1617T2g1 South Korea/Reflection/Day1

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Reflections

Student Name	Google campus	People Fund	KBS
Ang Jui Ping	Singapore needs a dynamic and relaxed workplace, and more team bonding/co-share support, to make idea generation easier.	Look for gaps in existing industries and structure your product to effectively meet needs while continuing to differentiate yourself.	A lot of what you don’t see goes on behind the scenes.
Benedict Wee Yu Rui	I believe that Google Campus have boost interest in the startup ecosystem by attracting the public to be innovative and explore new ideas or dreams and a quote i learn is that “Never be afraid to ask. There might be people who are willing to lend a hand.” as there will be people to help you.	One interesting fact I learn of how they manage to convince a bank to work with them was that it help the partnered bank to come into Seoul market by giving them over 7,000 users by using their service and a quote i learn is ‘not give up and follow your passion’ as he is able to come back from bankruptcy to over 50 million loans transactions today	KBS is the longest standing (and government operated) media company and i feel it is an interesting experience to see what goes behind the scenes in the Korean news broadcasting industry.
Bryan Lian Junquan	To me, the services provided by Google Campus are very useful as they provides lots of financial or non-financial benefits which helps to reduce the barriers of building a start-up.	I like how the founder identified the market gap despite being in an industry that was heavily regulated and filled with legacy practices and this is why it is applicable as Singapore are like Korea where it seemed like most problems are solved.	Unlike the rest, the tour at KBS reminded me that running a business is not easy as it might seem to us, there are many components to running a business just like the different sets, crews and departments of KBS which all of them must work well in order to achieve success.
Chua Weilun	Three main considerations: 1) Adapt to the local culture, 2) Work with the existing ecosystem, and lastly 3) Equal Opportunity to all who matters.	“Ups and downs do not determine who you are, how much you enjoy the process to achieving success matters.”	The business processes are much more agile and flexible than i expected for a big broadcasting station, as they had to accommodate to the fast studio and projects turnover rate.
Dawn Tan Sze Hui	Gcampus seeks to provide support for budding startup ecosystems and realised that certain regions require incubation support. It was also heartwarming that Google does not expect much in return for providing the incubation spaces but only that the tech startup scene can prosper and continue innovating.	PeopleFund realised that the average Korean was in need of affordable loans. This allowed their business model to overcome tough regulations and to disrupt the lending sphere. 🙌 Key takeaway: where there is demand, there will be someone willing to provide supply.	The entertainment industry seems quite glamourous but after the tour, I realised there is actually a lot of behind the scenes work put into hour-long programs
Goh Gui Xiang Wendy	Supports all kinds of start-ups - popular industry now are mainly Entertainment, AI and big data such as politics.	(1) Have to juggle between demand of borrower and lender. (2) Borrowing money in Korea is a low-profile matter.	The recording studio for the radio station is transparent and everyone can view it from outside.
Goh Teo Wee Gavin	They targeted startups at early stages which is important as many would not know which direction to head at the beginning.	Following from above, they identified the needs of citizens at the beginning then working on solutions towards it, building a strong foundation from the beginning by having a specific target/goal to work towards.	To be able to enter such a place is a huge privilege as not everyone, not even the Koreans (I think), can get the chance to visit this place.
Jason Koh Xue Quan	Google needs startups to survive, thus their main purpose for an incubator is to cultivate this ecosystem. Learning point: Ecosystem is very important.	People fund manage to find a niche by exploiting the gap in the current system. Learning point: Analyze and find gaps in the current systems.	Alot of effort is needed to built an established firm like KBS. Learning point: Perseverance is key.
Jerome Lek Guan Hong	A startup ecosystem is important to Google for its continuous growth, and with their vast resources, Google is able to provide support for many aspiring startups in their infancy stage. To be selected by them, it is important to show good teamwork and proficiency.	To build a successful startup, it is vital to find the right niche in the market. As the CEO, Joey said, “I want to change the world”, which is a great mindsight for driving him towards his goals of the company. However, building a P2P platform requires delicate control to resolve the imbalance between the users and the providers. Peoplefund really found and understood the issue of the interest gap and worked towards solving an issue for its users. This deep understanding allowed them to develop a solution that was popular and successful.	As one of the biggest broadcasters in Korea, it was an eye-opening experience to see their beautiful stage as well as huge number of costumes and props, and know more details about how they film the shows they make.
Student Name	Google campus	People Fund	KBS
Jonathan Chua Yi Xian	The startup environment in Korea is supportive with established companies like Google offering free office spaces for startups to build themselves.	According to the CEO of Peoplefund: “Running a startup has both its big ups and big downs” and that persistence will pull you through the challenges and bring rewards.	I learnt that it is not easy to operate a national broadcast station and requires a multitude of stakeholders (e.g. actors, cameraman, makeup artists, logistics etc.) to execute a successful broadcast nationwide.
