Day: August 2, 2024

Founders, here’s your startup pitching guide as shared by expert VCs themselves

The startup ecosystem is a high-stakes arena where innovation meets capital. 

For aspiring entrepreneurs, securing investment is often the linchpin to transforming a promising idea into a thriving business. However, navigating the complex world of venture capital (VC) funding can be daunting. 

To help you through this crucial step, advice from several VCs at the Startup Arena Pitch Battle during the Tech in Asia Conference 2024 could make your startup stand out.

The anatomy of a successful pitch

A compelling pitch is more than just a sales presentation; it’s a narrative that captivates investors and showcases the potential of a startup. 

Joel Neoh from First Move said a successful pitch builds on three pillars: the future, the past, and the present. This approach organises the presentation and covers all the critical aspects that interest investors.

“The future vision should be inspiring and ambitious, painting a picture of the impact the startup can create,” he explained. It’s not just about what the product or service does today but where it could go tomorrow. 

Investors should be able to imagine a world where the startup is wildly successful. If they can visualise this future, they’re more likely to believe in it. 

Joel emphasised that storytelling plays a crucial role here, helping to create an emotional connection and making the investors feel the excitement of what could be.

“The past should demonstrate traction, showcasing the team’s ability to execute and achieve milestones,” he shared. Joel advised highlighting progress, significant milestones, and exponential growth. 

Demonstrating past success builds confidence in the entrepreneur’s ability to deliver future results. Investors want to see that the startup has already started on the path to success. Metrics, user growth, revenue, and other indicators of traction are crucial in this part of the pitch.

“And the present should outline the clear path forward, highlighting the company’s current focus and strategies,” shared Joel.

Entrepreneurs should detail the steps they’re taking, their immediate goals, and how they are navigating current challenges. This reassures investors that there is a solid plan and the ability to carry it out effectively.

Finding the right fit

Kevin Sutantyo from Sovereign’s Capital highlighted the importance of alignment between founders and investors, also known as the investor-startup fit.

It is crucial to ensure a strong connection between the founder’s background and the problem being solved.

He emphasised the need for relevant experience, showcasing how the team’s expertise makes them the right people to tackle the problem. And speaking of the right people, not every investor is the right match for every startup. Finding the right fit can make all the difference. 

Kevin advised researching potential investors to understand their interests and previous investments, and then tailoring the pitch to align with what they’re looking for. 

Seeking compatibility is vital. Entrepreneurs should look for investors who not only bring capital but also align with their vision and can provide strategic support.

“Authenticity, transparency, and a genuine passion for the business are essential qualities that resonate with investors,” said Kevin.

Thinking big and global

Malaysia boasts a burgeoning startup ecosystem with a wealth of talent. However, the local market is relatively smaller than its regional counterparts.

To achieve significant growth, Malaysian startups need to adopt a global mindset. “The world is our oyster,” said Samuel Simanjuntak from Monk’s Hill Ventures.

“Founders should aim high and target regional or global markets from the outset.”

Joel agreed, emphasising the importance of thinking big. “By focusing on global opportunities, startups can access larger markets, attract top talent, and build more substantial valuations,” he explained. 

“While it may be tempting to focus on the local market, a global perspective is essential for long-term success.”

Overcoming challenges and securing investment

The path to startup success is fraught with challenges. From securing funding to building a strong team and navigating market competition, entrepreneurs face numerous hurdles. 

To overcome these challenges, founders need a combination of resilience, adaptability, and a relentless pursuit of excellence, said Chrissy Hu from 500 Global.

“Investors are looking for founders who are not afraid to take risks and learn from their mistakes.”

“Demonstrating a strong work ethic, a deep understanding of the market, and a clear vision for the future are essential qualities that attract investor attention,” said Chrissy.

Chrissy also advised maintaining relationships with VCs, as they might pass on a startup now but could invest later as the company grows and evolves. 

Viewing VCs as partners invested in the startup’s success can offer valuable insights and resources beyond just funding.

Joel echoed this sentiment, sharing his personal experience of facing numerous rejections before securing funding. 

“Even when I was fundraising for my startup, I had 63 no’s before I got one yes. That’s kind of how we got started,” shared Joel.

He said that building a strong network and maintaining positive relationships with investors can open doors in the future.

Securing investment is a crucial milestone for any startup, but it’s just the beginning of the journey. 

By crafting a compelling pitch, building strong investor relationships, and adopting a global mindset, Malaysian entrepreneurs can increase their chances of success. 

• Learn more about Tech in Asia Conference 2024 here.

Also Read: Meet the startup that powers the backbone operations of over 7K M’sian F&B outlets

Featured Image Credit: Vulcan Post

Thinner & lighter, the Samsung Galaxy Z Fold6 is now better than ever as a daily driver

I love a good foldable phone, especially those of the tablet foldable assortment. Look at all that real estate. What’s not to love?

Well, according to some people in my life, quite a lot of things. The most common complaint is that they find it bulky, heavy, and lacking practical use cases.

