Difference between revisions of "1415T2g1 South Korea/Reflection/day4"

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<div style="font-size: 20px">Day 4: The tour</div>
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===MangoPlate===
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===KBS==
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<div>From their presentation, I learnt that being an entrepreneur does certainly comes with big sacrifices which one has to make and not everyone are able to give up what they have for an uncertain future. However, this is what differentiates an entrepreneurs from other working employees is their passion to see their idea go through. The founder also shared that he strongly believe that as long as there is passion, money will follow. I strongly agree with his settlements as passion is what fuels improvement and such improvements in turns allows productivity and efficiency to be obtained which is the competitive edge of start-ups.
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<div>My learning experience from KBS was that although a film may be seen as relatively easy on TV, there are alot of complicated operations running in the background which have to be in sync in order to make the film successful. This is somewhat similar to running a startup. Although one may have an idea, delegated employees who share the same passion are also needed in other fields such as legal and administration in order to ensure the success of the startup. Hence, I believe that having a startup is similar to the operations of a film as although employees may have different skill sets, the end objective they share has to be the same. This also means that should the startup reap profits, it is important for the founders or owners of the startup to recognize the efforts of their employees accordingly, and not credit himself for he success.</div>
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===Visual Dart===
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During the Q and A session, I also better understood the marketing strategy of how a start-up should hit the market. For example, one should start with the market in SE Asia as a test bed before embarking on breaking into the US and Europe market. This is to ensure that the product has countless iterative improvements before they are officially launched worldwide. I also learnt the each there is no one size fit all marketing strategy. For instance, although the marketing strategy that Mango Plate uses may work in Korea, it may work in Singapore. This is due to the various cultural and taste of Singaporeans. For instance, most Singaporeans stay close to hawker centres and would not use Mango Plate application to find a good restaurant when they can get access to food easily. Hence, most Singaporeans will only use Mango Plate during special occasions which would mean that the number of user rate will not be as significant as Korea. Thus, a different marketing strategy will have to be used such as providing discount codes to entice Singaporeans to use Mango Plate.
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<div>I learnt that starting a startup is bound to face challenges. However, although the going may be tough, it is important not to give up to setbacks as these setbacks are stepping stones towards success. Hence, we should instead learn from our mistakes and implement proper measures to prevent them from reoccurring. I also learnt that maintaining good relationship between clients and employees is also important and it can be as simple as playing games together or just simply talking about life over beer. All these measures will serve to strengthen a startup relationship with its partners and employees and when the time is needed, These will be the people who a startup can turn to when help is needed. These activities can also be a source of inspiration triggering for project ideas and designs too.</div>
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</div>
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===Seoultech networking seminar===
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===Startup Alliance===
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<div>The learning experience from the seminar has taught me that as a potential entrepreneur considering to start a startup, it also also extremely important to analyse the market (e.g local market or international market) before entering it. It has also allowed me to better understand what are the schemes / funds which are available for foreign start-ups in Korea to leverage on, and the pre-requisites that each scheme has.</div>
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<div>From this presentation, I have learnt that it is extremely important for start-ups to be aware of such organizations like Startup Alliance which are able to help them through their early stages. It is also important for start-ups themselves to engage in extensive networking events to ensure that they have the right contacts should they require assistance too. However, I personally also believe that although there are such schemes for start-ups to leverage on, start-ups should still not be too dependent on such initiatives and should continue work to become stronger and less reliable on external help. This will serve to ensure that start-ups will not become too reliant on these available helps.
 
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</div>
 
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===D. camp===
 
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<div>This allowed me to learn how important it is to share experiences with fellow start-ups as they are vital information that allows start-ups to not only avoid mistakes which had been committed by their mentors but also learn and improve on their mentors solutions to mitigate the situation. Through the company tour, I also learnt about how important proper facilities are for the growth of the start-ups. For instance in the case of D.camp, it ensured that all start-ups located in it have accessed to monitors, test devices (iPad, IPhone, Tablets etc.), food, drinks, servers and others. This is important to ensure that the productivity of the start-up is not hindered but maximized instead.
 
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===Zikto===
 
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From this presentation, I learnt about the importance of protecting one's startup idea from being copied via the application of patents and also operating in "stealth" mode as shared by the presented. I also learnt that the the goals of start-ups is to improve the lives of people by solving problems which the current market does not have a solution to. This is because having a good idea which does not rectify any problem will lead to no where.  
 
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===VCNC Between===
 
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From the presentation by Edward, I learned that although VCNC had faced many stiff competition from other companies, one should not be too bothered by them as it will only be a waste of time. By simply doing what VCNC does best such as the improvement of code efficiency and others, it has allowed VCNC to stay ahead of the pack. Edward also shared that the mantra VCNC lived by was “If you want to bite, don’t nibble.” This is to say that as start-ups, one should be aggressive – after targeting on something, just do it once and do it good with no regrets.
 
