Discussion Panel: Starting up in Singapore: the Good and the Bad [LIVEBLOG]

This post is a part of our coverage of Startups in Asia (Singapore), Penn Olson’s first tech conference. Our full coverage of the event can be found here, for our RSS feed, click here.

Summary

Nicholas Aaron Khoo (from CNET Asia) is the moderator, chatting with Zaki Mahomed (Game Ventures), Alvin Yap (TMG), Sanjay (Replaid), and Bernard Leong (Chalkboard)

Liveblog

#11:09: And a last few observations: Zaki says that the Singaporean government is awesome in the way it frees startups from worrying about annoying details, allowing them to focus on the team/product, etc. Alvin concurs: it’s a lot easier in Singapore, full of people who can go global, speaking English and Mandarin. Plus, Singapore has a great standing in the region.

Sanjay says the city state is very efficient, plus the food rocks. While Bernard adds that “the government is always on your side” and allows you to bypass bureaucratic issues that way down teams in other countries.

And that’s a wrap! Thanks for following the chat.

#11:05: A final question from the floor here at Startups in Asia: how would you allocate funds if you’re investing in some team? Zaki says you need to look at people first, and how tenacious they are. Alvin says it comes down to investing in the entrepreneur who’s most energetic in market because that can give its product traction, which is insanely important.

#11:02: What would Alvin do differently if he could go back in time (a question from Twitter)…? He says you need to learn and get your ass kicked everyday, and he wishes he realised that earlier. That might’ve helped him to work faster and get deals done.

On a final note, Zaki chips in to say that speed truly is of the essence, and when you look back you’ll often regret not having done more. So, he says, learn to move as fast as you can, and to delegate more.

#11:01: Bernard says that entrepreneurs need two distinct support groups: an understanding family, and mentors. Friends, though, can often be more of a hassle, putting peer pressure on you to earn more or be in a more traditional job.

#10:55: Nic the moderator next asks about surviving in the local market. Bernard says that Singapore can be used as a test market in which you grow through a few hundred or thousand users, and then you can scale from there, reaching out to thousands of business, such as going next to Kuala Lumpur, which is the way that his Chalkboard company did it.

Alvin says that the city state gives you the chance to learn, and, yes, to test. With such a high smartphone penetration, it’s an opportunity to be the number one in the market, especially as you might understand them better. “Focus on what you can be number one at,” he adds.