More South Koreans opt for tech startups instead of ‘chaebols’ and beyond Samsung


Korean Startup incubatorIncubator: The Yongsan startup incubator centre in Seoul. The government has poured billions into startups, in line with the president’s push to foster a ‘creative economy’ that would move beyond the traditional manufacturing base. — AFP

SEOUL: As an engineering major at Seoul’s Yonsei University, Yoon Ja-young was perfectly poised to follow the secure, lucrative and socially prized career path long-favoured by South Korea’s elite graduates.

But the idea of corporate life in an industrial giant like Samsung, however well-remunerated, simply didn’t appeal so instead Yoon joined the swelling ranks of young Koreans looking to make their mark in the volatile world of tech startups.

In her final year at college, Yoon, now 26, created a Pinterest-style image-sharing app, StyleShare, for fashion-conscious young women.

“I was always into fashion, and there were so many moments that I wanted to grab someone on the street and ask what is that pretty dress or pair of shoes she’s wearing,” Yoon said.

“All the fashion magazines only talked about expensive brand clothes, which didn’t help ordinary people like me,” she said.

The app became a hit and now has more than one million users.

Yoon said her parents initially panicked when it became clear the app was more than a fun hobby and she wasn’t going to get a “real” job. “But they soon became strong supporters,” she said.

Her father, a loyal LG employee for two decades, even offered some of his retirement savings to help kick-start the business.

For her parents’ generation nothing matched the stability and prestige that came with a job in one of the family-run conglomerates, or “chaebols”, that dominate the national economy.

The likes of Samsung, LG and Hyundai remain magnets for many of the country’s brightest graduates. But with the global economy in low gear and the smartphone era opening new doors, an increasing number like Yoon are forsaking a rigid career structure to try tech entrepreneurship.

The number of new “venture firms” – high-risk, largely tech-related enterprises – stood at 30,053 last month, according to the state-run industry tracker Venturein.

That figure was almost double the 15,401 registered in 2009 – a milestone year when the first iPhone went on sale in South Korea and brought the app-making industry with it.

Under President Park Geun-hye, the South Korean government has poured billions of dollars into startups, in line with her push to foster a “creative economy” that would move beyond the country’s traditional manufacturing base.

“There is an astounding amount of money, from both the private and state sectors, flowing around in the market right now,” said Jang Sun-hyang, investment director at Mashup Angels, a Seoul-based startup incubator.

“The word ‘startup’ didn’t even register in the public consciousness in, say, 2011. Now it’s one of the hottest buzzwords among college kids,” Jang said.

According to government data, the pool of private and public investment available to tech startups stood at 2.5 trillion won (RM8.4bil) in 2014, up 62% from a year ago.

South Korea’s hyper-wired populace also offers a fertile ground for tech businesses – most households have broadband access and 80% of people own smartphones.

More than 60% of smartphone users – the highest ratio in the world – use ultra-fast 4G service that allows users to download a feature-length film in a few minutes.

Google is set to open “Campus Seoul” this year to help train budding startup firms and facilitate their expansion, while Samsung and LG are also boosting investment in startups.

As the number of other incubator centres popping up offering office space, business advice and potential investment opportunities rise, the capital is drawing comparisons with US tech haven Palo Alto in Silicon Valley.

But challenges remain. The relatively small domestic market means successful start-ups have to look overseas if they want to keep growing.

Crossing language and cultural barriers can be daunting, even for established firms like Kakao Talk, the South’s top mobile chat app with 48 million global users which has struggled to expand into Southeast Asia.

And the consequences of failure are high in a society where experience counts for little if there is no successful outcome. — AFP

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Climing over the Great Firewall


Great Firewall

As the Chinese government further restricts online communication, virtual private networks are trying to overcome the barriers.

There are alternatives to the blocked services, but let’s just admit that the features on the censored sites are still the most appealing and user-friendly.

IT began with Line and KakaoTalk, foreign instant messaging apps, around July last year.

Instagram was next, during the height of the pro-democracy protests in Hong Kong in September.

I remember reaching out for my mobile phone one day after I woke up, checking my Instagram feed as part of my morning ritual, but for some reason, it just would not load smoothly.

Last month, the default mail app in my phone, which is synced to my Gmail account, also stopped working.

These bans imposed by China restricted communication even further as sites such as Facebook, Twitter, Google and Youtube have long been inaccessible in mainland. The censorship is put in place to control what the people see online.

