Speaker Reflection 4

In Focus

Cherish Leow, Astro Awani's Gadget Nation: Singapore, Malaysia start-up industry

On the YouTube series In Focus, Cherish Leow of Astro Awani’s Gadget Nation was interviewed regarding her recent documentary she published about entrepreneurs working in South East Asia. Cherish was asked to talk about several key areas she covered in her film that included the pulse of the start–up market, what segments are growing popular and finally recommendations young business owners face when doing business in Singapore and other areas in South East Asia. The film highlighted similarities among the responses from the people that Cherish met and discussed their secrets of success in the Singapore market. Being passionate about what you are doing was consistently identified by the people Cherish talked to as being important factor in working in a start-up company. Being patient was another key trait of this group of eager business leaders and I would certainly agree that not knowing if you will be able to pay your bills from one day to the next requires a sense of mental toughness and discipline as well.

The common business pursuit among start-up businesses in Singapore is focused on the segment of technology based software and mobile applications development. Essentially an ever younger generation of entrepreneurs are leaving the United States and other developed nations to go to Singapore to capture success in this booming market. As a financial center, much of the investment capital is at the finger-tips of people creating the latest in practical digital productivity, social media and electronic entertainment tools. A factor for success here is that of being resourceful also. Some entrepreneurs explained that they simply do whatever it takes to get their projects and products off the ground. This methodology includes borrowing from the bank to make payroll and eat, invoice vendors early or take a side job consulting to other business owners is sometimes necessary.

Singapore has become known as a start-up hub and continuously attracts people with ideas along with talented “A-Teams” putting together winning products and companies. New players are constantly entering the market but it is still not close to being saturated with workers so there exists a thriving culture of similarly minded, hungry, collaborative individuals driving this machine. The main idea for this vibrant community is to make money but some would agree that the spirit of entrepreneurship is actually about making an impact in the world in a good and positive way.

In Singapore, there is a culture rooted in self-analyzation in that they have a tendency for taking things seriously and thinking critically about new ideas. Singaporeans simply do not jump into anything they don’t understand and take time to wonder about it first. Business owners consistently recommended this kind of self introspection before moving into working in start-up companies. I would appreciate working within a culture like this. In my opinion there are too many Western ideas and products that seem to be thrust onto the market without real clear understanding of the value or effectiveness it brings. Generational gaps do not exist in Singapore from the point of view of giving back to the culture they live in. Westerners don’t feel like giving back until much later in life, and perhaps when it is too late. Western business owners can learn something from looking at how Singapore and other South East Asian countries operate and exist.

References

Azlee, Zan. “Singapore, Malaysia start-up industry.” Online video clip. YouTube. Youtube, 5 Feb. 2013.