Saturday, February 4, 2012

Singapore’s Teamie wins Startup Arena competition, and a US$10,000 check

There were plenty of distractions at Startups in Asia, the first-ever tech startup event organized by Asian tech blog Penn Olson — including a couple of Kimono-clad ladies and helpers in tight skirts.

But the star of the show remained the Startup Arena, a pitching competition where 19 startups vied for the top prize of a US$10,000 check, as well as some Lenovo laptops and Nokia Lumia 800 mobile phones.

The winner, announced yesterday, on day two of the conference, turned out to be Singapore-based startup Teamie, which is building a social learning platform that aims to make learning more fun, social, and intuitive.

The judges for the competition consists of investors and entrepreneurs like Ash Singh, CEO at InteractiveSG (which is producing Angel’s Gate), Daniel Saito, co-founder at SkySQL and an angel investor, Eric Koh, CTO at Jobscentral and partner at Iconic Ventures, and James Tan, co-founder of 55tuan (his experience in China) and managing partner at Quest VC.

Teamie, founded by Shivanu Shukla and Ashwin Singh, is building a tool that allows students to collaborate with one another, complete quizzes, and submit assignments. Teachers can also use Teamie to track and analyse student performance, as well as grade assignments.

There’s even some gamification elements thrown in: Students will be placed on a leaderboard and ranked according to how much they interact with others.

Teamie hopes to target two industries: The education sector, which consists of universities and private schools, and also the corporate training sector.

First runner-up:  Innova Tech (Singapore)

Prizes were also given to the runner-ups. In second place was Innova Tech, a startup which has the simple aim of preventing you from losing your stuff.

To achieve this, it uses a really thin black device (picture), which can be slipped into a wallet, bag, or even taped to a child. Paired with a smartphone app, the phone will ring once the user steps too far away from the black device. The distance is customizable.

What happens if a user misses the ring? They will be able to track the last known location of the lost item on the app, which is integrated with Google Maps.

Already, the device has already garnered US$10,000 in sales after being placed on IndieGogo, a US-based crowdsourcing platform. It retails at US$30.

The device is certainly useful, but I find that there are some limitations. If I want to obtain multiple cards for use in my wallet, passport, and briefcase at once, I’m not sure if the app can sync with three devices at the same time.

And even if it can, I would have to pay a total of US$90 for three of the devices — which is prohibitive.

Rick Tan went missing when it was his turn to collect the prize during the awards ceremony however. Perhaps he should have used the device on himself.

Second runner-up: Start Now (Singapore)

Coming in third is Start Now, a social enterprise that has launched a free-to-use platform that makes it easier for NGOs to find volunteers and vice-versa.

What I like about Start Now is the comprehensiveness of their platform — NGOs have tools to group volunteers, send out notifications to them, and create events. They are also working on a feature that tracks the performance of each volunteer to allow NGOs to identify who can be relied upon.

Volunteers, on the other hand, can tick certain preferences to receive notifications about the kind of activities they would like to be involved in.

Start Now hopes to generate revenue by charging corporations on a per seat basis to use the platform, as well as charging NGOs for using their pro plan. They are also getting into targeted ads, cause marketing, and building custom CSR sites.

So far, they have gained some traction, attaining over 18,000 users in a four-day span. Admittedly, these sign-ups are retrieved from the email databases of 42 non-profits — so we have no idea how many active users are there.

They are looking to expand overseas as well. Through a partnership with Peking University, they will launch a China version of the site, called kaishi.com.

Fourth and fifth place: Waffle (South Korea) and Piktochart (Malaysia)

Wi-fi can really be a pain-in-the-ass sometimes. Waffle hopes to make it easier for users to log in to a public Wi-Fi network — by just signing in to Facebook or Twitter. The user would then be checking-in and promoting the restaurant or cafe on a social network — all at the same time.

Picktochart hopes to solve another problem altogether. Infographics are all the rage now, not just because they are a fad, but because they make data easier to digest and absorb. Yet, for those without design or Photoshop skills, creating a beautiful infographic is at best an aspiration. To address this, Picktochart has created a web app that lets users easily create highly-customizable infographics.

