tag:userecho.com,2024-03-29:/feeds/topics/es//MaGIC Dialogue2019-04-29T13:43:44+00:00tag:magic.userecho.com,2019-04-29:/communities/1/topics/40-what-is-malaysias-unique-competitive-advantage/2019-04-29T13:43:44+00:002019-04-29T13:43:44+00:00What Is Malaysia's Unique Competitive Advantage? [ideas] The popular recipe for creating the “next” Silicon Valley goes something like this:<br><ul><li>Build a big, beautiful, fully equipped technology park;</li><li>Mix in R&D labs and university centers;</li><li>Provide incentives to attract scientists, firms and users;</li><li>Interconnect the industry through consortia and specialized suppliers;</li><li>Protect intellectual property and tech transfer; and,</li><li>Establish a favorable business environment and regulations.</li></ul>Except … <a href="http://lkyspp.nus.edu.sg/aci/wp-content/uploads/sites/4/2013/04/Industrial-cluster-Development-and-Innovation-in-Singapore.pdf">this approach</a> to innovation <a href="http://www.development.wne.uw.edu.pl/uploads/Courses/ied_porter_2000.pdf">clusters</a> hasn’t really worked. Some have even <a href="http://www.washingtonpost.com/national/on-innovations/industry-clusters-the-modern-day-snake-oil/2011/06/19/gIQAMtx3EI_story.html">dismissed</a> these government-driven efforts as “modern-day snake oil.” Yet policymakers are always searching for the next Silicon Valley because of the critical link between tech innovation, economic growth and social opportunity.<br>Previous efforts at such clusters <a href="http://www.technologyreview.com/news/516506/silicon-valley-cant-be-copied/">failed</a> for a variety of reasons, but one big reason is that government efforts alone simply don’t draw people. That’s why a recent crop of experiments has focused more on building <a href="http://www.feld.com/wp/archives/2014/04/empirical-support-boulder-thesis.html">entrepreneurial communities</a>, urban <a href="http://www.wired.com/2014/01/zappos-tony-hsieh-las-vegas/">hubs</a> and <a href="http://www.brookings.edu/about/programs/metro/innovation-districts">districts</a>, and <a href="http://www.ihub.co.ke/about">hackerspaces</a>. Still, we’re “splitting the logic” on how to create an innovation ecosystem, according to MIT expert Fiona Murray in <a href="http://www.technologyreview.com/news/516501/in-innovation-quest-regions-seek-critical-mass/"><em>Technology Review</em></a>: We’re either going top-down by focusing primarily on infrastructure—plunking down an office park next to a university—or bottom-up by focusing on just the networks. None of these efforts successfully pursue both paths at once, with government, academia and entrepreneurial communities proceeding together in lockstep—as was the case in the <a href="http://steveblank.com/secret-history/">development of Silicon Valley</a>. <br>But policymakers shouldn’t be trying to <em>copy</em> Silicon Valley. Instead, they should be figuring out what domain is (or could be) specific to their region—and then removing the regulatory hurdles for that particular domain. Because we don’t want 50 Silicon Valleys; we want <a href="https://twitter.com/pmarca/status/426587326861430785">50 different</a> variations of Silicon Valley, all unique from each other and all focusing on different domains.<br><br>Read more: <a href="http://www.politico.com/magazine/story/2014/06/turn-detroit-into-drone-valley-107853.html#ixzz34xB4VaJY">http://www.politico.com/magazine/story/2014/06/turn-detroit-into-drone-valley-107853.html#ixzz34xB4VaJY</a><br><br/><br/> vincent teo ha contestado:<br/><p>Malaysia government bias policy in Human Resources and inefficient working relationships with private sector resulted in out drain of talent for so many decades. So if you cannot even retain local talent let alone talent from abroad. </p>MaGIC Teamhttps://magic.userecho.com/users/2-magic-team/topics/tag:magic.userecho.com,2015-07-06:/communities/1/topics/30-forward-enquiry-apply-for-loan/2015-07-06T02:06:14+00:002015-07-06T02:06:14+00:00Forward enquiry: Apply for loan [ideas] Good day Sir / Madam,<div><br></div><div>I'm Punitha from Klang. I have heard about mymagic through one of my friend. The moment I came across your website,I have gained more knowledge about your amazing activities. According to my friend, there are some loan facilities available in your organization. I need more details about it. Could you please provide me more information on how to apply fro the loan, where, who can apply and what are the terms and conditions apply. Thank You for your time. Hope to hear soon from your side. </div><div><br></div><div>Thank You,</div><br/><br/>sugerido por: MaGIC CentralMaGIC Centralhttps://magic.userecho.com/users/143-magic-central/topics/tag:magic.userecho.com,2015-01-30:/communities/1/topics/48-quality-of-the-entrepreneurs-itself/2015-01-30T10:16:25+00:002015-01-30T10:16:25+00:00Quality of the entrepreneurs itself [challenges] - Not enough talent pool around town<br>- Entrepreneur is tardy<br>- Good at complaining really bad at execution<br>- Cant handle feedback<br>- Cant work / team up with other entrepreneurs in complementing each other product<br>- Launched the wrong product with wrong business model<br>- Syok sendiri<br><br/><br/> Farhan Yun Hanimi ha contestado:<br/>I might be too young to say this however, if you look at the way most malaysian do business, its totally easy money kind of business. We depends completely on the goverment. We do mot have products establish globallyReza Razalihttps://magic.userecho.com/users/14-reza-razali/topics/tag:magic.userecho.com,2014-10-10:/communities/1/topics/44-make-it-easier-to-hire-foreigners-on-a-temporary-basis-change-the-professional-visit-pass-pvp/2014-10-10T00:53:51+00:002014-10-10T00:53:51+00:00Make it easier to hire foreigners on a temporary basis: change the Professional Visit Pass (PVP) requirements [ideas] In many cases, you'll want to get people in your foreign offices to get a handle on things by getting them to work at HQ for a while. However, getting Professional Visit Passes (PVPs) -- temporary work permits -- can't be done unless a company or university in the country of origin says they are employing this person or that they're studying there.<br/><br/> Nur Azhar ha contestado:<br/>a lot fake degree nowadaysKal Joffreshttps://magic.userecho.com/users/32-kal-joffres/topics/tag:magic.userecho.com,2014-10-03:/communities/1/topics/19-hello-how-would-this-platform-apply-to-fundraising-thanks/2014-10-03T08:04:44+00:002014-10-03T08:04:44+00:00Hello, How would this platform apply to fundraising? Thanks [ideas] <br/><br/>sugerido por: MoochiebellaMoochiebellahttps://magic.userecho.com/users/112-moochiebella/topics/tag:magic.userecho.com,2014-10-01:/communities/1/topics/27-lack-of-qualified-engineers-to-build-mvps-or-product/2014-10-01T10:06:22+00:002014-10-01T10:06:22+00:00Lack of qualified engineers to build MVPs or product [challenges] We don't have enough good engineers in current programming languages eg RoR, Python or node.js. Most php, .net, and front-end developers are not keeping abreast with the latest framework or best practices (eg. github, etc) and are not keeping up with the evolving technologies.