Meet the Techgoondus: March 10th
Interested in free publicity? Techgoondu is organizing a “Meet the Techgoondus” session next month on March 10th (Tuesday) for tech startups in Singapore.
The reason we’re doing this is because start-ups make for great stories but often they don’t get enough notice. Also, it’s a fun way to build a bottom up grassroots tech community in Singapore.
First, a group picture of who we are. Wanted to find a way to tag individuals, like in Facebook, so I used Phlook. For those that have not heard of them, Phlook is a pretty cool Singapore-based social platform start up that allows you to manipulate and share photos.
Use the “notes” function in the sidebar to see the tagging.
A photo of the Techgoondu folks in our last meetup where this idea was hatched. Unfortunately, both Roland and Stephanie are missing.
Lifted directly from the Meet the Techgoondus event on Facebook:
Details
Host: Chi-Loong
Type: Meetings – Informational Meeting
Date: Tuesday, March 10, 2009
Time: 7:30pm – 9:00pm
Location: Geek Terminal, 55 Market Street, #01-01
City/Town: Singapore, Singapore
Email: chiloong@techgoondu.com
Description
- Interested in getting free publicity for your Singapore technology start-up?
Meet the Techgoondus! Techgoondu (www.techgoondu.com) is a tech blog run by a bunch of ex and current journalists and we’d like to meet you! You might get featured in social media AND traditional media if your stories are interesting!
All you need to do is to show up. No dress code. No cover charge. Just a mingle with folks who have a love of technology and all things Singaporean.
It’s best if you can demo something, so bring your laptop or mobile and show off your stuff!
Please send me a request if you’d like to come via Facebook or email. We’d like to keep the session small and informal, with a group size of about 20. Target audience will primarily be Singapore tech start-ups, or PR agencies and tech vendors who have an interest in this space.
And finally, a big thanks to the Geek Terminal folks for letting us use the place!
I’d love to join your Meet The Goondus!
cya on the 10th!
[...] via Meet the Techgoondus: March 10th | Techgoondu. [...]
Very well written piece! And yes! We startups need all the support and mentorship we can get. If local government or companies doesn’t support local startups, who will?
Thanks for this post. Hope more enterprise will start looking out for potential ones to work with.
This comment was originally posted on http://www.youngupstarts.com/)“>Young Upstarts – Voice of A New Business Generation
Looks like this problem is the same everywhere especially in Malaysia. I thought only Malaysian startups have this problem. I guess it is not longer a right perception. Well, maybe what we could do is to try to bring greater collaboration between Malaysian and Singaporean startups especially more so during these challenging times.
This comment was originally posted on http://www.youngupstarts.com/)“>Young Upstarts – Voice of A New Business Generation
Love to meet ya all, see you guys tonight
Hi Claudia,
Thanks for your compliments! Entrepreneurs also have to do their part… I will be sharing more on this in future posts.
This comment was originally posted on http://www.youngupstarts.com/)“>Young Upstarts – Voice of A New Business Generation
Hi Andrew,
Collaborations between Malaysian and Singaporean startups will be ideal in helping both flourish. If you have any ideas how we can do that, do share!
This comment was originally posted on http://www.youngupstarts.com/)“>Young Upstarts – Voice of A New Business Generation
MICA seems very happy to use foreign tools for media analysis. They wouldn’t consider using locally made ones unless their budgets get slashed and that makes them start looking for help.
At that point in time, they will turn to india and china. Singaporeans do not provide value for startups. Even hosting is expensive in Singapore (thanks to electricity prices)
So unless the startup makes money in 6 months, its unlikely that it will survive and thrive. Sim Wong Hoo has enough problems of his own. He might be looking for a job soon. There are no other mentors to speak of with suitable experience and a willingness to lend their names to a startup.
This comment was originally posted on http://www.youngupstarts.com/)“>Young Upstarts – Voice of A New Business Generation
Hi “MICA”,
Thank you for your comments, but hiding behind a pseudonym while making unsubstantiated comments is somewhat cowardly. I’m sure you’ll sound a lot more credible if you put down your real name instead.
