CS5263: IT

1
CS5263 IT Entrepreneurship Semester II
2002-2003 6 Mar 2003 Week 8
Week 8

• School of Computing
• National University of Singapore
• Lecturer Associate Professor Francis Yeoh
  (francis_at_gdis.com.sg)
  
• Co-ordinator/Tutor Mr Koh Chung Haur
  (kohch_at_comp.nus.edu.sg)
  

2
Invited Guests

• Richard Lai 20 Feb
• CEO, dollarDEX
• Dr Tan Eng Siong 6 Mar
• Founder, Thirdvoice Inc
• Dr Foong Wai Keong 13 Mar
• CEO, Ecquaria Pte Ltd
• Ng Kai Wa 20 Mar
• Co-founder Creative Technology
• Chairman CEO, Innomedia Pte Ltd

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Agenda for Invited Guest Sessions

• Previous Group presents post-mortem (15 min)
• Current Group presents background on guest (15
  min)
  
• Group moderates QA with Invited Guest (1 hour)

4
Writing to the Press

• Contribution to a larger audience
• Exercising of entrepreneurial qualities
• Seize the opportunity for gain
• Act quickly
• Understand the environment
• Carry out critical analysis
• Communicate clearly
• (press is a proxy for the market/investors)

5
Critique of Forum Letters

• What is good?
• What is not so good?
• Can it be improved?
• How original is the contribution?
• Why do you think it was chosen for publication?

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Straits Times Forum Page 3 Mar 2003

• Start with how people view rules
• I REFER to the article, 'Minister aims for
  culture of risk taking' (ST, March 1). I am glad
  to see that Mr Raymond Lim has been chosen for
  the challenging post of the Minister of State in
  charge of Entrepreneurship, and that he has a
  strong mandate from the Government.
• In his book, Chaotic Thoughts From The Old
  Millennium, Creative Technology chairman and
  chief executive officer Sim Wong Hoo pointed out
  how the people of Singapore needed rules before
  they felt they had the right to do something. He
  also observed that this attitude existed in
  Singapore culture at all levels of thinking and
  in every segment of people's lives.
• However, he noted that in the United States, the
  opposite was true - if there are no rules, you
  can do something.
  
• Innovation cannot thrive when you need to check
  constantly with the authorities whether there are
  rules about doing a certain thing. And
  entrepreneurship is all about innovations.
• I believe that it will take a few generations
  before we can remove this attitude completely.
  
• But I hope that Mr Lim will look into what Mr
  Sim has observed, as this mindset stifles
  innovative thinking and the appetite for risk in
  Singaporeans.
• With this hurdle removed, the long-term goal of
  creating a risk-taking culture can be achieved.
  
• RAYMOND HENG KOK WEI

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Critique 1

• Latches onto something current appointment of
  Minister for Entrepreneurship
  
• Makes reference to well known entrepreneurs
  observations about Singapore vs US
  
• Reinforces the key point innovation cannot
  thrive if one has to keep checking the rule book
  
• Reiterates the importance of changing mindset
• Originality? No, but makes valid point which fits
  well into context
  
• Improvement? Make an original point, integrate
  or synthesise

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Straits Times Forum Page 4 Mar 2003

• Right policies important
• INTERVENTION by the Government to create the
  right climate for entre-preneurship will help.
  
• The Government can play the role of the investor
  (for example, in the Seeds programme) and
  facilitator. Financial and managerial support
  will help a company get under way and help it to
  be more successful.
• However, the challenge here is formulating the
  right policies and to make them work in
  practice.
  
• The concept of using entrepreneurship as an
  economic-development tool is an extremely
  attractive one, especially during this economic
  downturn when so many people are out of work.
• However, if the Government wants to avoid
  putting resources into programmes that do little
  to promote entrepreneurial activity, it needs to
  continually ask critical questions about what it
  is that it expects to accomplish through
  entrepreneurial development and how to go about
  it.
• Some questions that the Government should
  consider seriously
  
• How is promoting entrepreneurship different
  from 'traditional' economic development?
  
• Are there prerequisites for entrepreneurial
  policy to be effective?
  