But Samsung’s Galaxy Z Fold6 is thinner and lighter than ever, and after a couple of weeks of using it, I’m inclined to say it’s pretty practical.  

Putting the specs in spectacular

The review unit we got our hands on came in the Silver Shadow colourway, which is nice and classy. But for those who want a pop of colour, there’s a Pink option, or perhaps a more subtle Navy. It also comes in White and Crafted Black, the latter offering a carbon fibre-esque pattern.

Of course, even though the phone is the thinnest it’s ever been, it will still feel thicker than your average phone when using it closed. That’s just the price to pay when using a foldable.

The hinges are smooth but tight, which is fantastic because it means the phone won’t snap shut on you. It’s able to really hold itself in place even just centimetres away from lying flat, which I appreciate.

The crease is rather seamless, especially compared to past models, but I wouldn’t call it invisible. I personally don’t quite mind it, though, as it doesn’t affect my viewing experience that much.

The width of the 6.3-inch cover screen is actually quite comfortable and natural—not too narrow or squeezy. Though it’s just a tad wider than its predecessors’, the difference is noticeable.

The fold-out screen is just as good, with 2,600 nits making the screen 1.5x brighter than before.

For the first time for a Samsung Fold, the Z Fold6 has an IP48 resistance. The second number which signifies a device’s protection against liquids hasn’t changed, but it’s the first time the first number isn’t an X.

The “4” means the phone is protected against a solid object greater than 1mm, such as a wire. It’s not quite dust-resistant, but it’s a start.

A picturesque camera quality

When it comes to the cameras on this phone, it’s not lagging behind compared to many conventional ones on the market. Sure, it might not boast the S24 Ultra’s primary 200MP sensor, but its 50MP + 12MP + 10MP setup is more than decent in my eyes.

One of the best use cases of the fold mechanic is to take ridiculously high-quality selfies, and the Z Fold6 does not disappoint. Compared to another foldable phone I’ve used before, I find the focus to be a lot better, not rendering people in the background into blurry little pixels.

The front cover’s under-display camera leaves much to be desired though. I personally do not find much value in using those when the lovely rear cameras can do the job so much better.  

There are plenty of additional features you can explore such as the Auto Framing that basically tracks the subject to ensure they are centred. But unfortunately, it doesn’t sport the Auto Zoom function that the Z Flip6 comes with.

There’s really nothing to nitpick about the cameras, but I will say it took me a while to get the hang of how to switch to the cover screen and take a selfie without constantly mis-pressing buttons on the foldout screen.

Putting on a performance

One of the highlighted upgrades of the Z Fold6 is that it comes equipped with Galaxy AI.

This means that you can tap into a whole assortment of AI tools such as photo editing tools, Circle to Search, and article summary generations.

To really maximise a tablet foldable, it’s all about the multi-windows. Personally, I find this particularly useful when I need to listen to voice recordings while taking down notes. It’s almost like a mini laptop at times.

Offering up to a 120Hz refresh rate, gaming (and doomscrolling) on the phone is as smooth as can be, complete with crisp graphics and great sound quality. It houses the fastest Snapdragon on a Galaxy Z Fold to date, offering 19% faster graphics rendering and 18% faster performance overall.

The battery capacity is 4,400 mAh, which is the same as the phone’s predecessor. That said, a full charge does last me a full day of use without any issues, so I’ll take it.

One minor but important thing I will say is that about five out of 10 times I try to unlock my phone with my fingerprint on the side sensors, it will tell me it doesn’t match. I don’t know if I just have bad prints, but it got pretty frustrating at one point. I’ll just stick to Face ID, I think.

Verdict

Sporting a price of RM7,299, the Z Fold6 is certainly more of a luxury phone. In general, I do still find tablet foldables to be more of an extravagant, novelty product rather than a practical and reasonably priced daily driver.

But for loyal users of Samsung’s Fold phones, I think that this is an update worth buying into. Seven years of software updates is a pretty nice promise as well.

Overall, it’s a really solid step forward for Samsung’s Fold phones. That said, compared to the Flip, the Fold range of phones seems to be getting a slower facelift, with improvements being more incremental rather than completely innovative.

Still, I enjoyed using the Galaxy Z Fold6. If you’re trying to get into the foldable scene, this may be the time to start.

• Learn more about Samsung Galaxy Z Fold6 here.
• Read other articles we’ve written about Samsung here.

VP Verdict is a series where we personally try and test out products, services, fads, and apps. Want to suggest something else for us to try? Leave a comment here or send the suggestion to our Facebook page.

Also Read: This agritech solution by UiTM & TechnoDex aims to boost food security & empower B40 farmers

This S’porean brand has a plan for more youngsters to enjoy bird’s nest—bubble tea

Bubble tea has a bad reputation. 

For such a delightful beverage, people tend to look at it as a pathway to diabetes. It’s not exactly wrong since they usually contain copious amounts of syrups.

But one Singaporean brand that’s been turning it into a healthier treat is Bliss Nest Capsules (BNC). 

How? By incorporating traditional bird’s nest into the Gen-Z-crazed drink. 