1. Most of the private and public sector use “foreign tools” for media analysis, because at this point there is no equivalent local option that compares to a Factiva or CISION.
2. Turning to China and India for media analysis – I assume you are generalizing here.
3. Hosting in Singapore is expensive is because of electricity prices? I am not sure how that relates, perhaps you can enlighten us.
4. Sim Wong Hoo doesn’t need a job; he has more money than he knows what to do with it. I reckon he has little interest in lending his name to startups in any case.
This comment was originally posted on http://www.youngupstarts.com/)“>Young Upstarts – Voice of A New Business Generation
Hi there,
I agree that the environment here is not as conducive for startups, relatively to other parts of the world but we have to start somewhere
For your #4 point, we (as in MDA) are trying to help by bundling and bringing our startup to agencies and national events for adoption. For example:
- in this year National Day Parade, the committee has decided to use 8 of our funded projects
- In the upcoming Youth Olympics, 2 of our projects have also been selected
- we are working with Singhealth, NHB, JTC and SLA to promote the adoption of our projects within their sectors. NHB for example is working on a virtual Temasek with one of our supported companies (magma studios).
Beyond what you have stated, I think we can do more to build up the ecosystem.
1) creating opportunities for young startups to leverage on the market access and the promotion capabilities of bigger companies such as Singtel, Apple et al
2) providing technologies for startups to build their competitive advantage upon
3) provide access to private funding from angels and VCs, and in the process, helping startups to find good mentors
The ecosystem definitely needs more shaping and supporting but I am happy to see our startups, our incubators as well as ourselves working towards that goal.
This comment was originally posted on http://www.youngupstarts.com/)“>Young Upstarts – Voice of A New Business Generation
Hi Aaron,
I am heartened that the civil service is finally walking the talk. However, we need to extend acceptance beyond a mere project – correct me if I’m wrong, but the deal is likely to be once-off. But yes, progress is being made and we should be thankful.
Your points are well taken, and I fully agree. I’ll address these points in future blog posts.
In any case, please keep me in the loop and add me to MDA’s media list if you please.
This comment was originally posted on http://www.youngupstarts.com/)“>Young Upstarts – Voice of A New Business Generation
Hi Daniel,
Quite a timely article. Singapore’s potential is indeed stagnating in this regard. There is a vicious circle here. Startups don’t generate excitement with the investment or media community because there aren’t enough homegrown success stories here… and that in turn limits the potential of those who could have been successful.
Either VC/Angel investors from overseas will have to set up shop here (like they are doing in India) and jumpstart the engine, or else we will have to wait for a handful of headline grabbing success stories that demonstrate the possibilities out there.
This comment was originally posted on http://www.youngupstarts.com/)“>Young Upstarts – Voice of A New Business Generation
[...] a big thank you to the folks who took time out of their busy lives to come down for our first meet-the-techgoondus event last night. We hope you had fun, learnt something, and made some useful [...]
Hi Daniel,
I came across your blog from while browsing tomorrow.sg. I think you’re totally right in your observations and I wish more can be done to boost the entreprenuerial scene (internet startups in particular) in Singapore.
In addition, and I don’t have any hard facts on this, I would think the lack of exit potentials by way of either acqusitions from bigger companies or through an IPO (so web 1.0) is a big factor in the dearth of tech startups. Also, you (the entire team really) got to have mad skillz to successfully pilot a startup from incubation to exit; talent that is all too often snapped up by the banks and other MNC’s. I also get the feeling by observation of my fellow peers that the risk/return profile of being a tech entreprenuer simply does not conmensurate with the expectations of the ‘instant gratification’ attitude that seems to be the case with the current generation.
Nai
This comment was originally posted on http://www.youngupstarts.com/)“>Young Upstarts – Voice of A New Business Generation
Hi Nai,
You are absolutely right about exit potential, although the first barrier startups here face is really market acceptance. Without a successful portfolio of customers (revenue potential) or even user adoption, startups are most unlikely even to attract the attention of investors – much less buyers!
