Week 3 of Venture Building

Another week of struggles has gone by, it certainly feels like being thrown into a vast ocean and not being able to tread water. It seems like my team has fallen short of our purpose and objectives. Well, that’s what happens when we don’t establish what our skills and capabilities are before sailing into uncharted waters. There are certainly some important issues to consider. For instance, do we have our compasses calibrated? Do we have a map or even know where we are going? It also appears that we are currently trying to forge ahead without patching up the holes that are leaking water into our vessel. This feels like a major predicament that needs to be rectified promptly.

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Insights

This week we attended a seminar on financial and corporate fraud. The topics discussed primed our minds to think ahead and also brought some awareness of potential threats that may appear along the journey of venture star-ups. The most intriguing portion of the seminar was during the questions and sharing session led by Mr. Edward F., Dr. Lin, and Mr. Edward T. They shared some of their past experiences and encounters with corruption, IP infringements, litigation tactics, and attempts to cripple their businesses by external parties.
I suppose the lesson to be learned here sheds light on the notion that while most of us here in Singapore are relatively safe from morally corrupt and insidious entities, we have to shift our ways of thinking to adopt an astute and vigilant stance. Especially if we are working on developing disruptive technologies that have the potential to rock the boat in the technology ecosystem.