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Azione Capital - Singapore Management University (Mensa And SMU Ventures) - Musings of an Accidental Venture Capitalist Presentation

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A presentation by Nicholas Chan of Azione Capital Pte Ltd, presented on 26th February 2008 at the Singapore Management University of Singapore, by invitation from Mensa@SMU and SMU Ventures.

A presentation by Nicholas Chan of Azione Capital Pte Ltd, presented on 26th February 2008 at the Singapore Management University of Singapore, by invitation from Mensa@SMU and SMU Ventures.

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Azione Capital - Singapore Management University (Mensa And SMU Ventures) - Musings of an Accidental Venture Capitalist Presentation Azione Capital - Singapore Management University (Mensa And SMU Ventures) - Musings of an Accidental Venture Capitalist Presentation Presentation Transcript

  • Azione Capital Pte Ltd Community Driven Business Acceleration Presented by Nicholas Chan Musings of an accidental Venture Capitalist
    • Nicholas Chan – Executive Director of Azione Capital Pte Ltd
    • Startup experience
    • Started first company on 21 May, 1996 as S.C.N. Technologies, achieved S$500,000 turnover in 2 nd year.
    • Started second company on 07 January 2005 as iFoundries (Asia Pacific) Pte Ltd, achieved 100% growth year-on-year, acquired 6 companies, obtained key accounts, introduced new OpenSource technologies to Singapore.
    • Started third company on 29 December 2006 as Azione Capital Pte Ltd, spotted and incubated 28 startups, exited 2 firms within 1 st year and 2 startups achieved infrastructure status.
    • Took over forth company on 02 August 2007 (Maritime IT and Communications) specializing in high-technology Research and Development in the Maritime sector.
    • Indirect startup experience (in advisory, partnership or mentorship)
    • Co-founded WhoWorksAroundYou.com Pte Ltd as Investor, Chief Scientist and Spokesperson in March 2007.
    • Mentored and invested in LocAsian Networks, which was selected as one of six fastest growing startups in Singapore (by Media Development Authority) for 2007.
    • Professional training
    • Diploma in Film, Sound and Video, Ngee Ann Polytechnic, Graduated in 2000.
      • Specializations in 3D graphics, Special Effects and Sound Engineering, additional minors in Marketing and Advertising.
    Introduction to me
  • My Entrepreneurial Journey
    • What would you fight for when you have nothing to lose?
    Where would you go when you have no way back?
  • There is always another way
    • The typical Singaporean startup perceived stumbling blocks
    • Inward-looking, “frog-in-the-well” isolated approach.
      • Unworldly-wise and inexperienced; Fix-my-own-problem approach.
      • Refusal to listen to facts and reason.
    • Lack of funds
      • No savings; personal network too “kiasee” to risk private investment.
      • Banks too risk adverse to fresh startups; personal financing options insufficient.
    • Lack of expert talent
      • Staff with specialized skillsets hard/expensive to acquire.
      • Assembling a team is an uphill task.
    • Lack of professional connections
      • “ young” in their professional network.
      • Many startups begin as employees or students.
    • Lack of facilities
      • No equipment or premises to work from.
      • No idea on what they really need.
    • You can afford to break even,
    Make every cent count but you cannot afford to lose. If it sounds too cheap, looks too cheap, it is cheap. Outsource intelligently. The greatest assets a startup has is in its spirit and its people.
  • Paralyzed by over-analyzed
    • Be uneducated, finding your way around
    makes the journey all the more worth it. If you see a problem, fix it… don’t assemble a committee to decide what your common sense can see. Reading tons of books on business does not make you an entrepreneur.
  • Do unto others…
    • A business is successful to the extent
    that it produces a product or service it serves, both clients and community. If you don’t have integrity, you have absolutely nothing built to last. that improves the lives of the people
  • Think Big!
    • Don’t limit yourself by thinking only of
    what you know you can do, Rather, think of what you never have dreamt possible, believe and achieve. While others benchmark themselves, aim to be the benchmark.
  • New Beginnings
    • How are you going to make the best out of this?
    Why would you want to walk along a path yet unknown?
  • Your idea is NOT unique
    • Just because it has some “functions”
    that the competition doesn’t, it does not make you a winner. Vending umbrellas + Ads isn’t a USP. Blindly running in a contrary direction while amusing, is also not a strategy.
  • The Team is Key
    • A great startup needs a team that believes in the vision of the visionary leader that does not stand in the way of the team.
    It is better to be on the battlefields of business, fighting alongside your comrades than sitting back at the air-conditioned command center making hypocritical comments.
  • Invest in your own firm
    • If you don’t believe in putting
    your money where your mouth is, don’t expect anyone else to do so. Stop looking for free handouts, start looking for a market, build on revenue and the rest will follow
  • Work with us
    • The best way to get started
    is to quit talking/reading/thinking and start doing. We VC have a role to play, not just in giving out cash. When you figured it out, that is when our relationship begins.
  • Take Action!
    • Many great ideas goes unexecuted,
    and many great executioners are without ideas. One without the other is worthless. If you are to do something, do it spectacularly or don’t do it at all.
  • In conclusion…
    • Action may not always bring success, but there is no success without action.
    • VCs are your partners, not “kai zi”.
    • Most people get ahead during the time that others waste time (ie. Blogging).
      • Telephone: +65 3112-1688
      • Email: [email_address]
      • Wikipedia: “Azione Capital”
          • Find me on the Singapore Entrepreneur Community
          • www.projectsenso.com