Frustrated, a fellow foreign journalist commented: “The Chinese government has been actively advocating connectivity, but the ban is causing the total opposite.”

To overcome the inconveniences, foreigners residing in China and some Chinese nationals rely mainly on virtual private networks (VPNs) to access the blocked sites and apps.

With a fee, VPNs help users bypass restrictions and censorship on their mobile phones and computers by connecting them to servers outside China.

The act of using VPNs is cheekily known as “fan qiang” or “climbing over the wall” as the censorship is referred to as the Great Firewall, after the Great Wall of China.

Of course, there are alternatives to the blocked services, but let’s just admit that the features on the censored sites are still the most appealing and user-friendly.

Communicating with the world outside China is also easier with the common platforms of Gmail and Facebook, but unfortunately, accessing them within the borders of China is difficult.

Lately, the grip on the Internet was tightened with the Chinese authorities clamping down on VPN services. Users reported interruptions and failures to connect to VPNs.

Responding to the interrupted services, an official from the Industry and Information Technology Ministry (MIIT) said in a press conference this week that the move is essential for the healthy development of the Internet in China.

MIIT director of telecom development Wen Ku said the ministry has to employ new methods to “maintain cyber security and steady operation” with the rapid development of the Internet.

He reminded foreign sites to abide by Chinese laws if they want to operate in the country.

“Certain negative content should be regulated according to the Chinese law,” he said.

To a question on whether blocking VPNs would affect the vitality of the Internet, Wen said the development of Internet services in China is concrete proof of the effective policies, citing Chinese e-commerce giant Alibaba as an example of success stories.

But as the Chinese saying goes, “As the virtue rises one foot, the vice rises ten feet.”

While the Chinese authorities upgraded the Great Firewall, VPN providers such as StrongVPN and Astrill vowed to overcome the disruption.

“Notice to StrongVPN users, we are currently working diligently to find a resolution with certain servers not working in China,” StrongVPN posted on its website.

It also enticed possible customers to subscribe to its services to “protect your online security, personal privacy and help promote Internet freedom”.

Astrill said the increased censorship is “just a way for China to say ‘we don’t want you here’”.

It told its users, “We know how access to unrestricted Internet is important for you and we are doing our best.”

The tug-of-war continues.

Source: Check-in China by Tho Xin Yin

The views expressed are entirely the writer’s own.

Malaysian worked as janitor is a serious innovator


Malaysian innovator_G WalterTV star: Dr Walter showing the company’s big LED television.

From Janitor to serious innovator

MALACCA: As a university student, he worked as a janitor to earn some pocket money.

Dr Gabriel Walter, 37, who studied electrical engineering at an American university, now holds about 100 patents in electronic and electrical innovations.

The Kelabit boy from Bario, Sarawak, wants to break the monopoly of foreign brands selling their products at exorbitant prices.

For example, he has introduced a big screen light emitting diode (LED) television, which includes all connecting gadgets, and priced at about RM6,000 compared to popular foreign brands that can cost almost RM20,000.

There is also a smartphone application, costing just a few hundred ringgit, that can integrate home appliances with just a cyberspace connectivity.

“I am determined to make available quality, feature-perfect appliances that can communicate with any other devices in an ad hoc network with a single connectivity.

“All these wonders are packaged and assembled here and sold at affordable prices. It is a Malaysian invention,” he said in an interview.

Dr Walter, who was a Mara scholar, studied at the University of Illinois at Urbana-Champaign where he earned a doctorate.

He was an Adjunct Assistant Professor from 2003 to 2009 at the university, where he was also once a senior research scientist.

Despite his long list of achievements, Dr Walter has not forgotten his humble beginnings where his father used to live in a longhouse.

At a tender age, he started selling groundnuts to help supplement the family income.

“Life was hard then. I used to work as a janitor when I was studying in the United States as the scholarship was only adequate to cover my education,” he said.

Several months ago, Dr Walter returned to Malaysia for good after receiving a government grant of RM2mil for research and development before setting up his own manufacturing plant in Batu Berendam.

“I must thank former Chief Minister Tan Sri Ali Rustam who was persistent that I should set up a plant in Malacca when he first met me in 2006 during a bio-tech conference in the United States,” he said.

Dr Walter established Quantum Electro Opto Systems Sdn Bhd (QEOS) and launched its first commercial product based on its patented high-speed light-emitting technology known as tilted charge dynamics in 2013.

QEOS is based here with an office in the Silicon Valley, California, where Dr Walter is the chief executive officer.