The other finalists: Mockups, Dr Pad, Flocations, Panoplaza, Vibease, CloudyRec, Gspot, SecQMe, Gushcloud, Justaple, Sakebii, Spelldial, Acheevit, and Phroni.

More photos from the event

Which participants from the Startup Arena were you excited about? Share your thoughts with us!


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Events For The Week – 4-11 Feb

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.

Saturday 4th February:

(1) Startup Talks with Benjamin Joffe

Monday 6th February:

(1) Startup Talks with Rowan Simpson

Thursday 9th February:

(1) ACE BlueSky Exchange: How IT can improve your bottom line
(2) Smart & Effective Mobile Innovation

Image courtesy of joyosity.


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Moscow-Based Venture Fund Ru-Net to Invest USD50m in SEA Market

I had the privilege to have a chat with Alexander Pavlov, Investment Director for Moscow-Based Venture Fund Ru-Net, on the sidelines of our Startup Asia event. We chatted about Ru-Net’s plans to invest $50 million is the Southeast Asia (SEA) region.

In a nutshell, Ru-Net is a Russian-based fund focused on investing in Internet and Information Technology (IT) industries. Some of the more successful companies that they have invested in include OZON.ru (often dubbed the “Amazon of Russia”), BigLion (Russia’s largest daily deals site) and ivi (an online video site). They also have a completely different fund focused mainly on investing in technology firms in the US, called RTP Ventures.

At present, Ru-Net has $700 million in their fund and is planning to invest $50 million in the SEA market in the next two to three years, depending on the quality of the startups they are able to find. They have already invested in a Vietnamese e-commerce platform called MJ Group and are looking at investing in India next.

Ru-Net hopes to invest around 5 to 20 million dollars in a single transaction, preferably in the areas of e-commerce, online travel, online entertainment, and social gaming, and preferably in startups who have already received some amount of seed funding.

They do not have offices in SEA at the moment though, despite having plans to enter the SEA. I thought that wasn’t exactly wise, but Alex later shared that they do have local partners in SEA. They have invested in Digital Media Partners (DMP) and are currently on board as their limited partner. After all, local partners understand the local markets, have the right connections and comprehend the consumption patterns better than foreign investors.

When asked about Alex’s thoughts on the Startup Arena pitches in Startup Asia, he was pretty excited about the untapped potential in the e-commerce market. In his opinion, there is still room for e-commerce and reveals that they are on the search for people who are able to execute and build companies which are scalable and replicable in different markets.

Previously, RedMart did reveal that the non-perishable goods market generates about $4.2 billion annually in Singapore, so there are definitely areas within the e-commerce industry where startups could possibly explore.


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Bernard Leong on Internet Trends and Entrepreneurship in Southeast Asia

This post is a part of our coverage of Startups in Asia (Singapore), Penn Olson’s first tech conference. Our full coverage of the event can be found here, for our RSS feed, click here.

Bernard Leong

Bernard Leong

Presentation by co-founder and CTO of Chalkboard, and also of SGentrepreneurs, and TWIA. You can follow Bernard on Twitter @bleongcw.

#15:13: There are a few things missing in the SEA ecosystem, namely the talent to scale companies, and a lack of business operators of VCs (he points to East Venture’s Batara Eto as an example).

#15:10: Indonesia is the next big market, and Japanese VCs are the first ones there. Bernard looks at a few cool companies from Indonesia like Biztip.

#15:07: MOL acquired Friendster three years ago for about $39.5 million. But from selling the patents to Facebook and becoming a distributor for Facebook credits, they made about $160 million.

#15:05: Points to Viki as an interesting company, which was actually founded in the US and came to Asia. One interesting feature of the site is crowdsourced translation. Bernard also cites Mig33 as another great example of a company doing interesting work in Southeast Asia, and succeeding.

