Today wanted to do an executive summary for the start up singapore, but ended up not doing .
The reason because of the following article I found on the start up @ singapore
What kind of entries go into my rubbish bin?
It’s always intuitive to tell people what cannot work in such competitions. The same advice can be applied to the kinds of the companies which I am interested as an angel investor. I have heard pitches and will not bother to reply to pitches with “me-too” ideas. Here are the features in those entries which often end up in my trash can:
- Something which you can do it yourself without going into this competition: If you write an executive summary about starting an internet cafe, a restaurant, a consultancy, a chicken rice stall or etc, it is 100% without fail that your entry will not make it to the next stage. If you want to start a service startup using existing business models, forget it too. If you feel angry and disappointed with such decisions and your philosophy is that of entrepreneurship can mean the starting of small businesses, my reason to your gripe will be, “This is not the kind of entry that the business plan competition is looking out for. Since you do not understand what the market wants, why are you taking part in this competition?” In short, these businesses can be started by yourself, and I will strongly encourage that you do it yourself. I know that my co-founder, Weichang often start such businesses without taking part in such competitions. If he can do it while he was sick (with cancer at one point of time), so can those people who are healthy and wants to start their own enterprises.
- Systems don’t work: This is one that I heard from a fellow judge. If you are planning to integrate services from three different portals or build a product based on three existing patents into something that can be done by anyone, it is also out. It’s very simple to give an example on this kind of business plan. Remember the dot com bubble, when people talked about integrating web services to create online stores to sell bicycles. If that is not enough, this is what an inventor told me, “I want to create a new music player made out of a component from this company and that company.” My immediate response to him, “Do you realize that you have just infringed twenty patents from twenty MNCs?
so I rationale loh never write , I should written or just my time to study.
Today training was good , did set of striking never knew that running have to involved so many knowledge.
thats all for today tired lei… hopefully the Alpha investment boot camp will be ready on 12 march.