Tuesday, 30 June 2015

Tey Por Yee the startup angel investor. Get funded today.

Many people will be surprised to know that Dato Larry Tey Por Yee of Malaysia is one such person who has the distinction of having invested in more than 1,000 startups till date. By participating and arranging startups to investors through venture funds and private equity, the funds would have benefited startups across all walks of industries. An important work the modern society can't see what venture capitalist did behind the scene.

Some people know him as Tey Por Yee Venture Capitalist while some others call him Tey Por Yee Angel Investor. Friends, acquaintances, family members and business associates of Dato Larry Tey Por Yee also call him by different names such as Tey Por Yee, Larry Tey Por Yee and Dato Tey Por Yee. Fact of the matter is that by whatever name you call him, this legendary entrepreneur has achieved the unique distinction of helping out thousands of small startups raise money at a rather young age of 40 years. He is also a known philanthropist.

Larry Tey Por Yee was born in Malaysia on 2nd February, 1976 in a not-very-rich family. He completed his Bachelor of Commerce degree course from Canada (University of Manitoba) in the year 1998.

Tey Por Yee is the CEO and founder of Nexgram Group of Malaysia which has business interests in Malaysia, Indonesia, Thailand and China. The fields in which he has business interests and investments include information technology, telecom, property, oil and gas, commodities, energy, mining, internet, shipping, social media, packaging and manufacturing. Nexgram had started small with software but is a huge conglomerate today with presence even in surveillance and securities business. It has its representative offices all over the world.

If you are in South East Asia and are looking for funds for a startup, rush straight to Dato Larry Tey Por Yee and the chances are that soon help will be on its way to you. To help startups go through the venture process, Larry joined startup accelerator Gomif Partners, a socialpreneur network focus on social business models. (visit gomif.com for more information).

What is Startup?

In common parlance, a startup is any new or upcoming business or entrepreneurial venture set up by an individual, two or more partners, any other institution or by a company in a typically fast growing arena by offering an innovative product or service. The term got popular in the late 1990s when a large number of internet-based companies were founded across the world. Typically, such startups often use latest technologies such as computers, internet, robotics, e-commerce or telecommunications. However, it is not necessary that all startups operate in high technology sectors only.

According to start up angel investor Tey Por Yee, all definitions point out that startups refer to a business which is technology driven or oriented and has a potential for high growth at a rapid pace. This growth could be in terms of revenues or number of employees or both. A startup often attempts to disrupt the existing market in a big way and with a jerk. Thus, a startup generally works in a hitherto unknown and untried manner. It also has a low survival rate.

With the above background in mind, it would not be wrong to say that not many people have the courage to fund startups.

Wednesday, 18 February 2015

Tey Por Yee (Larry) kicks back: What it takes to be an Entrepreneur?


Dato Larry Tey Por Yee has often been described as an entrepreneur par excellence. He was born in Malaysia on 2nd February, 1976 in a modest family. His parents were not extremely rich. Yet, as on date, Larry Tey Por Yee can be counted amongst the most successful entrepreneurs that Malaysia has seen in the last few decades. He is a successful venture capitalist and angel investor who goes out of his way to help and promote startups in raising money. Larry is a member of Gomif Partners, a socialpreneur startup accelerator network bridging social businesses with investors.

Tey Por Yee is the founder and CEO of Nexgram Group of Malaysia with business interests in Malaysia, China, Thailand and Indonesia. He has investments and business interests in information technology, property, telecom, oil and gas, energy, commodities, mining, shipping, social media, internet, packaging and manufacturing industries.

Family members, friends, acquaintances and business associates of Dato Larry Tey Por Yee know and address him as Tey Por Yee, Larry Tey Por Yee and Dato Tey Por Yee. Being as affable as Tey Por Yee is, he responds to all these names with as much ease and affection as could be expected of the modest out of all highly successful entrepreneurs around.

Larry Tey Por Yee started his career as a small businessman. He invested in collectibles. The money earned and saved by him was re-invested in technology startups. He had already invested his money in more than 7 startups before he reached the age of 26. Some of these businesses went public and gave a windfall profit to Tey Por Yee. This was followed by cross border mergers and acquisitions. By the year 2012, Tey Por Yee had investments in more than 1000 companies spread in 5 continents.