<br/><br/> Muz ha contestado:<br/>The only good programming language is what gets the job done. Once a company gets their millions of cash, they can start building something in a 'proper' language for the long term. Until then, what's important is getting a prototype/MVP done ASAP.MaGIC Teamhttps://magic.userecho.com/users/2-magic-team/topics/tag:magic.userecho.com,2014-09-26:/communities/1/topics/6-too-focus-on-money-making-in-early-stage/2014-09-26T23:33:56+00:002014-09-26T23:33:56+00:00too focus on money making in early stage [roadblocks] Many mentors and investors like to tell entrepreneur to identify the money making element, that kill a lot of innvotive ideas, and make Malaysian's startup to only focus on the same business models, or copy from another workable idea. <br><br/><br/> Muz ha contestado:<br/>The focus shouldn't be on making money, but making revenue. Investors love companies that are burning money but making big revenue. Revenue means that the market is there.lu chen pinhttps://magic.userecho.com/users/29-lu-chen-pin/topics/tag:magic.userecho.com,2014-09-26:/communities/1/topics/3-it-is-hard-to-hire-good-talent/2014-09-26T23:26:18+00:002014-09-26T23:26:18+00:00It is hard to hire good talent. [challenges] It is hard to hire good talent as most of them have better paying options in MNC <br/><br/> Muz ha contestado:<br/>Actually not true. I've never worked in a MNC and wouldn't even want to. There are those who love the fast paced rush of a startup and those who enjoy the high pay and stability of a MNC. Everyone I know who works in a startup wants to ride on rapid growth and enjoy developing new products.<br><br>Startups should not be competing on pay. They should be competing on equity and faster pay rise. Of course, these startups need to actually grow and succeed. One successful startup I know started paying its early workers RM2k, a decade later, that same person is making RM30k+. Daniel Cerventus Limhttps://magic.userecho.com/users/4-daniel-cerventus-lim/topics/tag:magic.userecho.com,2014-08-08:/communities/1/topics/23-not-enough-exposure-for-some-of-the-great-stuffs-that-some-of-us-are-doing/2014-08-08T10:49:14+00:002014-08-08T10:49:14+00:00Not enough exposure for some of the great stuffs that some of us are doing. [challenges] Most Malaysians tend to believe that all local stuffs are not that great (Proton Mentality), and that we are not capable of anything good and all great things can only be done by foreigners. Compounded by the fact that some media exposure, tv shows and events go on to expose half baked ideas, while companies with traction hardly get any exposure.<br/><br/> BigVee ha contestado:<br/>To add on that, the list should only contain companies that meet certain criteria, like if their main operations involve ecommerce, mobile apps and etc. For example checkout <a href="http://www.worldstartupwiki.org/page/Malaysia%20Opportunities">http://www.worldstartupwiki.org/page/Malaysia%20Op...</a> <br><br>At the bottom, they list out in each industry, who the global and local market leaders are. I never knew about Delima HOme, and that they were one of the main local players in the Home furnishing industry. Now I know and I may buy from them. <br>Thomas Yiphttps://magic.userecho.com/users/10-thomas-yip/topics/tag:magic.userecho.com,2014-08-08:/communities/1/topics/5-government-is-our-main-roadbock-through-its-fear-of-ideas/2014-08-08T09:52:43+00:002014-08-08T09:52:43+00:00Government is our main roadbock, through its fear of ideas [roadblocks] Since its inception, BFM Radio, a business radio station I founded, has tried to expand our broadcast footprint beyond the Klang Valley, only to meet official intransigence. We have dedicated programming for entrepreneurs, so that they can be matched to potential funders, business partners, customers, but all this is for nought outside of the Klang Valley. Our fault seems to be that other parts of our programming demand the same fiduciary responsibilities of government that the private sector demands of its corporate leaders.<br><br>So yes, the Malaysian government is our main impediment to growth. But maybe there's an unintended consequence: It has forced us to go abroad to seek growth. <br><br>It's interesting how government restrictions has caused some of our Malaysian companies to go abroad and become global or regional leaders - Eversendai, who built one of the KLCC towers through a subcontract by the Koreans, was not given more work in Malaysia and had to go to the Middle East, where it went on to build the Burj Al-Khalifa, and now is the global leader in steel structures. Other examples include Top Glove, Supermax (no. 1 and 2 global leaders in the rubber glove industry), and AirAsia (the way AirAsia is treated by Malaysia Airports, given that the passenger traffic that AirAsia brings is the single most important reason for MAHB's success, is abysmal). We also now see entrepreneurs being squeezed out by government-linked entities (SP Setia, E&O, Sunrise), and government entities competing with private sector for business (1MDB, a fund guaranteed by taxpayer's money is competing with a slew of private sector entities for renewal of power plant concessions). <br/><br/> BigVee ha contestado:<br/>Based on Malik's comments, my take is that the 'government road block' applies mostly to businesses in the growth and maturity stages. Unfortunately this is more apparent if your growth strategy is focused locally, which is inevitable for some businesses, e.g. BFM. (my fav radio station by the way)<br><br>Having said that, If my startup is a global product and has gained traction in Malaysia and has also won international awards, the growth in Malaysia would be the last thing I worry about. If the product is good enough for the world stage, I would focus on global expansion and never look back. There will be no short of funding especially if you have won awards in the US. <br><br>To be honest, for me as a tech entrepreneur, this issue is the last thing I worry about as I truly believe the support from the government for startups is fairly good. I attended a startup event that led to the opening of the Magic building and I, who have been in the tech industry for 6 years felt it was a great event. This never would've happened if government support wasn't there. <br><br>I do see where some of your comments are coming from, but to bring politics in, it is as if we are asking Magic or Cheryl to solve corruption in Malaysia, which I would love to see them do but unfortunately it aint happening. <br><br>Maybe the route for this discussion would be:<br><br>1) What types of businesses, tech startups maybe affected by these so called Governement Road blocks? I.e. Mobile apps that may interfere with regulation, government processes, radio stations, etc? <br><br><br><br><br>Malek Alihttps://magic.userecho.com/users/43-malek-ali/topics/tag:magic.userecho.com,2014-07-04:/communities/1/topics/12-difficult-to-get-loans-from-banks-as-technology-companies-are-perceived-to-be-of-higher-risks/2014-07-04T03:09:29+00:002014-07-04T03:09:29+00:00Difficult to get loans from banks as Technology companies are perceived to be of higher risks. [roadblocks] <br/><br/> Prathaban Raju ha contestado:<br/>In my first business the banks wanted to see at least 2-3 years of credit history and company accounts. One can hardly call themselves a startup after that period of time and if you haven't achieved a sustainable business model by then, probably its time for a exit strategy or you have some big plans for expansion. But then again...why commit yourself to debt.<br>My biggest roadblock in my second business is trying to get grants. I can't even get a response from the so called ministries and bodies set up to assist startups/SMEs...