Showing posts with label startup. Show all posts
Showing posts with label startup. Show all posts

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









Thursday, 16 May 2013

Price hike of international postage by Pos Malaysia Berhad

I just back from outstation and went to Post Office today to do my normal delivery.

Staff of Post Office pass me a booklet ( pic below). I ask in Malay "Price increase?" and they said "yes, since yesterday ( 15 May 2013 )

With the popular of email, sms and whatapps etc. Volume of normal mail has drop gradually. However, with the popularity of people buying online. The only growth area of Pos Malaysia Berhad is parcel for ecommerce.



Generally, those parcel mail to overseas as Malaysian still do not have habit of buy online.

Thus, ecommerce operator are partner or stakeholder of Pos Malaysia Berhad.  However, with a price increase. don't you think Pos Malaysia Berhad milking Ecommerce operator, it partner and stakeholder  too early?
Malaysia have a reputation of provide low cost of goods globally. Pos Malaysia Berhad suppose to reduce price to increase volume to enlarge the cake rather than kill the goose that lay the eggs too early.

Ecommerce operator are challanging with US's QE1, QE 2 by US and appreciation of Ringgit currency. This has eaten margin of Ecommerce operator significantly.

It doesn't help when Bank Negara fail to control exchange rate charge by Paypal Paypal have increase it exchange rate last year. Paypal exchange rate are significantly higher than commercial bank and Licensed Money Changer. This further eaten margin of Ecommerce operator. Other than price increase of Ecommerce Mall operator like eBay. A company who control Paypal.

With the price increase of Pos Malaysia Berhad. Will this be the last straw who kill the industry and dampen the effort of Malaysia to move from manufacturing economic to become a Ecommerce hub and Economic Transformation Program (ETP) EPP121 Growing a virtual Mall is yet to be see. I really feel that price increase is not the way to acheived NKEA : Communication,Content and Infrastructure : Business Opportunity 3 : Courier, post and Broadcast.












Update 1 : The Star : Revised postal rates just too high
Update 2 : The Star : High postal rates severely affecting business
Update 3 : ebay forum : Pos Malaysia certainly sky rocket their international shipping fee.
Update 4 : Itu dia : Malaysia news sharing : Pos Malaysia 调涨国际包裹邮费 400%
Update 5 : Malaysiakini : Pos Malaysia ups overseas parcel rate, irks netizens
 Update 6 :  web2ship eparcel offer more prefential rate to US and will give reader of this blog 5 free shipments for trial OR total rebate of Max RM50 until end of this month for our eparcel service as long as you use our eBay integration. Promotion code : Arbirage . Disclaimer : Arbiage Sdn Bhd (927246W) never used such services before and reader should used it services at your own risk Arbirage Sdn Bhd (927246W) just informed reader of such offer and should not see as endorsed their services.
Update 7: Lowyat forum : Pos Malaysia Ridiculous Price Hike After May 17!, Price Hike of RM 40++!!!
Update  8: Malaysians must know the truth : Pos Malaysia ups overseas parcel rate, irks netizens
Update 9 :  faithluv2eatntravel : Price Revised for International Shipment from Yours Truly....POS MALAYSIA
Update 10 : Majlah Review Malaysia : POS Malaysia: Kos hantar bungkusan ke luar negara naik 400 peratus
Update 11 : Malaysiakini : HLIB: Many challenges ahead for Pos Malaysia
Update 12 : Photo: This is Pos office lastest price for INT AIR MAIL  for small parcel.
Update 13 : Malaysiakini : 国际包裹邮费暴增四倍大马邮政激怒网上业者
Update 14 : The Star: Don’t kill the golden goose, Pos Malaysia
Update 15 : kelvinator21.blogspot.co.uk : 2013 POS MALAYSIA HAS INSANELY INCREASES INTERNATIONAL AIR PARCEL FOR WORLDWIDE DELIVERY THAT TAKES EFFECT IN MAY 2013 - 17.MAY.2013
Update 16 : blog.shipping-quote.net : Pos Malaysia shipping rates update / new Small Packet May 2013
Update 17 :blog.shipping-quote.net : Pos Malaysia and the ’400%’ price rise 
Update 18 : 南洋商报 : 居民投诉82元变279元 寄澳洲包裹两周涨300%?
Update 19 : Caj Pos Malaysia naik 8 kali ganda?
Update 20 : 星洲日報 : 郵政公司:國際郵費漲更快遞送
Update 21 : 南洋商报 : 邮费调涨一倍 海外网购料受冲击
Update 22 : 中國報 : 國內保持不變 國際郵件包裹郵費調漲
Update 23 : 忠政快讯- 大马邮政公司自5月15日开始调涨国际包裹邮费,激怒从事 ...
Update 24 : The Star : Postal rates still way too high
Update  25 : Asean Trading Link : Singapore Post Limited benefited from recent price hike of Post Malaysia Berhad
Update 26 : Lowyat forum : Pos Malaysia Is Killing All the Online Seller !, Postage 2013 May Increase 400%
Update 27 : Wangcyber :  Adoiii! Mahal giler caj baru Pos Malaysia! Matilah kita
Update 28 : Facebook Boycott Pos Malaysia Page https://www.facebook.com/BoycottPosMalaysia
Update 29 : cari forum : 国际包裹邮费暴增四倍 KNS
Update 30 : Cari forum : 大馬郵政公司有无漲價?
Update 31 : i3investor : Culprit of Malaysia Balance of trade surplus drop
Update 32 : The Star : Postal rates affecting small businesses
Update 33 : Asean Trading Link : One year after Pos Malaysia international postage rate price hike

