Thursday, June 30, 2011

tenCube founder Darius Cheung wins Youth Award

Darius Cheung, founder of mobile security firm tenCube, is one of four individual winners of this year’s Singapore Youth Award.

The Award, started in 1975, is Singapore’s highest recognition for under 35s who have excelled in areas like entrepreneurship, science, and the arts.

TenCube was acquired by security juggernaut McAfee in 2010 for more than US$10 million (S$12.3 million). Their flagship product is the WaveSecure, which allows mobile phone users to protect their lost or stolen devices and the data inside them.

Darius now works as the director of consumer mobile technologies for McAfee in Singapore.

The other winners of the Award include youth community leader Terence Chia, geneticist Teo Yik Ying, and filmmaker Boo Junfeng.


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Events For The Week – 2-9 Jul

Latest Entrepreneurial Events in SingaporeFor a one-stop to all events related to or concerning entrepreneurship, certain industry-meets-business forums and seminars in Singapore, check out our Calendar. If not, you can also follow our bite-size updated posts for upcoming events for the week.

Events range from simple get-togethers to full-blown conferences. Get to meet fellow developers, entrepreneurs, startup CEOs & founders, and meet & learn from CEOs of established companies who have seen it all.

Our aim here at SGE is to make it easy for you to pick & choose from the event buffet. Enjoy.

Here are the events for this week. Events are mostly in Singapore (generally 30 minutes drive from anywhere), but we also include key events from around Southeast Asia and beyond.

Sat 2nd July:

(1) Lion City Startup Brekkie #3

Mon 4th-Tue 5th July:

(1) Media Relations in the Digital Age Conference

Wed 6th July:

(1) Network at Entrepreneurs’ Corner

Thu 7th June-Fri 8th July:

(1) [HK] Media Relations in the Digital Age Conference

Fri 8th July:

(1) Lean Startup Breakfast Singapore

Image courtesy of joyosity.


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Tencent Invested in Daily Deal Site FTuan for an Undisclosed Sum

Tencent shopped again. Lin Nin, CEO of FTuan, a daily deal site in China, confirmed that Tencent invested in the company for an undisclosed sum.

 

Tencent already had several group buying offerings, including QQTuan and Gaopeng, a joint venture of Tencent and Groupon, along with deal aggregator SOSOTuan. Obviously Gaopeng has neither adapted to Chinese market nor lived up to its parent company’s reputation. With so many group buying initiatives, one just can’t help but wonder what Tencent want to do with them.

 

And also, Chinese group buying market has already showed signs of declining, according to a research by Tuan800, a Chinese daily deal aggregator, in May there’re over 4500 group buying sites in China but sales fell in 40 major cities month over month. Prior to that, Beijing, Shanghai and Guangzhou had already showed signs of weakness in monthly sales; these three cities are separately the largest, second and third largest group buying market in China.

 

Market Decreasing Amid Intense Rivalry


To compete against other players amid intensified competition, Chinese groupons have tried everything from “free lottery”(lashou, meituan, nuomi and so on, with awards including house, Apple laptop, cars, life-long water and electricity bill payment) to celebrity spokesperson (Lashou, Groupon.cn, Manzuo, Jumei and so on).

 

According to Renren. Inc Q1 2011 financial results, net income for Nuomi in the first quarter was US$ 900 thousand, while operating expense was US$ 4.6 million, which means Nuomi earns RMB 1 yuan while spends 5 yuan.

Chinese actor Ge You featuring in Lashou ad campaign

The situation is no better in other sites. For Lashou, the largest Chinese daily deals site in terms of scale, its sales plunged from this April’s US$ 15.77 million to US$ 10.54 million, an astonishing 33.7% decrease month over month. It seems hiring Ge You, one of the most-recognizable screen icon for Chinese people, as spokesperson and rolling out the ads featuring him in every corner of Beijing among other cites didn’t help much.

Related posts:

  1. 2011 of Chinese Group Buying Market, the Year of Burning-Money
  2. Lashou Leads with 14.4% Market Share in the Crowded Chinese Group Buying Market
  3. Tencent invested US$350 million into US game company, Riot


Link to full article

TourBoarding Helps You Stay for Free and Experience Chinese Culture While You Travel

Opening up your home to strangers and travellers for a short time is becoming very popular. First, Couchsurfing aimed to foster a community of travellers who could find someone to ‘crash’ for free with while they travel. AirBNB is now revolutionising short-term rentals by allowing anyone to convert a sleep-able space into a place to rent.