His university mentors – professors Nick Holonyak Jr and Milton Feng – are part of his team.

The QEOS website stated that Prof Nick Holonyak Jr is widely regarded as the inventor of LED.

The company, it said, wanted to “pioneer the commercial development of high speed, low-cost and power efficient fiber optics communication solutions”.

By R.S. N. Murali The Star/ANN

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Will shale oil survive the price fall?


American shale oil enterprise WBH Energy filed for bankruptcy ro January 4, 2015. This could be the beginning of a shakeout of shale oil enterprises. Since 2010, the debt of America’s energy enterprises has increased 55 percent; meanwhile, the energy sector of S&P 1500 index has dropped rapidly. The shale oil revolution has not only been stricken by the low oil price, but also “abandoned” by investors. As liquidity runs short, small and medium-sized shale oil enterprises will either go bankrupt or be taken over if they survive the oil price crisis.

American shale oil

The reason for the oil price slump is becoming clearer: oversupply. However, since oil producers will not reduce output, the downward trend continues. Canadian heavy crude has dropped below 35 USD, a new low since February 2009. In the past six months, the price has fallen by 60 percent. We can say that the shale oil revolution is being blocked by the low oil price – in other words, it is being hindered by OPEC (Organization of Petroleum Exporting Countries), principally represented by Saudi Arabia. When the oil price dropped below 50 USD, OPEC had a meeting seeking consensus on maintaining oil output. The average production cost of OPEC is about 40 USD, while the cost of shale oil is above 60 USD. As long as the price is above 40 USD, OPEC can still make profit, but the shale oil enterprises will be squeezed out. At the end of 2014, in order to exploit the market for US oil producers, the US Department of Commerce lifted the ban on the export of condensate oil. The US has ended its 40-year oil export ban to join in competition with the other oil producers, which means that on the one hand the US has become an international oil producer, while on the other hand shale oil has had a huge impact on the world energy structure, and the world oil market has excess production capacity. For the US, shale oil has provided a new economic growth point and provided additional chips when competing with other oil producing countries. Therefore, the US government will offer necessary supports to shale oil enterprises. However, the market cannot be easily manipulated by one or two countries. The US wanted a moderate drop in the oil price, which would stimulate its economy as well as “fix” those insubordinate oil producing countries. But the downward trend of the oil price has been irresistible, and now threatens the survival of the American shale oil industry. Faced with the falling oil price, shale oil enterprises, with their relatively high production costs, have entered a crucial phase of life and death. Unless all the oil producing countries join hands to limit production and achieve a rebalancing of supply and demand, the oil price will not rebound in the short term. Saudi Arabia and the other Gulf countries blame the oil price crisis on the irresponsible behavior of non-OPEC oil producing countries, which in fact targets the shale oil producers. The new energy industry is suffering under the impact of the falling oil price too. The stock price of electric vehicle producer Tesla is also in a slump. But for the shale oil enterprises, this is an issue of life or death. – (People’s Daily Online) Related posts:

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2015 Hack of a year ahead!


Hack 20152014 has seen a tsunami of epic hacks and identity thefts, including the recent massive cyber attack on Sony Pictures Entertainment. Security experts are predicting more or worse cases of such hackings, including in Malaysia where the awareness of cyber threats and security measures is still very low

Hack_getimageBrace for more cyber attacks

PETALING JAYA: If you think that a cyber attack like what happened to Sony Pictures Entertainment could only happen in Hollywood, think again.

It is a sign of what’s to come globally in 2015, say cyber security experts.

In the attack on Sony on Nov 24, the attackers hacked the company’s network and took terabytes of private data, deleted original copies from the company’s computers and left messages threatening to release the information if Sony did not comply with their demands.

Nigel Tan, director of systems engineering for software security firm Symantec Malaysia said the prominent data leaks of 2014 would keep cyber security in the spotlight in 2015.

“With the interconnected nature of a global Internet and cloud infrastructures, cross-border flow of data is unavoidable and needs to be appropriately addressed.

“Malaysia was affected in the data breaches this year and will continue to be affected next year,” he said.

Tan recalled a hack last month by a site called Insecam, which downloaded and displayed images from unsecured webcams of CCTV and simple IP cameras around the world, including from Babycams.

Symantec expects more mega data breaches next year, especially with the rising use of mobile devices for e-payment and the cloud computing technology for storage of personal and confidential information.

“Mobile devices will become even more attractive targets for cyber attackers in 2015 as mobile carriers and retail stores transition to mobile payments.