Kay Zong Wei	Great place for startups to make as their first “office” where they can gather and do their work. Also good to get VCs attention if they are in Google Campus.	My favourite companies of all, they are so smart that they found an “abyss” in existing money lending market, and manage to fill in the gap and succeed. Constantly reminds us to open our eyes at our surrounding, and we might find something we do not know yet.	Great tour of the KBS even if I don’t watch Kpop, it is very interesting to know how they make KPOP successful
Kelvin Poh Kian Lim	Interesting to know that in Seoul they allow startups to co-share the office for free. Such information is quite valuable to me as I’m thinking of venturing into the S.korea market and this might be a good opportunity.	Resistant is always the key factor to one determination to overcome problem and not be beaten down by difficulties faced. Another thing i understand here is the branding of the company is also a critical move, in peoplefund their business competitive advantage is the partnership with a bank, this move allows them to engage more customers which in turn brings in more revenue.	Interesting to see how large organizations managed their department ranging from clothes, tv and actors.
Kovan Chan Jie Hong	I’m amazed with the launch of Google Campus, as it caters to both local and foreign startups by providing them with free mentorship and guidance.	I’m truly inspired by PeopleFund, for their perseverance to hold on to their idea even when they were at the brink of bankruptcy. Im also impressed with their business strategy to provide loans to consumers at a cheaper rate using investor’s cash.	It was my first time visiting a broadcasting/studio room and get an idea of the work environment within the broadcasting company, and i’m thankful for this experience.
Lam Wan Ting	Google Campus is a really fun startup coworking space that is completely free and open to both domestic and international startups for residency; the area has lots of mentors and open spaces to encourage	PeopleFund is the first P2P fintech company to work with a bank and have an integrated platform that helps to connect investors to borrowers online.	KBS is one of the most established companies that we have visited - the visit allowed us to understand how much time and effort it takes for the backstage staffs to build the setup of a show, and not to mention that it was still pretty fragile.
Lee Kuan Yong	Being a non-profit organisation, Google Seoul Campus has set a bold vision in sustaining the ecosystem for start-ups.	PeopleFund has gone through challenges like nearly going bankrupt, and it takes strong positive thinking and some luck to succeed.	Developing shows is not easy as it involves various planning and crew preparations to deliver quality content for viewers.
Lee Teck Hui	As technology advances, there are increasing number of startups working on Big Data and AI (Artificial Intelligence) to help us make decisions.	Filling up gap in area that you have knowledge is where innovation take place: “Interest Cliff” between regional bank and credit card, 5-15% range is empty.	(Chinese Saying) On stage 10 mins, off stage 10 years of work: Took them 3 hrs to set up a show, and they have to tear it down for another show before setting up for the same show again.
Loo Qi Xuan Ryan Elyas	Realized that this was non-profit, and was not intending to go against Naver in South Korea.	Very solid business model and plan for the future, and likely something that will bring down bank interest rates for loans in the long run.	Doesn’t count, but it was fun looking into the studios.
Mak Kar Kit	This startup space probably has the best resources around since they have several other campus around the world. The mentorship available to these resident startups will be a huge advantage for them to get things right without wasting too much time making mistakes.	This startup has a really strong top management, the founders come from Bain and Company which is part of the top 3 consulting firms in the world. Makes you wonder what made them switch over.	This broadcasting station has some really cool venues such as the costume storage room and the huge theatre. It is a really interesting experience to be able to explore and have an idea of how a tv show is made.
Ng Jia Ning	Interesting that Google is forgoing short term profit for long term benefit of penetrating Korean market successfully	Took longer route of partnering with a bank to differentiate itself from competitors and	Fighting for differentiation amongst the myriad of broadcasting stations in South Korea
Student Name	Google campus	People Fund	KBS
Ng Zheng Hao	"A lot of startup community work together here... Google is more international and there's more global connection while Naver is very local". Park Ji Hyo, Marketing 2017.	“Other people need to have problems before starting a company. I accept that but for me, I just want to start a company. It’s a choice that you have to make. ” Joey Kim, CEO, 2017	Similarly to my idol K-POP group (DBSK), I tasked myself to to create the logo, plaque and other designs using Adobe Illustrator which I’ve not used before.
Pek Caimao Jeremy	Wonderful effort by Google to build a start-up community in south east Asia, the program seems like a accelerator to help startups get advice from people who been through the journey.	They found a legitimate gap in the loan business in Korea, creative method of solving the problem with a collaboration with a regional bank. The CEO is very nice and well prepared for any difficult questions thrown, this means probably means he put a lot of thought and experienced the same issues before hand.	Interesting tour around the different facility for each performance/show which is quite rare for me especially a foreign country's.
