Comments on: Need for Venture Capital

by: Roger D

Thu, 23 Aug 2007 01:06:58 +0000

We have stopped looking for VCs since then, maybe if we have look around for more we will find a capitalist that share with our vision.

Some look for reputation and track record before they take you seriously. Funny it is just like a bank that lends money. If you apply for SME loan, the requirement for some is that you have to have the SME business already. So how can you start a small to medium business if they don’t lend you to start one? chicken and egg thing again.

by: wyuwp

Wed, 22 Aug 2007 01:59:44 +0000

But when an idea hatches and a proof of concept is available who will provide funding? Are the VCs here receptive? As you said, they tend to ask for too much control right?

by: Roger D

Wed, 22 Aug 2007 01:48:47 +0000

private industry should spearhead this, NGO might work but the way I see it there should be profits from making a groundbreaking technology and initiatives.

Pro Bono is good if you already have gained cash and no where to put it.

Joint ventures skunkworks of local IT companies forgot the funding from the foreigners at this moment they will just get your ideas.

The first stage is always the easiest, copy then improve it. Get your cash cow, milk them dry ahead before the market wakes up. This is just to get your cash to fund your real genius idea.

After getting the needed funding, increase your talents salary to the level that any poaching with your talents will be hard.

You can brag or you can work silently, this will depend on the idea you have and the capability to roll it very fast.

Of course the grassroots, the academe (which I think is being addressed now)

by: wyuwp

Sun, 19 Aug 2007 05:53:59 +0000

What should the industry do to remedy this situation?

by: Roger D

Thu, 16 Aug 2007 03:25:29 +0000

I have co-founded several IT companies, this is my fourth one and you definitely right that funding is almost nil in this country. We tried before getting from private companies but they always want the controlling lion’s share or even 100% ownership. We got burned by this, while some VC we talked to was hesitant with our ideas. You will be surprised that some local VC how they will value your great ideas. Doon pa lang, they will grill you already.

I have a good friend, sharp mind and have an excellent idea but until now, he can’t find funding.

What make things worst is the Filipino mentality, corporations, businessmen and consumers alike. They rather support foreign made products than support local talents. They should be the one that should get this roadshow.

We are now catering outside market and not the Philippines, got a deal, but I still get a bit frustrated every time I see foreign companies that looks like our competition and get substantial amount of funding to roll out rapidly. While here we are growing organically.

by: wyuwp

Wed, 27 Jun 2007 08:21:47 +0000

Thanks for the link. Maybe if Narra did roadshows on major academic institutions often. A lot of ideas are born everyday but most people just don’t pursue them because they feel their ideas won’t see the light of day.

Btw, does Narra fund start-up ventures that are in pre-operating mode and no profitability yet?

by: Brain Gain Network

Wed, 27 Jun 2007 06:16:06 +0000

Check out Narra Venture Capital - www.narravc.com