2324T3 Jakarta/Reflection
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- Key takeaways or learning points from the course and project
- Quotes from presenter/senior management/owner/founder
- Keep to one sentence for the course and one sentence for the project
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Student Name
Mid-Trip Reflection
End-Trip Reflection
Ang Jia Li Gerald
I learned a quote from the Singapore Business Federation (SBF) that "it is not about what you know, it is about who you know to start a business."
Augustine Lim Zheng Hong
To start and run a successful company, understanding business and societal trends is crucial. Running a business is also a neverending process of competition and development, and not as simplistic and easy as outsiders might think.
Benedict Chia Min En
Building connections, forming partnerships with different companies is the secret to having a successful business in the long term. Running a business is more than just profits, it's a continuous improvement and adaptation to the market trend.
Caleb Loh Chee Heng
It has been an eye-opening experience, and the sharing by the different speakers has helped me recognise the importance of capitalising on market gaps, and because they were unafraid to put in the effort required, they saw success in each of their fields.
Chia De Han
Meeting with local entrepreneurs offered deep insights into their journeys, from ideation to execution. I learned about the resilience required to navigate a competitive market and the importance of adapting to cultural norms.
Overall, the study mission enriched my understanding of global entrepreneurship, broadened my perspective on startup dynamics, and equipped me with practical insights that will undoubtedly shape my future endeavors.
Chua Wei Ling, Jacqueline
Starting a business is not an easy feat. After meeting with the entrepreneurs, some encouraged to start a business in Indonesia while some discouraged. One should not jump on the start-up bandwagon if they have yet to consider all factors and the worse case scenarios, even if they have the capital to do so.
Chua Yi Kai
When reaching out to companies in Indonesia, utilising both formal and informal communication channels such as whatsapp and email may increase your chances of receiving a response.
Clarissa Koh Shi Qi
There are different ways to show investors the stability and potential of your company, one example would be to make a presence in 1 developing market and 1 developed market. This strategy not only demonstrates a company's ability to navigate diverse economic landscapes but also showcases its potential for growth and resilience across various market conditions.
Daryl Yoon Kaile
The most important aspect in starting a business is believing in an idea
Ee Zi Hao Stephen
Entrepreneurship requires not only ideas and an effective team but also passion on a personal level to make it possible. While being conscious of the need to make connections it is also important to be aware of the changes that might happen quickly in this market.
Goh Kelly
Through this trip, I learned more about the business culture in Indonesia. It was also an eye-opening experience to hear the various stories of startups and how they gradually grew their businesses.
Grace Angel Bisawan
Singapore is value-based, while Indonesia is relationship-based, don't be surprised if you friend suddenly built a bigger company and wants to acquire your company.
Jeffry Zhou
To start your entrepreneur journey in Indonesia, you need to first understand the social dynamics and importance of networking; Indonesia companies prioritize human relationship over values.
Joel Sng Zhen Wei
Learning about the interesting aspects of the Indonesia market and business landscape, and then interacting with different companies and learning how they adapt to/work around these specific aspects of the market was most intriguing to me.
Leck Yan Qing Elvy
Starting a business is not for everyone.
Leong Yew Kit
I learnt much about Indonesia, it's culture, as well as how different start ups functioned and operated. It was interesting to see how much the world has caught up even in a developing country like Indonesia. In an increasingly globalised world, I realised that the need for constant innovation and experience is in fact the differentiating factor for many successful start ups as well as successful individuals.
Lim Ze Yuen
Human relationship is essential in building a business
Loo Yan Shen Timothy
Business is not all about what you know but rather who you know. Indonesia places a huge focus on relationship and connections. I also learnt more about Indonesia’s market and its importance within the region.
Mohammad Nursyamiir
So far, this trip played a crucial role in helping me understand the size of the Indonesian market — especially in Fintech and the EV sector.
This trip has showed me the vast potential of starting up a business in Indonesia. The country has an abundance of talent in tech, and is increasingly supportive of new opportunities like P2P lending and Digital Assets.
Nivethikaa Vijayaraghavan
A startup's ability to forge strong connections and accurately assess user needs often dictates its growth and sustainability. It’s also important to form strategic partnerships with key players in the market we venture into.
Ooi Zhi Lin
I like that most of the TSM partners were very open and receptive to the questions, even the more unsuccessful ventures in their entrepreneurship journey. I find that to be the most insightful parts out of the presentations.
Saieesh Vinod
I gained a greater insight into the steps that aspiring entrepreneurs should take when trying to break into the Indonesian market, a market that is teeming with potential.
Victoria Grace Ann
While it is important to identify gaps in the market and create solutions to target them, what is more critical than securing enough funding is having a reliable network of people within and beyond the company.
Wesly Chau Li Zhan
To build a successful startup, connections are just as important as competence.
Yap Zheng Wei
A key takeaway from this trip is the importance of building connections and relationships when doing business in Indonesia compared to Singapore
