea shipping, yet have to worried about the parcel being withheld by Malaysia custom if they order too many under one delivery. Malaysian now able to order from Taiwan top fashion online brand, Mayuki.com via Malaysia's Lelong.com.my under Malaysia currency. ( Both Malaysia and Taiwan are controlled currency)

Taiwan Top fashion Brand mayuki.com which have reputation for it variety of choice with reasonable price, has officially entered Malaysia market via lelong.com.my few days ago, their id on lelong is Fashion91. Mayuki.com is one of few operator from Taiwan that have successfully penetrate China's Taobao.com. Many Taiwan Ecommerce operator fail on Taobao not because of lack of business but demand so hugh that they are out of stock within 24 hours.  Mayuki.com are one of the few Ecommerce operator from Taiwan that set up a base in China and have ready stock to fulfil hugh market in China.  Base on the fact that many Taiwan Ecommerce operator unable to fulfil demand in hugh China market. it is unexpected that Mayuki.com have appetite in Malaysia market.

Meanwhile, Privately own Lelong.com.my also quietly entered Indonesian Market. Surprisingly, they do not leverage on lelong.com.my brand consider Indonesian language not entirely different from Malaysia's language.. Their Indonesian site have a new brand call zuperkilk.com.

Unlike Malaysia's lelong.com.my, which popular with electronics appliance product. Indonesian's zuperkilk.com find apparel vertical has much more potential than electronics.

Seller on Lelong.com.my more on Malaysia market whereas seller on ebay.com.my target on overseas market like UK,Australia and US. In short, ebay.com.my yet to penetrate Malaysia market.

Coincidently, few days ago Taiwan media reported that it founder, Chairman and CEO has divorce with each other since October 2013.CEO Mayuki accused her Chairman husband domestic violent whereas her father in law deny it and accused her having an extramarital affair.












台湾東京著衣进入马来西亚

台灣網購女裝第一品牌東京著衣进入马来西亚lelong.com.my. 旗下有東京著衣、Mayuki、YOCO三大品牌

创办人周品均
前几天, 台湾媒体驚傳创办人董事長鄭景太和執行長周品均,去年10月協議離婚,周品均日前淚訴遭家暴多年鄭父代子喊冤否認家暴,反控是媳婦外遇被徵信社拍到照片









Friday, 5 October 2012

More team get funding

I accidentally turn to NTV7 last night and discover that more team among Rock star get funding on Malaysia TV reality show "Make The pitch".


First, Chew Kai Feng of Cloudstat get RM500,000 funding for 35% equity on Malaysia TV reality show "Make The pitch".

It seem MyEg requested 35% of equity regardless of how much funding you request. While Chew seem to get the lowest funding among the participant. However, he get RM100,000 more than his request. And it seem he is the youngest and the only fresh graduate among participant.

Another team Fashion Valet, who have a chance to meet Youtube co-founder Jawed Karim last year get RM1million for 30% equity after some counter offer.

Congratulation.to both team above.



Melvin of FanXT initially accepted RM1million for 30% equity. However, Melvin change his mind after that and decline the offer.

It seem maximum MyEG offer is RM1million and minimum equity they want is 30%. Thus, do not participate next season if you aim more than RM1million or you willing to give up less than 29% equity only for less than RM1million.

Good luck Melvin





Monday, 5 March 2012

Kickstarter Vs Crowdcube

Crowd funding getting popular. 

The advantage of crowd funding over Angel and Venture Capital (VC) is no investor via Crowd funding will demand a seat on board of your company. Leaving entrepreneur more freedom to manage their company compare to getting funds from Angel and VC.

Kickstarter in US was restricted by US Regulation D and entrepreneur cannot give shares in return of investment.

Crowdcube in UK not restricted by Regulation D and company in UK have ability to offer for shares in return.

This make Kickstarter in a very disadvantage position over Crowdcube.

Not anymore. US government is planning to amend it law to provide exemption on Regulation D. This put Kickstarter in same level playing field with Crowdcube.

Given a choice, which one do you choose? Kickstarter or Crowdcube?


Comparatively, listing in Nasdaq is much more difficult compare to Alternative Investment Market (AIM). Thus, funding via Crowdcube is much more attractive as it can later listed the company via AIM as exit strategy. Company also can follow Velti footstep by transfer from AIM to Nasdaq later. It is much more difficult to follow Kickstarter direct to Nasdaq.

Alternatively, company can separately raise fund for operation in US via Kickstarter and operation in UK via Crowdcube respectively. But it is a bit difficult to plan for exit strategy in such scenario unless both can scale to very large company respectively.