Ranon Sim Wen Yang	The presence of a diversified community of start-ups that receives mentorship and funding from a corporate giant will really aid Korea’s rather nascent start-up ecosystem to grow and thrive in the future.	I learnt how an entrepreneurship journey is akin to a rollercoaster ride where the lows are really low and the highs may be really high but the important thing is to expect the unexpected and not get demoralized.	Behind the thriving success of Korea’s radio, television and online series is a combination of meticulous coordination and unglamorous but important grind work e.g. backstage support, logistic management etc.
Royce Junior Tan San Ye	Google campus had a good concept and idea but it was a bit of a let down because the office space was smaller than expected, and we didn’t really get to know what companies were being incubated in it.	I think PeopleFund was the most exciting start-up of the trip - they had a great idea and excellent execution; the CEO presented the whole idea well and while I don’t see the exact same idea taking off in Singapore because of how agile our banks are, I’m sure this idea could kick off in other countries.	While I was really looking forward to visiting KBS, it was a bit of the downer because the tour was so short and we didn’t get to interact with any members of the staff.
Russell Yap Song Chen	Even with a good idea and a strong team, great mentors and support are the secret ingredients needed to achieve success.	Democratization of investments, sharing of wealth of money-ending with the customers is the next big thing.	Amazingly old looking but full of rich history. Can see the hardwork that goes behind making and filming a set.
Sally CHIN Si Ying	Google Campus Seoul’s office is established such that so that startups can help each other, and they’re at the stage where they aren’t competing with each other, and it is a very collaborative environment.	“A startup life is like a rollercoaster. Just when you think you’re going up, be very prepared because the next moment it can be going down, and when it goes down, it feels like forever, so don’t give up.”	It’s amazing how the staff can set up amazing looking sets in such a short time catered to every programme, and this probably contributed to their amazing looking sets
Sebastian Hadinata	“Sometimes you don't need to be always focused on getting profit. When you are big, you need to learn how to transfer your knowledge and help the newcomers"	Running a startup is like a rollercoaster ride. There will be ups and downs. You can be happy for today but tomorrow you need embrace new challenges again"	“Everything that you do, you must do it to the best of your ability!”. I feel that this quote is important regardless of the scale of the business you are doing. Whatever you do, there must always be a high level of motivation and dedication so that you are able to overcome new challenges.
Sim Mong Khim Jared	I wished we saw more at Google Campus like what startups were working there and to talk with a few founders.	PeopleFund was really lucky when they got the right partner bank and the right niche in Korea.	KBS did not really interest me because I don't watch Korean shows but the equipment they used was impressive.
Soh Han Cherng Stanley	Finding the market needs and striking it while the iron is hot is an effective way of entering a market.	The correct piece of puzzle can be the key determining factor to make a startup a success.	Technology plays an important to role in a broadcasting station to ensure efficient delivery of entertainments to their audiences.
Tan Jie Sheng	A great place to grow your startup with the Google Residence Programme as Google Campus provides mentors and facilities in the 6 month programme.	The life of an entrepreneur in a startup is like a rollercoaster ride.	It takes a lot of efforts (3 hours to set up and you have to disassemble after it is done) to prepare the stage for recordings.
Tan Lay Ting	It is essential for competitors like GSC and Naver to collaborate to help startups and build a thriving startup ecosystem.	Tips to be successful: Be humble when doing well and not be demoralised when met with obstacles.	Passion and dedication is what keeps entrepreneurs pushing forward with perseverance every day.
Tan Si Ying	Campus Seoul’s concept of a open community would help to spur the startup community scene in Korea, bringing about great value for Google themselves. Google relies on the startup ecosystem to help their business grow.	The important elements that have contributed to their success include doing (immerse) background research on the industry, learning from best practices and industry failures, and also impactful business strategy.	interesting experience to see what goes behind the scene of a TV show, from the filming studio, to the costume preparation, and stage props.
Tay Ren Ann Andrew	Google Campuses are targeted at countries where start up communities are still young. They are not an incubator, and unlike other technology companies, they help to foster the start up companies together. In fact, it looks at the long term and hopes the start-up companies they are helping would be successful and hopefully in turn leverage on their technology in the future.	“A startup is like a rollercoaster. One day you can be sad because you lost an opportunity and but you’re happy the next because another will appear. Don’t be too worried about big ups or downs, instead enjoy the feeling. Don’t get into startups, if you are not going to enjoy it.” — Joey, CEO of PeopleFund	I learnt that the backdrop of the studio sets are all quick and dirty jobs. They are able to have the set up within 3 hours and pull them down at a moment's notice for the studio to be used for the next shoot.
Tay Wei Rong	I felt that is like a school where it provides: • A conducive environment for students in Google Campus = Its start-up • Professors act as mentor for the start-up.	People Fund is a disruptive start-up that’s able to change the loan process in the banking industry using an innovative way to bypass the tradition P2P market.	It was an eye-opening experience in KBS, didn’t know that a studio needs 50 spot lights to film just a scene in a studio.