Revamping a traditional delicacy

I know what you’re thinking, this has to be some sort of marketing ploy, right? That’s what I first thought too when I came across them on Instagram. Can you really get the health benefits of bird’s nest by drinking it this way?

According to its founder, Wang Jun Han, this is very much possible. 

“We did the test by soaking the bird’s nest with coffee, tea, as well as sparkling water [for] over one hour [then] sent them for lab tests. The results show those bird’s nests still contain amino acids and sialic acids,” he shared.

For context, Cleveland Clinic stated that amino acid helps to break down food, grow and repair tissues, and boost your immune system. On the other hand, Science Direct reported that sialic acid helps in the improvement of brain development. 

So it seems that consumers of BNC’s bubble tea drinks would be getting these health benefits. The combination of the two is still quite odd, though.

Bird’s nest is more favoured by the older generations, while youths don’t gravitate much to them. This is an observation that another bird’s nest brand, NestBloom, echoed to us just months before.

This is exactly why Jun Han felt the need to revamp the way Singaporeans consume the traditional delicacy. 

Adding a new twist

Speaking candidly, the founder explained that he’s been in the bird’s nest industry for about a decade. BNC used to only be a production factory that cleaned and traded bird’s nests. 

However, as time passed, he noticed that the appreciation for this traditional treat began declining. The younger generations found its natural taste boring and its preparation a bit of a hassle. Demand slowly dropped as well.

So his team came up with bird’s nest bubble tea to cater to the modern crowd. 

The R&D took nearly three years where they explored the market and learnt what customers liked and what their consumption behaviour was like. “We changed the menu four times and the recipes more than 10 times before we felt ready for the market,” Jun Han disclosed.

It was during their final test round at Takashimaya Food Fair 2023 that he was finally satisfied with the product. The reception was so good that it gave them the confidence to open a physical store in the bustling ViVocity Mall. 

Like other bubble tea brands, BNC also offers consumers the ability to customise their own bird’s nest drinks:

1. Choose your preferred bird’s nest flavour and size (50g or 75g). There are different concoctions targeting different benefits like Classic, Youth, Beauty, Rejuvenation, etc. All of these are served in small capsules.
2. Opt for your choice of beverage flavours, such as Jasmine Milk Tea, Brown Sugar Green Tea, Pink Lemon Sparkling, Americano, and Wolfberry Lychee Tea (which is their bestseller).

The bird’s nests are packaged in convenient-to-use capsules. Each of these capsules contains full pieces of bird’s nest which you can add to your drink by yourself. So if you’re someone who prefers to consume them separately, that’s still an available option. 

Conveniently packed capsules

All of BNC’s bird’s nests are imported from their factory back in Kalimantan, Indonesia. Jun Han shared that they only use the “Guan Yan” variety for desserts and Fresh Brew bird’s nests that are ready to eat. 

These instant bird’s nests are cooked using the traditional double boiling method before being sealed in capsules. As they’re fresh, the capsules can only last for 10 days when kept in chill storage. Hence, it’s advisable to consume it as soon as possible.

To address sceptics, BNC has a dedicated team on-site at their stores to clean the bird’s nests in front of customers. This is true for all five of its locations around Singapore. 

They also sell the regular dry bird’s nest. This used to be the company’s main revenue stream where they supplied to overseas markets including China, Hong Kong, and Taiwan. 

Jun Han shared with us that they generally sell about 150 bird’s nest bubble tea drinks (from S$8.20) on a daily basis. Some customers also go for their conveniently-packed fresh cooked bird’s nest capsules, which start from S$30.

“Our initial target market was working professionals who want to consume bird’s nests yet have no time to prepare,” Jun Han said. This is because it typically takes hours before you’re able to taste the labours of your effort.

Most bird’s nests need to be soaked in water for four to six hours before they can be steamed for another couple of hours. 

Considering that most professionals work a nine-to-five job, it’s not surprising that the demand for traditional bird’s nest has gone down. So the brand’s effort to introduce it to younger audiences might just be what’s needed to boost it again.

Broadening the industry’s horizon

It won’t be easy for Jun Han to do this alone, of course. 

A few other industry players have also been coming up with ways to modernise the delicacy. For example, NestBloom turns them into beautiful flowers that dissolve in water. 

Doing so also provides non-health-conscious bubble tea lovers with a healthier alternative. And maybe you’ll feel less guilty if you crave bubble tea from them, who knows?

But perhaps the way forward might be to have more research published on its health benefits. Many existing ones have been claims in the traditional medicine field which are valid. However, this might not sway the more modern science-based crowds.

In the long run, BNC hopes to export its bird’s nest bubble teas to other countries such as Japan, Korea, Taiwan, and Hong Kong. With how strong the bubble tea culture is in some of these regions, there’s an opportunity for BNC to fill a niche market gap.

• Learn more about Bliss Nest Capsules here.
• Read other articles we’ve written about Singaporean startups here.

Also Read: Meet the startup that powers the backbone operations of over 7K M’sian F&B outlets

Featured Image Credit: Bliss Nest Capsules