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1AES: GSY Asean [Final Pitching Session]

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1AES: GSY Asean [Final Pitching Session]

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Judges Responses:

1. Why now? Why is your idea and opportunity etc. - Explain why it is the right moment to do it now?

2. To solve a problem: Try to think out of the box that is innovative rather than what others have done.

3. Companies that scale to other regions (cross border projects; teams from different nationalities)

4. Impressed by the focus on social impact.

5. Think about what is it that you want to talk about? (Some of the teams talk about problems and some talk about operations)

6. Work on presentation skills and how you want to present your idea.

7. Ideas that are sometime good/awesome are not picked up because it is not visualized properly.

8. Kudos for giving awesome presentations despite only at young age.

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THE LEAN CANVAS:

Interesting document on how to use the lean canvas for your ideas || projects:

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Session: Inspirational Startup Stories

Matt Chandran (iGene)

1. Motivation: Inspired to have a better life.

2. "Remember the past but don't want to go back"

3. Focus on the highs rather than the challenges ( do what you want to do rather than thinking of the challenges you have to face)

4. Shared how his vision changed him to be a better person.

Jawaher Al Kuwari (Jo La Mode)

1. What's it like in Qatar: A lot of ladies are doing their own things; only not exposed

2. Started a business to show other women that they too can represent themselves.

3. Highs & Lows:

Linking between managerial & creative people. Keeping the vision, identity mission the same.

4. Share the vision with aspiring business women.

5. Document your ideas and have a backup plans.

Adele Burns (YouNoodle)

1. Motivation: Connect entrepreneurs

2. Keep the value at their core; make sure all the team members have the same value.

3. Highs; & Lows:

Closing a contract (the best feeling - knowing that they can continue with what they love doing)

Cannot sleep at night: Thinking how to sustain the business; having money to roll out next paycheck.

4. Over the years,less focus on personal achievements; more on fostering other people; taking care of other people.

5. Run with your idea that you are passionate about and attack your idea in every way possible (validate it): GO FOR IT!

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Session: Challenges of Scaling Your Startup in ASIA

Cheryl Yeoh (MaGIC):

1. E-commerce is a big thing in ASIA.

2. 140% penetration in Malaysia for mobile.

3. Credit card penetration not that dominant.

4. Launch in local market. ( see how it grows)

5. Pitching tip: show that it can approach a bigger market; besides local grounds

6. Failure should be a badge of honour

Hugh Mason (JFDI):

1. Rising to the middle class

2. Challenges (different languages, currency etc.)

3. Attain certainty: show that you make it at home but have a vision for expanding

(like driving a car; see what's 500m in front of you)

4. [ASEAN Startups in 5 Years? ] Hopes for linkage between old corporations with the energy of startups.

Baba Shiv (Stanford Business School):

1. ASIA - Social Platform

2. ASIA - Consumer led compared to Silicon Valley which is more towards 'provide solutions; finding problems'.

3. Rule of thumb: Tap one market unless market is homogeneous. [startup launch]

4. Try to find not only investors but strategic investors that can help to scale startup.

5. Dangers of incubators/accelerators: Sometimes restrictions are set that cause setbacks for a startup or helpers get confused (not familiar with local culture where startup is based)

6. Benefit of incubators/accelerators: Help fasten the process to launch and grow. A lot of help and guidance; avoid making unnecessary mistakes.

7. Setback for ASIAN Startups from observation: Failure is not as accepted as in other regions.

8. [ASEAN Startups in 5 Years? ] Optimistic about the future!

Nina Teng (MyTeksi):

1. [How GrabTaxi achieve penetration outside Malaysia market?] Great team with the same mission.

2. Scaling: Hire local team members who understands the culture.

3. Go above and beyond : She learned Thai to understand the people better.

4. "Whenever you are a follower, It's hard to be the leader" - Response when asked how the company deals with competitors/incubators@accelerators that use the same model

5. [ASEAN Startups in 5 Years? ] 1ASEAN. Think big; limitless and borderless.

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Session: Spotting Opportunities

(William Hsu)

1. He shared stories how he solved a problem that he was facing back in college and turned it into a startup.

[Shows how a solving a real problem is key to a successful startup venture]

2. Mentioned that he likes to experiment and some of his ideas did not take off because his co-founders were not the same page.

[ Importance of having a team with the same values/views]

3. It is okay to fail.

4. Commitment is key. [ When he was expanding his first startup, it took a lot of his time. He had trouble juggling between college and his startup]

5. College time is the best time to experiment because you have a lot of free time to do stuff ( he interned at several companies; made him realize that he has no passion for a 9-5 job || he started a few other startups; some took off and some don't) so make full use of the time.

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Advice from Mentors:

[Brainstorming]

1. Focus on the real problem; then the solution.

2. Don't try to solve everything at once.

3. Think of something that is do-able/achievable for first time launch but can branch out in later phase.

[Pitching]

4. Don't ask questions to the audience; instead ask a rhetorical question (The audience might not answer like what we expect them to and this can mess with our minds. )

5. Don't pitch as if the judges or audience are clueless; you waste time explaining things that they already know. Instead, highlight the main ideas and make them visualize the problem or solutions in their minds. (That way they can connect with your pitch better)

6. If nervous, focus on one person; then another person. Don't let your eyes wander around; you will lose focus and you might mess up your words etc.

7. Practice your pitch! More practice equals more confidence.

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Hugh Mason (JFDI):

1. Ideas --> Prioritize --> Implementation --> Product/Services

2. Innovation by discovery

Jaygan Fu (MyTeksi):

1. "Disrupt or be disrupted"

2. Solve a real problem.

3. Do the small things right.

Useful links shared by the mentors and participants to help improve our pitching skills:

1. How Great Leaders Inspire Action: http://goo.gl/WJPKzG

2. Justin Wilcox - What To Ask: http://goo.gl/lB2HPg

3. The Art of The Keynote: http://goo.gl/MslIhP

p/s: Attached is William Hsu's slide on "How to Build Great Startups"