“Mobile devices are also used to store troves of personal and confidential information. They are left switched on all the time, making them the perfect targets for attackers,” said Tan.

He said the growing use of smart home automation, like smart televisions, home routers and connected car apps had also increased the potential of cyber attacks as more devices were being connected to the network.

Cyber law expert Dr Sonny Zulhuda agreed that the idea of synchronisation and interlinking of smart home automation (or the Internet of things) would be too tempting for both users and “abusers”.

“Users need to balance the use of these devices and smart technology with the efforts to preserve security, privacy or confidentiality.

“Just imagine how many mobile users are concerned about installing a good malware scanner on their devices. In the mind of the criminals, on the other hand, this will make their work even easier.”

Dr Sonny, who is assistant professor at the law faculty of the International Islamic University Malaysia, said it would come to a point where people would get too tired with the intrusion and abuse of their privacy.

“In Malaysia, for example, more people are being aware about the need to protect personal data thanks, to the enforcement of the PDPA 2010 (Personal Data Protection Act).

“Perhaps it is timely now to consider the development and penetration of cyber insurance as a new product for our insurance industries,” he said.

Imam Hoque, managing director of business analytics software and services company SAS said another reason why more cyber criminals target mobile devices was the increasing number of corporations embracing the “bring your own device” (BYOD) to work policy.

“This coupled with a general trend for business to provide more methods of interaction with consumers using mobile devices opens up further opportunities for hackers.

“The emergence of more mainstream malicious software kits for these mobile devices will accelerate the number of attacks on the mobile channel,” he said.

Hoque said that the continued trend to store data within the cloud, coupled with the high-publicised data losses from corporations such as Sony would encourage more hackers to consider large data loss exploitation.

“This in turn will lead to higher levels of identity theft and the ability of hackers to compromise the relationships between individuals and the institutions with which they interact,” he said.

CyberSecurity Malaysia CEO Dr Amirudin Abdul Wahab said while malware would continue to rise steadily on mobile devices to attack individuals, cyber criminals would also exploit the mobile device for advanced persistent threats (APT) on specific targets, resulting in high impacts on security, prosperity and public safety like critical infrastructure and big corporations.

“We foresee sophisticated APT carried out using a combination of technical sophistication, excellent planning and coordination, and social engineering,” he said, adding that another major cyber threat next year was the increasing influence of social media.

“Social media can be exploited to propagate political and racial radicalism as well as religious extremism that could destabilise our national security and societal harmony which we have taken for granted all these years.”

BY Hariati Azizan The Star/Asia News Network

Common hack job used to attack Sony Pictures 

Hack_SonyThe entrance of Sony Pictures Studios in Culver City, California is seen December 16, 2014. “Guardians of Peace” hackers invoked the 9/11 attacks in their most chilling threat yet against Sony Pictures, warning the Hollywood studio not to release a film which has angered North Korea. – AFP

PETALING JAYA: The hack on Sony Pictures Entertainment might have been one of the most incredible cyber attacks ever, but it was carried out in one of the most common modus operandi of cyber crime.

As reported on Friday, US investigators had evidence that hackers stole “the keys to the entire building” of Sony Pictures by getting the password of a top-level information technology employee in the entertainment company.

Security experts in Malaysia have warned that we are also vulnerable to similar attacks with low level of awareness of cyber threats and security measures.

Cyber criminals exploit “users’ ignorance”, along with the rise of social media and mobile devices, to mount attacks against them,” said CyberSecurity Malaysia CEO Dr Amirudin Abdul Wahab.

He said more cyber criminals were using a combination of technical sophistication and social engineering – a non-technical method of intrusion that relies heavily on human interaction – to trick people into breaking normal security procedures and giving up their personal data.

Nigel Tan, director of systems engineering for Symantec Malaysia, cautioned that user behaviour will continue to be big target points for cyber crime next year.

“Sometimes the weakest link is the person behind the keyboard. If they visit dodgy websites, click on unknown links in fake emails and download apps or malicious software, cyber criminals will take advantage of this to siphon off information like passwords for online banking or e-mails.”

Tan said as most people still tend to use the same password for all their online transactions, services and websites, a stolen password can give the thief access to the victim’s whole life.

“And once they access your email, they can reset all your passwords and take over your identity,” he said.

Imam Hoque, managing director (Fraud and Security Solutions) with business analytics software firm SAS said the growing number of online services has created a goldmine for cyber criminals.

“If you think about how many different services you interact with over web and mobile channels, the numbers are forever growing.

