I was not that worried about Covid-19 until early March when the US Fed cut the lending rate to 0%. That was the clearest sign a big recession is here or imminent. It triggered me to write a blog post on "Building up business resilience during downturns", drawing on experiences from my own SARS experiences in 2003. Then the global infection case counts started to really spike, death tolls climbing, and stock markets continue to perform cliff dives. Der Shing then wrote a blog entry to both angel members and founders on "Staying financially alive in a crisis", reminding everyone to stay calm and strategise.
Covid-19 has practically thrown most companies' 2020 workplans out of the window, including that of AngelCentral! In my catch up sessions with my own investee companies over the past few weeks, my first question to the founders has been: What have you done to ensure your operation can last beyond this crisis? The most worrying thing to us is to hear a cavalier attitude or a head in the sand mindset. We then also realized that many founders have not experienced a real bear market or recession before!
So what if the pandemic lasts to August? or to December? What can be done now or in the next few weeks to prepare you and your team for that? I approached two successful founders - Jeffrey from Patsnap & Henry from Shopback to share their thoughts and experiences so far.
Join us in a webinar on April 2nd afternoon, 4pm to 5pm to hear Jeffrey and Henry's plans on how they will lead the company to survive and win in this crisis!
CEO & Founder, Patsnap
Jeffrey Tiong is the Founder and CEO of PatSnap, one of the world’s leading connected innovation intelligence B2B software solutions. With a passion for R&D and a desire to enable companies to innovate smarter and faster, Jeffrey has spent the last 14 years scaling PatSnap from a small start-up to a global organization serving over 8000 customers in more than 50 countries world-wide.
The inspiration for PatSnap was sparked during Jeffrey’s university internship, where he worked for a medical device start-up in the United States. Tasked with conducting patent research on the company’s product, he witnessed first-hand how data-driven IP strategy and research can help create innovative products that impact lives. He started PatSnap with a simple vision: democratize patent data to enable better and more efficient research that fuels innovation. Since its inception, PatSnap has supported many companies to innovate faster than their competitors, protect and advance their IP positions, increase R&D efficiency, and anticipate opportunities across different industries.
Regarded as an outstanding “technopreneur” and innovator, Jeffrey was awarded the SCS IT Leaders Award in 2019, Ernst &Young’s Entrepreneur of the Year Award (Singapore) in 2018 and was featured on the Peak Power List in 2017. Jeffrey currently resides in Singapore and spends most of his time traveling between Shanghai, London and Toronto.
CEO & Co-Founder, ShopBack
Henry is CEO and co-founder of ShopBack - The Smarter Way to Shop!
ShopBack is one of the largest & fastest-growing online loyalty platforms in Asia-Pacific, with reach across Singapore, Malaysia, the Philippines, Indonesia, Thailand, Taiwan, Australia and Vietnam.
We enabled over $2 Billion in sales in 2019, powering over 2,000 merchants in the region, giving consumers a one-stop rewards platform to earn cashback, while delivering performance-based marketing to merchants. As we scale, we seeks to develop innovative solutions to enable smarter purchasing decisions.
Partner & Chief Angel, AngelCentral
Shao-Ning is the Chief Angel and co-Founder of AngelCentral (www.angelcentral.co). AngelCentral started as a community in Feb 2017 to facilitate angel investments in Singapore. The community grew rapidly to almost 280 strong within ten months, and helped raised 8+M since 2016. Seeing the enthusiasm and support from the community, Shao-Ning together with Teck Moh and Der Shing, decided to incorporate and provide deeper angel training and investment support, with the key mandate to bridge good angels with good startups in Southeast Asia.
For the past few years, Shao-Ning focuses on three aspects in her life, being an angel investor, startup advisor and most importantly as a wife and mother to four boys ages between 3 and 16. Shao-Ning meets with around 5-7 startups weekly as a possible investor and also shares her experiences with some of them. The startups are mainly technology startups, with verticals ranging from Medical to HR to Education to Food Tech. Whenever she can, she tries her best to support entrepreneurship causes, especially for women executives / founders.
Previously, Shao-Ning was the Managing Director/ Group Deputy CEO of JobsCentral Group (now CareerBuilder Singapore). She started the company as a fresh graduate in 2000, grew it from a two-man team to 150-pax regional business, and sold it in 2011 to the US market leader, CareerBuilder. She left the company in 2014. In 2015 she started a web-based video platform to promote women’s confidence but sadly had to shut it down due to partner incompatibility. Her life focus is to be relevant and pay it forward, helping wherever she can.