<br>Every door that i knock on seems to be closed. I met a journalist that told me most of these startup face the same problems...so what is the role of these bodies such ANGEL/SEED and how are we supposed to get their attention?TeAMhttps://magic.userecho.com/users/30-team/topics/tag:magic.userecho.com,2014-06-28:/communities/1/topics/16-we-need-a-failcon-to-document-failures-as-well-as-successes/2014-06-28T07:29:28+00:002014-06-28T07:29:28+00:00We need a #Failcon to document failures as well as successes [ideas] Too often the ecosystem drinks its own Koolaid and forgets that we have as much if not more to learn from previous failures than the few successes. <br><br>Knowing history allows higher chances of predicting the future.<br/><br/>sugerido por: Warren LeowWarren Leowhttps://magic.userecho.com/users/89-warren-leow/topics/tag:magic.userecho.com,2014-06-26:/communities/1/topics/31-insufficient-collaboration-between-biz-community-and-startups/2014-06-26T08:29:42+00:002014-06-26T08:29:42+00:00Insufficient collaboration between biz community and startups [challenges] 1. Biz community is not aware of the ideas / technologies available in the startup scene. This will impede general growth as startups may develop ideas which may have market acceptance issues or businesses may be slow to innovate<br/><br/> IKargo Mgmt ha contestado:<br/>Hi Warren. Thanks. Market access is not for me. I brought this up for fresh grads who has not been around or built up enough contacts yet. They may have a good idea which never be heard. <br><br>I believe MaGIC should reach out to the corporates to promote the new ideas and technologies available. <br><br>Ps. Let me know when u want to go back to school ;) IKargo Mgmthttps://magic.userecho.com/users/22-ikargo-mgmt/topics/tag:magic.userecho.com,2014-06-23:/communities/1/topics/18-dont-just-invest-in-ideas-invest-in-character-building-in-entrepeneurs/2014-06-23T06:37:16+00:002014-06-23T06:37:16+00:00Don't just invest in ideas, invest in character building in entrepeneurs [ideas] Entrepreneurship is not just about taking risk. To build a sustainable business, the founder's character is tested in good times and bad times, leadership, patience, endurance, courage, confidence etc. The rise and fall is on the leader and government can put more resources in building good character leaders in the marketplace.<br/><br/> Warren Leow ha contestado:<br/><ol><li>Entrepreneurs need to learn to work together rather than against each other</li><li>Entrepreneurs ought to share constructively, rather than blindly criticise and rant</li><li>Entrepreneurs should be taught humility goes a long way and helps in networking</li><li>Entrepreneurs shouldn't syiok sendiri</li><li>Entrepreneurs should have a calibrated sense of risk</li></ol>Jef Onghttps://magic.userecho.com/users/20-jef-ong/topics/tag:magic.userecho.com,2014-06-23:/communities/1/topics/17-so-whats-the-action-plan-from-the-dialog/2014-06-23T05:16:32+00:002014-06-23T05:16:32+00:00So, what's the action plan from the dialog? [challenges] Sorry can't attend the meeting, like to know what's the action plan from the dialog.<br/><br/>sugerido por: Chen Shiang KhooChen Shiang Khoohttps://magic.userecho.com/users/78-chen-shiang-khoo/topics/tag:magic.userecho.com,2014-06-23:/communities/1/topics/11-telcos-media-companies-and-banks-could-be-more-supportive-together-to-build-jaguh-kampung-first/2014-06-23T04:27:58+00:002014-06-23T04:27:58+00:00Telcos, Media Companies and Banks could be more supportive TOGETHER to build Jaguh Kampung first [challenges] We need Telcos, Media Companies and Banks in Malaysia to do their part to cultivate local champions that can then go regional and international.<br><br>Being a Jaguh Kampung can be a curse and a blessing. For some businesses, it would make sense to build a foundation in Malaysia ASAP and use it as a springboard.<br><br>If MaGIC can get telcos, banks and media companies to work together by industry, instead of in isolation, Malaysia would be an ideal place to test many new ideas. Just like how South Korea was supercharged with heavy investments in broadband, we can lay the foundations for soft-wiring for the future.<br><br>Perhaps a structured way to highlight pre-filtered ideas and startups to them.<br><br>Scenarios that can supercharge Malaysia<br><br><ol><li><strong><u>Telcos, media companies and banks</u></strong> encouraged to set up pools of venture capital in collectives and syndicates. E.g. In addition of having an incubator each, it would make sense for the telcos to commit a few million each into a centralised fund and test this as an investment model. Same goes for banks if we are talking fintech.</li><li><strong><u>Liberalised Payments</u></strong>: Easier mobile payments and in-app purchases- liberalise carrier billing and transaction costs in Malaysia!</li><li><strong><u>National App Stor</u></strong>e: Easier app discovery instead of just having to rely on Google Play Store and iTunes- help Malaysian app makers reach the first 100k downloads locally</li><li><strong><u>Coordinated marketing</u></strong> and cross promotion- get MediaPrima, Astro, The Star etc. to commit more to supporting startups in terms of coverage</li></ol><br/><br/>sugerido por: Warren LeowWarren Leowhttps://magic.userecho.com/users/89-warren-leow/topics/tag:magic.userecho.com,2014-06-22:/communities/1/topics/10-dont-afraid-people-stealing-your-ideas/2014-06-22T11:07:47+00:002014-06-22T11:07:47+00:00Don't afraid people stealing your ideas [roadblocks] I attended a lot of tech events for networking and sharing in the past year.<br>During the conversation with some startups, I realize that normally they are not willing to share all the problem or situation they are facing.<br>After asking more only know that they afraid people will steal their ideas, so everything only mention a little bit.<br>Of course, I can't deny the possibility of your ideas being stolen.<br>But please understand that, what is the consideration between after people listened and start taking action.<br><br>1. Development cost & risk<br><br>This is the most common issue. You afraid people will start developing after heard your ideas, then you already lost the first mover advantage. But, you are totally ignoring the cost & risk of the ideas development.<br><br>Basically, you think how perfect, unique, profitable this idea is (believe me, normally it is based on your own assumption only). People will consider their own resources, cost of development, cost of A&P, and the risk before start doing it. This is the reason why people won't start development immediately after they heard an idea.<br><br>2. The personal experience of the idea creator<br><br>If both investment firm general manager and your neighbour recommend you two companies share, who will you listen to?<br>If you and your team are first time entrepreneurs, I think you can share your ideas. No one will care about it. If you still got some consideration, then find a trustful person and share with him/her privately. So you can get feedback of your idea and improve it.<br><br>3. The company behind this guy got huge fund, they may execute it very quickly<br>Yes, but think in the positive way: They already have so much money, why they want to jump into a unknown market? With their resources, fund, connection, they can easy do other proven business.<br><br>Hope it can help, cheers!