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| Source: National Research Foundation, the organisers of Techventure. From left: Foo Jixun, Managing Partner at GGV Capital; Chris Wade, Venture Partner at Octopus Venture/Entrepreneur First; Richard Webb, the CEO & co-founder of Start Mesh; and Paolo Borella, Founder of Vertical, the Health, Wellbeing & Wearables Accelerator. |
The first panel discussion at Techventure 2015, the premier technopreneurial platform for global venture capitalists, entrepreneurs and startup founders from around the world, consisted of renowned venture capitalists and accelerator experts talking about current global trends in technopreneurship.
The panel was moderated by Tim Lafferty, COO for Global Corporate Venturing at Mawsonia, and featured Paolo Borella, Founder of Vertical, the Health, Wellbeing & Wearables Accelerator; Chris Wade, Venture Partner at Octopus Venture/Entrepreneur First; Richard Webb, the CEO & co-founder of Start Mesh and Foo Jixun, Managing Partner at GGV Capital as panelists.
His company, for example, is also providing HR and PR services to start-ups. GGV Capital has been investing in shared economy startups. The list on the company's website is a who's who of Web 2.0, including Airbnb, the Alibaba Group, Flipboard and Grabtaxi.
He noted that people in Singapore with startup ideas can easily get seed funding here and start their businesses. He also observed that the fear of failure is not as prevalent – which is crucial for the innovation mind-set, he said.
Webb is putting his money on the enablement of crowd-sourcing marketplaces. He observed that people do not want to be pigeon-holed, and may find it more fulfilling to work in completely different fields at the same time: a lawyer one day, a fashion model the next. He also feels that cybersecurity will be important going forward, and molecular biology.
Webb recommends Singapore as startup hub, with the country ideal for the 'mid-stage' of the startup continuum. The mid-stage refers to the phase after graduation from the incubation lab but before sustainable profitability, he explained. "Almost 96% of failures occur between those two phases."
The panel was moderated by Tim Lafferty, COO for Global Corporate Venturing at Mawsonia, and featured Paolo Borella, Founder of Vertical, the Health, Wellbeing & Wearables Accelerator; Chris Wade, Venture Partner at Octopus Venture/Entrepreneur First; Richard Webb, the CEO & co-founder of Start Mesh and Foo Jixun, Managing Partner at GGV Capital as panelists.
Foo identified on-demand services, the shared economy, drones and the Internet of Things (IoT) as trends which could change the world in a big way. “It's bringing people closer
together,” he said. “There's a whole lot of decentralisation
going on as well. In the past everything had to be managed in one
location, it's now more distributed.”
Applauding Singapore’s Smart Nation initiative, Wade said that it is about big ideas, and big ideals. “Fundamentally, the ingredients for a vibrant economy are people with the drive to make a difference. It is about passion,” he said.
He noted that people in Singapore with startup ideas can easily get seed funding here and start their businesses. He also observed that the fear of failure is not as prevalent – which is crucial for the innovation mind-set, he said.
Webb is putting his money on the enablement of crowd-sourcing marketplaces. He observed that people do not want to be pigeon-holed, and may find it more fulfilling to work in completely different fields at the same time: a lawyer one day, a fashion model the next. He also feels that cybersecurity will be important going forward, and molecular biology.
Webb recommends Singapore as startup hub, with the country ideal for the 'mid-stage' of the startup continuum. The mid-stage refers to the phase after graduation from the incubation lab but before sustainable profitability, he explained. "Almost 96% of failures occur between those two phases."
“We have 14,000 incubation labs in the world,” he added. "Universities and private enterprises are doing it but the problem is that there is no real home to validate the ideas of those who graduate from the incubators. That’s where Singapore can play a role and take the startups to validation and profits.”
Borella agreed with Webb on the trend for incubators, but observed that there is still value for corporates to come on board and help companies scale up. He added that data from sensors could change the face of technology. "That data can be used in cloud
platform to eventually predict so we can improve the life of people," he said.
Interested?
In its 19th year, Techventure runs from 21 September to 22 September 2015 at the Marina Bay Sands Convention Centre. The event hosts 900 participants from seven countries, comprising more than 160 startups and 50 investors, plus 19 organisations.
Read the TechTrade Asia blog post on the opening address
Interested?
In its 19th year, Techventure runs from 21 September to 22 September 2015 at the Marina Bay Sands Convention Centre. The event hosts 900 participants from seven countries, comprising more than 160 startups and 50 investors, plus 19 organisations.
Read the TechTrade Asia blog post on the opening address
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