#15:03: Groupon’s strategy was to come into Asia and to pick up the 4th/5th competitor in the group buy space. He notes that the Samwer brother are are now doing business in the region and are very good at this kind of play.

#15:01: The Southeast Asia VC industry is primitaive and non-existent, says Bernard, as it lacks exits in the range of $100 million. The players are not very large in this space.

#14:58: Bernard drills down to Singapore as a key center for three things: finance, IT, and media. Local offices for global tech companies like Amazon, RIM, Lenovo, Apple, HTC, Microsoft, Google, etc.

#14:52: Facebook penetration is impressive in Southeast Asia. Brunei has 58.4% penetration, Singapore, 56.1; Malaysia 42%.

#14:49: Bernard compares mobile and internet penetration across Asian countries. Points to places like Indonesia and the Philippines as emerging markets where users use Facebook and Twitter, but don’t really consider this to be “internet” since they access it via a ‘dumb phone’ or feature phone. Similarly, BBM is like this.

#14:47: Southeast Asian market is very fragmented. The region is highly populated, with about 613 million people, which comes in behind China and India (and Bernard also says, Facebook). Total mobile subscribers are about 550 million. Total internet subscribers are about 139 million.


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Telecom Operators Seek Govt. Subsidy to Deploy LBS Infra in India

LBS is the next killer app in 3G & mobile broadband ready India and while it hasn’t really taken off yet, operators are blaming the lack of activity to monetary hurdles in setting up the infrastructure for LBS deployment in India.

At a recently held LBS conference, operators unanimously stated that a government subsidy will help them accelerate the LBS deployment process. Curated quotes from operators:

“Mobile operators can earn high revenue from Location Based Ads. The elections are approaching and this opportunity can give an immense amount of revenue through the Location Based Ads, leave the rest” – Sivarama Krishna, Executive Director, Consulting, PricewaterhouseCoopers

“In India we follow a mantra ‘High value low price’. We can tackle to the problems if govt. subsidizes us on monetary basis. Government needs to encourage competition rather than regulating it” – Rajan S Mathews, Director General, Cellular Operators Association of India

Costumers understand the value of LBS but they are very concerned about the privacy issues and even they are not willing to pay for the service. We as service providers have to ensure that the information is secured and is not misused. To successfully deploy the service, we require to minimizing CAPEX, deploy adequate technology in CDMA and define the target group for LBS apps.” – Rajesh Gandhi, AVP VAS Technologies & Enterprise Solutions, TATA Teleservices

“Main problem in LBS deployment is intra-circle limitations. We need a third party, who can establish infrastructure compliant to both operators. In India, we have an infrastructure which is not secure in wake of changing future requirements”. He further added, “With the mobile phone enabling legal agencies to locate individuals and events it is necessary for government, service operators and DoT to enter into workable arrangements and protocols to fix legal onus to prevent avoidable legal complications to dog service providers.” [A K Bhargava, ED Wireless Services MTNL]

So in short, no action in the interim?


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Of Product discovery, Smaller Retailers and Junglee

Amazon took a totally orthogonal path with it’s entry into e-commerce in India. It has been speculated that they tried to buy Flipkart, been busy building a warehouse, instead launched as a gatekeeper to products with discovery and comparison site Junglee.

With the amount of money Flipkart, Makemytrip, Snapdeal, etc have been throwing in advertising it became a calling that the online commerce winner would be the one who brands it most and goes out and pops out it’s head on TV, print and other traditional media.

For an uninformed Indian, getting onto the Internet for the first time and not knowing where to go and who to trust brings the gatekeeper’s role in the front. As Alok pointed out in his blog post, Google does a crappy job of product discovery. In the west, very few people buy via a search engine, instead they have their favorite e-commerce sites to go to. The Indian online audience is just getting onto the Internet with close to 100 million actives. For them the celebrated bookmarks of the west like Google, Yahoo, Amazon, etc. don’t exist. How does Junglee help where an average netizen going onto the Internet for the first time and traditional retailers who haven’t gone online with their inventory? Here’s what I think.

