Category Archives: Singapore Entrepreneur

Singapore Entrepreneur

Wylie Wee, the Co-Founder of Player Holdings Pte Ltd! Sports Events Planning and Management, Sports Merchandising, and Sports Leadership Training.

The Start-Up Entrepreneur Series campaign! Wylie Wee, the Co-Founder of Player Holdings Pte Ltd!
Player Holdings

player holdings(a) Getting to know The Start-Up Entrepreneur

1. Tell us more about yourself – Who are you, what do you do, what are your qualifications (If any) and what have made you into the successful entrepreneur that you are today?

My name is Wylie Wee and I am the Co-Founder of Player Holdings Pte Ltd, a company that uses sports as a universal playing field to create value to individuals and society. Our company operates through 3 core businesses in the areas of Sports Events Planning and Management, Sports Merchandising, and Sports Leadership Training.

I am a SIM Global Education Scholar in Academic Excellence and Leadership and I graduated from Singapore Institute of Management with the highest honor of Degree with Distinction in Bachelor of Business Management. Apart from academic studies, I am also a Professional Netball Coach and an accredited Certified Motivational Coach with the Institute of Motivational Coaching.

I own a growing startup business, but I am still just a hustler who is working late into the nights and over the precious weekends to get more things into place, so I wouldn’t really call myself a “successful” entrepreneur. As for what made me who I am today, it has got to be one word – Courage.

 

2. Why did you casino pa natet get started on this path towards building your own business?

Sports has always been my passion, my direction, and sometimes even my escape. Entrepreneurship is a dream career that I want to see myself venture into. So I thought to myself, since Sports has given me so much, why not use Sports to make a difference in people’s life. Nothing beats pursuing a dream with something you are truly passionate about and can do best in. And this was how my entrepreneurship journey started.

 

Player Holding3. Was there any inspiration or anyone who inspired you to pursue your dream to become an entrepreneur today?

My Mum has always been my source of inspiration and motivation since young. She was the first person who taught me the meaning of being accountable and responsible for all of our life choices. As a young kindergarten kid fascinated by the novel thought of standing on stage to take part in a story-telling competition, I raised my little hands with excitement to express interest in taking part. When the tiring (and boring) practice routines set in, I was turned off by the fact that I need to sacrifice my playtime for practice. It was that point of time, my Mum lectured me harshly when I told her I did not want to take part anymore, she told me this, “To be a part of this competition was your choice from the beginning, no one forced you to make this choice. For every choice you make, give nothing less than your best. And that is how things should be done.”

I did not truly understand what that meant at that point of time, but now it all makes sense. Entrepreneurship is my choice and during those moments I felt like giving up, I would remind myself of what my Mum taught me.

 

4. In your experience, what are the 3 Winning Traits that Entrepreneurs should possess when they start their business?

Courage. Passion. Purpose.

To be continued… The Start-up Entrepreneur Part 2

Invoice Discounting Startup, ApexPeak – Raises 2.3M SGD in Seed Round!

Invoice Discounting startup

Invoice Discounting startup, ApexPeak, Raises 2.3M SGD in Seed Round

After only 7 months of offering invoice discounting services in Singapore and South Africa, ApexPeak has secured $2.3M SGD in their combined seed and convertible note round.

In a nutshell, invoice discounting is the sale of a business’ invoices to a third party. The third party is charged with processing the invoices, and the business lending the invoices is able to receive funds earlier based on the expected payments on the invoices. While this is nothing new, ApexPeak has managed to reinvent this financial instrument to be ready for the digital age.

To date, ApexPeak has already turned a neat profit with a zero default rate on funds dispersed. This type of performance in such a short time is unheard of in the startup or financial world.

“Robust vetting and process combined with automating standardised tasks and good risk management have contributed in making ApexPeak successful,” says Gakim Solomons, CEO and Co-founder of ApexPeak.”

Unlike traditional financing options, ApexPeak helps small and mid-sized enterprises (SMEs) turn invoices into cash in as little as 5 days. SMEs gain fast and affordable access to working capital. Up to 80% of the invoice amount is advanced upfront; the remaining 20% is dispersed when the invoice is processed with a 2% discount fee levied. Finally, insurance companies cover the counter party risk of these invoices so it is essentially risk-free.

While it sounds simple, there is also little to no competition in this space because it requires the right combination of technology, talent, experience and opportunity to create ApexPeak. After 10 years in private equity, Solomons linked up with college friend and serial technopreneur, John Fearon, to utilize their natural synergy in coming up with a financial technology business.

invoice discountingAfter an initial unsuccessful dabble in peer-to-peer foreign exchange, it occurred to them that the SMEs loans market is under-served. SMEs often suffer cash flow problems and without liquidity, many have been forced to shut down like Silicon-Valley based Singaporean startup, Chalkboard. Traditional banks require extensive paperwork and lengthy periods to evaluate risk while SME funds dry up.

Solomons and Fearon were particularly interested in the growing SME loans markets of Africa and South East Asia. ApexPeak managed to obtain an exemption from the Regulatory Authorities in Singapore and South Africa in order to operate its business.

