Web2.0 is about technology, not money
- Posted by Tengku Zahasman on May 23rd, 2007 filed in Thoughts, Entrepreneurship
- 1 Comment »
- (447 Views)
Reading Mike Arrigton’s recent post at TechCrunch really caught my attention and sparked some thoughts:
“When I look back at the pictures from those early events, I remember good times, and no one was talking about twenty million dollar venture rounds or selling out for a cool $1.65 billion. Companies like Meebo and Sphere literally launched in my living room in front of a couple of hundred genuinely interested people…
..snip..
It’s no longer about beautiful products and genius developers. It’s about the money and the status, and hot PR chicks and marketing departments.” - Mike Arrington
It’s true what he said. I’ve been hearing so much about new Internet startups seeking million bucks of venture rounds every month that I’m starting to get sick of it. Web 2.0 startups initially sparked off from tech enthusiasts and bright developers who believes in creating unique applications of their own that they love and hoped other people will love too. Money is not the first thing that comes into the picture. It’s the idea of making a difference that comes first - using Web technology as the backbone. Startups today seems to focus more on chasing the money, getting millions of capitals, and enhance their application with the intention of selling them off to some other giant companies like Yahoo, Google or eBay. This is what I don’t get. We don’t build applications to get capitals. We don’t build applications to sell them off. We build applications because we love it. If at a later time someone chips in offering a deal, then that’s something to be dealt later.
To me, real startup entrepreneurs are those who wishes to “marry” with their idea, developing the application till late at night with their small teams who also believes in what they are doing. Forget about capitals, they don’t mind starting off using their own money and credit cards, bootstrap all the way so that they could see their dream comes true. And they are the people who will cry if they had to sell their application to someone else. Isn’t it interesting to hear people create successful apps out of their garage or apartments? Meebo is an example. These are genuine entrepreneurs. “Profit” to them is the money that comes from the invention itself, not from those venturing rounds or hoping to be bought.
I suggest that you guys read that post in TechCrunch. Some of the comments are pretty interesting read as well.
If only Malaysia could have our own Silicon Valley…. 
Focus on simplicity for your Web2.0 ideas
- Posted by Tengku Zahasman on May 4th, 2007 filed in Web App Development, Web2.0
- 2 Comments »
- (605 Views)
Forget about creating another Netvibes or Meebo. Leave the complexity of such development to the bigger players unless you also have some very very experienced developers to back you up. For a start, focus on simple ideas. Ideas that a normal person like you and me are able to think inside out. Ideas that the end-users can easily “get it”. Ideas that can even make your mom nod when you try to explain to her about your project. Afterall, it has been proven many times that simple web applications can really make it big in the Web2.0 arena - and complex Web2.0 applications does not necessarily mean they’ll be a success. Think about Twitter. It started off with a very simple idea which stemmed up from one of the very basic questions in life: “What are you doing?” From that idea, they created a community around it. They created widgets out of it. And all of a sudden Twitter becomes a trend.
Or perhaps look at how just a simple online to-do list can have so many users praising it. Or an online project management app that is used by many big time project managers. How about Technorati (blog search engine)? Feedburner (feed manager)? MyBlogLog (visitor tracking)? All these applications proved that we don’t need to think too much about creating an application that does so many different things. A good application should focus on doing only one specific thing, and being especially good doing it. Most users love simplistic, focused applications. And that is what we should craft our ideas upon. There is a saying that goes: “Great things often start with a simple idea”. I believe in it.. 
How to get funded for Malaysian startup entrepreneurs
- Posted by Tengku Zahasman on April 29th, 2007 filed in Entrepreneurship, Financing/funding
- 5 Comments »
- (1,498 Views)
Internet startups in the Silicon Valley are used to getting funded by the many Venture Capitals and Angel Investors they have over there. That’s why Internet Startup companies in Silicon Valley blooms up like mushrooms after a rain. Unfortunately, we don’t have the same luxury here in Malaysia. You can’t easily find a VC to fund your startup… and most of our parents or friends are still pretty clueless/critical about Internet ventures to be your angel investor. But fret not, the Malaysian government does have allocation for the Malaysian Internet startups to get initial capital and start their businesses to boost the ICT industry in Malaysia. And there are also Malaysian companies that does businesses in Venture Capitals.
1. Technopreneur Pre-Seed Fund Programme
This fund is introduced by MDEC (Multimedia Development Corporation, Malaysia). In this programme, your startup business can get a conditional fund of up to RM150,000 that you can use to develop your IT business plan into commercial projects. The good news is that apart from the money, you will also get the benefit of their mentoring services and use their MSC status shared lab facilities.
Take note that ONLY INDIVIDUALS are eligible to apply. You can’t apply under a business name. In other words, you’re not eligible apply this fund if your business already has an established Sdn Bhd company name. You may read more information about this on their website.
- Download Guidelines and Application Form
- Download FAQ
2. Cradle Investment Programme
This programme offers RM50,000 of fund that you may use for the development of your project’s prototype, proof of concept or business plan. Same like the pre-seed programme above, this fund is also only for individuals, not companies. Their focus is to give entrepreneurs a headstart in realizing their unique ideas (sounds a lot like you?). You can make application online. Visit their website for more thorough and detailed explanation on this fund.
Before making an application to any of these funding options, be sure to have a strong business plan document to present them and to get their attention, besides avoiding yourself from looking foolish. Be confident of your project. Also be sure to do enough research about a certain funding programme so that you know what you’re dealing with. The question is… should you apply? Do you really need them? I’ll talk about that sometime later 
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