Curated sellers in a country where there are few laws protecting the buyers: The Indian internet audience buying from over SEO-ed, fly by night operators is fraught with hole-in-the-pocket scenarios as the laws around protecting the customer’s interests are very weak. Try arguing for a bad charge on your credit card, or try following up with a merchant who shipped a bad product without return guarantees. Junglee’s opted-in curated sellers may provide at least some validation before making a buying decision.

Breathing room for small ‘I-have-not-raised-$100m-for-my-e-commerce-site’ retailers: Not many Indian e-commerce players shall raise enough money beyond the top 5 who will have all the cash in the world to build a brand. With Junglee potentially building a brand, it becomes a front-gate to your online buying needs. Niche sites selling to the hobbyists have a shot in the arm. They don’t have to get lost into eBay’s marketplace where the product display looks like a badly done Web 1.0 page.

Opportunity for large offline businesses to go online with their inventory Every city has retailers with established supply-chain and delivery network, where they have been successfully delivering locally. With someone else taking care of the online presence, it becomes easier to increase the reach within the city by connecting to the local audience. These retailers who are not as big as the cross-country chains like Croma, Reliance Digital, etc. get to play together. The neighbourhood photography equipment-walla who has been successfully importing optics from Germany now stand next online with other giants. This is a huge gap–I’m sure Junglee is busy building tools for the same.

Finding a product on a shopping site and not a search engine: Search engines fail at product discovery with peddling content around keyword arbitrage, affiliate marketing and SEO-ed to death sites pulling into the first few pages. A site focused exclusively on product discovery with pricing, recommendations has a better chance of giving what you want instead of a search result page infested with links, content and arbitrage.

Plotting the timeline, India’s B2C e-commerce is in 1997 whereas customers in the United States bought $142.5 billion worth of goods in 2011.

[Guest article contributed by Indus Khaitan. Reproduced from his blog]
Also read:



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A Final Roundup of Startups in Asia Singapore

This post is a part of our coverage of Startups in Asia (Singapore), Penn Olson’s first tech conference. Our full coverage of the event can be found here, for our RSS feed, click here.

penn-olson-team-2

This marks the first time our Penn Olson team has been in the same room together

Well, it has been a pretty busy two days for our team [1] here in Singapore over the last few days, covering all the action at Startups in Asia Singapore. For those of you who missed it, here is the entire wrap-up from our two day event, including all the coffee chats as well as the 19 startups who pitched.

Once again, a very big congratulations goes out to Teamie, who walked away with top honors as our Startup Arena winner!

Coffee Chats

Startup Arena

late night walk for the PO team in Singapore

The after-after party: A late night walk for the PO team in Singapore before we all fly home


  1. What many people don’t know is that this week was the first time that the Penn Olson team has been in the same room together, since we all usually work virtually from our respective countries (China, Japan, Indonesia, Singapore, and more). So in addition to meeting all the great startups, investors, and guests in attendance, we also really enjoyed meeting each other for the first time as well! There are many other team members who came who we wanted to get in this picture too. A big thanks to Yukari and Masaru especially who were also here in Singapore, as well as anyone else who has contributed over the past year!  ↩


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Lightspeed Ventures Raising US$875 Million for US/China Fund

Bloomberg reported that Lightspeed Ventures, an international VC firm is said to be finishing raising a new fund worth $875 million. $200 million is said to be ear marked for China based companies.

This reflects a growing trend for U.S. VC’s to get a taste of the burgeoning Chinese market where start-ups can take advantage of the enormous opportunities to scale. In September last year, China’s most prominent start-up incubator, Innovation Works closed a US$180 million fund. The fund was backed by famous investors like Ron Conway of SV Angel and Yuri Milner of DST Global.

Some of Lightspeed’s most prominent investments in China include 99Bill, an electronic payments company; Dianping, like Yelp; ihaveu, a luxury e-commerce store. They have also invested in LivingSocial in America, the biggest Groupon competitor.

So if you are a start-up looking for funds, you can get ready to pitch Lightspeed in China.