Update : Startups are now able to get crowdfunding from US investors : Senate passes crowdfunding bill, wisely adds protections for less sophisticated investors

Saturday, 19 November 2011

Alibaba.com founder Jack Ma will be in Malaysia March 2012

The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) will organised 3rd SME conference at Berjaya Times Square at 15 March 2012.

Conference will invited industry icon including founder of Alibaba.com Jack Ma,  Designer of  the world first single chip USB flash pen- drive,CEO of Phison Electronics, Pua Kian Seng.

The conference is expected to have 500 participant and it is a fee pay conference.

Conference language likely in Mandarin (Chinese).


Update: Jack Ma might not around but co-founder of Plurk.com, Alvin Woon will be in town






礼聘国内外知名人士主讲 明3月办中小企业大会



锺廷森透露,总商会会明年3 月15日将在吉隆坡时代广场举办大马中华总商会“第三届中小企业大会”,安排500人出席。
他说,大会将礼聘多位国内外知名人士,包括阿里峇峇电子商务创办人、大马电子闻人兼随身碟发明者潘健成主讲,属于收费大会。
他说,大会主要针对我国政府明年宣布的大马企业大蓝图,拟定华商的中小企业调查报告,剖析我国中小企业面对的问题,例如融资再配合政府中小企业发展大蓝图情况,因此也邀请中小企业机构总监拿督哈霞主讲,以便分析大蓝图提供的商机,中小企业如何打造创新文化。



Wednesday, 2 November 2011

Naval Ravikant speech at Silicon Valley come to Malaysia conference

Venture Capitalist and AngelList founder Naval Ravikant,  who has investments in Twitter and Foursquare speech at Silicon Valley Comes to Malaysia conference. Below are full speech during conference on 20 Oct 2011:




Technology entrepreneur have always come out of the US, particularly from iconic Silicon Valley in California, where innovators, programmers, engineers, angel investors, universities and venture capitalists exist in abundance. But in the coming decade, expect more nascent entrepreneurs to spring up from Asia.

I think sometime over the next decade or two, we are going to see the emergence of good, start-up ecosystems around the world. and the huge markets the US used to enjoy are now in Asia, and that's why a lot of us in Silicon Valley are trying to figure out how we're going to reach Asia....Malaysia is one of the gateway to Asia.

There is a good news for entrepreneurs in asia and Malaysia, because there are still many thingd in this part of the world that don't quite work yet, and these are grounds for innovation.

Author Danny Mills says "technology is everything that doesn't work yet" and this means that you have more opportunities in this part of the world that have in Slilicon Valley. there are certain problems available to you here so the scope of innovation to slove these problems are larger here.

The ability to have access to capital is still not quite as good as that in the Silicon Valley. However, it has become a lot cheaper for entrepreneur to gain capital over the years and that asia has a great potential going forward. adding to this is that the entrepreneur ecosystem in Asia has grown in recent years and this helps Asian and Malaysian entrepreneurs. The fact that I can see hundreds of you in this room is a testimony to that.

To spur the technopreneur ecosystem. companies import foreign talents so that they can work with local technopreneurs and give them a chance to learn the spirit of entrepreneurship alongside their more experienced counterparts.

The government of Chile has done this. We know because Angel List gets applications from indigenous Chilean companies for funding and they are every bit as good as those in the Silicon Valley because they've had the bar set high by working with those from Valley itself.

Aside from the booming development in Asia, the Advent of the personal computer has given entrepreneurs around the world, including those in Malaysia, entrepreneurial leverage like never before. Entrepreneurs today have gained a lot more power han they think. Leverage amplifies the entrepreneur's ability to do things better. Traditional brick-and-mortar businesses depend on labour and capital as their leverage, business succeeded in the old economy because they could muster whole teams of people to work and produce something for others to use. these business also had access to cheap capital to finance this process.

But in the 21st century, intellectual property is the new leverage. Code is power and the new form of leverage because when a programmer writes software, he does so once but every time it gets executed, it doesn't cost him extra. This is the kind of leverage that Yahoo and google had when they came into being.

As entrepreneurs, leverage is your friend and it gives you the power to do what you want to do. entrepreneurs today are more fortunate than those who came before them and they should take advantage of this.

There isn't a fixed formula to start up as an entrepreneur. The most important thing is to do what you love even if others tell you it won't work.

Pick a great co-founder as you'll need someone to be there alongside you. co-founders should be highly intelligent and possess high energy as he or she should be one who never has to be motivated.

A co-founder must have a lot of integrity. If yuou get a highly intelligent partners who's full of energy but has no integrity, you're going to get a smart crook as your partner, and that's the worst kind of co-founder you can have.

