Thursday, August 12, 2010

ENTREPRENEURIAL INSIGHTS FROM THE CORRIDOR


It is gratifying to know that a local start-up, a venture by four friends in 2005 while still studying at the NUS, by the name of tenCube, is being acquired by software giant McAfee for a price tag of close to S$15 million.

The company has created a proprietary technology known as 'WaveSecure' that lets mobile phone users locate, lock, back up & wipe the data from their phones in case they fall into wrong hands.

tenCube's CEO, Darius Cheong talks about the people who inspired him to be an entrepreneur:

1) His father's attitude of inquiry: [his father ran a printing company in Fuzhou, China, during the 1980's; now his siblings have taken over;]

"It was curiosity about how things work & can be improved. But it can't just be an intellectual pursuit as it needs to be profitable too."

"I also learnt that I should be always thinking about the business reasons behind things."

2) Stalwarts in the industry:

Bill Gates (Microsoft), Sim Wong Hoo (Creative Technology), Ong Peng Tsin (Encentuate);

3) His quirky neighbour:

The quirky neighbour in Silicon Valley, who turned out to be one of three of a business that eBay bought for US$50 million, claimed no special attributes, except being stubborn & not giving up.

"They only difference is that they (referring to those entrepreneurs in Silicon Valley) don't give up. For them, it's OK to fail & try again."

Darius Cheong's final parting words to all aspiring entrepreneurs:

"Mai kia si (in local dialect Hokkien for "do not be afraid to die"). Just do it! A lot of people can survive with a lot less. We can afford to take more risks."

[Source: 'Digital Life' supplement of yesterday's issue of the 'Straits Times';]

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