Start-ups get more than funding at SeedPlus

SINGAPORE (July 29): Entrepreneurship is becoming an increasingly popular career choice among the young.

For the young entrepreneur, however, two things in particular are lacking: substantial personal savings and operational experience.

“A lot of the time, we see entrepreneurs running around trying to cobble together anything from $100,000 to $1 million through friends and family, a grant, maybe some of their own money and even borrowed money. They try and take three or four different inputs and they put together their seed round, which generally means you have a lot of paperwork and a lot of people to talk to. It’s just a big coordination effort and as an entrepreneur, that’s a pretty big time commitment,” says Michael Smith Jr, operating partner at venture capital firm SeedPlus.

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