Your point about our ‘instant generation’ is a poignant one. I’d blame our nation’s “growth at all costs” approach, but that may be a bit simple (and worthwhile of an entire series of posts).
There are those who buck the culture, I’m happy to say, and I’m glad I count some of them as my friends.
This comment was originally posted on http://www.youngupstarts.com/)“>Young Upstarts – Voice of A New Business Generation
Hi Nai,
You are absolutely about exit potential, although the first barrier startups here face is really market acceptance. Without a successful portfolio of customers (revenue potential) or even user adoption, startups are most unlikely even to attract the attention of investors – much less buyers!
Your point about our ‘instant generation’ is a poignant one. I’d blame our nation’s “growth at all costs” approach, but that may be a bit simple (and worthwhile of an entire series of posts).
There are those who buck the culture, I’m happy to say, and I’m glad I count some of them as my friends.
This comment was originally posted on http://www.youngupstarts.com/)“>Young Upstarts – Voice of A New Business Generation
Hi, I came across this post from Tomorrow.sg. This is all from my personal POV and I’m not really an entrepreneur kind of person so forgive any ignorance displayed.
I think the problem here is really that there really aren’t that many successful private companies in Singapore that can provide the sort of mentoring that you talk about. Particularly in the technology field. Besides Creative Technologies which as I understand is quite troubled right now due to a lack of demand for their goods, there aren’t any technology companies in Singapore which can be called a household name.
Also if one looks at the development of most technology startups from the 90s till now in the US, most of them were a combination of people with the ideas(Sergey Brin and Larry Page of Google) with someone with the money and business acumen(Eric Schidmt). But as readers have noted above, without a few successful examples, it is difficult to attract the attention of such VCs. This is especially a problem for Singapore due to our small market. Why would a VC set up in relatively high cost Singapore where the entrepreneurial culture is not very strong instead of China/India?
Therefore, I believe that the government should give a helping hand to these companies if they are to succeed. However, the way in which the government intervenes can become problematic as well. A move to go local might create a dependency on lucrative government projects. They might then become another version of GLCs and the government’s already large share of the economy will increase further.
I’m not sure if this is already being done. Perhaps, the EDB and IE Singapore should strive to become more friendly to such startups and offer a one stop bureau where startups can be coached on the business side of things and matched with companies offering services like PR or legal advice.
And as much as the media should try to seek out startups, should such start ups also not be proactive about this media coverage thing and seek out the media? Should it not be imperative upon the startups as the people who benefit ultimately from such media coverage to make sure they get it?
This comment was originally posted on http://www.youngupstarts.com/)“>Young Upstarts – Voice of A New Business Generation
Hi Abel,
Thanks for your input.
I’m sure many of the government agencies are acutely aware that they need to help many of our fledgling startups. The key issue is how – without carrying all their financial burden and taking on all that risk. Plus it defeats the entrepreneurial spirit!
A one-stop bureau is available in Business.gov.sg, which is a great platform and resource for new businesses.
And yes, startups need to help themselves when it comes to publicity, which is why I wrote this: http://www.youngupstarts.com/2009/03/12/do-yourself-a-favor-startups-and-get-yourself-media-ready/
This comment was originally posted on http://www.youngupstarts.com/)“>Young Upstarts – Voice of A New Business Generation
[...] Singapore media who are interested to write about local startups are few and far between – such stories are rare and on an ad-hoc basis. Very few, like Hedirman, actively seek out startups to write about. That’s one of the key reasons why I have this blog in the first place, and why the folks from Techgoondu.com has to do this. [...]
Hi Daniel,
Kudos on an excellent article. Posted your article on my blog as I thought more readers should get to read it, hope you don’t mind.