Next, pick a very large market that entrepreneurs can easily grow their business in. This is somthing that can be easily done in Asia and even the Silicon Valley does not have such huge markets. Another important thing to note is not to pay attention to idea, as they are irrelevent today.

Ideas are worthless as many can just sit around and think them up. What's more important is that you pick a large market in areas that you're knowledgeable and passionate about and you will figure out what is the right thing yo do in that space. do not go around pitching a great idea and asking for money, as that is the worst thing to do.

Rather, say to your investor that this is the space, articulate the huge market potential it has and show them how passionate you are about the business, the kind of things you could do with your product, the kind of people you have doing things alongside you and show them a minimum viable product that you can use to test the market with.

With the leverages that exist today, an entrepeneur should be able to get a product-market fit - where a product matches what the market needs. Then do you go to people whom you can trust to raise money, and use that money to scale your business.

While basic education is important, it's not necessary for entrepreneurs today to get a graduate degree in the form of an MBA as schools in general tend to force students to conform. Instead, they should try to get into good incubators.

It used to be if you wanted to start a company, you were told to get an MBA and/or a Masters. But entrepreneurs know that going to schools does not teach you to be innovative nor are they grounds for being creative.

The beauty of incubators compaared with graduate schools is that entrepreneurs get paid to get one's education, nothing that in the Silicon Valley, incubators can get anywhere between US$25,000 to US$200,000 of funding for a company.

When you get out, you are not expected to hunt for jobs. Instead you are expected to create jobs for others, so this is completely flipping the school model on its head. You are also not expected to do the work your professor tells you to do but rather, are expected to do something original, something of value the world has never seen before. and finally, you are graded not by professor but by the real world. so the best case is that you create a company and products that will change the world; worst case, you learn by actually creating something.



Below are some of the question posed to him and his answer:

Q&A session:

1) Despite the distance between Malaysia and the Silicon Valley, wouldn't the angels want to invest in promising companies here?

That is a really hard problem to overcome, because even with good products, one can be too far away. an angel will first want to get to know you before they invest and once they do, they want to be able to bring their network to help you in any way possible. One way to get past that is to get a local investor who is trusted and has a network in the US himself. the second is to just grow the business to the point that people will look beyond the core team and just focus on the numbers. Perhaps, it is best to follow the Estonia model where you regularly get one or two members of the start-up team to spend six months at a time in the US. this allows them to network locally and for the local players to get to know them too. But if you do that, those who come over to the US must include at least one member of the founding team.

2) What are the key criteria angels look for when investing?

Someone I know described the process of raising money as a group of young men and women seducing a bunch of old men and women. You want to make them see something of themselves in you. which means, it is an emotional sale. Emotional sales do not work on a check list. So, while there are four key categories angels look at, they will usually look for one exceptional characteristic that they really adore. so you yourself must excel in one of these four categories.

As for the categories, it starts with the team you have assembled. the angels want to see that it is a high quality team that has a history of accomplishing good things. the school that you went is less important, eventhough you hear  a lot about Ivy League schools.

The second thing they look for is the product itself. You need to focus on building a really good product. I have seen many entrepreneurs who make the mistake of building poor products or half products and then try to explain their way aroud it. Don't. Just build a good product so that investors can play with it and see what it will look like. The reality is that they are highly visual people.

Third is customer traction. This matters a lot. If you have a lot of users/ customers and growing, that is very good. But if you say, give us the money and we will go get customers, they do not like that.

Finally there is something called social proof. If you get one  investor in, very often another will come in, or if you have a famous entrepreneur as an adviser, that will help the company too.

3) Right now it seems that 99% of start-ups are in the consumer Internet space. what do you think of enterprise start-ups?

Actually, the odds are very low to make money from consumer products and it takes a long time too. so, actually, more investors want to invest in enterprise rather than consumer companies, especially in this part of the world. But you have to do somthing that investors like that is exciting, new and dynamic. You can take lessons from the consumer space and bring it to the enterprise space, and absolutely no clunky apps please. One reason investors like consumer apps id because they use them too. for example, pipedrive.com is a web-based CRM and sales management software as a services tool. They basically asked themselves, what if Apple came up with salesforce.com. In this way, they brought something fresh and new to the space.

4) As a successful investor, what type of start-ups will be hot in the next five years?

Frankly, there is an enormous amount of luck involved here. I have had three successful investments and that was out of almost 60. I thought all of them were going to be as successful as Twitter!

Even looking back today, I can't explain to you why Twitter is successful and I think anyone who tells you they know what they are doing with their investment is basically lying.

But, if I had to guess, the next hot thing will revolve around the mobile. this is a device that has about 12 sensors in it and each is on all the time. someone will cleverly stitch them all togehter and do things we cannot imagine today. Also, many things don't work yet, so in reality, there is a lot to be done.


