Funding Approval & Disbursement

Good idea need to be executed while it's hot in the plate. We had a similar experience where our grant got approved after more than 1 year. The good idea has become old idea. We ended up dropping the grant and project. On the other hand however, some approval processes are necessary to make sure the applications are genuine.

Oh wow, this is a terribly long process and I agree the company would've been dead by the time they get through the approval process! May we ask which are the so-called "bad" programs vs "good" programs? Feel free to be anonymous! This is all great feedback to us. 

Sure, Lets chat during the event;

One month ago:

As you guys know, our application to XXX is finished. We are not granted anything. But in my heart, I would like to say a few words. This is not the end, not even the beginning of the end. Instead, this is a new beginning where we are finally freed to pursue anything. Let not be tied by our past, move forward to our future, and enjoy these present moments as we find our path to enlightenment.

Indeed, the new path has opened up. Forget about grants. Getting things done is more important.

Found and dug up this interesting thread on Quora a couple of years back and posting here for reference: http://www.quora.com/What-did-MDeCs-startup-grant-program-do-right-and-what-did-it-do-wrong

At least someone dare to post that up. Been hesitate long enough whether to speak out about that post. The typical apologist is there. Forgave me for speaking up: What the fuck is the task of entrepreneur to sell ideas? Tell that to facebook, Tesla, google, and a bunch of disruptive player, and see their reaction. We don't give a damn of telling what we gonna change, we just change it. Maybe it is harsh to says this, but Malaysia is a harsh place. Unless we see the cycle being improved, or else the startup key players will gonna complain the same thing, once they got SUCCEEDED. Again and again.

Now, you gonna tell me, what we haven't done yet to avoid MDeC failure? Their same goal is the same goal as you are: Encouraging disruptive innovation. None success come forth with their help, at least they are not directly involved in the scene. If we gonna tell story, it will be a story of misery again.

Look, MDeC begun in a fairly easy times where the regional country are not interested enough in startup. From your perspective, it means less competition back then. Now, Singapore, Vietnam, Thailand, Bali are all keen to build support one. It is "within 2 hour flying time range for easier reach"(quoting the apologist). In fact, I been told repetitively to register a company in Singapore just to attract funding. So what you are gonna do about this to avoid the same fate of MDeC?

And stop talking about MVP anymore! I heard these words for so many times. This is a counter argument: https://medium.com/@francispedraza/lean-startups-f...

For those who think startup is cheap, do it. See if you can rent a garage and runs server without paying it. Be realistic and kind, OK? If people really know about lean, they should have read "Lean Startup", "The Startup Manual", "Business Model Generation" again and again.