  




Wednesday, 16 May 2012

New page owner and admin of our facebook fan page

I have attended Silicon Valley Come to Malaysia Conference last year (2011). Linkedin's co-founder Konstantin Guericke was keynote speaker at the event. Konstantin Guericke created a Linkedin group Silicon Valley come to Malaysia, which is a sub-goup of Startup Malaysia, to continue communicate with Malaysian participant of the conference.

Being an alumni of Stanford University and guess lecture of Stanford University.  Konstantin Guericke recommended an online course offer by Stanford University, Technology Entrepreneurship E145 to startup entrepreneur in Malaysia. The course have approximately 30,000 online student worldwide to date.

I enroll in the course to learn more about enterpreneurship. The course operates according to the flipped class, where team-based, experiential education (learning by doing) is central and video lectures and readings are there for support.

Iván Doel are my course mate at Technology Entrepreneurship of Stanford University. Ivan Doeal has assigned to my team and we have worked on two assignment together and we are in our third assignment now.

I have made Ivan page owner and admin of our facebook fan page . Ivan might post some survey to study preference of our customer for our course assignment. Please participate in the survey to help us to understand our customer better.

The online course also recommended us to participate in Start up compass . To evaluate our company, whether our company in premature scaling or determine how we reach Product/Market fit to scale.

In order to reach Product/Market fit. The company must have a killer product. This mean we must have a product customer will feel upset if we no longer in business. That customer cannot live without it. Please help our company find our killer product.

Alternatively, we also want to know whether we able to reach Product/Market fir if we become online hypermarket. Where we sell everything under the sun. Please tell us whether you will feel disappointed if an online hypermarket close down it business and you unable to buy product from us again.

