Dec 02 2008
Application For MDeC’s Pre-Seed Funding
Today I attended the “Ideas Generation Workshop” organized in the MIRC KL SME ICT Summit 2008. All participants should agree that we have been so blessed by the sharing of the speaker David Lo from sixbrands.com, who has a wealth of experience in business, branding and marketing.
I was in the workshop to learn about how to generate and evaluates new business ideas. Actually I already have some ideas myself, some even few years old! I want to know how to choose the best idea to work on, or as the speaker said, which idea to sell my house on!
At the end of session, we were told to submit a one-page summary of our business idea by next week in order to apply to MDeC’s (the organization behind MSC Malaysia) pre-seed fund for up to RM150,000 in order to further develop. Never did I notice that the workshop was aimed for the fund applicants.
But now I’m seriously considering applying for the fund. It’s a grant, free money! The money will help in bootstrapping the new business and shorten the time to market. Also, I will go through some process and learn things that I never learned. In fact, I will be paid to learn!
Perhaps most importantly, this will instill discipline in me to act on my business idea now, rather than letting it collect dust for another few years. Since it is a conditional grant, I must achieve certain project milestones and develop a prototype within certain time period, failing which I will need to pay back!
So now, which idea should I submit? Well, this is not play play and I think I will submit the best one. Wish me luck 
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Hi Ricky,
Drop me a note if you need any help on your application. Would be glad to be able to help.
Avi
Hi Ricky,
I am glad that you found the session usefull and is driven to start building your dream
.. this is awesome! … its a strat to a long and exciting journey 
.. believe me I know 
..
have fun!!!
Yes thanks Roslan
Dear Avi, thanks
How can you help?
@ Ricky : as a start I can send you a copy of our pre seed proposal for you to have a look. I suppose the formats have quite a few other things now, but it could still be useful.
@ Roslan: Hello.. long time no see. How are you?
@ Avi: Thanks so much
Can email me ricky [at] rickysoo.com. It’s so kind of you to help others to go through what you have gone through. Businesses should be generous like you to help one another so that there will be more established ICT companies form Malaysia.
@ Roslan and Avi: Sorry but I’m so new on this. I have yet to decide to apply or not.
I understand that applicants are to go through certain process and after approval, up to one year to build a prototype. But the market is real cruel out there. It does not wait for our ideas to develop. The business must exist now or be left behind one year later. So why should I apply if I can launch the business myself in just one month? (apart from reasons for money, learning and discipline as stated in my post)
Also, during the application and prototyping process, many will get to know and copy the business idea (or will not?). So will I lose confidentiality and hence competitiveness?
I’m still in doubts. Can share? Thanks
Let me try and put this as simple as I can
…
… I think Avid can handle this question. My take on this, from experience, the value of an idea is in its execution but we should meet up one of these days. Better 
. over teh tarik or something 
…
- the time you want to take to buuld your product is entirely up to you. The maximum duration is 12 months. If you think that you can do it in less time, then even better. Evn ifyou think you can do it with lesser amount is also even better.
- I like the paranoia
Thanks Roslan
I need to submit idea by 9th Dec (Tue). Can we meet up asap? Can email me at ricky [at] rickysoo.com. I’ll be most free on Friday and Saturday. Thanks.
Hi Avi & Ricky,
i’m also interested in applying this pre-seed fund… have been worried on how to write a proposal and submit for them….
am seeking for your helps actually… my email ‘nsh7222@hotmail.com’ hope to get your favorable reply soon!
thank you very much!
Hi Eddie, thanks for comment. As of now, I no longer proceed with the application.
But look here for 10 great tips for your application – http://blog.socialtalkr.com/10-tips-to-get-mdec-preseed-grant-worth-rm150k/
Great to see that all of you have so much enthusiasm to see your ideas evolve into a real and tangible product.
Keep it flowing.
Ricky, agreed with you. Such a blessing to learned from David Lo. I attended the MDEC Pre Seed Fund ‘idea generation’ workshop yesterday. The speaker David Lo is really good, I’ve had so much fun learning from him. Good industry knowledge.
Wish I can think of a solid idea and submit my 1 page paper by next week, so that I get the 30mins face to face talk with David
BTW , how’s your pre seed funding ?
@ kimmie: I didn’t get past David. Maybe I’ll apply again next time when I have a better idea. Anyway, all the best to you. He stressed it’s a technology fund and you need to have something creative technologically in your proposal.
Good to to you all. You might be able to get some tips here too http://www.websitesolution.com/2009/03/21/how-to-win-a-grant/
Sorry, one more http://www.websitesolution.com/2009/03/23/707/. Ricky, sorry. I am not Spammer… haha