<br/><br/>sugerido por: Benson ChangBenson Changhttps://magic.userecho.com/users/17-benson-chang/topics/tag:magic.userecho.com,2014-06-20:/communities/1/topics/9-lack-of-silicon-valley-opportunities-and-programs/2014-06-20T17:52:40+00:002014-06-20T17:52:40+00:00Lack of Silicon Valley Opportunities and Programs [ideas] I think the country lack of these and it is very more important to have more of it.<br><br>To make Malaysia a 'truly' world class tech startup country, we need to sponsor and send more talented people over to the United States for the best entrepreneurship training and education.<br><br>A few great example of those who have benefited from such programs would be Robin Li of Baidu, Jack Ma of Alibaba, Masayoshi Son of Softbank plus many more.<br><br>Malaysia tech startup scene is too focus on developing the local and regional niche markets due to low competition and market proximity. However, the tradeoffs can be huge as well such as far less lucrative regional markets, low equity valuation and lack of uniqueness / superiority of the startup applications.<br><br>I believe to be truly world class, one needs to look forward and start from appropriate overseas market as well.<br><br>A perfect example would be Petronas Oil and gas businesses which contributes 33% of Malaysia's overall GDP. Malaysia is blessed with quite a lot of oil and gas reserves however compared to OPEC nations and other oil superpower nations, we are actually very small.<br><br>If Petronas only focus on developing local oil and gas fields and sell to local markets, Malaysia's economy would have literally collapsed long time ago and the GDP would have only increased with very little percentage year-on-year. <br><br>Therefore, overseas development and markets are actually a lot more important than local ones in this respect and it cannot be overlooked in anyway.<br><br>However, many of our policy and decision makers in this country can be extremely myopic minded due to their outdated ideologies and traditional mindset. <br><br>Something needs to be done immediately in order to right this wrong and hopefully somebody here can do something about it.<br><br/><br/>sugerido por: Dav HoiDav Hoihttps://magic.userecho.com/users/82-dav-hoi/topics/tag:magic.userecho.com,2014-06-20:/communities/1/topics/35-just-curious-any-result-on-the-discussion/2014-06-20T16:27:39+00:002014-06-20T16:27:39+00:00Just curious, any result on the discussion? [preguntas] After the meet up, any result or conclusion?<br/><br/>sugerido por: Wong Wei LoonWong Wei Loonhttps://magic.userecho.com/users/24-wong-wei-loon/topics/tag:magic.userecho.com,2014-06-20:/communities/1/topics/55-business-type-founders-are-too-greedy-with-their-equity-and-thinks-idea-is-king/2014-06-20T02:31:56+00:002014-06-20T02:31:56+00:00Business type founders are too greedy with their equity and thinks idea is king [roadblocks] Local start-ups are greedy and don't want to pay well in terms of salary or equity. I've encountered situations where engineers are expected to match the business founder in terms of cash in order to get significant equity. Their mindset is wrong. A techie's investment is his/her ability to build the product and that itself is an investment starting from RM 30K to RM 100K+ depending on how long he/she has to code and how broad his/her skills are - back-end, front-end, iOS app, Android app, etc. Without the initial MVP and iterating quickly, there is no business to start with. <br><br>For every idea person who thinks idea is king and he/she should own 80-90% of the company, a developer who got duped will have to spend at least 1-3 months of his time to build the product. So best to treat the developer as an equal and then you can call the techie a tech co-founder. <br><br>The challenge is in finding a techie who also has a business & marketing mind and is not just there to slave away at the snap of the business founders' fingers. If such technical founders cannot be found and offered significant equity, then the business founders should save money and pay a competent programmer properly.<br><br>Going back to the greedy business founder I met. In the end they would rather the start-up die rather than give away equity. Which is what happened 6 months later, even though they secured Cradle Catalyst fund of RM 150K.<br/><br/> Benson Chang ha contestado:<br/>Hi Wei Loon, not everything of course. If you look into my previous reply carefully you will realize I only point out one of the responsibly of the leader is seeking fund to keep the company alive and grow. Fai Wonghttps://magic.userecho.com/users/74-fai-wong/topics/tag:magic.userecho.com,2014-06-20:/communities/1/topics/34-not-enough-mentors-for-startups/2014-06-20T00:45:24+00:002014-06-20T00:45:24+00:00Not enough mentors for startups [challenges] We don't have enough mentors with the appropriate technical skills for startups to go to for help and advise. A lot us have to rely on troubleshooting, trial & error, which could take time.<br/><br/> Wan Adli Wan Hassan ha contestado:<br/>I've posted this in another thread but i feel it is also appropriate here. So i will do what a programmers does best ...copy&paste ;)<br><br>************************************************************************************<br>I would like to add on to the suggestions<br><ul><li>All universities grants their lecturers a sabbatical leave where they can get attached to other universities for sake of knowledge acquisition. Maybe magic or some government agency can introduce same concept where the founders or key personnel in a start up can get attached in a more established company to gain insightful technical knowledge. As we know there just certain things that are not taught in schools eg proper git management, A/B testing, scrum, etc. These practical technical knowledge is what a lot of start ups are facing. </li><li>Cradle, MDEC, etc already provides a lot of business coaching but nobody is providing the technical coaching. I believe in order to be successful you need to be able to balance the two. I'm sure we have seen a lot of tech start up that have shown good potential but could not get there because their technical skills are just not good enough. </li><li>e.g. My company is good with mobile development but we lack skills in game development. So I would like to send my people over to intern at a game development company. That game developer might be good in their field but lack skills in mobile. I would gladly accept their people and teach them mobile development. I'm sure you catch my drift ;)</li></ul>MaGIC Teamhttps://magic.userecho.com/users/2-magic-team/topics/tag:magic.userecho.com,2014-06-20:/communities/1/topics/26-lack-of-domain-knowledge-or-network-to-acquire-it/2014-06-20T00:36:52+00:002014-06-20T00:36:52+00:00Lack of domain knowledge or network to acquire it [challenges] A lot of entrepreneur nowadays started relatively young, often has little work experience. They were not exposed to actual industry practice enough to have meaningful insights into the particular industry and offer disruptive ideas.<br><br>For example, someone with an idea to disrupt medical industry might have never work in any part of medical industry or even know anyone within in.<br><br>This is made worse by the fact that they had no network or know anyone around them that can connect to them that domain. Some are lucky enough to have well-connected families (business network) that can open the initial door or help with the initial discovery process, but for many, it is a challenge to even get started. <br><br>What happen then is that tech-startups that are started by youngster tends to focus too much on consumer internet, or worse, they started a project that is a complete mismatch with what the industry needs.