Double Celebration in May

 

New Network for Entrepreneurs

11 May was a day of double celebration with the launch of the NTU NBS Entrepreneurs Network and Prof Boh Wai Fong and Dr Thara Ravindran’s new book "Identifying Business Opportunities Through Innovation''. Held at Google's Asia Pacific Office, the launch event featured a panel discussion that attracted over 100 alumni and partners.

NBS Deputy Dean Prof Boh Wai Fong (Front row 4^th from left)with NBS Alumni at the launch of NTU NBS Entrepreneurs Network and
the launch of her new book

 

Initiated by the NBS Alumni Advisory Board Entrepreneurship Taskforce, the NTU NBS Entrepreneurs Network is a platform that brings together members of the NTU community with an interest and orientation towards entrepreneurship. With the support of the NTU Innovation and Entrepreneurship (NTU I&E), network members can gain access to networking opportunities and resources such as shared workspaces, prototyping facilities, and capital and market access to commercialise their creations. Members can also look forward to participating in seminars and workshops to learn about the latest updates and research on entrepreneurship.

“We want to connect like-minded people who are on their entrepreneurship journey so that they are not working alone. Entrepreneurship is not a solo sport. It's a team sport where like-minded people can push us along this journey together, to reach our goals faster, and to stay motivated. Through the NTU NBS Entrepreneurs Network, we hope to provide both tangible and intangible resources, including access to the NTU Makerspaces and the upcoming NTU Innovation Port and which will be a one stop hub to provide support such as creating a minimum viable product (MVP). This network will be an avenue where you can get support for your entrepreneurship journey." - Mr Jimmy Ong, Co-Chair of the NBS Alumni Advisory Board Entrepreneurship Taskforce

 

Book Launch

At the same event, a new book, co-authored by NBS’s Deputy Dean Prof Boh Wai Fong and Dr Thara Ravindran, was launched. Titled “Identifying Business Opportunities Through Innovation”, the book was 12 years in the making. 

Dr Ravindran and Prof Boh pose for pictures during the book launch 

When asked about the reasons for writing the book, Prof Boh said that both Dr Ravindran and her wanted to share the numerous ideas that they have come across during their research with everyone and not have it go to waste.

Elaborating on the themes of the book, she said that opportunities arise from challenges, propelling us to seek improvements. Identifying these opportunities is not a static process but a creative one, which requires us to step outside of our comfort zone to look for patterns in unfamiliar domains. It calls for flexibility in changing goals and changing one’s business models. The book presents simple and innovative strategies in a direct writing style and covers the complete life cycle of entrepreneurship.

“Innovation is the lifeblood of entrepreneurship and identifying the right business opportunities determines whether an entrepreneur can take the venture further. Our book presents innovative strategies on navigating the current turbulent economy as well as lessons and insights built upon the many research projects that Dr Ravindran and I have been working on over the years. We hope this information gleaned from conducting over 500 interviews on how entrepreneurs and managers identify business opportunities and manage their enterprises will be a useful guide for practitioners.” - Prof Boh Wai Fong, Deputy Dean, Nanyang Business School

 

Panel Discussion

The title of the book was a befitting theme for the ensuing panel discussion. Featuring Prof Boh, alongside speakers Mr Richard Koh, Founder & Group CEO of M-DAQ Global; and Mr Chua Boon Ping, Senior Advisor to Cento Ventures & CEO of Straits Capital Investments Pte Ltd, the discussion was moderated by Mr Lim Chong Chong, Founder & Managing Partner of Ascent Capital Partners and Co-chair of the NBS Alumni Advisory Board Entrepreneurship Taskforce.

The panel discussion after the book launch was followed by a lively Q&A

“Innovation is a new way of doing things and is the fundamental principle for Venture Capitalists (VC). We look for opportunities where someone comes to us and explains that they can do certain things better, faster, and cheaper than no one else can. I always encourage entrepreneurs to talk to as many VCs as possible and attend more networking events because that is how you will get feedback. This is also how you will learn who your competitors are in order to check them out. Find out the difference between you and your competitors, then obtain feedback on how you can be better than the rest.” - Mr Chua Boon Ping, Senior Advisor, Cento Ventures and CEO, Straits Capital Investments Pte Ltd

“As an entrepreneur, if life gives you lemons, make lemonade out of it and make money from the lemonade. Innovation is not about finding the next big thing. It is about taking small steps towards solving real-world pain points and making things better, faster, and cheaper. For example, our first FX solution is for stock exchanges to provide investors with price transparency during cross-border securities trading. However, we later discovered that many customers on e-commerce platforms also face a similar challenge of being unsure of the final price when buying from overseas sellers due to the currency conversion. This created an opportunity for us to pivot and ensure that our innovation based on providing FX can deliver real value and impact to the world.” - Mr Richard Koh, Founder & Group CEO, M-DAQ Global

 

Join the NTU NBS Entrepreneurs Network

Do you have an interest in entrepreneurship? Join the NTU NBS Entrepreneurs Network to network, gain valuable insights or even serve as an alumni mentor. Be a part of NTU’s vibrant entrepreneurship ecosystem today!

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