Presentation to Commonwealth Secretariat
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Transcript of Presentation to Commonwealth Secretariat
Beginnings
• RSAF – Pilot
• Advertising – Account Director
• MediaCorpTV – Assistant Vice President, Airtime
• TVMobile – Director, Biz. & Prd. Dev.
• FairVision – Vice President, Biz. Dev.
• Sentosa – Marketing Director
• Singapore Post – Chief Marketing Officer
• Commonwealth Secretariat – CFTC Expert
In Between Golf, Mountain Biking and Travelling
• Completing MBA, U21 Global• Practicing Mgt. Consultant (PMC)• Inst. Of Mgt. Consultants (MIMC)• Youth Business Singapore (Mentor)• Singapore Institute of Dir. (SIDM)• Cornell-Nanyang Inst. of Hospitality Mgt. (Guest Speaker)• Sri Lankan Maid to My Children
Youth Business Singapore
YBS Entrepreneur
YBS in Action
Does The World Truly Appreciate The Benefits …
Youth EntrepreneurshipYouth Enterprise
Youth Employment
What Does Youth Entrepreneurship Enterprise What Does Youth Entrepreneurship Enterprise and Employment Really Build? and Employment Really Build?
• Building local economyBuilding local economy• Ensuring local jobsEnsuring local jobs• Protecting home-grown character and prosperityProtecting home-grown character and prosperity• Saving time, money and local environmentSaving time, money and local environment• Ensuring local product diversityEnsuring local product diversity• Protecting local servicesProtecting local services
Youth Business is Reallyabout Country Investment
Youth EnterprisesYouth EnterprisesAre The Key to Building Are The Key to Building
a Better Worlda Better World
Investing in Youth Entrepreneurship & EnterpriseInvesting in Youth Entrepreneurship & EnterpriseWhy and How?Why and How?
A Singapore PerspectiveA Singapore Perspective
If I said the CountryIf I said the CountryAustraliaAustralia
What would be theWhat would be theFirst Picture in Your Head?First Picture in Your Head?
Now if I asked you to Think of SydneyNow if I asked you to Think of Sydney
What would that be the First Picture in Your Mind?What would that be the First Picture in Your Mind?
Physically bothPhysically both
SydneySydney and Australia areand Australia are
in the Same Geographyin the Same Geography
But in your Mind they areBut in your Mind they are
in Two Different Places!in Two Different Places!
The Point I am making is thatThe Point I am making is that
there is a Far Greater Connect there is a Far Greater Connect
between Cities than Countriesbetween Cities than Countries
And the Youth are Talking!And the Youth are Talking!
London – Paris – New YorkLondon – Paris – New York
Seoul – Beijing – TokyoSeoul – Beijing – Tokyo
Port Vila – Honiara -- SuvaPort Vila – Honiara -- Suva
There is far more Connectivity Between There is far more Connectivity Between the Youth than is Realizedthe Youth than is Realized
– World Citizens are busy. They want things easy to World Citizens are busy. They want things easy to buy and understandbuy and understand
– Increasingly people want convenience and speed of operationIncreasingly people want convenience and speed of operation– Citizens are looking for healthy foods and products Citizens are looking for healthy foods and products
to reduce ageing to reduce ageing– People today are somewhat more aware of environmental issuesPeople today are somewhat more aware of environmental issues– People do extensive research and sometimes know more about the People do extensive research and sometimes know more about the
products than their retailerproducts than their retailer– This time around people are spending less since the This time around people are spending less since the
global financial crises global financial crises
The New Generation The New Generation is about Being Right Here and Right Nowis about Being Right Here and Right Now
SPRING Singapore is the enterprise development agency responsible for helping Singapore enterprises grow. We work with partners to help enterprises in financing, capability and management development, technology and innovation, and accessing new markets. As the national
standards and accreditation body, SPRING develops and promotes an internationally-recognised standards and quality assurance infrastructure that builds trust in Singapore enterprises, products and services, thereby enabling their global competitiveness and facilitating global trade.