<br><br><strong>My Suggestion</strong><br><br><ol><li>Work to get other startups and GLC to build a solid and meaningful internship or apprenticeship program.</li><li>Build a process or a network where founder can tap into industry's experts or experience for feedback on their idea. This helps people build the network they might need later.</li><li>Host events where people from various industry talk about their industry challenges. (financial, insurance, medical, etc...). This should open up our founders mind to new things (not just what they read online)</li></ol><br/><br/> Wan Adli Wan Hassan ha contestado:<br/>I agree with Azrul but i also feel that most start ups lack the strong technical knowledge to even come up wt a solid MVP.<br>Even their technical domain knowledge is not up to par. <br><br>I would like to add on to the suggestions<br><ul><li>All universities grants their lecturers a sabbatical leave where they can get attached to other universities for sake of knowledge acquisition. Maybe magic or some government agency can introduce same concept where the founders or key personnel in a start up can get attached in a more established company to gain insightful technical knowledge. As we know there just certain things that are not taught in schools eg proper git management, A/B testing, scrum, etc. These practical technical knowledge is what a lot of start ups are facing. </li><li>Cradle, MDEC, etc already provides a lot of business coaching but nobody is providing the technical coaching. I believe in order to be successful you need to be able to balance the two. I'm sure we have seen a lot of tech start up that have shown good potential but could not get there because their technical skills are just not good enough. </li><li>e.g. My company is good with mobile development but we lack skills in game development. So I would like to send my people over to intern at a game development company. That game developer might be good in their field but lack skills in mobile. I would gladly accept their people and teach them mobile development. I'm sure you catch my drift ;)</li></ul><br>My two cents <br>Azrul Rahimhttps://magic.userecho.com/users/132-azrul-rahim/topics/tag:magic.userecho.com,2014-06-19:/communities/1/topics/39-critical-mass/2014-06-19T16:11:07+00:002014-06-19T16:11:07+00:00Critical Mass [ideas] Whilst fixing the gaps in the pipeline post the Discovery stage, I believe we need to increase the number of young people wanting to solve problems and become venture creators. So I would think more young people need to be thought how to build ventures from school or universities. StartupMalaysia.org is happy to support in this effort. And definitely in the acceleration phase as well.<br/><br/> Wong Wei Loon ha contestado:<br/>Dash, I thought you are saying about acquiring critical mass for users! :D<br><br>Anyway, try to have a look at "Diffusion of Innovation" by Everett Rogers. Critical Mass, man.<br>Dash Dhakshinamoorthyhttps://magic.userecho.com/users/57-dash-dhakshinamoorthy/topics/tag:magic.userecho.com,2014-06-19:/communities/1/topics/25-lack-of-knowledge-on-protection-of-intellectual-property/2014-06-19T14:01:07+00:002014-06-19T14:01:07+00:00Lack of knowledge on protection of intellectual property [challenges] Everyone have their own ideas, but our environment and knowledge to protect own IP is limited, we are worry ideas being stolen that's why do not dare to share ideas to other people, It create a self contain environment which is worst for entrepreneur.<br/><br/> Wong Wei Loon ha contestado:<br/>We try not to judge for the first 30 minutes before we understand people ideas and ability. Once we comprehend things, we should be frank and honest. We will not confuse bad is bad and take it as another word. If things is half baked cake, then it is half baked cake. I got my fair share of making half baked cake, expiring cake and now even baking a cake. <br><br>So, we don't tell ever our idea is suck. But we can differentiate whether things smell good or not. Thanks my team for reminding me there is such thing called "cake". We must shallow our "cake" or else we won't be able to comprehend anything.<br><br>To the people out there, if someone tell you your ideas or execution sucks, it means A) You did a good job to reach out; B) People cared for you. Now take care of bad news and move forward. The worst news we can get is no news at all. <br>Ricksonhttps://magic.userecho.com/users/60-rickson/topics/tag:magic.userecho.com,2014-06-19:/communities/1/topics/8-we-needs-a-clean-and-transparent-government-for-magic-to-happen/2014-06-19T10:39:00+00:002014-06-19T10:39:00+00:00We needs a clean and transparent government for Magic to happen [roadblocks] For Magic to really happen, especially to support Malaysia Startup, I think the most important things for our Government to be transparent and Clean.<br><br>Not sure if you aware of this, few years back, we have a Safety App call "MyDistress", sponsored by PDRM Selangor, it's free to use, and so far, very effective app, as it direct link to Police Selangor..<br><br>Then our Government decided to kill the project, and started a New App call "SaveMe999", Project Cost-> RM 1 billion, without open tender, and not asking us "Watch Over Me App" to submit proposal, An App that have won Several International Awards (Including best Startup at Silicon Valley at 2012), and features in number of TV in US. <br><br>We aren't given chance to proof ourself..<br><br>How can we compete and growth in this environment?<br/><br/> Siang Boon Goh ha contestado:<br/>Cheryl, unfortunately the seats of ED are limited and not all of us are able to participate. Appreciated that you can highlight the roadmap of MaGIC.Chen Shiang Khoohttps://magic.userecho.com/users/78-chen-shiang-khoo/topics/tag:magic.userecho.com,2014-06-19:/communities/1/topics/33-lack-of-support-from-our-own-malaysian-companies/2014-06-19T02:23:07+00:002014-06-19T02:23:07+00:00Lack of support from our own Malaysian companies [challenges] Malaysian companies prefer turning to foreign software/applications for their business<br/><br/> Siang Boon Goh ha contestado:<br/>It may be true for some cases especially in government, GLC, enterprise, or big corporation, as the "person-in-charge" who may just believe more on the past experience and reputation as they may not want to bear the risk, or want to secure their position, but on the other hand, it is not always true because I personal experienced that there were some cases where Malaysia companies prefer local software providers instead for the reason that the solutions and supports are more localized to the Malaysian company. My opinion is understand our clients' needs, strengthen our advantages and also fine tune our weakness.TeAMhttps://magic.userecho.com/users/30-team/topics/tag:magic.userecho.com,2014-06-19:/communities/1/topics/53-lack-of-entrepreneurial-education/2014-06-19T00:19:23+00:002014-06-19T00:19:23+00:00Lack of entrepreneurial education [roadblocks] Reading only Techcrunch is insufficient to understand what it takes and what to expect when starting an entrepreneurial journey. <br><br>Typical and over-heard reactions: "I'm thinking off dropping of because Bill Gates and Mark Zuckerberg did." "My customers? Who do I target? Everybody of course!"