In order not to violated ebay privacy policy, which I cannot shares customer email address with Ivan. I will also email the survey  to our previous customer to survey. Please participate in the survey to help us to understand more of our customer

Update : Result of survey













Below are excerpt from 南洋商报 

190国16万人报读 网上免费史丹福课程

(旧金山13日综合电)谷歌研究实验室主管特龙去年试验推出美国史丹福大学网上免费课程,一年间共有16万人报读,约2.3万人考试及格。

他期望此计划可让名牌大学平民化,跟随名教授读书,不再是天才尖子或富二代专利。特龙本在史丹福任教的电脑科学学士课程,一年学费要5.34万美元(约16.4万令吉)。

去年他将人工智能课放上网,结果这免费课程影响无远弗届,16万学生遍及全球190个国家,包括战区美军。成绩最好的410位学生,全部并非来自史丹福。

“可能我在史丹福也不能接触最好的学生。”
特龙辞史丹福教职,成立网上教育机构Udacity,学生只需付1美元(约3令吉),就可修读史丹福收取约3000美元(约9217令吉)的课程。

著名学者教授
另一方面,哈佛大学和马萨诸塞州理工学院最近也耗资6000万美元(约1.8亿令吉),为网上教学公司Coursera制作免费网上课程,当中很多课程都由著名学者教授。
史丹福大学、密歇根大学等院校都是Coursera的合作伙伴。Coursera学生虽不会获大学学分,但会获证书证明。

去年一名修读电脑科学的学生原来是日本福岛核电厂工程师,更将从课程学到的新知识应用在处理海啸危机上,这些课程料逐渐获雇主认可。




Wednesday, 21 March 2012

Why Alvin Woon not invest in Malaysia

Co-founder of Plurk.com Alvin Woon said Plurk.com has consider to invest in Malaysia to expand 3 years ago. However, due to lack of talent and incentive from government, he has give up Malaysia and invest in Taiwan eventually.

Great potential in internet Startup

He said, in fact, there is great potential for Start up in Malaysia. Standard of product launch here are on bar with product in US. Unfortnately, investment environment here not condusive to nurture such industry.

Whether government would give tax incentive and availability of talent, are important consideration on whether or not to set up a base here. As there is no such advantage at that point. We have to give up Malaysia.

Alvin Woon is responding to a question on whether Plurk.com would set up a branch here after a conference on Entrepreneurship at University Tunku Abdul Rahman.

He said frankly that , as a Malaysian, he would like to set up a base in Malaysia so that he able to "go home" very often. But he has to face reality eventualy : " I can't told other co-founder, I am a Malaysian, so we have to choose Malaysia (to set up company) " (Translator note: Alvin Woon split shares equally among 3 co-founder before Angel investor come in)

Alvin still observing government effort in attracting investment and talent

As to Malaysia current transformation in attracting foreign investment and talent. Alvin said he will observed.

In restrospect, 90% of internet startup are by Chinese. But they rarely get funding from government.

"In fact, we can't expect to attract overseas talent to come back just by slogan. Some has come back, but unable to find neccessary manpower talent to complete the task, mission required. You have to fill up a lot of form if need funding and been through a lot of challenge.......

"Some people do come back 10 years ago, Maybe they find it difficult to stay ( in Malaysia ), have to leave and never come back again. I don't want my first experience back to Malaysia to be like this. I never give up Malaysia from the beginning until now, hope able to lend a hand to Malaysia, especially in internet startup."

He know deeply government effort in attracting overseas talent. and understand someone must make the first move " I just hope this is not a difficult first step"

Youth must venture into business earlier

Alvin Woon advised young people to venture into business earlier as youth has advantage. Not afraid to fail and can fail early. If not, you will lack time and energy when you grow older and just regret.

He has few wisdom on  his journey in entrepreneurship startup. first is "Don't care about copy or compare, don't waste your time in care about what other people doing. What you did on yourself is more important.

In order to venture Plurk.com. Alvin Woon when to Toronto from US alone to set up a base. Just give up his existing job and girl friend. It is tough initially, but base on determination, he able to venture his own success.

Plurk.com launch on November 2007, have more than 20 language version and expand quickly in Asia country like Taiwan, Malaysia, Philippines and Singapore. It has 6 million to 7 million member now. with 50% of it member in Taiwan.