Anyway, my comments and points of view below:
1. Lack of Specialized Services catered for Entrepreneurs
There are multiple government agencies providing grants and fundings for various start up activities but as you correctly mention, there are no specialized services or should I say creative services catered for start ups. I just posted an article on my blog about the Australia government assisting their own mobile start ups to New York to do their sales pitch to a group of targeted buyers. This is far more valuable than a 50k funding from MDA.
2. Where are our Mentors?
It’s a fact that there are not many big success stories coming out of Singapore, however, its the herding theory that is missing in us Singaporeans. The Taiwanese are so successful in China not because they are smarter but they stick together and support each other, they move as a pack, collectively they are much stronger and gain more attention. This is what is severely lacking in Singapore.
3. Publicity and the Media
Press? What press? Can barely recall the last PR or article I read about promising start ups, the best we get usually is about those that have made it, we really need to write for those that can make it or even if we don’t know if they can, we need to give them a shot at stardom.
4. Market Adoption
Couldn’t agree more with this. Local start ups almost don’t get any opportunities with our civil services. Take the example of Gebiz, our government bidding system. The size of the projects you can bid for depends on the amount of paid up you have, this basically strikes off all start ups. Of course in reality, civil servants will be reluctant to give projects to new start ups for fear of failing. Perhaps this is where supporting agencies should come in to give that assurance of support for our very own start ups.
This comment was originally posted on http://www.youngupstarts.com/)“>Young Upstarts – Voice of A New Business Generation
Good points mentioned there Alex. My comments on some of your points
1. When I was in SV working at istorez.com, I remember my CEO working with a PR agency to get our press release out. We could afford this because we were venture funded, and it made sense since the US market is huge, the number of potential media agencies picking up your story is aplenty and it wouldn’t be feasible for the startup to manage this effort. However for SG, startups don’t have that many areas to reach out to. It’s mostly blogs, grassroots sites like e27 and the local newspapers (TODAY, Straits Times, Business Times etc.) The effort required here is so much less than US .
2. I totally agree with this but it’s a chicken and egg problem. The industry here needs great mentors and leaders to help to grow startups. There’s so much the government can do from a funding angle and you need mentors who have been there and done that.
3. This trend is increasing. Techgoondu efforts were admirable (i was at their event) and this has been done by TDM (Popout), e27 (unConference) and SGEntrepreneurs (interviews, startups feature). The other issue too is that there just aren’t that many interesting startups to talk about and since there are already so many blogs covering them, the likelihood of more popping up is rare.
4. This is something else I wholeheartedly agree with! The market here is too small, unless your product is extremely niche. But sadly, the SEA market isn’t that easy to penetrate due to cultural differences, language barriers etc.
My 2 cents
This comment was originally posted on http://alextoh.wordpress.com/)“>A Singapore Entrepreneur’s Insights…
Thanks Mohan for the props to Techgoondu in your point 3.
On the publicity front, I feel that the main problem is that a lot of folks don’t understand it (seriously!) and what it can be used for. It’s not about one medium like social media (or ads or traditional media) but its about telling a story that resonates with an audience you want to reach.
I can say this having both a background in media and comms. Publicity is very useful, and is cheaper than ads, but it requires work and discipline. Sustaining a blog is hard. So is networking at events, writing a press release etc.
The problem with start-ups is that many don’t know how publicity can be used and its value is hard to grasp immediately. It does not fly unless you can tell a story (and not just “I’m a start-up! Whoo! look at me and cover us!”) that resonates.
This comment was originally posted on http://alextoh.wordpress.com/)“>A Singapore Entrepreneur’s Insights…
I think using the word ‘ecosystem’ in this context is grossly disturbing.
This comment was originally posted on http://alextoh.wordpress.com/)“>A Singapore Entrepreneur’s Insights…
Thanks for posting these useful information. Keep them coming
This comment was originally posted on http://alextoh.wordpress.com/)“>A Singapore Entrepreneur’s Insights…
[...] Singapore media who are interested to write about local startups are few and far between – such stories are rare and on an ad-hoc basis. Very few, like Hedirman, actively seek out startups to write about. That’s one of the key reasons why I have this blog in the first place, and why the folks from Techgoondu.com has to do this. [...]