<br/><br/> Mohd Firdaus Mohd Johari ha contestado:<br/>I agree! In university, entrepreneurship means 'selling fruits or cakes at a stall'. We are not thought the Business Model Canvas. Many 'entrepreneurship' events are usually more motivation talks. Again, Business Model, Revenue Channel & Pricing Models are rarely heard.<br><br>We need more classes & events that specifically teach us Lean Model Canvas and focus on the business side and not the technical & coding part...<br><br>Below is the best we have in terms of the 'flow' of classes to graduate...<br><br><img src="/s/attachments/1/0/1026333/59545a88e3cc56658623e35327ff1e9e.jpg">Jacques Sunhttps://magic.userecho.com/users/49-jacques-sun/topics/tag:magic.userecho.com,2014-06-18:/communities/1/topics/54-corporate-worldlend-me-your-ears/2014-06-18T19:25:29+00:002014-06-18T19:25:29+00:00Corporate World....Lend me your ears! [roadblocks] My biggest difficulty is getting access to people who are willing to listen and give you a chance to share your product or service in the "BIG Corporate World". Calls are not returned, SMSes and e-mails are not replied and getting a face to face appointment is next to impossible. In my industry is is unacceptable if a call is left unanswered or a person left waiting without a response as we are governed by a code of ethics.<br>1. Is this common culture when it comes to presenting your service to large corporations i.e staff >50?<br>2. How do i get my elevator pitch converted to a response (positive or negative...just give me a reply)?<br>3. Being heard by corporate agencies is tough enough, How do we get noticed by Government bodies and their agencies?<br><br/><br/>sugerido por: Prathaban RajuPrathaban Rajuhttps://magic.userecho.com/users/72-prathaban-raju/topics/tag:magic.userecho.com,2014-06-18:/communities/1/topics/4-the-entrepreneurship-education-mirrors-that-of-developed-countries-like-us-and-european-the-content/2014-06-18T10:40:06+00:002014-06-18T10:40:06+00:00The entrepreneurship education mirrors that of developed countries like US and European. The content of the syllabus can apply partially to Malaysian entrepreneur. [challenges] <br/><br/> Entrepreneur University ha contestado:<br/>So what would you do if you were at the position to make some changes?Howhoon Chewhttps://magic.userecho.com/users/66-howhoon-chew/topics/tag:magic.userecho.com,2014-06-18:/communities/1/topics/13-how-to-manage-cost-efficiently-at-discovery-and-validation-stage/2014-06-18T10:08:57+00:002014-06-18T10:08:57+00:00How to manage cost efficiently at discovery and validation stage. [ideas] Service providers in Malaysia sometimes charge startups the same as how they charge big companies (for eg: payment gateways, logistics etc)<br/><br/>sugerido por: Rue-Hann LimRue-Hann Limhttps://magic.userecho.com/users/67-rue-hann-lim/topics/tag:magic.userecho.com,2014-06-18:/communities/1/topics/37-roadblocks-in-the-way-of-hiring-talent/2014-06-18T06:26:15+00:002014-06-18T06:26:15+00:00Roadblocks in the way of hiring talent. [roadblocks] Particularly those from overseas - foreigners and Malaysian graduates from overseas e.g. startups cannot get into STAR prog, cannot get Employment Pass, etc.<br/><br/> Entrepreneur University ha contestado:<br/>HI Shawn, what do you mean by Malaysian graduates "cannot get Employment Pass.."?Shawn Tanhttps://magic.userecho.com/users/59-shawn-tan/topics/tag:magic.userecho.com,2014-06-18:/communities/1/topics/24-chile-teaches-the-world-a-lesson-about-innovation/2014-06-18T02:28:32+00:002014-06-18T02:28:32+00:00Chile Teaches The World A Lesson About Innovation [ideas] Chile launched a<a href="http://wadhwa.com/2010/12/18/chile%E2%80%99s-grand-innovation-experiment/"> grand innovation experiment</a> in 2010: it paid foreign entrepreneurs to come and visit for six months. It offered them $40,000 plus free office space, Internet access, mentoring, and networking. And, by the way, they would get to live in one of the most beautiful places on this planet, where housing was relatively cheap and corruption and crime were almost nonexistent. All Chile asked in return was that the foreigners interact with local entrepreneurs and consider making the country their permanent home.<br><br>It seems too good to be true, doesn’t it? Indeed, many people thought that the idea was crazy. But Chile was making a bet — that the foreign entrepreneurs would transform its entrepreneurial culture by teaching the locals how to take risks, help each other, and form global connections.<br>The experiment, called <a href="http://www.startupchile.org/">Start-Up Chile</a>, was such a runaway success that, in an Oct. 2012 story, The Economist dubbed it “<a href="http://www.economist.com/node/21564589">Chilecon Valley</a>.”<br>Santiago is today buzzing with entrepreneurial activity; university students often look to join start-ups rather than big companies; Start-Up Chile has gained brand recognition in innovation circles worldwide; and local entrepreneurs are becoming more ambitious and looking for opportunities abroad. This is what I have personally observed during my trips there.<br>Start-Up Chile has also been flooded with applications—more than 12,268, from 112 countries. According to Start-Up Chile’s executive director, Sebastian Vidal, 810 startups from 65 countries have so far been admitted into the program. The first 199 companies that visited Chile and returned home reported that they had raised a total of $72 million in funding. A batch of 132 companies that chose to stay there reported that they had raised $26 million. Several start-ups have had successful exits, and hundreds of others expect to make it big.<br>This is pretty good by entrepreneurial standards, considering that Chile has invested only about $35 million in this experiment. Other countries have spent hundreds of millions — even billions — of dollars in their efforts to create technology hubs.<br><br><a href="http://www.washingtonpost.com/blogs/innovations/wp/2014/06/11/chile-teaches-the-world-a-lesson-about-innovation/">http://www.washingtonpost.com/blogs/innovations/wp/2014/06/11/chile-teaches-the-world-a-lesson-about-innovation/</a><br><br/><br/>sugerido por: MaGIC TeamMaGIC Teamhttps://magic.userecho.com/users/2-magic-team/topics/tag:magic.userecho.com,2014-06-18:/communities/1/topics/42-most-programmes-and-accelerators-are-suited-only-for-software-startups-with-insufficient-funding/2014-06-18T02:22:31+00:002014-06-18T02:22:31+00:00Most programmes and accelerators are suited only for software startups, with insufficient funding and limited facilities for hardware products. [challenges] Hardware development requires labs being sourced, as most accelerators lack proper facilities and tools for hardware. Eng noted the impracticality of buying tools and equipment, due to the expense involved, sharing that sourcing for labs and buying equipment inflated costs for hardware startups, while facilities are also not easily accessible in Malaysia.<br/><br/> MaGIC Team ha cambiado el estado a Ray Tenghttps://magic.userecho.com/users/54-ray-teng/topics/tag:magic.userecho.com,2014-06-16:/communities/1/topics/41-too-much-big-business-mentality-in-startup/2014-06-16T08:01:27+00:002014-06-16T08:01:27+00:00Too much big business mentality in startup [challenges] <a href="http://www.digitalnewsasia.com/sizzle-fizzle/two-years-and-a-pivot-later-code-army-marches-on-with-lean-startup-machine">http://www.digitalnewsasia.com/sizzle-fizzle/two-y...