 

Related posts:

  1. Zero2IPO Group Launches China Venture Database
  2. The Founder Institute Expands To Singapore To Boost Local Startups Ecosystem
  3. NetDragon and IDGVC Announced $50millions Fund To Invest Mobile App Development Market


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Zuckerberg Salary to Drop from US$500K to US$1 a Year

Since Facebook filed their registration for IPO with the SEC on February 1st, everyone has been digging into it to uncover information that was formerly very private.

 

One of the more interesting pieces to pry into is how much money the top guys get paid. 27 year old Mark Zuckerberg, Founder and CEO was paid $500k in salary in 2011. However, effective 1 January 2013, his salary will be $1. Sound unfair? Of course it’s not. Based on the upper end valuation of $100 billion after the IPO, Zuckerberg will be worth $28.4 billion. This excludes performance bonuses. According to the filing, in 2011, Zuckerberg “received $220,500 for the First Half 2011 bonus, which reflected the impact of his performance in leading our product development efforts, our success in growing Facebook’s global user base and developing strong developer and commercial relationships.”

But has all this wealth changed Zuckerberg as a person? My friend Yuancheng, met Zuckerberg in Beijing last year and said he seemed like an “ordinary young person” Also David Kirkpatrick, the Writer of “The Facebook Effect” told me that Zuckerberg is a normal guy who likes doing normal things. What isn’t normal for most ‘young’ people is spending $700K flying around in a private jet, which his wealth now affords him.

Another piece of information that stuck out to me in the S-1 filing was their strategy. One point is how to grow their business by ‘Expanding our global user community…across all geographies , including relatively less-penetrated, large markets such as Brazil, Germany, India, Japan, Russia, and South Korea.” There is no mention of entering China, the big fish. This is a bit strange since Kirkpatick, said that Mark himself has declared figuring out China and how to get in, his number one strategic priority.

But it would be foolish to judge the real strategy of Facebook just from the IPO filing. Facebook could very well be preparing to tap into the 513 million internet user based of China. It has been widely publicized that Zuckerberg has been learning Chinese and has visited China a few times already. It has also been rumoured that Facebook may partner with Baidu, after meeting with Robin Li several times. Although like many international company plans, China may be put in the ‘too difficult for now’ bucket until they can align everything from strategic partnerships to favourable government relations to finally make their China market entry smooth. For now, the hype of the potentially historic IPO is enough to keep the Facebook team busy (counting their money).

Related posts:

  1. Facebook Pushes into Group Buying Market
  2. Facebook’s Potential IPO Filing Pushes RenRen Shares Up 50%
  3. Renren Almost Dropped Below Its IPO Price


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Bharatmatrimony Moves Competition Commission of India Against Google India

This isn’t the first time that Google has faced an issue by allowing companies to buy adwords on competitive keywords. ConsimInfo, owners of Bharatmatrimony  filed a case against Google India in 2009 and the company has again filed a complaint against Google in the Competition Commission of India, citing discriminatory trade practices related to its AdWords program.

“Google has abused its dominance by engaging in discriminatory and retaliatory practices relating to AdWords. We have requested the Commission to investigate Google’s practices and impose remedial measures to protect competition. The increasing number of competition law complaints against Google globally suggests a pattern of anticompetitive conduct that needs to be checked in order to protect Indian businesses and consumers,” [ET].

Bharatmatrimony or Shaadi?

Bharatmatrimony or Shaadi?


Essentially, if you search for Bharatmatrimony (and other trademarked keywords), you will see ads from competing companies. While Google does competitive ad filtering, there are several permutations and combinations that enables advertisers to play with the system (for instance, shaadi is advertising on ‘Bharatmatrimonial’).

When Bharatmatrimony filed a case in 2009, they had asked for Rs. 10.05 L compensation.

In Europe, Google faced a similar case and presented a view that bidding on trademarked brands did not constitute an automatic infringement.

Recommended Read: Should startups worry about trademarks issues?

Trademark related resources


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