Since 2009, TourBoarding has taken a new twist on the short-term stay model by allowing travellers to stay at someone’s place in China for free and experience its culture through services such as learning Chinese, Chinese cooking, calligraphy in exchange for speaking English or other in demand languages for at least two hours a day. That seems like a pretty good deal to me! I’ve always enjoyed meeting and interacting with locals to truly experience a new country.

I interviewed Cathy Tao, Chief Evangelist of TourBoarding to find out more about this interesting new travel concept.

Do you believe the service is really for Chinese to learn a language or is it to make friends?

Both.  It is also about building bridges between people that otherwise would not meet, interact, or learn from one another.  Given that we are creatures of habit, TourBoarding has created a workable framework that gives people of diverse backgrounds the strong incentive to come together and have a meaningful, educational experience that could really change their lives.  Even in an international city like Shanghai, you will see that people mostly stay within their comfort zone: Expats hang out with expats (especially with those from the same originating country), local Chinese hang out with local Chinese, returning overseas Chinese hang out with their own kind, and so on.  This type of clustering behaviour exists throughout the world and is so limiting, and frankly speaking, rather dull.  We want to change that.  A common language is of course, a prerequisite for any meaningful communication to occur between people, and that’s why the sharing of language or language currency is the cornerstone of our travel model.

What is the structure of your team?

We are based in Shanghai. The size of the team fluctuates depending on work required, but the team has always been less than ten members.  We are using our own funding, so we are very cautious about how the funds are used.  In terms of the co-founders, Nuno Zhang is in charge of programming and technical development of the site, Ken Chen is the captain of the ship and in charge of growing the domestic market, while my job is to grow the international market and be the chief English speaking evangelist.

What does a VIP member get?

At the present time, ordinary members have access to the same features as VIP members, but VIP members have access to many more hosts and travellers, and thus have a higher chance of finding the ideal host or traveller to match up with. VIP membership is achieved through a donation of a minimum of US$25. Part of this donation is given to help poor students in remote areas of China.

Is it tricky getting foreigners to register with local police stations since it is not a normal custom?

We were required by the local authorities to post a notice on our home page informing members that foreign nationals staying with Chinese citizens must register with their host at the local police station.  We are not required to enforce this provision.  I think that complying with this requirement helps to keep travellers and hosts safe, so it is a good precaution that also happens to be the law.  So far, not a single member has complained about this requirement.

Do you think language currency barter for free rent disrupts the Couchsurfing model?

TourBoarding is different from CouchSurfing.  It is a new peer-to-peer travel barter model with a social mission that hopes to serve an important, lasting niche in the sharing or collaborative consumption movement; I call it “collaborative tourism.”  With CouchSurfing, you are essentially relying on the generosity and goodwill of the host to nab a free home stay, so things tend to unravel last minute at highly desirable locations, such as New York City or London. At TourBoarding, travelers don’t just receive a free place to stay; they must commit to speaking two hours of their native language daily with their host.  We are not running a popularity contest where people must know how to write fancy cool profiles to get “chosen.”  Chinese members of CouchSurfing who attract a lot of views and friends are not representative of the vast majority of Chinese. They are in a sense the cultural elite who have already been educated or immersed in a foreign setting.  At TourBoarding, we impose low barriers to entry so that those people who can benefit from our service most can actually use it.  A low barrier to entry creates an inclusive atmosphere and does not equate with low quality.  We hope to replicate TourBoarding in the rest of the developing world.

How do you view the positioning of TourBoarding versus CouchSurfing and AirBNB?

CouchSurfing is a non-profit organization, while TourBoarding can earn profits for its shareholders and investors.  We want to be a profitable, self-sustaining organization that does not have to rely on donations, a social enterprise that produces wealth for the long-term by delivering extraordinary, rewarding experiences and value to customers.  Happiness comes from accumulation of positive experiences, from feeling connected to those similar and dissimilar from us, and not from owning and consuming.  Ken, Nuno, and I are idealistic experimenters that want to help people come together and get ahead.  Money is a wonderful asset that can produce lots of innovation and progress, but we are not solely motivated by it.

AirBNBbasically extended the vacation rental market to include a wider product offering including any space that is rentable, such as a private home or boat.  With Airbnb, you pay cash for the use of a space, but with TourBoarding, you “pay” with your language skills that are valued by the host. With TourBoarding, even if our Chinese members don’t have a presentable home to host a traveller, they can still find many traveller members who would value their tour guiding services, Chinese fluency, or knowledge of local customs and culture.