</a><br><br>Big business mentality is too common in startup. In fact, people thought startup should be a company where all thing are organised and sorted out. Far from fact, startup is a team of people with a vision to an uncharted land, we don't know what we will be, or what we should be. We just know where the land roughly is.<br><br>Most of the time, this "big business" mentality is a stumbling block for startup that monetise too early. A million dollar is not cool. What is cool? A billion dollar. <br/><br/>sugerido por: Wong Wei LoonWong Wei Loonhttps://magic.userecho.com/users/24-wong-wei-loon/topics/tag:magic.userecho.com,2014-06-16:/communities/1/topics/20-government-policy-is-the-biggest-stumbling-block-in-this-day-and-age-there-are-still-funds-meant/2014-06-16T04:18:22+00:002014-06-16T04:18:22+00:00Government policy is the biggest stumbling block. In this day and age, there are still funds meant for one specific race. The scene is Sg is so much more vibrant and that's why they do so much better. [challenges] <br/><br/>sugerido por: Ky-Gan TengKy-Gan Tenghttps://magic.userecho.com/users/48-ky-gan-teng/topics/tag:magic.userecho.com,2014-06-16:/communities/1/topics/45-malaysian-entrepreneurs-want-to-stay-low-profile-locally/2014-06-16T04:06:06+00:002014-06-16T04:06:06+00:00Malaysian entrepreneurs want to stay "low profile" locally [challenges] I was talking to an entrepreneur who recently received a huge investment from a US VC-backed company, and his news was plastered on international news. But when I asked him to share his news to the local dailies, his response was "want to stay low profile locally." Is this mentality a problem when our local hero's are too shy to come out of their shell? <br/><br/> Stranger108 ha contestado:<br/>Penang-based rich media mobile ad creator startup MobileAds (previously known as RichMobileAds) has received an undisclosed strategic investment from Seattle-headquartered HasOffers. MobileAds CEO and founder Alvin Koay couldn’t share the exact figure but did say it is a bridge round to its series A.<br><br>Read more: 8 startup funding rounds in Asia last week <a href="http://www.techinasia.com/8-startup-funding-rounds-asia-week-june-16-2014/">http://www.techinasia.com/8-startup-funding-rounds-asia-week-june-16-2014/</a>MaGIC Teamhttps://magic.userecho.com/users/2-magic-team/topics/tag:magic.userecho.com,2014-06-16:/communities/1/topics/50-insufficient-domain-knowledge-at-the-governmental-agencies-that-influence-or-govern-the-creative/2014-06-16T03:30:26+00:002014-06-16T03:30:26+00:00Insufficient domain knowledge at the governmental agencies that influence or govern the creative content industry [roadblocks] As Malaysia tries to attract international players to produce and co-produce here through new incentives like FIMI (Film in Malaysia Incentive), it is clear that a knowledge and skills gap exists at the agencies responsible for the facilitation of this. The rationale and the incentives are correct but as usual, the implementation lets us down. There is always a disconnect between intention, strategy and implementation.<br/><br/>sugerido por: Low Huoi SeongLow Huoi Seonghttps://magic.userecho.com/users/46-low-huoi-seong/topics/tag:magic.userecho.com,2014-06-15:/communities/1/topics/49-the-absence-of-radical-openness-and-liberal-culture-to-encourage-startups/2014-06-15T16:07:45+00:002014-06-15T16:07:45+00:00The absence of radical openness and liberal culture to encourage startups. [challenges] Radical openness and liberal culture common in the West is the hidden background factor that pushes people to think creatively and pursuit their ideas. Normal and casual discussions in cafe or classroom can spontaneously turn into a startup idea. <br>Of course, equipped with their advantages of having more talents (coders, capitals etc.), they can turn that idea into actual product more easily.<br>These are the important but often-ignored things that are rare in Malaysia.<br/><br/> Dinesh Nair ha contestado:<br/>i'd agree. beep me when you're free. you know how to reach me.Keng Wah Loonhttps://magic.userecho.com/users/31-keng-wah-loon/topics/tag:magic.userecho.com,2014-06-15:/communities/1/topics/43-enterprise-customers-want-product-information-deck-over-initial-demo-meeting-despite-identifying/2014-06-15T11:21:22+00:002014-06-15T11:21:22+00:00Enterprise customers want product information deck over initial demo meeting despite identifying with the problem. [challenges] When trying to sell an enterprise solution to enterprise customers (problem exist primarily for bigger companies), they prefer to be emailed a product information deck then only (possibly) set up a meeting to see our solution despite identifying with the problem and indicating interest.<br><br>We ideally want a meeting to understand more about their problem and have a better chance by showing our solution and selling in person. To add salt to the wound, they are slow in responding.<br><br><ol><li>Is there an effective way to get them for an initial meeting? (after sending the decks, many tend to not even read it)</li><li>Any ideas on how else we can get these elephants to move faster?</li></ol><br/><br/> Benson Chang ha contestado:<br/>Hi Joshua,<br><br>I am Benson from TABLEAPP.com, we provides reservation management system for upscale restaurant.<br>I also faced this issue before.<br>My suggestion is don't wait for their reply, normally they won't.<br>You can try talk to somebody inside the company and ask what is their current solution to solve the problem and get the decision maker contact. (You may or may not get the answer, however you will get some feedback)<br>It is hard to build trust when a startup is small, but once you get some well known brand using your product, it is more easy to sell to the same level enterprise.<br>Cheers!<br>Joshua Tenghttps://magic.userecho.com/users/1-joshua-teng/topics/tag:magic.userecho.com,2014-06-15:/communities/1/topics/21-promotion-of-malaysian-technology-companies-is-poor-to-international-markets/2014-06-15T11:00:29+00:002014-06-15T11:00:29+00:00Promotion of Malaysian technology companies is poor (to international markets) [challenges] Malaysian companies often get lost in sea of competitors and do not stand out<br/><br/> Wong Wei Loon ha contestado:<br/>Alas, one thousand small victories doesn't add up to one decisive defeats. Where is the turning point? Where is the critical mass and junction? Can't see any. <br><br>Plus, not every startup doesn't build a solution to solve a problem. This is a misleading thinking. A startup have a vision and reality, the difference between reality and vision is a problem. There is no ONE definitive answer for the problem. We have to test it out every round to see how it goes. <br><br>What really headache is SMEs style thinking. Startup might be SMEs, but not all SMEs are startups. Starting with an unknown unknown must not be confused with a known unknown. <br>TeAMhttps://magic.userecho.com/users/30-team/topics/tag:magic.userecho.com,2014-06-15:/communities/1/topics/38-how-can-we-attract-good-quality-students-and-graduates-to-join-startups-as-employees/2014-06-15T10:54:02+00:002014-06-15T10:54:02+00:00How can we attract good quality students and graduates to join startups as employees? [preguntas] Talent is crucial in every industry and having the right talent driving a startup will give the industry a real boost. If startups are able to create a well structured environment and an attractive one for top talents, this would help push us to the next level. The startups themselves will be better, the industry overall will have stronger partnerships, mentorship and funding can come more easily as well. <br/><br/> Wong Wei Loon ha contestado:<br/>There are two ways. You need to find a good team mate, he will get you another Ace player. Or you can try post everywhere. But, the most effective one is through referral.