Entrepreneurship and Innovation

By Kwek Ping YONG, Inventis

1. Motivations for start-up

   • Better opportunity
   • Chance to learn new skills
   • Control your own life
   • Be your own boss
   • Much more income
   • Personal achievement
   • Look for excitement
   • No other options

2. Myths

• You are your own boss
• The earlier you start, the better - best when you are fresh out of school
• I need a lot of money to start a business
• Entrepreneurship is "Glamorous" "Fashion"
• Entrepreneurship is a very high risk business
  Case study: Warby Parker[] vs. Luxxitica's Monopoly

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Fund manager: charge 2% management fee
4.5B USD

Hedge fund/Mutual fund/Private raised fund

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By David(Vice President of SingCham)

1. Understand business market
   Niche and value add
   Product/Management/Shareholders

2. Business mindset
   How to nurture Business Mindset

• Mao Story(be open minded, humble, hungry)
• President Suharto's Story(Net value)
• INT-Q International Quotient Go beyond Singapore domain(social education)
• KQ - Knowledge Quotient (Self taught Mechanism, Reading, Experience, Communication)
• Must Understand Finance

3. Macro Perspective of Company

• P/L(income statement) = Health
• Balance Sheet = Built/Size
• Cash Flow = Blood

Homework: why startup fails?
http://oddle.me