I was interviewed after winning the MSC Malaysia Techonopreneur Pre-seed Fund.
Original article is published here.
“I dunno. I walked out feeling blur, a bit like the 1st round, but maybe even worse,” said Melinda after the second round presentation of their pre-seed application. “Their expression tells nothing!!” added her.
Two days later, they application for their proposed Coconect project was approved! After much beers and parties, I managed to get hold of both Melinda and Jenny for a quick interview.
Share with us a little background of you, your team and your project
MEL: I am passionately crazy about marketing. I have more than 10 years of combined experience in advertising, sales & marketing, and more importantly, constantly in the market dealing with customers from different levels, I strongly believe that with the right marketing at the right time will make a lot of differences in a company’s bottom-line.
MEL: However, I observed that many companies & sales professionals either don’t have the time, or the flair to do it differently. Either they seldom keep in touch with their customers after sales, or they waste precious marketing dollars sending out junk mails of no relevance to their customers, resulting not only in NO SALES, but irritation!
JEN: I have 12 years of marketing experience across different industries – fashion, IT and printing. I have worked with brand names like Nokia, Fujitsu, Creative and Xerox (like Mel mentioned). I found my passion in IT when I landed a job in marketing for Nokia communicators and then Fujitsu computing products. When I was exposed to VDP (variable data printing) technology and 1-to-1 marketing during my service in Xerox, I have always been a believer. I believe that marketing can always be more effective and life can always be easier – with the use of technology.
JEN: I am currently completing MSc. in Strategic Business IT and I found my knowledge gained from studying very helpful when we were preparing the proposal for Mdec. My course equips me with the knowledge to solve business problems with IT. That’s why Mel and I make a great team: she provided me with the problem and target; I came up with an IT solution! My tagline is: I’m a geek but I can’t program.
Who should apply for a grant?
MEL: People with vision, passion & commitment to take their technology related idea from the drawing board to a successful reality- no matter what it takes. (And I would add, some business sense will be a pre-requisite)
JEN: Anyone with an innovative idea, then figure out a way to make it work and grow in the real world scenario. Innovative means new and you have to find a niche where your business can serve. Niche doesn’t have to be small, it can be a market where there are needs but not yet served. You don’t have to be a tech super genius (as we are both not) and you don’t even have to be a super businessman (you don’t need this grant if you are). However, you need to have a good balance of tech and business senses.
JEN: On a personal level, passion (about your idea) and perseverance (to see it from idea to execution) are very important. If you think I just decribed you, go for it! Even if you don’t think your idea is that great, go for it anyway! Never hurts to try.
How do you think the fund can help you?
MEL: For a start, it allows me to start the business on a minimum debts basis, which is a huge relief, as I have at least a window of timeframe from developing the business to getting our first sale with fewer worries about paying off debts. With the funding, we have the resources to put together a team of people to help us, and developing or acquiring the necessary technology to add the magic element to the business idea!
JEN: We have a great idea but no capital to execute (or at least me). The thought of borrowing from banks is not so appealing for me. This helps people like us to materialise great ideas. I think it’s wonderful.
What is important when applying?
MEL: A tough spirit! LOL. I would say, first & foremost, a never wavering PASSION on what you believe in, and choose to do. Without that, you won’t be able to go far as many, many obstacles will be thrown to you in the process. The moment you question yourself, why am I doing this, and you can’t find an answer that you really resonate with, you are better off doing something else.
MEL: You have to at least do your homework on your idea viability, whether there’s a market for it, basically you need to have your draft business plan on paper, way before you even think of applying for the fund.
