Survey on Entrepreneurial and Research Activities of Members
About this Survey
Between Apr and Jun 2016, SingaporeConnect conducted a survey of its members via email and Facebook to get insights from founders of startup and researchers doing interesting things. Here is a summary of the 34 responses, including some rich and meaningful insights. Prepared by Mark Sin. [ Download as a PDF. ]
Love With Food is a direct-to-consumer channel that provides CPG companies product intelligence data by using a smarter sampling process to capture consumer behavioral and sensory data in the offline world.
Pinterest search for offline products with a Get-it-now button. We're starting with food. www.goairship.com
What was the biggest blocker for your startup?
Initially was being a solo founder but after 4 years, it's been growth, always looking to double to triple growth every year.
We've gotten to some sort of product market fit, on revenue and profitable, we're growing fast. But need to learn to network and raise capital to scale.
What is your biggest success with your startup?
Growing the company to a multi-million dollar in less than 4 years.
We were working on a mobile payment app that lets people pay using their phone without requiring any credit card. Users pay at the end of the month. We make money from late fees. We're handling over half a million dollars of credit entirely automated using machine learning.
What would you advise to those thinking of starting a startup?
It's much harder than you think and it takes a lot of sacrifices.
Learn how to build things people want.
What is your role?
Why did you decide to join this startup?
I'm the founder
Introduced to it by good friend
New stuff, exciting roles
I wanted to get a stronger view of startups ecosystem and funding environment.
What is most satisfying about working at a startup?
Working on the 2 things I'm most passionate about - technology and food
all things are possible; no holds bar
My work revolves learning about startups, venture capital and markets.
What advice would you give to those thinking of working at a startup?
Only work in a startup if only you want to build a company from scratch and you can deal with bad news 24/7.
go for it!
have a rainy day fund
Just do it.
How long have you been thinking of starting a startup?
What would you like to accomplish with your startup?
Take it international
get it sold or IPO
Create a new technology surrounding VR for mass production and all to enjoy.
Achieve competency in data roles
Solve a meaningful problem
What is the biggest thing you need to solve before you go ahead?
Looking for the right international partners
We need the initial funding of about 1 million to come up with the prototype and testing to prove the effectiveness of the product and its initiative.