How many members do you have now and what is the growth rate?

We are revamping the site and I don’t have the current membership numbers, but I approximate our membership growth to be about 1100% from the time we officially launched last year.  We have worked with a very modest advertising budget, and we won’t ramp up marketing at full force until we have tweaked the model to our satisfaction.  We have an advantage of being first at what we do, but we also have the disadvantage of not being able to study other similar models and learn from them.  In certain areas, we operate in a vacuum, and have to rely on research and academia to know what to do next.  But this is also what makes what we do super exciting, pioneering, and rewarding.

What is the vision and long term plan for TourBoarding?

Our goal is to become the “Kleenex of language-financed travel.”  We don’t want to just be in China, but also other developing countries, such as Russia, Brazil, Vietnam, etc.  And we will never forget our Chinese roots.  We won’t pursue westernization or copy western formulas for the sole purpose of raising capital or getting listed on a stock exchange.  A formula works until a new one takes its place.  The best way of doing something is a continually evolving concept.

 

 

Related posts:

  1. Wealink, 4 Years Experience on Chinese Professional Social Networks, A Slow Business
  2. Travel In China Web (1)- Web2.0 is For Content Sharing, Not Service Sharing
  3. Tencent Bought 30% Share of 17u.com, Enters Online Travel Service Market


Link to full article

Philippines Digest – 1 Jul

Here you can find some interesting startup news around Philippines, not only in its capital, Manila, but also other their startup hubs such as Cebu, General Santos City, Pasay, Quezon City, and many more.

(1) The Philippines is neck to neck with Indonesia in terms of social network penetration. A study by London-based consultancy Trendstream showed that roughly 75 percent of the country’s 14.4 million internet users are active online; almost the same level as Indonesia.

(2) Leasing rates are steadily rising around the metro and vacancy rates declining based on April to June numbers, says real estate advisory firm CB Richard Ellis (CBRE) Philippines.

(3) Something peculiar to the local market is the presence of sachets, tetra packs, tube packs, and other products in micro packages or what they refer to colloquially as tingi-tingi. But why is the tingi-tingi system a hit with the Filipino market?

(4) Every Filipino community had their own quintessential neighborhood bakeshop, until Julie’s Bakeshop came along and raised standards. Now run by Joseph Gandionco, son of the founder and namesake, Julie, the bakeshop continues to grow on the same values that started it all. Gandionco shares the same lessons that he learned from his mother as she was putting up Julie’s Bakeshop from the ground up.

(5) One of Cebu’s restaurateurs, Kenneth Lim, highlights three reasons why it’s so much easier to start your food business in the Queen City of the South today.

Thank you to nordicfactory for the flag image.


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Can We Really Trust Group-Buying Sites in China?

When it comes to group buying daily deal sites, two of the key things that influences your decision to buy now is how many other people have bought the deal and how much time you have left. Obviously if you wanted a deal and thought it was going to run out soon, you would of course make the decision to buy it now.

In China it is widely known that many of these group-buying sites manipulate some of these numbers to persuade potential customers to buy as soon as possible. Although many people have come to accept this practice as normal, some group buying sites diligently try to defend their reputation and gain respect from the public.  So much so that  some group-buying sites explicitly say their numbers are genuine and not misleading.

The example below is from Noumi.com, one of the largest group buying daily deal sites in China. If you look at the yellow box, it translates to “True sales number. We never fake sales numbers.”

Under Noumi.com’s commitment section, they try to assure people their deals are totally legitimate with nice badges of authenticity. How can you not trust the badge?

*Note – Google translated

I’m not sure if fair trading law exists in China, that says ‘you must not mislead’ customers, but until there is one that is successfully implemented and enforced, I guess all we can believe is the shiny badge of approval.

We commented before that Groupon China should understand how to run the business and be localized in China. The Fake-Number culture is obviously something they need think over.

 

Related posts:

  1. China Group-buying Cooled Down In April, Guangzhou Hit Hardest Down 25%
  2. My feeling about Group buying in China
  3. Facebook Pushes into Group Buying Market


Link to full article

Code of Conduct for SaaS Companies [The Oath]

[Editorial Notes: SAAS industry is growing and as new players emerge (with new business model), it’s imperative that there are a few basic/ground rules that players should stick to. Not as a legal binding, but as a code of conduct ensuring that enterprise customers trust SAAS players and each player contributes to the growth of SAAS/Cloud industry. Here is a guest post by Sahil Parikh, founder of DeskAway. Sahil shares few important points that SAAS players need to look at.]

