Our own Devan Singaram joined hands with fellow entrepreneurs to share their experience of applying for, and successfully receiving the MDEC Pre-seed Grant. Held during Startup Camp in KL, the rest of the gang who presented were Keng Yew, Asyraf, Hakim, Roni and Kenneth. Roslan from MDeC facilitated the session.

An important aspect of the session was to provide some tips to help potential applicants. Some of the useful pointers highlighted:

1. Developing your idea – and what to avoid (MDeC gets loads of applications on education software and wedding portals!)

2. Spending time on the application form
The first vetting stage is entirely from your application, so spend a lof of time on it and make sure it’s well-written to communicate your idea clearly.

3. Having a sound revenue model that also includes the target market – know who you are going to sell to!

4. Marketing plans and knowing your competitors
NEVER say you don’t have any competition!

5. Technology & business innovation
Something to differentiate yourself from the competition.

6. Plus a few presentations tips if your application manages to get pass the initial vetting stage and you get to pitch your idea to the evaluation committee!

GreyReview also wrote up a good article of the session.

If you are in BarCamp JB on December 7th, we’ll also be doing a similar session, so we hope to see you there!