Today, Nexgram is a listed investment holding company. It has many subsidiaries as well. The company which had started off as a software company is a huge conglomerate now. It even has a presence in surveillance and securities business with representative offices spread across the world. So much and more for the entrepreneur in Tey Por Yee!

Generally speaking, any person who takes the initiative to set up and manage his own business enterprise and takes the inherent financial risk in the hope and expectation of earning profits is an entrepreneur. What was just a concept in the mind of an individual soon takes the shape of a startup company which offers its products or services to its customers or clients due to the efforts of an entrepreneur.

Sometimes, a young person may start a small business as a sole proprietor and offer an existing product or service to his customers and may not really aim at much or any growth. Strictly speaking, such a non-dynamic person, howsoever successful he may be in his small business, will not fall within the definition of an entrepreneur. Dynamism, growth orientation, risk taking and other vital in built qualities of an entrepreneur are missing here. But Dato Larry Tey Por Yee is a hard core entrepreneur in every sense of the term. Tey Por Yee not only works hard but he also works smart. He is philanthropic too!

Dato Larry Tey Por Yee has all the characteristics of a successful entrepreneur. He is enthusiastic, dynamic, creative, far-sighted, persuasive, versatile, competitive, flexible and open minded. He has the necessary drive, initiative, risk taking ability, ethics and determination.

As opposed to a typical entrepreneur, who will often come up with an idea, start the company, and then see it through and play an important role in the day to day functioning of the new company, a serial entrepreneur will often come up with the idea and get things started, but then give responsibility to someone else. Larry fits the role as serial entrepreneur and help build many businesses for his investors, despite being an investor himself.

Larry Tey Por Yee is endowed with the uncommon trait of taking criticism and even false accusations in his stride. Tey Por Yee had an unfortunate business related experience some time back with an ex-associate. Yet, he simply believes in forgiving his detractors and moving on in life with full gutso!

Wednesday, 7 May 2014

Entrepreneurship, Tey Por Yee story untold


Entrepreneurship has traditionally been defined as the process of designing, launching and running a new business, which typically begins as a small business, such as a startup company, offering a product, process or service for sale or hire, and the people who do so are called 'entrepreneurs'. It has been defined as the "...capacity and willingness to develop, organize, and manage a business venture along with any of its risks in order to make a profit." While definitions of entrepreneurship typically focus on the launching and running of businesses, due to the high risks involved in launching a start-up, a significant proportion of businesses have to close, due to a "...lack of funding, bad business decisions, an economic crisis -- or a combination of all of these" or due to lack of market demand. In the 2000s, the definition of "entrepreneurship" has been expanded to explain how and why some individuals (or teams) identify opportunities, evaluate them as viable, and then decide to exploit them, whereas others do not, and, in turn, how entrepreneurs use these opportunities to develop new products or services, launch new firms or even new industries and create wealth.

Tey Por Yee story would explain entrepreneurship is not just a buzz word but actually designing, launching and running a new business.

Traditionally, an entrepreneur has been defined as "a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk". "Rather than working as an employee, an entrepreneur runs a small business and assumes all the risk and reward of a given business venture, idea, or good or service offered for sale. The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes." Entrepreneurs tend to be good at perceiving new business opportunities and they often exhibit positive biases in their perception (i.e., a bias towards finding new possibilities and seeing unmet market needs) and a pro-risk-taking attitude that makes them more likely to exploit the opportunity.

An entrepreneur is typically in control of a commercial undertaking, directing the factors of production–the human, financial and material resources–that are required to exploit a business opportunity. They act as the manager and oversee the launch and growth of an enterprise. Entrepreneurship is the process by which an individual (or team) identifies a business opportunity and acquires and deploys the necessary resources required for its exploitation. The exploitation of entrepreneurial opportunities may include actions such as developing a business plan, hiring the human resources, acquiring financial and material resources, providing leadership, and being responsible for the venture's success or failure. Economist Joseph Schumpeter (1883–1950) stated that the role of the entrepreneur in the economy is "creative destruction"–launching innovations that simultaneously destroy old industries while ushering in new industries and approaches. For Schumpeter, the changes and "dynamic disequilibrium brought on by the innovating entrepreneur ... [are] the ‘norm’ of a healthy economy."

