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Never Eat Alone: New Opportunities
- 1. Paolo Vigo – Andreas Janke – Siddharthareddy Karnati – Charles Marie
- 2. Introducing the Start-up…………1 Smart Objectives…………………….4 The Chosen Country……………….6 Porter’s Diamond Framework…7 Competitive Advantages……….11 STP Strategies………………………..14 AGENDA PART 1 PART 2 Entering the Foreign Market….17 Marketing strategies………………20 Marketing challenges……………..24
- 4. 16 current employees French startup founded in 2015 App available in France and the USA €1.3m fundraising 1
- 5. Fix a date to meet Send messages to keep in touch Match coworkers with common interests Create or join meetups 2
- 6. 3
- 7. NEA will seek to get 70 more clients NEA has to get in touch with 2 clients every week Direct face to face meetings with CEOs, local TV interviews, billboards, summits Gaining new clients increased revenue and brand awareness in targeted region Within two years 4
- 8. Work on a special feature for people from different companies to meet each other Increasing the application traffic App developer can design this new feature in the app Increased interest in the app, stronger network to build Within two months ‘‘…Why would I only want to have lunch with people I work with?’’ 5
- 9. SINGAPORE 4 official languages5.7 million inhabitants 40% foreigners 4th highest GDP (PPP) per capita 3rd biggest financial centre 720 km2 6
- 11. 7% decline Rental prices Labour market Technology Changi Airport Tax rates Penetration Connectivity Moody’s rating Progressive income tax rate (0-20%) 17% corporate tax rate #5 in technological readiness AAA 61% connected #6 busiest airport #6 fastest internet 2% unemployment rate Top #10 Asia’s workers #2 in attractivity 7
- 12. 90% smartphone penetration 39% preference for mobile over laptop National Workplace Happiness survey 700+ companies listed on SGX 60% workers suffer stress related to work 17 part of Forbes’ biggest companies ranking 8
- 13. 2% inflation rate Tax exemption scheme Rapid growth of start-up scene Secondary competitors 9
- 14. #9 in technology innovation HPB Agency Next Generation Broadband Network Mobile phone operators 10
- 16. FACE TO FACE MEETINGS 3 out of 4 marketers consider face to face meetings to be the most effective marketing tactic for B2B 12
- 17. FIRST-MOVER ADVANTAGE One and only app of this type available on the market. No direct competition. 13
- 18. Behaviour Geography HR Directors Internal Communication Directors Innovators Companies located in CBD WHICH SEGMENT? WHO? WHY? Occupation Want to retain employees and increase engagement Look for the latest trends Highest concentration of SGX companies 14
- 20. 16
- 22. How quickly? How risky? • Very fast procedure to register a company in Singapore • Incorporation takes 1-2 days • Private Limited company most suitable, reliable for initial investment • No direct competition • 95 on Business Freedom Index, 1,2 on political stability index , 85 on Transparency International Corruption Index, 2,2 on Government Effectiveness Index by World Bank 17
- 23. How much? Payback period? • No registration fee for foreign entrepreneurs • Minimum capital payment for registration is 1$ • 9% tax for the first 300.000$ • Co-Working spaces are available from 180$ per person/month • Break even during the second year 18
- 24. How flexible? What to achieve? • Company name must be approved • Only 1 resident director is required • Every company must appoint 1 company secretary within 6 months • Physical address for the registration required • Brand awareness • Easy accessibility to South-East Asia and Australia once established 19
- 25. Personal Selling Public Relations • In-person events: 75% of marketers consider it the most effective marketing tactic for B2B companies. • Presentations and demonstrations in order to create engagement and relation between people. • Press releases • Events 20
- 26. Advertising • Singapore’s oldest and most authoritative HR Magazine • Fast facts: readership 12,000 • Designations: - HR Managers 48% - HR Directors/Vice-presidents 17% - HR Executives 13% • Advertising rates - R.O.B Full Page S$ 3,500 - Half Page (Vertical/Horizontal) S$ 2,000 21
- 27. Advertising Advertising rates: • Slot Buy (30 sec. Advertisement) • Weekly Rate ($) 1 iBillboard 5,000 • Frequency per iBillboard 3,024 spots/week 22
- 28. Advertising 23
- 29. Generating business in the first place Retaining users Multiculturality 24