SaaS companies sell to the invisible. Hence, it becomes even more challenging to create an exceptional experience for their website visitors and customers. The vision for this Code of Conduct (CoC) is for companies to play by a set of standards so that they can delight their prospects/ customers and create a better conversion rate to grow their business.

Instant Signup
You should be able to come to our site and sign up instantly and try out the software. You will never have to fill out a form to contact sales.

Online Payments
A positive trial will allow you to subscribe to one of the paying plans. You can pay online through a credit card and once successful, you will be taken to you activated paid account immediately.

SSL Encryption
We take security seriously and any traffic to and from your computer to our server is encrypted using atleast 256-bit encryption. As proof you can see the ‘lock’ symbol on your browser’s location bar when you visit any of our secure pages.

Clear Pricing
We are transparent in our prices and plans and list out what you get when you subscribe to any of our plans. We even mention if we have a free plan to get started.

Feature/ Tour
Even before your try our software you can see a range of screenshots on what you can expect when you signup. A tour will present our value proposition and benefit to your business.

Customer Casestudies
We wouldn’t be in business without our customers. See how others have benefited from using our software by reading their stories.

System Status
We are committed maximum uptime of our software. Hence, we have made this information public to let you know our server’s past performance and downtime (if any).

Active Blog
In a virtual world where we don’t even meet our customers clear communication is becoming important. We write our candid thoughts on our blog and keep an open discussion for all our visitors.

Export Data
As a customer you own your data on our servers and are free to take a backup of it at any given time.

Help/ Support
We have a robust online help section with videos, forums, faqs so that you can self-help yourself if you get stuck. Our dedicated support email will always be open if you wish to contact us with your queries and we’d be happy to email you within 24 hours.

If there are any more points that I have missed then do let me know in the comments. If you support this CoC then do put your name and company you work for in the comments.

Recommended Read: How to Price your SaaS Application – The Definitive Guide.

[Reproduced from Sahil’s blog]

[image credit: elston/flickr]


India's Largest Startup Event, UnPluggd Is Back (Mindblowing Content + Exiciting Startup Demos » July 9th, Bangalore)
» Code of Conduct for SaaS Companies [The Oath] @Pluggd.in.


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European Early Stage Investor Mangrove Capital Partners To Invest In BeStylish, Smile Interactive Venture

European early stage firm Mangrove Capital Partners is entering India and has invested in BeStylish, a Smile Interactive venture. Smile group runs other ecommerce portals like FashionAndYou and DealsAndYou and while they focus on niche deals. BeStylish focuses on selling shoes online.

buy shoes online bestylish.com

BeStylish sells shoes online and competes with other players like YeBhi (earlier BigShoeBazaar). The company is led by Shailen Amin and sells branded shoes from Liberty/Nike/adidas etc.

Recommended Read: Amazon Entering Indian Market.


India's Largest Startup Event, UnPluggd Is Back (Mindblowing Content + Exiciting Startup Demos » July 9th, Bangalore)
» European Early Stage Investor Mangrove Capital Partners To Invest In BeStylish, Smile Interactive Venture @Pluggd.in.


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Regional Entrepreneurship Summit – 22-24 July

Global Entrepreneurship Program Indonesia (GEPI) will hold the Regional Entrepreneurship Summit (RES) next month, 22-24 July. RES is officially hosted by the Ministry of Trade of the Republic of Indonesia.

The theme of this 3-day summit is: “Emerging Entrepreneurs: The Next Big Chapter”. Eric Schmidt of Google, Jim Turley of Ernst & Young, Tony Fernandes of Air Asia, and Ananda Siregar of Blitz Megaplex are some of the prominent local and international speakers.

GEPI aims to catalyse Indonesia’s entrepreneurship strategies by working in partnership with existing programs and linking aspiring Indonesian entrepreneurs to global developments and investment prospects.


Event Details

 


When: Friday, 22 until Sunday, 24 July 2011
Where: Grand Hyatt Bali, Nusa Dua, Bali, Indonesia
The program details can be viewed here and interested participants can register here.

 


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Singapore takes five of top 12 spots at WSJ Asian Innovation Awards

A light artificial kidney (left) that provides constant dialysis for patients with kidney failure, and a baby breath monitor that tracks the breathing patterns of infants when they are sound asleep; these are some Singaporean inventions that made it to the summit of The Wall Street Journal’s Asian Innovation Awards.

