Dot com parades like IgniteAsia Challenge tend to separate dot com dreamers from dot com builders with solid business models.
MANILA (Manila Bulletin) - ''To survive in the new economy, businesses should
not only sustain a sufficient number of patrons or customers, they must also
incorporate a stable and functional business model in order to attract the
necessary investors vital to their survival,'' said Nilo Cruz, president and
managing director of Compaq Computer Philippines Inc.
He added, "All of a sudden, it is not anymore a question of who was
first or who has more, but of who will prevail."
Cruz expressed this view in support of the IgniteAsia Challenge, a contest
for non-public Internet companies looking for funding. Compaq is a marketing
partner of IgniteAsia. The others are Microsoft, Indosuez W.I. Carr Securities,
Pacific Century Cyberworks, Netvigator.com, Bain & Company, LabMorgan,
Infocomm Development Authority of Singapore, IandI (Internet and Information)
Asia, Wired Island, eAngelz and CNBC Asia.
Geared towards cultivating and streamlining Asian entrepreneurial talent, and
supported by leading organizations, the IgniteAsia Challenge offers Internet
companies the opportunity to present their business propositions to an
experienced panel of judges from the technology, venture capital and academic
Cruz said Compaq Computer Philippines, together with its business partner
Microsoft Philippines is proud to be part of the event because both companies
firmly believe that "success comes from having a solid business structure,
worldclass architecture, and an abundance of talent and determination."
Coinciding with the Philippineleg of the IgniteAsia roadshow in Southeast
Asia is the announcement of the availability of the Compaq NonStop eBenefits
Program which is designed for dotcoms, application service providers, network
service providers, portals, Internet data centers and new Internet start-ups.
To join the program, qualified businesses are committed to purchase Compaq
ProLiant products in one year, publish Compaq's presence in all
service-providers related websites, and involve Compaq's brand in three
marketing activities per year.
In a press briefing statement, Edmund Lin, manager of Bain & Company
Singapore, said "Internet business can no longer expect to go to initial
public offering without a track record of profitability. It is essential to
receive the right venture capital backing early on."
He continued, "Dot-coms companies need to shift their attention from
being first to market to being the first to scale in their relative spaces. New
startups must be prepared to give up a share of their equity to recruit a deep,
experienced and credible management team."
Bain & Company together with LabMorgan are first round judges for the
Entrants to IgniteAsia need to submit a standard format 3-page executive
summary online, each of the chosen 50 semi-finalists then enter a full business
plan also on-line. Fifteen finalists are thereupon selected to present for five
minutes, to an audience of 250 venture capitalists and edia, at the final
conference slated on February 8 2001 in Singapore.
"Entries for the Southeast Asia leg of the Challenge will be accepted
via ww.igniteasiachallenge.com until 31 October 200," reminded Ed Milbank,
gnite Asia spokeman.
IgniteAsia offers Asian Internet entrepreneurs unparallelled access to the
ost important Internet investors in Asia, including major venture capital nd
private equity companies. It also facilitates introductions to leading
ndividuals and decision-makers in some of Asia's most prominent Internet