<br>Francesca Chiahttps://magic.userecho.com/users/38-francesca-chia/topics/tag:magic.userecho.com,2014-06-15:/communities/1/topics/52-funding-approval-disbursement/2014-06-15T06:33:01+00:002014-06-15T06:33:01+00:00Funding Approval & Disbursement [challenges] Numerous funding available in town but problem always that the gap between the good and bad one are huge<br>A bad funding program timeline<br>- Review of Proposal - 3- 6 months<br>- Pitch to technical committee<br>- Approval from technical committee 1-3 months<br>- wait for pitch to approval committee 1 - 3 months<br>- Pitch to approval committee<br>- Approval from approval committee 1 - 3 months<br>- Wait for official letter - 1 - 3 months<br>- Additional document needed for disbursement - to prepare document - 1 - 3 months<br>- Checking of document - 1 - 3 month<br>- Officer go on pregnancy leave - 4 bulan <br>- Letter for disbursement ready - 3 months<br>- Send drawdown letter - 1 month<br>- Money in the bank - 1 month<br><br>If its a bad program you'll wait over 30 months or more before you get your money upon submission of proposal.<br><br>A good one 14 months wait.<br><br>Several paper has been written by Doc Siva of Team of how this could be improved;<br/><br/> Wong Wei Loon ha contestado:<br/>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.<br><br>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.<br><br>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 <span>"within 2 hour flying time range for easier reach"(quoting the apologist). </span>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?<br><br>And stop talking about MVP anymore! I heard these words for so many times. This is a counter argument: <a href="https://medium.com/@francispedraza/lean-startups-fail-for-these-3-reasons-but-they-didnt-tell-you-in-the-book-or-at-some-conference-16f6de3b7512">https://medium.com/@francispedraza/lean-startups-f...</a><br><br>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.<br>Reza Razalihttps://magic.userecho.com/users/14-reza-razali/topics/tag:magic.userecho.com,2014-06-14:/communities/1/topics/1-incubators-only-focus-on-providing-infrastructure-lack-of-support-for-management-expertise/2014-06-14T16:53:42+00:002014-06-14T16:53:42+00:00Incubators only focus on providing infrastructure, lack of support for management expertise. [challenges] <br/><br/>sugerido por: TeAMTeAMhttps://magic.userecho.com/users/30-team/topics/tag:magic.userecho.com,2014-06-14:/communities/1/topics/51-lack-of-clarity-fragmented-information-on-grants-available/2014-06-14T16:53:08+00:002014-06-14T16:53:08+00:00Lack of clarity/ fragmented information on grants available. [challenges] <br/><br/>sugerido por: TeAMTeAMhttps://magic.userecho.com/users/30-team/topics/tag:magic.userecho.com,2014-06-14:/communities/1/topics/32-lack-of-angel-investing-no-established-avenue-to-showcase-startups-to-angel-investors/2014-06-14T16:50:30+00:002014-06-14T16:50:30+00:00Lack of angel investing; No established avenue to showcase startups to Angel Investors [roadblocks] <br/><br/>sugerido por: TeAMTeAMhttps://magic.userecho.com/users/30-team/topics/tag:magic.userecho.com,2014-06-14:/communities/1/topics/36-foreign-students-cant-stay-back-to-work/2014-06-14T07:02:34+00:002014-06-14T07:02:34+00:00Foreign students can't stay back to work [roadblocks] After studying in Malaysia for 3-5 years, most foreign students are not able to stay back to work and contribute to the startup scene. We are losing good resources<br/><br/> Wong Wei Loon ha contestado:<br/>Once called the Talent Corp. Nothing useful for that name. Said only want Malaysian people working in foreign place, not foreign talent working in Malaysia or the world. Might thought of asking them to change their name to "Malaysian Foreign Remittance" kind of stuff so that not to misunderstood. IKargo Mgmthttps://magic.userecho.com/users/22-ikargo-mgmt/topics/tag:magic.userecho.com,2014-06-14:/communities/1/topics/46-the-cost-to-register-a-company-in-my-is-a-lot-higher-and-more-tedious-than-in-sg/2014-06-14T06:52:15+00:002014-06-14T06:52:15+00:00The cost to register a company in MY is a lot higher and more tedious than in SG [challenges] The requirement to have a cosec increases initial and on-going costs. Plus all the paperwork is too troublesome for a startup in the early / validation stages. In SG, you can do it quickly online and at more than half the cost. No wonder we're bleeding startups across the border. <br/><br/> Wong Wei Loon ha contestado:<br/>Try to get advice from an experience veteran. Knowledge dictates we can register company, but experience dictates what we can do with it. Once the company registered, we will need to keep a set of documents, formalise the payment and stuff. This need to be taken care of. Try to comprehend the cost of time and focus before thinking it in term of monetary. <br>Newbie101https://magic.userecho.com/users/23-newbie101/topics/tag:magic.userecho.com,2014-06-14:/communities/1/topics/14-lack-of-exit-options/2014-06-14T04:59:56+00:002014-06-14T04:59:56+00:00Lack of exit options [challenges] strange. no one asked this question. <br/><br/>sugerido por: AnomallyAnomallyhttps://magic.userecho.com/users/26-anomally/topics/tag:magic.userecho.com,2014-06-14:/communities/1/topics/2-difficulties-in-getting-paid-singaporeans-allowed-to-sell-almost-anywhere-malaysians-cant/2014-06-14T04:51:19+00:002014-06-14T04:51:19+00:00Difficulties in getting paid. Singaporeans allowed to sell almost anywhere, Malaysians can't. [roadblocks] Paypal practically the only option. Google Wallet just opened recently and mainly targetting mobile apps. Amazon and many other payment options not available. Inability to setup US bank account to cater to Enterprise customers who purchase through normal payment options. Malaysians can't sell on Newegg, etc.<br/><br/> CK Ng ha contestado:<br/>See <a href="http://www.webshaper.com.my/compare-payment-gateways.php">http://www.webshaper.com.my/compare-payment-gatewa...</a> for a nice listing.<br><br>Recently just researched the available options. To add, WorldPay stop supporting Malaysia merchants. iPay88 and MOLPay, passed down supposedly fine to their users, RM900. To use them that's > RM1800 just to start, and a considerable high yearly fee for a lot of ecommerce. I believe they also charge rather high fine for chargeback. They don't support other currencies, not really an option if you are targeting global market. Most only have PayPal to work with. This has not changed much after so many years.<br>Thomas Yiphttps://magic.userecho.com/users/10-thomas-yip/topics/tag:magic.userecho.com,2014-06-14:/communities/1/topics/29-msc-status-companies-should-not-only-operate-in-very-selective-properties/2014-06-14T04:37:45+00:002014-06-14T04:37:45+00:00MSC status companies should not ONLY operate in "very selective" properties [roadblocks] <br/><br/> Anomally ha contestado:<br/>Haven't you heard that MSC status is a real estate scam ?Imran Sulaimanhttps://magic.userecho.com/users/131-imran-sulaiman/topics/