The Rebirth of SpringThe Rebirth of Spring
HOW WE DO IT
Finance RequirementsFinance RequirementsFor Youth Entrepreneurship For Youth Entrepreneurship
HOW WE DO IT
Engaging Youth WithEngaging Youth WithExisting Enterprise & IndustryExisting Enterprise & Industry
HOW WE DO IT
Ensuring Youth Enterprise Meets The New WorldEnsuring Youth Enterprise Meets The New World
Establishing The Youth Connection EarlyEstablishing The Youth Connection Early
3 Young Entrepreneurs 3 Young Entrepreneurs 1.5 Million Singapore Dollars1.5 Million Singapore Dollars
Youth Business Strategy Youth Business Strategy Requires SupportRequires Support
The Sequence of Shifts the Movement The Sequence of Shifts the Movement and Program must Evolveand Program must Evolve
Youth BusinessYouth Businessa Jump Starta Jump Start
Youth BusinessYouth Businessas a Tangible as a Tangible Business ResourceBusiness ResourceIn each CityIn each City
Youth BusinessYouth BusinessOperating on aOperating on aConnectiveConnectiveNetwork Network City-CityCity-City
174 Start-Ups 174 Start-Ups Receive Seed Funding HelpReceive Seed Funding Help
THE Government last year THE Government last year committed over $10 million committed over $10 million to help invest in more to help invest in more than 20 start-ups under Spring Singapore's Start-up Enterprise Development than 20 start-ups under Spring Singapore's Start-up Enterprise Development Scheme (Seeds).Scheme (Seeds).
That brings to That brings to 174 the total number 174 the total number of firms that have received funding support of firms that have received funding support through Seeds since it was introduced in 2001.through Seeds since it was introduced in 2001.
So far, more than half of the So far, more than half of the $110 million set aside for Seeds $110 million set aside for Seeds has been allocated has been allocated to local start-ups, as part of efforts to groom globally competitive companies to local start-ups, as part of efforts to groom globally competitive companies by providing vital early funding.by providing vital early funding.
According to enterprise development agency Spring Singapore, 20 Seeds start-ups According to enterprise development agency Spring Singapore, 20 Seeds start-ups have since been able to generate over $1 million a year in revenue.have since been able to generate over $1 million a year in revenue.
If Youth Business is If Youth Business is to be Successfulto be Successful
Governments & NGO’s RoleGovernments & NGO’s RoleNeed to promote and develop Youth Need to promote and develop Youth
Business as sustainable enterprises that Business as sustainable enterprises that address Social and Economic needs address Social and Economic needs
through the principle of self and mutual help through the principle of self and mutual help so as to foster a more resilient societyso as to foster a more resilient society
Strategic IntentStrategic IntentElevate & Establish Youth Business by Elevate & Establish Youth Business by
dominating society mindshare dominating society mindshare and perceptionsand perceptions
Thank You
TheThe SinSingapore Statistics Favored Youth Start-upsgapore Statistics Favored Youth Start-ups
• GDP up 10.6% in 3Q 2010 GDP up 10.6% in 3Q 2010
• CPI up 3.5% in Oct 2010 CPI up 3.5% in Oct 2010
• Total Trade up 15.0% in Oct 2010 Total Trade up 15.0% in Oct 2010
• Index of Industrial Production up 31.0% in Oct 2010 Index of Industrial Production up 31.0% in Oct 2010
• Retail Sales up 0.3% in Sep 2010 Retail Sales up 0.3% in Sep 2010
• Total Population was 5.08 million in Jun 2010 Total Population was 5.08 million in Jun 2010
• Employment was 3.08 million in Sep 2010 Employment was 3.08 million in Sep 2010
• Unemployment Rate (SA) was 2.1% in Sep 2010Unemployment Rate (SA) was 2.1% in Sep 2010
Youth Business is Youth Business is a Country Investmenta Country Investment
WHY WE DO IT
The Organizational DifferenceThe Organizational Differencethe Youth Business Programs the Youth Business Programs
Must PreserveMust Preserve
Youth BusinessYouth Business
Regular BusinessRegular Business
In youth business the kids grow up andIn youth business the kids grow up andleave but the fundamentals prevail. leave but the fundamentals prevail.
In all cases the structure must support In all cases the structure must support the original the original goals and valuesgoals and values
The Audiences The Audiences the Program Must Impactthe Program Must Impact
The Timing is Ripe for The Timing is Ripe for Youth Business Now!Youth Business Now!
Pre-financial crises corporations were all about:Pre-financial crises corporations were all about:
– Consolidating for bigger market sharesConsolidating for bigger market shares
– Commanding bigger geographic footprintsCommanding bigger geographic footprints
– They were mostly concerted on diversification:They were mostly concerted on diversification:
– Short-term gainsShort-term gains
HOW WE DO IT
The Timing is Ripe for The Timing is Ripe for Youth Business Now!Youth Business Now!