−
 
 
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I also learnt from VCNC that although having the technical know-how is good, that is not sufficient enough to work in VCNC if employees do not share the same passion as VCNC. This shows how important it is to ensure that employees of a start-ups do not have a conflict of interest (i.e. should not have different passion). This is because a conflict of interest will hinder the progress of the start-up. I also learnt that as a start-up, it is important to have one’s goal fixed on going global so as to fully maximize the potential of the start-up. Furthermore, it is also important to know who the target market are as different consumers in different countries can have different taste and preference towards dating. It is also important to target the women consumer base in some situations. For example, in the case of between, as women tend to be more aware of such cute applications and would want to use them, they will often rope in guys too. Hence, the consumer base will indirectly increase too. Lastly, I also learnt about the importance of having an A-team (Best of the best people in the team) in a start-up. This is to allow each member weaknesses to be covered by another team member’s strengths so that they can complement each other. Not only will this lead to cost savings, it also allows each team member to know and appreciate each other more which improves productivity.
 
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===BeSucess===
 
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<div>during this short q and a session with the staff of besucess over dinner, I got to learn about the importance of how networking is important for startups and entrepreneurs. This is because when a start up first start, it has limited resources and contacts . Hence , having good networking with people / companies will be essential for a startups which requires resources / contacts to break in to SE Asia / Europe / USA market.</div>
 
 
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Revision as of 01:49, 1 May 2015


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             IS427: Technopreneurship Study Mission
                           South Korea    

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Reflection

Day 1

Day 2

Day 3

Day 4

Day 5

Day 6

Day 7


Day 4: Reflections

Alan

Alan.png
Day 4: The tour
Alan - ENTER REFLECTION HERE :)


Benjamin

Benjamin.png
Day 4: The tour
Today in Visual Darts, we learnt the entire process of creating the concept art to the full 3D model to be handed over to the client. We learnt about the various software used to create the animations, effects and 2D sprites using Maya,Unity3d and Spine Pro respectively. We also learnt that Visual Darts does not need to protect the patents as these are handled by their clients as they are a Game Art Consultancy firm. The guide also explained to us that they are given a list of requirements from the client and they interpret them by sketching prototypes to be shown to the client. If the customer approves, they would move on to concept art before heading on to produce the 3D model.Visual Darts enable us to get a glimpse on how a typical game design firm operates. We also learnt about the FDI procedure in Campus Seoul and how to start a business in Korea without a large amount of investment through the use of the OASIS VISA and what are the ways to earn the OASIS points to get it.



Gabriel

Gabriel.png
Day 4: The tour

=KBS

My learning experience from KBS was that although a film may be seen as relatively easy on TV, there are alot of complicated operations running in the background which have to be in sync in order to make the film successful. This is somewhat similar to running a startup. Although one may have an idea, delegated employees who share the same passion are also needed in other fields such as legal and administration in order to ensure the success of the startup. Hence, I believe that having a startup is similar to the operations of a film as although employees may have different skill sets, the end objective they share has to be the same. This also means that should the startup reap profits, it is important for the founders or owners of the startup to recognize the efforts of their employees accordingly, and not credit himself for he success.

Visual Dart

I learnt that starting a startup is bound to face challenges. However, although the going may be tough, it is important not to give up to setbacks as these setbacks are stepping stones towards success. Hence, we should instead learn from our mistakes and implement proper measures to prevent them from reoccurring. I also learnt that maintaining good relationship between clients and employees is also important and it can be as simple as playing games together or just simply talking about life over beer. All these measures will serve to strengthen a startup relationship with its partners and employees and when the time is needed, These will be the people who a startup can turn to when help is needed. These activities can also be a source of inspiration triggering for project ideas and designs too.

Seoultech networking seminar

The learning experience from the seminar has taught me that as a potential entrepreneur considering to start a startup, it also also extremely important to analyse the market (e.g local market or international market) before entering it. It has also allowed me to better understand what are the schemes / funds which are available for foreign start-ups in Korea to leverage on, and the pre-requisites that each scheme has.

Bifang

Bi fang.png
Day 4: The tour
Bi fang - ENTER REFLECTION HERE :)

Bifang

Bi fang.png
Day 4: The tour
Bi fang - ENTER REFLECTION HERE :)

Hosanna

Hosanna .png
Day 4: KBS, Visual Dart, & Seoul Tech Networking
We have a lot of great time visiting KBS, where we got to see the largest broadcasting systems in South Korea. There are various advanced technologies such as touch screens, live dubbing, and more.

From Visual Dart, we can see how they differentiate themselves in the gaming industry. Instead of focusing of game development, they choose to focus on the designing process and excel on it. They are willing to go an extra mile for something they like and be really good on it. I can see their passion as can be seen from how they are willing to work extra time for hours. They also have excellent teams, where people are located to a department which suits their skills and personalities. I am personally very impressed with the way they organize themselves and do many projects at the same time.
During Seoul Tech Networking, we have the time to talk to like-minded entrepreneurs from different parts of the world. Although I didn’t manage to talk to all of them, but I manage to talk to some of them who have started their own company. We also manage to learn from the presentations and one of our teams even has the chance to present about Singapore entrepreneurship ecosystems. I can see that Singapore is more open to foreigners starting a company in the country. Although South Korea government seems to have more programs than Singapore does, Singapore government is also growing and paying more attention to entrepreneurship growth within the country. Considering the size of Singapore, the government has done a great job developing the ecosystems and I believe that more entrepreneurs will appear in Singapore.