MEL: I didn’t go for the Mdec workshop, but I did schedule a one on one advisory session with the one of the Assessment Manager- Ms. Rozie. She was very helpful, as she answers my queries on what would the board be looking for in order for me to sell our idea; one of it was: What makes your business so different from the others? (Note: It can be the same type of business, but what makes your business stands out from the competitors? What is it that your competitors doesn’t do, and that you do- i.e.; fill in a market gap)
JEN: I agree with Mel – a tough spirit. Also, like I mentioned before – passion and perseverance are very important as it’s not going to be easy. The proposal form will guide you through what you need to submit. Allow ample time for research and preparation. I still remember that Mel wanted to do it overnight xD as she misunderstood the deadline. I’m very used to impossible deadlines but this was really impossible. Allow at least a month of non-stop work for proper research and idea formulation, the more time the better.
Share with us your the Getting-Ready part for your interviews by MDeC.
JEN: The powerpoint preparation is crucial for the success of the pitch. We were allowed limited time to present. It has to be precise and concise. No repetition, reiteration or filling in with irrelevant information. Make it exciting, interesting, impactful and have fun doing it! Don’t crap in your pants when you were thrown challenging questions by the panel…because they will!
JEN: Stay calm and answer constructively. Most importantly, your idea has to be an innovation and you have the business sense to carry it through from plan to commercialisation and a business expansion plan. They look for that. Presentation skills and confidence are very important during the pitch. Being cute helps too xD (not really). Also, shake hands with the panel.
MEL: I put on makeup. LOL . 1st, I jumped around in joy when I received the notification that our proposal passed the 1st evaluation round. Preparing the proposal was a vital and very beneficial step for us. During this process, we further crystallized our idea, supported by research and facts, talked to many people, figure out what will work, what won’t, and the steps that we will take to prepare for the business to launch.
MEL: My personal opinion- never treat the proposal lightly (as we nearly did) thinking that your idea was already good. Doing the proposal makes your idea ROCK SOLID, and you have almost everything internalized that if anyone wakes you up in the middle of the night, you will be able to ramble off your ideas just like that.
MEL: A group that lent us tremendous support is Friends@1.com.my, founded by Pin of 1.com.my. From the moment we are preparing the proposal, to preparing on what to expect from the interview or pitching, we have people (whom we still have yet to meet face to face) replying our questions (and there’s a lot of them!) with much patience and enthusiasm.
MEL: And of course, for the actual pitching, it is very necessary to have many rounds of dry run (rehearsal). The 1st round of pitching is a make or break, so never think you can just ‘wing it’ without practising in delivering your points with a punch!
Any advice for those who wish to apply?
MEL: Do this with all your heart, give it 110% of what you got, and get ready for a very exciting journey ahead. Good luck!
JEN: Go for it and don’t look back! Write to us if you need any advice or encouragement. Our website is always open (99.99% uptime) or whatever our host claims 
Good luck!
Enough for lengthy text, find out more about the cross-country celebration from Malaysia to Holland!!
First, celebrated with pizza and beer
Then, cocktails…
Followed by a boat ride along the main canal in Utrecht
Feasted in a popular Indian restaurant.
About The Coconect Project
An online relationship marketing agency specialising in 1-to-1 marketing. Our 1st step is to introduce the ‘romancing’ of business relationship- Adding Human Touch back to Business Relationship, to our customers. Part of a relationship-building strategy that will help our customers transform their services /company into a valuable resource is to connect frequently with their customers. It’s possible to combine e-mail, direct mail, phone contact and face-to-face communication to keep prospects moving through their sales cycle without burning out on the message. The first module of the business that we will be launching soon is personalized greeting cards (VDP -variable data printing), supported by personalized gifts.
Our customers can now ‘Set & forget’. We offer online service that manages contacts, personalized, prints and mails postcards and greeting cards. They can order a year physical greeting cards upfront, and not worry about missing another client’s important event again. We take away yucky stamp licking, time spent running around, expensive designers, printing hundreds of address labels, minimum quantity hassles, and let our customers enjoy these: Each card personalized, easy, memorable, cost effective, and encourage repeat sales from their customers. And if the occasion calls for it, they can also send impactful gifts from our online catalogue, and have it, wrapped, personalized and delivered to their clients.