Post-crises it is now about:Post-crises it is now about:
– Having braved the worstHaving braved the worst
– Appreciation for more accountability and less complicationAppreciation for more accountability and less complication
– Having less time now consumers never want to be treated in Having less time now consumers never want to be treated in the same waythe same way
– Public consensus is in search of a fair deal and sustainabilityPublic consensus is in search of a fair deal and sustainability
– Public questions corporate social missionsPublic questions corporate social missions
HOW WE DO IT
Investment in Investment in Youth Businesses is RelevantYouth Businesses is Relevant
Keeping the Money LocalKeeping the Money Local
Paving the Way forPaving the Way for
Youth Enterprise Entrepreneurship EmploymentYouth Enterprise Entrepreneurship Employment
HOW WE DO IT
Spring SingaporeSpring Singapore
• Financing Schemes Financing Schemes – Business Angel Funds (BAF)Business Angel Funds (BAF)– SPRING Startup Enterprise Development Scheme (SPRING SEEDS) SPRING Startup Enterprise Development Scheme (SPRING SEEDS) – Technology Enterprise Commercialisation Scheme (TECS) Technology Enterprise Commercialisation Scheme (TECS) – Young Entrepreneurs Scheme for Start-ups (YES! Start-ups)Young Entrepreneurs Scheme for Start-ups (YES! Start-ups)
http://www.spring.gov.sg/Entrepreneurship/FS/FS/Pages/young-entrepreneurs-scheme-start-ups.aspxhttp://www.spring.gov.sg/Entrepreneurship/FS/FS/Pages/young-entrepreneurs-scheme-start-ups.aspx
Global TreGlobal Trends are Impacting nds are Impacting NeedNeeds and Wantss and Wants
Dictating what and where will be bought:Dictating what and where will be bought:– RFIDs continue to increase in retail applicationRFIDs continue to increase in retail application
– Customer Centricity reemphasizes ‘made for me products’ Customer Centricity reemphasizes ‘made for me products’ but also increasing merging of sectors (books + cafe)but also increasing merging of sectors (books + cafe)
– World population will be increasingly represented by World population will be increasingly represented by ageing Baby Boomers and Generation Yageing Baby Boomers and Generation Y
The presentation to follow illustratesThe presentation to follow illustratesWhy & HowWhy & How
Singapore Invests in YouthSingapore Invests in Youth
Singapore Population is AgeingSingapore Population is Ageing
Resident Population Resident Population Continues to GrowContinues to Grow
Old Age Support Ratio Old Age Support Ratio is Reducingis Reducing
Life Expectancy at BirthLife Expectancy at Birthis Increasingis Increasing
WHY WE DO IT
LFPR Will Continue to RiseLFPR Will Continue to Rise(Labor Force Participation Rate)(Labor Force Participation Rate)
Age PyramidAge Pyramid Labor Force Participation RateLabor Force Participation Rate
http://www.singstat.gov.sg/stats/visualiser/population/population.htmlhttp://www.singstat.gov.sg/stats/visualiser/population/population.html
WHY WE DO IT
Singapore Like Most CitiesSingapore Like Most Cities
WHY WE DO IT
““Keep the Money Local” Keep the Money Local” AttitudeAttitude
The Fundamental Attitudinal ChangeThe Fundamental Attitudinal Change
We Need to AchieveWe Need to Achieve
mindset
mind-set
mentality
outlook
HOW WE DO IT
““Keep the Money Local” AttituKeep the Money Local” Attitudede
If we imagine the any economy to be a bucket with If we imagine the any economy to be a bucket with money pouring in from various sectors money pouring in from various sectors
Then it makes good sense for us:Then it makes good sense for us:
– To make sure that we minimize leaks outside our economyTo make sure that we minimize leaks outside our economy– To ensure that within this economy the money changes hands To ensure that within this economy the money changes hands
as many times as possibleas many times as possible
Encouraging local expenditure provides jobs Encouraging local expenditure provides jobs and income for Singaporeand income for Singapore
Ensuring a secure longer term future for local economiesEnsuring a secure longer term future for local economies
HOW WE DO IT
An Introduction
Maurice Williams