Hello everybody! This is Ilya from GONT.
This article is my personal experience of a business trip to Singapore for networking with the blockchain elite, local universities dealing with decentralization issues, venture funds and the registration of a local legal entity. I hope this information will be useful to you or your project, and due to the article you will learn something new about the roadshow in Singapore. Have a productive reading!
In the middle of September the GONT team (delegation of 4 people) did the first roadshow tour in Singapore, probably the most rich and technological city in Asia.
The central event that we went to was the Russian-Singapore Business Forum. In addition, our plans included meetings with venture funds, universities, companies, private investors and people close to the state elite of Singapore. In addition, we decided to register a Singapore company, so our schedule of meetings contained several local law firms.
First day in Singapore
The day began with an arrival and a taxi ride from the airport to the Holiday Inn Express hotel in the Qlarke Quay area. You immediately understand that Singapore is a garden city. The constant feeling that you are going through the park, not through the city, does not leave you. A lot of greenery: trees, flowers, gardens on the roads. This all grows not only along the streets, but also on the walls and roofs of buildings. And, it must be said, it grows violently and very beautifully.
Especially for the trip we prepared all of our basic marketing materials in an updated design (hope you liked them;)): Onepager, Technology bluepaper, Digital values bluepaper, Presentation. After check in, we started with the rehearsal of the presentation in the lobby of the hotel.
GONT SINGAPORE COMPANY FOUNDATION
When we closed all legal issues, we held meetings with company ContactOne (representative Tricia LAM), by the recommendation of GONT adviser Konstantine Stowolosow, and company Thummel, Schutze & Partners (PhD representative Zlata Sheva).
As a result, we agreed with Tricia on the full range of registration services for the company. By the way, it costed us about 1.300 USD. For comparison, in Moscow we were offered the same services for 20.000 USD. We also agreed on legal advice in the process of the company’s functioning and structuring of the holding with Zlata. I can recommend these companies in Singapore as reliable partners with a work history and with very good prices.
Later, there was one of the most interesting meetings in Singapore with a legendary man close to Lee Kuan Yew, the former ambassador of Singapore in Russia, businessman, investor, public figure – Michael Tay. Starting the conversation at the hotel, we moved to a business dinner at the restaurant RED HOUSE. As a result, Michael described how the system of state grants is arranged, he promised to introduce us to a number of venture funds specializing in blockchain projects and Singaporean universities dealing with Blockchain. I can not help saying how much I was surprised when Michael showed his business card! To read the text on it you need to heat it at a source of open fire, for example by holding a lighter next to it. When the card cools down, it hides the text again (you can attach it to a cold glass of wine, so that will happen more quickly). This is an excellent marketing ploy!
RUSSIAN-SINGAPORE BUSINESS FORUM 2018
The next day, at 8 am, at the Ritz Carlton Hotel, registration for the Russian-Singapore Business Forum started.
However, before the registration, we met with Akbar Kader, the director of the construction company NAN GUAN CONSTRUCTION, which has a venture fund in the holding’s structure, which invests in IT-startups.
Thanks to Maxim Efremov, we held an endless series of meetings with Russian and Singaporean colleagues on the forum. Maxim introduced our team to practically all speakers and participants. We conducted more than 20 short presentations of our project in private conversation with such people and companies as:
- Ilya Sachkov – general director of GROUP IB, protection in the field of blockchain and crypto currency.
- Alex Cano – representative to the Republic of Singapore.
- Kirill Varlamov – general partner, Maxim Shteygervald – CAIA, CFA at iidf (Internet initiatives development fund.
- David Lacherade – managing director at CDI GLOBAL.
- Louis Kent Lee – co-founder, head at Viatick.
- Oliver Tan – CEO & Co-founder ViSENZE.
The main recommendation for attracting investments in Singapore is the connection with real business in Asia in the format of a business case, a confirmed partnership or a future client. And we managed to find such a company, but a little bit later about it.
These were really informative meetings that led GONT to enter the Blockchain community in Singapore. A lot of people have introduced us to Blockchain funds and we are still continuing to work with received contacts.
Then we accepted the invitation of ACRONIS to visit their office, learn more about the business of the leading company in Singapore on data protection and, possibly, find GONT interaction points with ACRONIS projects in the field of Blockchain (this direction in ACRONIS is even allocated to a separate company ChainStack).
Thank you for the amazing hospitality of the company’s employees, the trip on a very realistic simulator FORMULA 1 (ACRONIS is one of the sponsors of FORMULA 1 in Singapore. The company records and protects data received from the F1 car sensors during the race, which is about 900GB from each car for the race! ), as well as for tasting the brand line of ACRONIS wine (I hope that we haven’t drank the entire annual supply;)). Special thanks for the organization of such reception to the corporate communications manager Anna Kocharova and senior manager government relations and partnership development Eugenia Dolmatova!
We also exchanged experience with CTO ChainStack Evgeny Aseev, talked about election and voting on Blockchain and agreed to continue the discussion with the connection of our CTO via e-mail.
We also told president and co-founder of Acronis Stanislav Protasov about our project, received positive feedback and agreed to continue the discussion.
SUDIMA INTERNATIONAL BUSINESS CASE
The next morning we went to a meeting with company SUDIMA, that produces and delivers goods all over the world. We carried out a detailed presentation of the GONT project, together with Avnish Jhunjhnuwala (Chief Commercial Officer) and Ashwini Mudgal (Chief Operating Officer) we tried to develop framework representations about the specific application of GONT technology to solve their business problems and agreed on regular meetings in order to create clear requirements and develop a model for the future service for SUDIMA. The main directions are IOT in logistics, reduction of idle of goods due to unconfirmed document flow (transfer of part of the workflow to blockchain). Together with SUDIMA, we agreed to work on the issue of attracting Singapore’s state grants for the development of this case.
INCUVEST RONNIE WEE
After lunch, Michael Tay confirmed a business meeting to discuss the presentation of our project to the Singapore Universities MTU and NTU and a more detailed discussion of the GONT project with Ronnie Wee, the managing partner at IncuVest.
We managed to conduct a detailed presentation and to immerse Michael and Ronnie even deeper in our project. We received good feedback, valuable recommendations on the presentation of GONT and detailing of our cases. And also agreed on further discussion of the technical side of the project in the near future. Michael was convinced of the deep scientific R&D part of GONT, so he confirmed his participation in the presentation of the project to the University environment.
The rest of the day we dedicated to follow-up of all the negotiations and preparation for the return flight to Moscow.
Our week was very productive and incredibly saturated.
In addition to the article, I suggest you to watch the video, that we shot while we were in Singapore.
Thank you for attention! Good luck!
Ph.D., Ilya Timoshin