5)What about the risk of exposing our idea to someone who may copy it?

Whatever your idea is - kust google it. It is already out there.

6) The prospects for angel investors exiting from their investment here is not very strong. How do you see them coping and what other means to exit can they look at? Also, do you see your fund expanding here?

The reality is that investors don't invest where thy are not. With angel list, I wanted to deocratise angel investing globally. But in reality, over half our deal volume is in the Silicon Valley and around 90% of the deals are in the US.

As far as other means for angels to exit, I think the chances are much better, especially on the M&A side. for instance, lots of companies realise they need to go global quickly and open branch offices globally, for example, Google, Groupon, LinkedIn, and in the beginning they would buy the local clones. But hopefully those will not be the only exits here because the problem with that is that it does not encourage creativity. I should add that these companies are now also buying for the talent - the designers, engineers, developers and so on.

On the local front here, I am hoping that your large companies realise they too need to acquire local start-ups. for instance, maybe Maxis will start acquiring start-ups in the mobilephone space. That started happening in the US in 2007, but then the bubble burst. Nevertheless, I see a second coming. I don't know what will happen on the local front, but what is going to happen here is that a lot of local angel investors will lose a lot of money until the cycleturns and big companies start buying small companies. Investos in at the right time will make a lot of money then.

7) I have already raised money overseas, but I notice that local investor appetite is very poor. What can we do to whet their appetite?

The best way is to create a startup that creates rich people who then invest in other tech startups themselves. In the US, when Google went public, its staff suddenly had a lot of money, and since they made their money from a tech company, they started to invest in other tech companies.

8) What are a service-based company's chances in terms of raising angel funding?

It is harder because it is very people based; you have less leverage and lower margins. so, investors don't like it as much. while they do get funded, you have to be further along in your growth and must demonstrate that there is a strong IP-based component to the company so that it becomes a more financiable business

9) What is your take on the lean startup movement?

Well lean startups sound great - do it quickly and cheaply. I think every startup should do that, but I also encourage you not to get caught up in movement and terminology. You can take a lot from this movement, such as stay small until you figure out what works. Steve Blank, a serial Silicon Valley entrepreneur and author of Epiphany, defines a startup as a search for a scalable and repeatable business model. So until you find that, I would advise you to stay very small and cheap.



The above are reference and excerpt from : The Edge . 

Profile: Naval Ravikant

Naval is an entrepreneur and angel investor, a co-author of Venture Hacks and co-maintainer of AngelList, Previously, he was a co-founder at Genoa Corp, which was acquirred by Finisar, Epinions, IPO via shopping.com and Vast.com, a large white-label classified marketplace. He has advised Bix.com, iPivot and XFire and invested in Twitter. Foursquare, DocVerse, which was sold to Google, Mixer Labs - Sold to Twitter, Jambool, snapLogic, PlanCast, StackOverflow, Heyzap and Disqus. Ravikant is recognised for changing the way angel investments are made in high tech startups, earning the title of one of the Top Angels in Tech by BusinessWeek in 2010.



Sunday, 11 September 2011

Intel Capital invest in Dealmate.com.my


Intel Capital, the venture capital arm of Intel Corp, has invested an undisclosed amount in Dealmates, a group buying start-up base in Malaysia.
This is third Group buying site in Malaysia being injection or M&A by Foreign company in year 2011.
3 months ago, another Malaysia Group buying website Everyday.com.my has been acquired by a South Korea company Ticket Monster.co.kr. This is just a few short month after US base Groupon acquired Group More to become Groupon Malaysia. After a decade of launching Multimedia Super Corridor (MSC). Malaysia now on radar screen of M&A by technology startup MNC. Unfortunately, all focus on Group Buying company.

Groupon Malaysia CEO Joel Neoh become celebrity CEO after his company Group More acquired by Groupon.

South Korea online shopping Mall has set up http://www.gmarket.com.my/ in Malaysia despite it office is still base in Singapore. It website stated the campany partner with ebay, which has entered Malaysia market via http://www.ebay.com.my/ few  years ago. This has create some confusion among ebay seller in Malaysia.

Another online shopping Mall from Japan, Rakuten plan to enter Malaysia market by year end or beginning of next year. It is surprising that Rakuten not using it Taiwanese company to enter Malaysia market. Given the fact that the online shopping Mall highly successful in Taiwan market and a high population in Malaysia speak same language with Taiwanese. It is far more easy for Rakuten Taiwan to enter Malaysia market than direct from Rakuten Japan.

After a decade of launching Multimedia Super Corridor (MSC). Malaysia online market is growing and on radar screen of internet MNC.
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