71 SG launches overseas market access programmes for Singapore startups

Singapore startup 71 SG has launched programmes to help other local startups enter China. Supported by International Enterprise (IE) Singapore, 71 SG’s Start-up Development & Learning Programme (SDL) aims to help start-ups understand the new market swiftly by connecting them to potential customers, partners and investors.

The SDL provides overseas market access, market intelligence, networking and funding opportunities for Singapore startups through a five-day tech and business workshop. The company's target audience are digital professionals and entrepreneurs seeking opportunities in technology, business and investments in China.

The 71 SG value proposition is to allow startups to focus on their core business, while it handles the rest; from lodging to supply chain to government regulations. In China, 71 SG is based in Wuhan, which has a highly skilled talent pool and a great deal of support for a startup ecosystem from the government. Its SDL workshop in Wuhan includes:

• Meetings with representatives from different government bodies and institutions to understand local laws, rules and regulations 
• Connecting with MNCs and mentors that can help market and position products overseas 
• Links with angel and venture capital (VC) investors 
• Networking with successful companies in China 
• Translation services 

"As a local startup, we understand the difficulties of launching a company not only in Singapore but other markets as well. 71 SG aims to bridge the gap between local startups and investors, partners in China to open and widen opportunities for local small and medium sized enterprises (SMEs) that are looking to branch out. In fact, we are passionate about building a conducive ecosystem of startups that act as support group for our up-and-coming companies. We look forward to exciting times ahead and many fruitful partnerships for our clients,” said Eric Kng, Director of 71 SG.

The company has had a successful track record to date. When 71 SG co-organised its first pitch day in Wuhan in November 2016, three of the six Singapore startups it helped became finalists and received letters of interest from local VC investors as well as positive media attention. One such startup is Cryowerx, which is offering a smart vending machine. Besides liaising with the investors in China, 71 SG is also helping Cryowerx apply for intellectual property (IP) rights and patents as their next step into China.

For 2017, 71 SG plans to work towards expanding into Shanghai and Beijing as well as Thailand.

Euromonitor shares four pillars to a successful entry into emerging markets

Global market research company Euromonitor International has released Succeed in Emerging Markets: Selection, Strategy and First Steps, an e-book focusing on a four pillar model to assist in entering emerging markets.

The first pillar is market, and it incorporates macroeconomic stability, consumer market size, growth and openness.

The second pillar in Euromonitor’s strategy is population and focuses on demographics. This assists in understanding how a business product or service will fit into a competitive landscape.

The third pillar focuses on access, or the reality of market entry. If a country is not easily accessible, businesses will not successfully produce goods in the market or reach consumers. Other topics discussed within the access pillar are infrastructure, Internet, partners and the retail landscape.

The final pillar reviews the business environment in a particular market, with emphasis on the regulatory environment and corruption.

According to Euromonitor’s Head of Strategic, Economic and Consumer Insight, Sarah Boumphrey, “Too many companies perform inadequate amounts of research prior to launching a product or service in a new market. This is problematic because some markets simply might not work. Utilising Euromonitor’s four pillar model before entering new markets provides a better understanding of the needs of consumers and the business environment in countries of interest.”

Euromonitor’s four pillar market entry strategy model should be tailored on a case-by-case basis based on sector-specific and business-specific factors to ensure the best information is used for each business.

Download a complimentary copy of the white paper about market entry in emerging markets here. 

HTC launches the Desire 616 dual SIM entry level smartphone

HTC, a mobile innovation and design specialist, has today unveiled the new HTC Desire 616 dual sim handset, which brings high end features to the affordable end of the spectrum. 

Source: HTC.

“Everyone is looking at an exciting, high performance phone with great value – and the HTC Desire 616 dual sim is just that,” said Jack Yang, President of HTC Corporation, South Asia. “The latest addition to our renowned HTC Desire range combines our first Octa-core processor, 8-cores of super-fast processing and premium features at a great price, offering users the best possible experience in this category.”

In addition to a 1.4 GHz Octa-core processor, a 2,000mAh removable battery, and 4GB of onboard storage (maximum 32GB), the phone also supports HTC's BlinkFeed home screen, first seen with the HTC One. BlinkFeed allows HTC users to deliver customised news and social updates direct to their home screens.

Pictures from the HTC Desire 616 dual sim’s 8 MP camera – which also takes 1080p HD videos, can be placed into a preferred sequence, then paired with music to create videos. The device also comes with a 2 MP front facing camera that records 1080p HD videos as well.

The HTC Desire 616 dual sim 4GB has a recommended retail price of S$298, and is available in dark gray and pearl white from mobile operators and major retailers in Singapore.

Compass Offices open business centre at Oberoi Centre in Dubai

Compass Offices, a serviced office provider in Asia Pacific, will open its first business centre in the UAE in July 2014. This follows news of the company expanding its network into Australia and Kazakhstan, and opening new business centres in Hong Kong. 

"With its reputation for economic stability and its booming status as a financial hub, more and more companies are looking to enter Dubai," comments Compass Offices Vice President of Business Development Alexander Passler. 

"Dubai offers plenty of opportunity for foreign businesses due to its open economy, strategic geographical location and expanding infrastructure. There is certainly a growing need for flexible office space in Dubai. That's why The Oberoi Centre, with its premium setting and high-quality fit-out, seemed the ideal location for us to kick-start our business in the Middle East." 

Located on the 30th floor of Oberoi Centre in Dubai's Burj area, Compass Offices Oberoi Centre is co-located with the Oberoi hotel and less than 25 minutes away from Dubai International Airport. The facility will provide office space as well as services aimed at helping foreign businesses establish themselves in the Dubai market.