Venture Capital important in internet Startup
Alvin Woon said he has to understand internet business in Malaysia market first before deciding to contribute in which area.

On how to incubate & nurture internet startup. He said funding is important. Many Malaysia have programming capability, but they unable to move next step, if lack working capital. You need money in marketing and networking. It is difficult to consider your next move if lack capital.

He stress, startup capital requirment are lower in Malaysia compare to US, plus you get higher return on capital. Many people don't understand internet startup, They don't invest even they have capital. They rather invest in property or gold. This required change in mindset.

Excerpt and translated from Nanyang dated 16 March 2012













 

云惟彬揭噗浪弃马投台原因 “网络市场缺奖掖人才”


(八打灵再也16日讯)“噗浪”网(Plurk.com)联合创办人云惟彬说,该公司3年前曾考虑回马设公司扩大网络创投市场,碍于本地缺乏政府奖掖优惠及人才,最后只好“放弃大马转投台湾”。
网络创业潜能大
他说,其实大马的网络创业潜能甚大,它们所推出的“产品”不输美国相关市场,只可惜大马的投资环境未能良好孕育这行业。
“政府是否给予扣税奖掖及当地有否人才,都是设立据点的重要考量,本地当时没有这些优惠,为了公司,我们只好放弃大马。”
云惟彬今日在拉曼大学主持企业座谈后,就是否考虑把噗浪网经营模式从外国搬回大马一事,这么回应。
他坦言,身为大马人,本身很想在大马设立据点,以便“多回家”,但最终仍需面对现实考量:“我总不能跟其他创办人说,我是大马人,就要选择大马(创办公司)。”
政府吸资及挽留人才 云惟彬持观望态度
对于目前大马政府制定改革措施吸引外资及要求人才回流,云惟彬指他将观望。
回顾过去,90%的大马网络创业由华人起步,他们却不曾获政府援助。
“其实不能光靠口号就要求海外人才回流,一些人已回来,却找不到足够人才;要做东西由找不到人,要钱的话又要填一大堆表格,过很多关……
“10年前也有一些人回流,也许发现真的很难留(在大马发展),只好离开,再也不回来了。我不希望自己的首次经验也如此。我由始至终未放弃大马,很希望以不同管道帮助大马,尤其是网络创业。”
他深知政府鼓励人才回流用意,也了解总需有人抛砖引玉踏出第一步:“但我希望这一步不会太难跨出去。”
年轻人创业要趁早 “做好自己最重要”
云惟彬劝勉时下年轻人,创业要趁早,因为年轻就是本钱,不怕失败也经得起失败,否则年老了连动力及时间都欠奉,只徒留遗憾。
他在创业路上有几个至理名言,其一就是“别在意模仿及比较,别把时间放在关心别人在做些什么,做好自己才最重要。”
为了发展“噗浪”网,云惟彬独自从美国到加拿大多伦多设立公司据点,把原有工作及在美国的女朋友都抛诸脑后,虽然当时很难熬,但凭着本身理念,最后还是闯出一片天。
噗浪网在2007年11月上线,拥有20多种语言界面,在台湾、大马、菲律宾、新加坡等亚洲国家迅速窜起,目前全球会员达600万至700万人,台湾用户占其中50%。
网络创投钱最重要
云惟彬表明现在要先了解大马网络创业市场,才能决定在大马为什么领域出力。
提到如何培养网络创投能力,他指足够资金不可或缺:“很多大马人会写(网络)程式,但他们走不到下一步,因为缺乏资金,市场推广及建立人脉关系都需要钱,没钱什么都不敢多想。”
他强调,大马创业资本远比美国低,投资报酬率却很高。很多人不了解网络创业,即使有资金也不敢投入,宁可投资房地产或买金,这需再教育。

