Our Young best US Students, but fizzle out as Adults

snow leopard SG

of late we keep asking ourselves, how come we're not producing enough entrepreneurs? how come we've not seized business opportunities like skype? these are supply questions which doesn't address demand side considerations that are equally if not more important. demand drives supply more often than not. when we're not supplying the right kind of stuff, perhaps we don't have the right sort of demand?

what i mean is this. the american market is so huge, any bizarre new idea has a good chance of finding enough critical mass of enthusiasts for it to take off. that is why ideas come into fruition more often than not there as compared to here. here the demand is not only limited but also not as sophisticated. that's why very often, our own entrepreneurs (suppliers of new ideas, new products) only succeed when they took their products into the US. Mr Sim's idea may have been conceived here but it only took off when it was brought to the states. Same for the stix toy.

hence, it may not be that we're not good enough but simply that our stage is too small so that making it big means having to go straight into the world stage and missing that nurturing stage in our own backyard.

ndmmxiaomayi SG

I agree with you. It's like in China. Only top scholars who studied in China universities will be at the top post. Overseas Chinese top graduates are second class.

JC graduates : top Chinese students from Chinese universities

Poly graduates : top Chinese students from overseas universities

ndmmxiaomayi SG

Whether our stage is too small, I can't decide.

The reason why our products have to go straight to overseas is because Singaporeans don't see a need. How many Singaporeans last time would want a good sound system? There's no demand here, that's why Mr Sim went overseas.

Another reason is because Singaporeans are brought up to be non risktakers. As you said, there is a good chance that entrepreneurs here will find critical mass support overseas or enthusiasts rather than here. If they want their business to succeed, where would they go? Logically, it would be to go overseas.

I remember my enterprise teacher said that for a product to sell, you have to create a need, whether or not the product is needed. Take for example Pilot pens. They are either ball point pens or ink pens. But why is that they keep coming up with different designs around the same thing yet managed to sell well? They could create a need. If you saw their advertisements, you would know what I mean. What Singaporeans entrepreneurs lack is they don't know how to create a need, so they go overseas where the need is already provided for them.

Atobe SG

Originally posted by ndmmxiaomayi:
Whether our stage is too small, I can't decide.

The reason why our products have to go straight to overseas is because Singaporeans don't see a need. How many Singaporeans last time would want a good sound system? There's no demand here, that's why Mr Sim went overseas.

Another reason is because Singaporeans are brought up to be non risktakers. As you said, there is a good chance that entrepreneurs here will find critical mass support overseas or enthusiasts rather than here. If they want their business to succeed, where would they go? Logically, it would be to go overseas.

I remember my enterprise teacher said that for a product to sell, you have to create a need, whether or not the product is needed. Take for example Pilot pens. They are either ball point pens or ink pens. But why is that they keep coming up with different designs around the same thing yet managed to sell well? They could create a need. If you saw their advertisements, you would know what I mean. What Singaporeans entrepreneurs lack is they don't know how to create a need, so they go overseas where the need is already provided for them.

The reason for Mr Sim bringing CREATIVE out of Singapore was that he could not get any Singapore Banker to provide him a loan to make his dream into a reality.

There were no Singaporean Bankers trained to be RISK TAKERS - much like a VENTURE CAPITALIST - they were more into the role of Shylock.

Mr Sim found a gold mine of Venture Capitalists in the USA, and managed to get listed into the NASDAQ, which became a role model that our Singapore Stock Exchange copied in forming our own SESDAQ.

Even with the creation of our own SESDAQ, and with more Venture Capitalists being licensed and encouraged to take up residency, many Singaporean entrepreneurs and inventors still continue to face an uphill tasks in getting any venture capital to get their dreams turned into reality.

Those Singapore Banks that are privately owned, are averse to step into the Venture Capitalist Role.

The Government owned bank will want the new venture to take on a GLC, or some approved Private Investor, to be a larger stake-holder partner, so as to spread the risk of the venture capital loan to this new enterprise.

snow leopard SG

i agwee with most of what you say. the only thing i wish to add is that perhaps pilot pens could be so well marketable here is because it already is in japan? that is to say, the japanese love for all things nice, who demands the best pens there are in the world, is the need that drives the creation of the top notched pilot pens so when they come here, because there are no other pens with the same quality, they sweep our market off its feet ...

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