“You need to consider what a hacker would need to know to compromise your accounts and then what damage they could do,” he said, stressing that hackers tend to go for the weakest link and then work their way from there.

Tan highlighted the case of a group of hackers in August who claimed to have stolen 1.2 billion usernames and passwords belonging to more than 500 million e-mail addresses in a hack described as the “largest data breach known to date”.

“They did it by targeting every site their victims visited, instead of focusing on one large company,” he said.

Cyber law expert Dr Sonny Zulhuda said cyber criminals tended to exploit people’s greed to attack them.

“While it is important to equip ourselves with some technical knowledge about the risks and threats to security, we also need to use our common sense when facing possible threats.

“One thing we need to understand with technology is the law of economy – why would people provide you mobile apps for free? Or any online service for that matter, for free?”

“How do they make profit if not from the access to users’ information that they acquire when you install such a free app? If one is keeping this in his mind, then he will be more mindful and careful in using the mobile devices.”

Dr Amirudin warned local computer experts not to be seduced by the seemingly easy but lucrative reward of cyber crime.

“Cyber crime is preferred by criminals due to its profitability, convenience and low risk, and their ‘success’ has boosted the global underground economy. It has even become a money-making profession for some computer experts.

“If this trend affects Malaysians, our own experts could be recruited to join the lucrative international underground economy, while our general public become their potential victims.”

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How WhatsApp founder made it big from rags-to-riches?


WhatsApp_Founder Jan Koum

Once a cleaner at a grocery store, Koum’s fortune changed the day he got the idea of an app that would allow people to send text messages via the Internet instead of sending SMS.

WhatsApp users worldwide received surprising news when Jan Koum, the founder of WhatsApp announced that Facebook was buying over WhatsApp for USD19 billion in cash and stock. It is by far the biggest acquisition made by the social networking giant to date. Prior to this, Facebook closed a deal with Instagram for USD1 billion in 2012.

WhatsApp Messenger is a successful cross-platform mobile messaging app that allows users to exchange messages without having to pay SMS bills. All it needs is an internet data plan. In addition to basic messaging WhatsApp users can also create groups, send each other unlimited images, video and audio media messages. WhatsApp currently has 600 million users worldwide.

Jan Koum, now a billionaire from the deal made with Facebook, was born in a small town outside Kiev, Ukraine. He was the only child of a housewife and construction manager and the family led an austere life. At the age of 16, he moved to Mountain View, California with his mother and grandmother. His father stayed behind with plans to follow on later.

To make ends meet every month, Koum worked as a cleaner at a grocery store and his mum worked as a babysitter. He even had to line up to collect food stamps during those tough times. His mother was diagnosed with cancer in 1997 and they lived off her disability allowance. It was in the same year that Koum’s father became ill and passed away. His mother too eventually succumbed to cancer and passed away in year 2000.

At the age of 18, Koum developed an interest toward computers. He taught himself computer programming by purchasing manuals from a used-book store and returning them after he was done. He then enrolled in San Jose State University and moonlighted for Ernst & Young as a security tester. After that he worked for search engine company, Yahoo! Inc.

Koum’s work involves inspecting Yahoo!’s advertising system, which led him to cross paths with Brian Acton (later co-founder of WhatsApp).

Over the next nine years, Koum and Acton were pulled in to help launch Yahoo!’s advertising platform. Koum recalled Acton’s words, “Dealing with ads is depressing. You don’t make anyone’s life better by making advertisements work better,” Koum was not happy with the situation as well.

In September 2007, Koum and Acton decided to resign from Yahoo!. After taking a one year break, Koum and Acton started looking for jobs. Both applied and got rejected by Facebook Inc. It was two years later in 2009 that Koum bought an iPhone and realised that the App Store would unlock future potentials. Koum had the idea of an app that would allow people to send text messages via the internet instead of sending SMSes. He named it WhatsApp that sounds like “What’s Up”.

It became an instant hit among iPhone users after the app was uploaded to the App Store. Koum insisted not to sell ads on the app after his bad experience dealing with ads at Yahoo! for years. WhatsApp was growing big worldwide and the founders decided to charge an annual rate of USD1 to its users. They were surprised to know that users are willing to pay to use the app.

WhatsApp gradually brought in USD5000 in revenue every month by 2010. Acton helped out Koum by investing USD250,000 in WhatsApp. As a result Acton was named co-founder of WhatsApp. By early 2011, the number of users are growing at an immense rate, and it is adding an additional million users everyday.

