"They're just a couple founders with laptops."
Hmm.. NUS has plenty of people with laptops. (Surfing FB, playing games, emailing, reading notes... creating value??)
"There are two ways to do that: have rules preventing them from leaving, or fund them at the point in their life when they naturally take root. The first approach is a mistake, because it becomes a filter for selecting bad startups. If your terms force startups to do things they don't want to, only the desperate ones will take your money."
Okie, slightly tougher. But does it make sense to really uproot the whole team to a place like SV? (Not very sure about this, as I want to start by solving the problems near me first, before going global.)
"For the price of a football stadium, any town that was decent to live in could make itself one of the biggest startup hubs in the world."
Starting to get interesting.. There's already a lot of money floating around in Singapore from the various funds.
Okie, that last part is the selection process for choosing the startups. Do we have a big enough community of angel investors in Singapore who have the experience to be mentors? That's an answer that I myself would like to find out.
Hmm, what is the net effect on the economy if we sacrificed 1 IR for 1 Silicon Valley experiment?
Of course, Paul makes it sound easy. I'm not sure how such an experiment would be conducted. However, I am quite sure that given the amount of bureaucracy, controls and checks over public money, it would be quite difficult to do.
In fact, I don't even think that there are that many technically inclined people in Singapore who want to start their own businesses. Most want to work for MNCs..
Okie, I may be wrong with this post. Hope that people will give some other points.. Really hope that Singapore becomes known for innovative startups. I don't think that we are any less capable, so there must be some obvious reasons why we have the technical training but not the culture.
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