One thing I feel disenchanted about in Asia, is the fact that there is more “talking the talk” than “walking the talk” – when it comes to encouraging the start-up ecosystem.

Like many other things in life, people look at the West, marvel about how good the start up environment is (can the real slim shady please step up and explain- Silicon Valley is not ‘the West’). But when  it comes to supporting the start up ecosystem, hardly any one seems to put the money where their mouth is.

This seems to be true even in countries like Singapore, with a focus to foster entrepreneurship. There are loads of institutions for start up mentoring and support, but when it comes to seed stage or idea stage funding, there is more talk, than play. Many of these incubation institutions seem to be self serving tools for their founders (“I am a ‘mentor’/father figure for start ups”) than making any tangible real difference to start ups. 

Businesses need more than a garage and some computers to start with- though that makes for a nice story.  For a 50k grant, the expectation is that entrepreneurs will not have any earning and work full time to bring a product out in the market. Which is the reason why you see school/college kids starting up operations rather than serious, mature individuals. (and by that, I don’t mean grandpa). The ones who eventually do get something out of this, will probably be experienced individuals in the game of funding and ‘well connected’.

Most funding institutions have limited sight, angel investment is a rare thing, venture capital looks for (perceived) risk free/me-too projects (Online travel operator? tick. Online book selling company? tick. Online ad network? tick. Mobile ad network? double tick- because “you know AdMob got acquired by Google”) -you got the idea.

Yes there are incubation/funding institutions, but the truth is, it is too little with too much effort (to get at it- not the effort to make a successful company). Add the red tape (wait for 5 months for a 50k grant and still not be sure where you are)- and you are set for disappointment. (happened to some people I know).

This space has more action in words than deed.

Prove me wrong and I’ll dance with you.