Jack

JackTSM.png
Day 4: The tour
  • During our trip to KBS, I was really amazed of blue screen technology to mimic realistic backgrounds. In addition to viewing their impressive broadcasting equipment, I also had the pleasure of viewing their internal concert theater which was the biggest one I have even seen.
  • We learnt that in Visual Dart, its biggest competitors are from developing countries such as China and India. In addition to what I have learnt from school and from my experience overseas, I have discovered that this represents an increasing trend of developed countries rapidly losing their edge to those in the developing countries.
  • During our networking session at Seoul Tech conference, I have learnt that both Korea and Singapore have robust existing schemes to entice foreign entrepreneurs and startups to their countries, even though Singapore is more welcoming to foreigners in general. On the other hand, Korea has numerous private accelerators that are able to link startups up with international VCs and angel investors better than Singapore as the accelerator companies’ founders usually have experience and connections in the US and many other countries.

Kenneth

KennethTSM.png
Day 4: The tour
Today, we visited KBS, VisualDarts and Seoul Tech. I found the last company visit extremely interesting. When our team presented about the Singapore start-up environment, it enlighten me as to the options that are available to us. I know that there are certain places that I can already approach, but the presentation gave me names and companies, concrete places that I can research on. When I was networking with the other people at the meeting, I found that many entrepreneurs are extremely interested in the Singapore scene after that. In the meeting, there were many expats in attendance and many of them have the freedom to go to alternative countries to start-up. Since in both Korea and Singapore they will be treated similarly, it became a case of which country is more suitable for them to start-up their business. However, as a Singaporean myself, starting in Singapore would be the most suitable location, at least for the initial stages until we have grown enough. Perhaps during the growth stage, then it might be more feasible to "flip" the company and move the headquarters to our main market, since it is unlikely that Singapore, with our 5 million population, will be able to sustain the growth of our company.


Leon

LeonTSM.png
Day 4: The tour
Leon - ENTER REFLECTION HERE :)


May

MayTSM.png
Day 4: The tour
May - ENTER REFLECTION HERE :)


ShaoJun

Shao Jun.png
Day 4: The tour
Shao Jun - ENTER REFLECTION HERE :)

Sharon

SharonTSM.png
Day 4: The tour
Sharon - ENTER REFLECTION HERE :)


ShiMin

Shi Min.png
Day 4: KBS, Visual Dart, Seoul tech networking night

KBS

We visited KBS and got a tour around the building. KBS is South Korea's largest broadcasting station and it was interesting to see the filming stages, halls, broadcasting room, and props store.

Visual Dart

Visual Dart is a game art designing firm with about 60 employees. They modularize the design into various forms such as sketching, initial drawing, 3d creation, animation, background design and more. A single design takes about 10 days to a month to create depending on the design complexity. Visual Dart started off small and they initially did work for home shopping networks. They then moved on to small scaled designs and the company was promoted through competitions and exhibitions. From our interaction with the first employee in the company, I've learnt that

  • communication with the client is important to ensure that both parties have an agreement on how the design concept should be developed
  • fostering good relations out of work helps to build better relations with co-workers
  • get constant exposure locally and internationally and stay up to date on the latest technology advancement and change in trends
  • idea generation can be inspired from various ways e.g. by watching movies, playing games, and observing the environment

Seoul tech networking night

At the sharing session and networking event, we heard about the South Korea and Singapore start-up system. In both countries, the government plays a big role in encouraging people to start their own businesses. The government takes various initiatives to nurture talent, support mentors, provide funding, and educate its people on entrepreneurship. I think it is good that the government takes the lead to develop the start-up ecosystem. I expect that in the future, reliance on the government will be reduced if start-ups can support each other. Also, there will be more private services that cater to support the community.

Tomorrow is our last day and we will be visiting Seoul Topis, Auctionary, and Korbit!



Sithu

Sithu.png
Day 4: The tour
Sithu - ENTER REFLECTION HERE :)


Siying

Siying.png
Day 4: The tour
Siying - ENTER REFLECTION HERE :)

Thandar

Thandar .png
Day 4: The tour
Thandar - ENTER REFLECTION HERE :)


ThuHa

Thu Ha.png
Day 4: The tour
Thu Ha - ENTER REFLECTION HERE :)


Valerie

Valerie .png
Day 4: The tour
ENTER REFLECTION HERE :)


WeiYang

Wei Yang.png
Day 4: The tour
Wei Yang - ENTER REFLECTION HERE :)

Zihua

Zi-hua.png
Day 4: The tour
Zi-hua - ENTER REFLECTION HERE :)


ZuCheng

Zu Cheng.png
Day 4: The tour
Zu Cheng - ENTER REFLECTION HERE :)



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