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