Hi Dan,
A very good article and discussion thusfar. Here are my 2cents. With regards to your 4 points above.
1. Lack of Specialized Services catered for Entrepreneurs
Since we have no ecosystem, and we will probably not have one for 10-15 years that will be so called an “ecosystem for startups”, we need to take it as it is. Singapore will never have a niche legal firm specializing in structuring term sheets for startups and also have VC fund lawyers drafting their PPMs like Wilson Sonsini and 2-3 other notable firms in the Valley. We have to “make do”.
As long as we can identify 1 practitioner in each service field who has experience with startups from PR, Legal to HR are good at what they do, we are good to go.
Solution: Find these practitioners, get referrals, and rank the top 10 with a certain metric/methodology and publicize who they are. Put this list and reviews/comments on a PORTAL (see more below).
2. Where are our Mentors?
This is indeed a good question. We do have tech entrepreneurs but they have started years back in industries that don’t mean much to Gen X entrepreneurs anymore. Which means we don’ t have our version of the Paypal mafia (entrepreneurs I mean) funding the latest startups out here or anywhere for that matter. However, we do have Singaporean VCs who are “in the know”, for that we need to dig them out. e.g. would be David Su from Matrix Partners in Beijing, solid investor but a bit skewed to the Chinese market.
We just need to round up people who are “in the know” about sectors that are driving the next wave of change, whether its digital media, mobile apps, energy technology etc. The truth is, the best mentors for us are not based in Singapore, we need to reach out or form a panel of some sort.
Solution: Put together a mentor list (not limited to Singapore – infact start with the Valley). We can call it a special name or a Panel of sorts, and if possible get Spring/IDA/MDA to fund the setup of this. We just need to put the budget and system in place. The Panel:
1. Can meet virtually once very quarter to give feedback on policies by Spring/IDA/MDA and give constructive feedback for startsups who are filtered and have presented their ideas. This will be much more constructive than pitching at BANSEA or pitching to mentors of MDA iJam (who are not exactly the people you want to give you feedback with due respect).
2. Host startup/members visits in the Valley, and introduce right people/network to them. We have no time to BS or do “feel good” trade missions, just go straight to the point. Entrepreneurs need advice, feedback, and capital if needed, no time to waste.
3. Publicity and the Media
I agree with you on this. But with Techgoondu and Youngupstarts, and the other sites leading the way, we can get there to provide the latest information for people who are interested. A RedHerring or FastCompany Singapore style? It can be done but the best way is to put a PORTAL together to be the PLACE to go to find information.
4. Market Adoption
Truth be told. If we start innovative disruptive companies, it don’t matter where we are located. If we start, a me-too company or a Singapore version of something else, the market size alone will eat you alive. If you want to shoot, please shoot for the stars. The world is smaller than you think. Just do it properly the first time, you will get market adoption from all over the world. Once that is achieved, rest assured, risk capital/mentors/govt subsidies will come knocking.
PORTAL
How about working on a PORTAL to aggregate news/blogs/sites together, plus set up a REAL community platform to share ideas etc. We can also aggregate various financing options (free & risk capital options), mentor platforms, etc. We can do this all online. One place to go, no government involvement except information support, sponsorships/banner ads.
We need to be privately held, independent with fair bit of support from the govt agencies.
Aggregate all of the above plus more onto this platform, and start from it.
You won’t know till you try.
Anyone interested in this endeavor, please email me, we can take this off line. Cheers.
This comment was originally posted on http://www.youngupstarts.com/)“>Young Upstarts – Voice of A New Business Generation
Hi Daniel,
This is a very interesting and relevant topic you have talked about!
I was previously an intern at MTI under the enterprise division, and am currently thinking to go into a venture this summer break (I am still an Undergraduate).