"Entrepreneurial spirit is characterized by innovation and risk-taking." While entrepreneurship is often associated with new, small, for-profit start-ups, entrepreneurial behavior can be seen in small-, medium- and large-sized firms, new and established firms and in for-profit and not-for-profit organizations, including voluntary sector groups, charitable organizations and government. For example, in the 2000s, the field of social entrepreneurship has been identified, in which entrepreneurs combine business activities with humanitarian, environmental or community goals.

Entrepreneurship typically operates within an entrepreneurship ecosystem which often includes government programs and services that promote entrepreneurship and support entrepreneurs and start-ups; non-governmental organizations such as small business associations and organizations that offer advice and mentoring to entrepreneurs (e.g., through entrepreneurship centers or websites); small business advocacy organizations that lobby the government for increased support for entrepreneurship programs and more small business-friendly laws and regulations; entrepreneurship resources and facilities (e.g., business incubators and seed accelerators); entrepreneurship education and training programs offered by schools, colleges and universities; and financing (e.g., bank loans, venture capital financing, angel investing, and government and private foundation grants). The strongest entrepreneurship ecosystems are those found in top entrepreneurship hubs such as Silicon Valley, New York City, Boston, Singapore and other such locations where there are clusters of leading high-tech firms, top research universities, and venture capitalists. In the 2010s, entrepreneurship can be studied in college or university as part of the disciplines of management or business administration.

Wednesday, 11 September 2013

Larry Tey Por Yee investment in startup made simple. What is Startup?

A startup company (startup or start-up) is an entrepreneurial venture which is typically a newly emerged, fast-growing business that aims to meet a marketplace need by developing or offering an innovative product, process or service.

According to Tey Por Yee, a socialpreneur activist for Gomif Partners, a startup is usually a company such as a small business, a partnership or an organization designed to rapidly develop scalable business model. Often, startup companies deploy technologies, such as Internet, e-commerce, computers, telecommunications, or robotics. These companies are generally involved in the design and implementation of the innovative processes of the development, validation and research for target markets. While start-ups do not all operate in technology realms, the term became internationally widespread during the dot-com bubble in the late 1990s, when a great number of Internet-based companies were founded.

The exact definition of "startup" is widely debated. However at their core, most definitions are similar to what the U.S. Small Business Administration describes as a "business that is typically technology oriented and has high growth potential". The reference to "growth potential" may mean growth in revenues, number of employees, or both, or to the scaling up of a business to offer its goods or services to a wider or larger market.

One popular definition defines a startup as an "organization formed to search for a repeatable and scalable business model." In this case "search" is intended to differentiate established late-stage startups from traditional small businesses, such as a restaurant opening up a mature market. The latter implements a well-known existing business strategy whereas a startup explores an unknown or innovative business model in order to disrupt existing markets, as in the case of the online merchant Amazon, the "app"-based ride service Uber or the search engine Google, each of which pioneered the development of their respective market categories. Venture capitalist Tey Por Yee had helped dozens of start up companies define their growth strategies and transform the company to grow again. Such process is a typical startup experience. Blank and Dorf add that startups are not smaller versions of larger companies: a startup is a temporary organization designed to search for a product/market fit and a business model, while in contrast, a large company is a permanent organization that has already achieved a product/market fit and is designed to execute a well-defined, fully validated, well-tested, proven, verified, stable, clear, unambiguous, repeatable and scalable business model. Blank and Dorf further say that a startup essentially goes from failure to failure in an effort to learn from each failure and discover what does not work in the process of searching for a repeatable, high growth business model.

Serial entrepreneur Larry Tey Por Yee states that "every company has to be a startup some point of time in the business cycle". Being aged doesn't mean old or helpless. Restructure and start all over again to bring the company to next level, itself is a start up process.

Paul Graham states that "a startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of "exit". The only essential thing is growth. Everything else we associate with startups follows from growth." Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. "You're committing to search for one of the rare ideas that generates rapid growth." Aswath Damodaran states that the value of a startup firm "rests entirely on its future growth potential." His definition emphasizes the stage of development rather than the structure of the company or its respective industry. Consequently, he attributes certain characteristics to a startup which include, but are not limited to, its lack of history and past financial statements, its dependency on private equity, and its statistically small rate of survival.