第三届中小企业大会•云惟彬:强硬推销引反感 网上软销更有效


(吉隆坡15日讯)如何把社交网站当经商利器?
噗浪网(Plurk.com)创办人云惟彬“教路”,他说,使用社群媒体不能强硬推销公司的产品,而是以真诚的心慢慢接触顾客,让使用者了解你的产品。
他指出,大家使用社群媒体主要是与朋友交流,若强硬推销产品将引起使用者反感。
他举例,一些艺人使用社群媒体与粉丝交流,做的很好。
“就如许茹芸、戴佩妮就是很好的例子,她们每天都会将自己的日常生活点滴及心情贴上网,真诚与粉丝交流。
社群网打广告会被骂
“一些艺人很明显是经纪人协助管理其网页,常常会推销本身的电影及唱片,粉丝完全没有感受到艺人的亲切感。”
云惟彬今日在马来西亚中华总商会第3届中小企业大会主讲“网络时代的品牌/市场:社交媒体如何改变我们的营运方式”时强调,若使用社群媒体打广告,必须有“会被人骂”的心理准备。
做得不好传得更快
“你做得好会传出去,你做的不好会传得更快。”
他劝请业者,即使本身有道理,也不能在网络上与投诉者争论,因为不管输赢,大家都在看。
“使用社群媒体打广告可以专注你的顾客群,也可以知道顾客的回馈,再加以改善。”
他说,现在每个人都在使用社群媒体,年轻人花很多时间在网上,因此不管想不想都要经营。
“网络时代品牌/市场:社交媒体如何改变营运方式”
主讲:噗浪网(Plurk.com)创办人云惟彬
主持:中华总商会资讯与通讯工艺组主任黄哲强





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

Monday, 28 November 2011

Jeff Hoffman Vs Naval Ravikant

Silicon Valley come to Malaysia Conference has ended more than one month. I am a slow learner and still digesting what happen at the event one month ago.

A lot of publicity on Naval Ravikant of AngelList. Malaysia business weekly The Edge feature an article on Naval speech and Malaysia's radio station also BFM89.9 also interview Naval.

In his keynote. Naval said  not to pay attention to idea, as they are irrelevant today. "Ideas are worthless as many can just sit around and think them up." Naval said he choose a team base on the team Intelligent during his interview with BFM89.9. That doesn't sound encouraging if your company never choose as top 100 company or never selected to one to one session. There is more than 500 team participate at Silicon Valley come to Malaysia Conference but only 100 choose as top 100 and less than 50 team has been chosen for one to one session with Silicon icon. Thus, Naval mean that there is at least 400 team or 80% of less intelligent team here. That doesn't sound motivated especially if your team never been selected.

Another icon from Silicon Valley Paul Bragiel of I/O Venture speak more specifically during his interview with Entrepreneur.my. Paul said the team must comprise strong technical people. A person who able to develop software as a team member. That sound better than Intelligent if your team never chosen and your team doesn't have a technical software developer.

The most inspires speaker are Jeff Hoffman of Priceline.com. Jeff Hoffman said he has opportunity to meet with a lot of icon in traditional business. However, after speaking to those icon. He don't feel those call icon are smarter than you and me. That sound motivated.

Feedback survey by organiser also show that Jeff Hoffman has been voted the most motivated speaker of the event

Thus, it is worth watching his speech again even it last for more than one hour. Jeff also shares his entrepreneur journey at his keynote. Only two speaker did that. Another one is Joel Neoh of Groupon Malaysia. Apparently, Jeff Hoffman also not a technical software developer, at least not a skillful one.









Surprisingly, many people, even those who selected to have one to one session with Jeff do not know that Jeff operated a venture capital firm Smith-Hoffman Capital. What a watse that they never did their homework. If you do not have time to watch the above video. It worth reading this blog coverage as well



Also worth watching his Q&A session





Another icon Saad Khan of CMEA Capital, ask participate to email him if their start up fullfil the following 3 criteria :

1) Rewrite the rule

2) Never say die

3) Inspire




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.
Your Life Your Legacy