I had to go through NUS Enterprise, who manages SPRING funding
schemes for on-campus start-ups. They had a strong preference for
tech-based start-ups; not start-ups that make use of the latest
technologies, but start-ups which sole purpose of existence is to
commercialise some novel technology that has IP value.
That being said, my shortcomings are:
1) Market is too niche/small to allow any
meaningful growth.
2) Barriers-to-entry are too low due to lack of
proprietary IP element.
3) Financial projections are not impressive
enough to justify funding my enterprise.
NUS Enterprise receives on average 1 business plan a day, and
they reject more than 90% of all incoming proposals. I personally
have approached them twice and failed to proceed further.
What is your business about, generally?
you're in the wrong school lah ....
I know someone from SMU who got 0.75 million in funding ......
or maybe ... much more likely .... your idea just sucks ....
