Hi everyone. This is [inaudible] from KAIST, and this is second session of the fifth week for the Stanford Design Thinking and ASEAN Startup. In the last session, I just briefly introduced about the ecosystem, startup ecosystem of the Singapore and the ASEAN area, why it's a good opportunity we can start our startup in the ASEAN area. In this session, let me focus on the more to the Singapore case. So Singapore is known as a global business with a lot of big reputation in the global business opportunity from a lot of various different kind of media. For example, the world's easiest place to do business. In the Wall Street Journal, "Singapore aims to become Southeast Asia's Silicon Valley" like that. So as you see, many over the world, many journals, and many medias, they focus on the Singapore become the Asian Silicon Valley. So those are the Singapore startup the government agencies, A*STAR, and ACE, and ACRA, and EDV Singapore and enterprise in IDA. Those are some characteristics and area, knowledge domain for helping the startup. For example, for A*STAR, they are more focused on spin-off company from the resource-based, spin-off company from the research institution where the university, they are more focused on those kinds of technology like transfer, like from the IP intellectual property licensing, or how to make this intellectual property licensing become some product and make a business and expand to the global market. For the EDB is more like a government agency responsible for the tiding, like matching funds between the local versus company with some research institution, together with some government matching fund. An enterprise one is a one-stop site for enterprise looking to the startup and then grow to the outside of the Singapore. IDA is cultivate more the competitiveness in the info-comm industry in Singapore, so information and communication industry in Singapore. There is more agencies and foundation ministry in Singapore to help these startup activities. About MDA, were the MOM and NRF, and Spring Singapore. Especially Spring Singapore is more like they focus on the incubating startup internally in the local startups. They support a lot of the seed-funding or intermediate funding or the bigger funding, those in every stage, the Spring Singapore engage to help the startup to become the more healthier formation of the startup. With the help of these government agencies and foundations and ministries of the Singapore, and there is many companies can exit or can sell their company to the bigger company. So this is Singapore's global company exit record shows that a lot of companies acquired by many like global, the company like such as Rukten or some SPH like that. From here you can see that there is a lot of opportunity. You can sell your company to the big company. Those are company trading market is quite actively going on in Singapore. You can compare with the silicon valley. So I strongly recommend that it's better to start your startup in Singapore, because there is a lot of market. You can sell your startup to the big companies. So let me introduce the major incubators in Singapore. I prepare three incubators and actually, there is more government-designated incubators. But those three are the major Singapore global incubators. First one is NTUitive in NTU. So NTU is a Nanyang Technological University and Nanyang Technological University has NTUitive company which is an incubator and is mostly focused on the research-based spin-off company from the research institute in Singapore or the research lab in the NTU or outside of NTU. So the NTUitive supports the startup and still company from university and from the initial prototyping to the commercial product. Also linked up with some potential partners, also some investor too. There is a lot of activity going on in this entity. I also have experienced to the proceed my spin-off startup in Singapore through this entity when I working in Nanyang Technological University. The second one is more likely from the government-based, like this incubator which is BASH. By the IIPL, and IIPL is the Infocomm Investment Private Limited and initiated by the IDA because the IDA is Infocomm Development Authority of Singapore, and this specially is located in the Block 79 in Singapore nearby the MRT area, there's one-north MRT area. This is Singapore's biggest integrated startup space with the capability of congregating the members and partners of the tech-building community across the entire value chain, from the accelerators, and investors, and incubators, and to the entrepreneurs. So that this BASH have a lot of activity, like you can see there is a lot of IR pitching and demo pitching in front of the lot of global venture capital. You also can get into this platform, and many like startup, graduate this platform and become some big companies. Some companies already IPO in the stock market. So that you can think about this BASH in the Singapore too. The last one is about the NUS enterprise. There are two big university in Singapore: one is Nanyang Technological University and USA's National University of Singapore. They also have very big center for nurturing the startup. So established in the 2001, NUS enterprise provide the enterprise dimensions to the NUS teaching and research, which involves the university students and staff and alumni in NUS enterprise. They are more focused on the NTUitive, they are more focused on the spin-off company from the university-based like some spin-off company. Those three's are the major, like the Singapore incubator and were accelerator, but there's a lot of other like some accelerator, government-designate accelerator from the private sector venture capital. You can think about those incubator and also access to the platform. Not only this platform, there is a lot of different like these days are different. The startup incubating schemes comes out such as SG equity, like Singapore, like government support, a lot of like program. So based on my experience, there is majorly three different type of the overseas. If you think about bringing our startup, not only from Korea but also to a global level. There are three different types. The easiest one is maybe the technology licensing. Then second is maybe you can think about the sales and marketing agent model. You designate some sales and marketing agents in Singapore because the SME in Korea, small and medium company in Korea. We don't have much resource, we can do the business expansion in the Asian area. So we can designate sales and marketing agent model. The other one is if you find that from this process, if you can find a local partner, and you can make a joint venture, make a company there, and can do the business together with the collaboration of R&D collaboration and overseas branch office and subsidiarity service. So those are the basically three different kind of model for expanding our business to the Asian market. During this process, there's a lot of challenges because we need to understand local market like some demand and also like technology, what's the technical level of the local market, and also, what is the local network and from the local government and local institutions. Those are the very important. Also, how to bring over the product to the local. Local means like the Asian area, like a customer channel, and how to meet the customer and how to like pivoting our product or the upgrading or updating our product to the different level which is suitable for the local market. So those are the major challenges when you think about the global business, getting into the global market. Actually, if we run the startup, it's very difficult to think about it. Actually, we need some platform or some service for the market entry service, which is maybe critical for expanding our business to the global market. In the next session, I'm going to introduce our case study about what kind of platform can be used. We can get help from the Singapore market, which is about the KILSA platform so that we really can think about how to bring our business to the global market. Thank you for your attention and see you in next session.