I agree that there is a lack of ecosystem in terms of specialised services to help jumpstart start ups. While Singapore is still a small country, it seems that our small geographical area has no created a aggregation effect which Silicon Valley has enjoyed. This is perhaps due to to the dilution of many goals the government has for this tiny red dot.
Market adoption:
While I was an intern, I realised the importance of having anchor customers, especially for the high-tech coys. If one considers starting from the local market, there are really very few big players that can serve this role for the new start-up. Furthermore, it is hard to expect the government to be an anchor customer if it does not even seek to fulfill any need of the government agencies. However, it is still useful to note that most government-backed (not as customers) SMEs/post IPOs do make it big in the international scene. Some examples are 77th street, CapitalMall/land etc.
Lack of mentors:
This is perhaps due to the lack of success stories in Singapore. And when i mean success stories, i mean business that are truly innovative to begin with and have grown from there. Much of our successful businesses started off with our pioneers mimicking what is offered overseas, and simply bringing it into our then underdeveloped nation. Furthermore, much of our economic development was based on us riding on foreign MNCs. Hence, with little experience in truly starting up, there is few local mentors around. However, the governemnt has started to realise this and embarked on several mentorship programmes in NUS and SMU. However, the quality of mentorship and extent of networks these programmes offer are still questionable.
Perhaps one more point to add to the lack of ecosystem: the need for cross-interaction between different industries/sectors.
As a current student in a university that is highly skewed towards business but less on technology, it is hard for aspiring entrepreneurs to develop an innovative product. The lack of technology background can lead to two worries: (1) having to copy other technology in order to start a business. This is non lucrative as it is likely the new startup will not be able to sustain its unique proposition. (2) the heavy reliance on others make it hard for aspiring entrepreneurs to know how to start. To share your idea and get a tech-guy to develop it? However, this might risk him selling your idea, unless you have such strong customer network that he has to stick to you. However, it is unlikely for youngsters to have such sales power.
Perhaps a summary of what is needed is: An aggregation effect of different specialised services, having a cross-pollination of ideas between different sectors, and finally, to have real mentors to guide the new entrepreneurs.
Hope this makes sense! As only 19years old, I am afterall a newbie is the scene
This comment was originally posted on http://www.youngupstarts.com/)“>Young Upstarts – Voice of A New Business Generation
Hi Sharon,
Thank you for your very well thought-through comments. I must say I am very impressed by your train of logic and analysis behind those comments.
Market adoption:
Most local SMEs, if they make it, do it through sheer grit. In 77th Street’s case, Elim Chew had to struggle a long time – 77th Street started in 1988, and only expanded to China in 2004 with support from IE Singapore and SPRING. That’s 16 years of sheer determination.
In any case, it’s a case of walking the talk. If the government agencies believe enough in the startups to promote them to others, shouldn’t they eat their own dog food too?
Lack of mentors:
Touche. In most cases, disciples can only go as far as the master. In our mentorship schemes locally, that means not very far.
Cross-interaction of sectors/industries:
1. Copying technology to start a business – Technology is not the end-all and be-all of business. It is a matter of applying the right technology with the right business model to the right market at a right time – and that is the difficult part. Think Creative vs Apple for MP3 players.
2. Reliance on others – It’s better to start something and own 50% than to own 100% of nothing? Everything in business is a risk.
3. At the end of the day, we need to consider the objectives of cross-pollination across industry sectors. It may make sense for a SME 500 company which has hit a plateau to look for ideas from another industry, but is unlikely to matter much to a new startup.
Most importantly, it is good that you’re already thinking along the lines of entrepreneurship at the age of 19. The future of our country depends on your enterprise and creativity.
Go and make a difference!
This comment was originally posted on http://www.youngupstarts.com/)“>Young Upstarts – Voice of A New Business Generation
[...] to get noticed and for their ideas to be heard. Events like the unConference, GeekCamp and the TechGoondu meetup sessions filled the need for entrepreneurs to meet up with developers and investors, where they could look [...]
Looks like i will be going down to look see look see.
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