With the business idea and legal documents ready, it was a whirlwind couple of months for the business. Joining the Google-backed accelerator in South Africa, 88mph, ApexPeak built a simple and elegant website for invoice discounting to go digital. The risk-free nature of the business and ease of use of the website, allowed Solomons and Fearon to raise $800k SGD even before Demo Day.

In fact, after that, business was picking up so fast strictly through the word-of-mouth that Solomons avoided all forms of marketing to ensure they will not be overwhelmed. Within 4 months of operation, ApexPeak had broken even and was looking for $2M SGD to expand faster.

invoice discountingJust like its SME customers, ApexPeak could not wait for the typical 3 to 6 month wait for funding from traditional sources. In Singapore, with Fearon’s extensive contacts, risk-seeking angel investors were given a chance to take a stake in the convertible round. In a mere 3 months, the business surpassed its goal to reach $2.3M SGD, making one of the biggest pre-Series A rounds in the region.

“A low interest rate environment in Asia has resulted in many investors looking for good risk adjusted returns. ApexPeak has been able to raise money from investors by offering investors the opportunity to obtain above average yields with no downside really,” says Solomons.

Not resting on their laurels, ApexPeak will continue to move at break-neck speed. Given the capital-intensive nature of the business, ApexPeak is looking at raising more money in order to help more SMEs in Asia and South East Asia grow their businesses.

Lean Startup Machine returns to Singapore – June 7-9, 2013!

Lean Startup Machine is Returning to Singapore – June 7-9, 2013!

http://leanstartupmachine.com/events/singapore-june-7-9/

Date: Friday, June 7, 2013 at 6:00 PM – Sunday, June 9, 2013 at 8:00 PM (SGT)

Location: 113 Somerset Rd., Singapore, 238165

 

Lean Startup – Fail Fast, Succeed FASTER.

Lean Startup Machine

Lean Startup Machine is an intensive three-day workshop which teaches entrepreneurs and innovators how to build products with huge market potential. It is a metrics-driven startup competition where teams learn to identify the key risks in their business model through hands-on mentorship and our framework of tools.


Event Schedule…

Friday you will show up, eat, meet mentors and network with fellow attendees. Those who come as individuals will pitch a problem they want to solve, the top problems will be crowdsourced and teams will be formed. At around 9pm you will start constructing your first experiment designed to test, empirically, your problem hypothesis and customer hypothesis. Teams will break for the night when they have a developed a provable hypothesis and have practiced their customer development skills with a mentor.

Saturday those assumptions will be tested with customers. Most of your assumptions will likely be WRONG, so you will iterate rapidly to validate a new set of assumptions. You will go through several Minimum Viable Products (MVPs), escalating from Exploration, to Pitch, to Concierge.

Finally, Sunday afternoon you will present your learnings to the other teams and to a judging panel. This is not just a learning exercise, you will actually be competing with other teams to win additional mentorship and support. You will leave the workshop with…

*The ability to run any idea through the Validation Board, and run experiments to test if your assumptions are actually valid.

*The ability to end ‘endless’ team “discussions” with actionable tests rather than debates.

*The ability to determine if your idea is a scale-able startup or a hobby.

 

Lean-Startup-Machine-Singapore
Photo Credit: http://www.rikvin.com/blog/lsm-singapore-success/


Who’s this event for?

Any startup team that does not have Product/Market Fit, or any aspiring founder, innovator, or early startup employee that wants to learn Lean Startup methodologies from the ground up.

Executives, leaders and innovators in large, medium, and small businesses looking to innovate or create the next successful product or service.  Those who are inexperienced or experienced in Lean along with creatives, salespersons, marketers and decision makers can all be coached in the methodologies Lean Startup. This is an intensive educational workshop where you will learn the tools to develop any new business concept – NOT a hackathon.

Got an idea of your own? Great. You’ll have 50 seconds to give your elevator pitch at the kickoff. After voting, if your idea gets selected you will be able to form a team and start working. We strongly encourage everyone who comes to LSM to start fresh with a brand new concept.

No co-founders? No problem. You’ll meet many talented and smart people and have the opportunity to hear their new startup ideas.

We strongly encourage everyone who comes to LSM to start with a brand new concept. In the past, we have found that it is too difficult for participants to join a team that already possesses domain knowledge around an existing project.

If you plan to work on an existing project*, bring at least one co-founder with you to the event. If you have existing co-founders and none of them attend, you’ll have to work on a new startup idea. But don’t worry, you’ll still learn valuable skills that you can apply to your own business.

*An existing project is defined as one that already has mockups, prototypes or code associated with it. If that’s the case, you cannot recruit others to join you.

Space is limited – Tickets are now on sale now and going FAST!

http://leansg.eventbrite.com

 

Questions?

Email [email protected]

Follow us and tweet @LeanSGP

Perspectives of Startup Hire

A good idea is worth nothing if there are no talents that come together to build a good product/platform and drive the business thereafter. Like all other business, Startups which are at their early stage need to grow their traction, revenue and scale their business further. The need for Startup hire often come for the main purpose of growth, increasing resources as well as filling up gaps within the existing team. Continue reading Perspectives of Startup Hire