• Does it have the right mix of people to
  perform the task of designing and delivering the
  right assistance to the right people at the right
  time to make a difference in entrepreneurial
  behaviour?
• MONICA LIM WAN LIN (MS)

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Critique 2

• Accepts proposition that government has a role to
  play in developing entrepreneurship (sets the
  stage)
  
• Expands on value of using entrepreneurship as an
  economic development tool in the current context
  of high unemployment (relates to something of
  current concern)
• Develops key point How do we know what we do is
  going to be effective?
  
• Proposes some questions to ask as a checklist
• Originality? Not specifically, but focuses on
  the aspect of effectiveness of policies, which
  may be neglected
  
• Improvement? Mention lessons learnt from
  elsewhere?
  

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Straits Times Forum Page 4 Mar 2003

• Ease the bonds that shackle scholars
• IT WAS encouraging to read in the article,
  'Science whiz set to stir up telecom revolution'
  (The Sunday Times, March 2), that a scholar was
  allowed to take no-pay leave to venture out of
  the Defence Ministry and try out his new idea.
• His bosses saw his vision and did not hold him
  back. Their reaction is a great contrast to
  previous situations where government scholars had
  their names published in the newspapers for
  breaking their bonds.
• His bosses exercised good judgment in
  considering the principles involved, rather than
  focusing on Dr Desmond Lim's legal commitment to
  complete his bond. It was clear that they
  followed the spirit of the law rather than the
  letter.
• What a difference a flexible mindset made in
  this case!
  
• In the past, the Government has been very
  successful in wooing the best and the brightest.
  These scholars might have had the chance to
  innovate if they had not been restricted by their
  bonds.
• In the light of recent events, no iron rice
  bowls for government jobs and a focus on
  Singapore being an entrepolis, people may be
  encouraged to try out new things, irrespective of
  success or failure.
• In view of this, I hope that scholarships
  offered in future might have less restrictive
  bonds. The likes of Dr Lim in the private sector
  will attract more business and investments to
  Singapore.
• This should more than offset the cost of a
  scholar's bond and allow better utilisation of
  our scarce resource, human talent.
  
• JOACHIM NATHAN

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Critique 3

• Latches onto something recently reported
• Contrast it with the controversial practice of
  publicly shaming bond breaking scholars
  (controversial topics always guarantee
  attention)
• Makes main point follow spirit of the law rather
  than the letter
  
• Explains why this is important with reference to
  the new challenges facing Singapore no iron rice
  bowl, value of entrepreneurial culture
  
• Originality? No, an old point actually already
  in report but good attention catching topic
  
• Improvement? Perhaps cite some examples of
  successes?

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Team Project Business Plan

• The class will be divided into 10 teams
• Team members will assume the roles of founders of
  a start-up company CEO, CTO, CFO, VP
  Engineering, VP Marketing etc.
  
• Each team will develop a business plan, a set of
  presentation foils and a 2 minute elevator pitch
  
• Each team will make a 12/15 presentation a 2
  min elevator pitch to the class
  
• The business plan presentation slides are to be
  submitted for grading

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Team Project Grading

• Team project will make up 40 of total course
  grade
  
• Grading will be based on
• Quality of the business plan (15)
• Quality of the presentation slides (10)
• Effectiveness of class presentation (10)
• Effectiveness of elevator pitch (5)
• Business Plan must not exceed 50 pages, excluding
  annexes
  
• Presentation slides to be limited to no more than
  12
  
• Class presentation and elevator pitch will be
  assessed by the class
  
• A single grade will be given to the team

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Team Project Dates

• Teams will draw lots on when they will present
• 5 teams will present on 27 Mar and the other 5
  teams on 3 Apr
  
• Presentation foils business plan to be
  submitted before presentation (hard copy to Koh
  Chung Haur)
  

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Business Plan Project Tips

• Work on something as real as you can probably
  easier to do a service than a product
  
• Check out Druckers 7 sources of innovation for
  ideas
  
• Propose hiring of credible people if necessary
  but must be realistic
  
• Pick out your own shortcomings before others pick
  them out for you
  
• Have specific strategies and plans rather than
  motherhood statements
  

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Business Plan for Magnus

• Real situation, ideal learning opportunity

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CS5263 Course Outline
Updated 30 Jan 2003
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Readings for Week 9

• A Venture Capitalists View of Engineers
• by Brian Kinard, IEEE Spectrum Dec 2001