Singapore Entrepreneurs

The Business Times ran an article two days ago in its print and online editions on the microfunding scheme by the Interactive Digital Media R&D programme (hosted by the Media Development Authority of Singapore (MDA)). The article was written by Danny Tan and Joanne Chiew and is titled, “Future pillar on shaky ground at present” (May 20th, 2008). The article talked about the government initiative to spur the IDM industry and cited several of the incubators under this microfunding scheme.

If you’re thinking of starting up in the IDM field, the microfunding scheme is a good avenue at which you can start sourcing for funds. Visit the IDM Programme Office’s homepage here to find out more. The list of incubators cited in the article are: Athena Innobator, NUS Ventures, FrontEdge Capital, Thymos Capital, NTU Ventures, Azione Capital, Expara Ventures, ITE, Stream Global, PemBridge Asia. 

While the article seemed to paint a bleak IDM funding landscape, some might argue otherwise, that the numbers and percentages cited reflect instead quality plans and quality entrepreneurs who are leveraging on this government initiative. If you have any thoughts on this matter, please do discuss them here.

Additionally, as the representative of Thymos Capital cited in this article, I wish to make several clarifications. It must be made clear that my two roles at SGEntrepreneurs.com and Thymos Capital should be distinguished from each other. At SGEntrepreneurs, I try my best to ensure our neutrality as a platform for all to debate and encourage entrepreneurship in Singapore. From here forth, I shall be writing as a representative of Thymos Capital declaring a few inaccuracies cited in the article.

I wish to bring your attention to this particular line in the article: “Over at Thymos Capital, an incubator located at the National University of Singapore, Associate Professor Gwendolyn Tan feels that the onus of coming up with a workable business proposal is clearly on the shoulders of applicants.”

There are three inaccuracies present:

1) Thymos Capital is not located at the National University of Singapore. We are located at Ayer Rajah Crescent. Thymos Capital LLP is a private business incubator and has nothing to do with NUS.

2) I, Gwendolyn Tan, am not an Associate Professor with the National University of Singapore.

3) I, Gwendolyn Tan, am not even an Associate Professor by profession.

At no point during the phone interview or in any other communication did I claim any of the above. Separately, an email was sent to The Business Times to rectify these errors, but as of this moment, I have not received any response.

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