These products are the brainchild of Excelpoint Systems and Awak Technologies respectively.

The Awards, organized in partnership with Credit Suisse, aims to find and recognize up-and-coming innovations in Asia. Entries may come from individuals, small businesses, large corporations or academia. All 12 innovators will be featured on The Wall Street Journal, out of which three will win the gold, silver and bronze awards and one will clinch the Credit Suisse Technopreneur of the Year Award.

Last year’s gold award winner was Tata Chemicals’ Swach water purifier which is aimed at households without electricity.

Other Singaporean innovations making this year’s shortlist include the Institute of Bioengineering and Nanotechnology’s IBN MicroKit, which is a portable disease detection system; Optiqua Technologies’ EventLab, which detects water contamination; and the Institute of Materials Research & Engineering’s artificial cell membranes, which aid in drug development and disease research.

Image: Awak Technologies


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BANSEA Network @ Lunch: Female Power Pitches – 15 Jul

Next month 15 July, Singapore Business Angel Network Southeast Asia (BANSEA) will organize a networking lunch. It is part of female entrepreneurship celebration where it will showcase 3 startups headed by dynamic women entrepreneurs. It also provides opportunities for early stage investing, networking deal syndication and business collaboration.


Who Will Pitch

Carmen Benitez, CEO of Fetch Plus
Fetch Plus is a developer of social and mobile applications for the real estate, hospitality, multifamily housing and franchise sectors.
Janice Wilson, Co-Founder of Tresselier
Tresselier helps frustrated women eliminate “bad hair” days by providing a social platform to find, review and book stylists online.
Stellar Arthur, CEO of Asia360
Asia360? aims to be the world’s leading current affairs print and online news magazine on Asia; communicating Asian perspectives on Asian news to the region and the rest of the world.
Event Details

When: Friday, 15th July
Time: 1030am-130pm
Where: THE PINES, Ballroom II at Basement, 30 Stevens Road, Singapore 257840 (Map)
Fee: Complimentary (BANSEA Executive Members), S$40 (BANSEA Ordinary Members), S$50 (SVCA and TiE Members), S$60 (Others).
Interested participants can register here.
Link to full article

Key Indonesia Startup News This Week – 30 Jun

Here you can find some interesting startup news around Indonesia, not only in its capital, Jakarta, but also other their tech startup hubs such as Yogyakarta, Medan, Surabaya, and many more. These listed news are taken from our partner, DailySocial, a leading blog on Indonesia’s tech startup scene.

(1) Some overview information on the several tech investment funds being set up to invest in Indonesian startup companies, their background and portfolios. (See also: Funding scenes in Singapore)

(2) Lots of people have taken interest to e-commerce in Indonesia, with more than 20 e-commerce companies launched last year alone. And of course, a lot of them went down to the deadpool, leaving incumbents like Rakuten, TokoBagus, Plasa, Berniaga, Kemana, Tokopedia, and so on.

(3) MicroAd, a Japan-based ad network and data exchange platform company is expanding their operation to the huge untapped market in Indonesia.

(4) Indonesian mobile telecoms company Indosat’s net profit this year declined more than US$68 million or around 56% in 2010 compared to 2009, said Director Harry Sasongko Tirtotjondro.

(5) Agung Wijanarko, head of mobile devices at XL Axiata, an Indonesian mobile telecoms company, is leaving his post after just nine months on the job.

(6) Yahoo! Koprol, a location-based social networking website, is holding Hack&Roll based in Indonesia and Philippines. Developers will compete using unreleased Koprol API and work some wonders. They will have only three weeks to do that.

(7) With the growth of Indonesian people’s appetite for travel and the growing interest on visiting Indonesia, TourExplora has launched its marketplace for travel agents to sell travel packages.

(8) Entrepreneur, strategist, and CEO Andi Boediman officially announce that he’s starting a brand new tech-startup incubator called Ideosource.

(9) There really aren’t many addictive games on BlackBerry, especially by Indonesian developers. Now two local developers are striving to change that by launching MiMo Machi for BlackBerry.

(10) Para Group, one of business conglomerates in Indonesia involved in banking (Bank Mega), media, and entertainment (TransCorp) , has acquired Indonesia’s online media giant Detikcom.

This has been brought to you by SGE and DailySocial. DailySocial is a blog that covers the Indonesian tech startup scene. They publish in both Indonesian and English.

Intro image credit: baligraph


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