WhatsApp became one of the top 20 of all apps in the U.S App Store. Two years later, Sequoia invested another USD50 million. This resulted in WhatsApp being valued at USD1.5 billion.

In 2012, Koum received an email from Facebook founder Mark Zuckerberg. Zuckerberg was very interested at what Koum built and hinted to Koum at his interest in combining their two firms.

After two years, Koum and Acton signed and sealed the deal with Zuckerberg on the door of the welfare office where Koum used to collect food stamps.

Facebook bought WhatsApp for $19 billion in cash and stock in February 2014. Its by far the most lucrative engagement in tech history.

This deal seals Koum as tech’s new billionaire, pocketing USD6.8 billion after taxes. The agreement also appoints Koum as Facebook’s new board member – a rags-to-riches story that should inspire all nerds out there.

Source: JobStreet.com, the No.1 job site in Malaysia, thesundaily.com

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Startups sharing ideas and seeking validation from others to progress and gain benefits – final part 10


Startup_build relationships

Start building relationships with investors

ENTREPRENEURS are naturally protective of their ideas. Understandably, they keep their ideas to themselves to avoid having them stolen.

Startupup-Don't keep itDon’t keep it to yourself Tell your idea to as many people as possible and seek their opinions. Talk with people you trust and whose opinion you value.

While it is important to protect proprietary information from being copied, entrepreneurs can also gain valuable insight and perspective from feedback before investing heavily in a product that only looks good conceptually.

A startup’s journey is very much akin to running a series of experiments before it finds a path to sustainable growth. A product or an idea should be subjected to validation before it can be tweaked and scaled up to form a viable company.

And what better way to get some form of early validation than to share your ideas with like-minded people for constructive input.

While entrepreneurs are more willing to share and discuss their ideas these days, this culture of sharing is still new in the local scene.

Seasoned entrepreneurs have found bouncing ideas off other people to be more helpful than harmful. Apart from getting feedback on their ideas, they note that more often than not, sharing connects them with other people who can help fill the gaps and turn ideas into reality.

Additionally, sharing ideas and resources could also help accelerate innovation in a field.

For example, American electric car manufacturer Tesla Motors recently announced that it will be making its patents available to other companies that want to use them.

Tesla chief executive officer Elon Musk explained that the move would help advance electric vehicle technology.

Startup_Elon Musk Tesla car

Elon Musk, CEO of Tesla, unveils the dual engine chassis of the new Tesla ‘D’ model at the Hawthorne Airport October 09, 2014 in Hawthorne, California.

“Our true competition is not the small trickle of non-Tesla electric cars being produced, but rather the enormous flood of gasoline cars pouring out of the world’s factories every day,” Musk had said.

By allowing the use of its patents, industry observers note that Tesla will be clearing the way for more collaboration with other electric car makers to develop new technologies and would enable the company to take a leadership role in developing standards for the industry and its value chain.

Entrepreneurs are increasingly being encouraged to share and collaborate to innovate and build better products.

And a beauty about being in the present time is that there are more ways than ever to tap into a support network that can provide startups with a platform to share and build on ideas and resources.

Some of these platforms include spaces such as incubators, accelerators and co-working spaces. Apart from being just a shared working station, incubators, accelerators and co-working spaces have evolved into collaborative work spaces that provide entrepreneurs with the opportunity to meet and collaborate on ideas with a host of other people to innovate better solutions.

Additionally, there are various forums as well as startup events and programmes that provide a conducive environment for entrepreneurs to network, share ideas and work together. There are also a number of agencies that are targeted at guiding entrepreneurs with developing their ideas.

Most entrepreneurs still worry about letting on too much on their ideas. But if they can overcome that fear, entrepreneurs stand to gain much from collaborating with one another.

Take advantage of the entrepreneurial community brought together by such platforms to innovate and rather than develop your ideas in silos.

■ This is the final article in a 10-part tie-up between Metrobiz and the Malaysian Global Innovation & Creative Centre (MaGIC) to explore startup ecosystems.

By Joy Lee The Star/Asia News Network

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Endeavouring to give back to startups – part 8

Successful entrepreneurs join forces to fund and support businesses Malaysia has seen quite a number of successful entrepreneurs coming i…

Startup’s components of a support system, govt incentives, market access – part 5, 6, 7

Startups vying for the attention of Venture capitalists (VCs) – part 4

OOI Boon Sheng, founder and chief executive officer of Web Bytes Sdn Bhd, was fortunate to have found a good

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