FCCS Focus Magazine - Spring 2010 by The French Chamber of Commerce in Singapore

Focus

The Magazine of the French Chamber of Commerce in Singapore

Spring 2010

www.fccsingapore.com

French Entrepreneurship in Singapore

FOCUS MAGAZINE

CONTENTS

May 2010

EDITORIAL 03

SHORT NEWS

FOCUS MAGAZINE

French Companies in Singapore

May 2010

Givenchy Awards FJ Benjamin Exclusive Distribution Rights for Singapore

SHORT NEWS 04 Givenchy Awards FJ Benjamin Exclusive Distribution Rights for Singapore Chaumet Opens in ION its First Flagship Boutique in Southeast Asia Weichai-Baudouin has Opened its Group Regional Headquarters in Singapore Atos Origin Completed the IT Infrastructure for Singapore 2010 Youth Olympic Games SingTel Selects Arkadin Global Conferencing Services Voilah! Celebrates the Art of French Culture Singapore Expects 12 Million Visitors for 2010 82% of ICT Companies Expect Growth in 2010 Singapore Ranked 2nd Most Networked Economy

Mr Fabrizio Malverdi, CEO of Givenchy said "We are delighted about this collaboration and are conﬁdent of the experience and expertise of FJ Benjamin in the luxury retail sector. Givenchy's modernity and French tradition will be successfully developed in Singapore."

Mr Nash Benjamin, Group CEO of FJ Benjamin, said: “The Givenchy brand is steeped in tradition and embodies French elegance and style. We are excited to be collaborating with the LVMH Group again.

FJ Benjamin manages another LVMH brand, Celine, for which it is an exclusive distributor and retailer in Southeast Asia. F

Chaumet Opens in ION its First Flagship Boutique in Southeast Asia Legendary French jeweler Chaumet has opened in ION Orchard, marking their first flagship boutique in Southeast Asia. Following the meteoric success in Hong Kong, Chaumet aims at establishing visibility and credibility in Singapore which will springboard their business in the rest of the region. One can hardly miss the stunning and salient cobalt blue façade of the boutique. The backlit, translucent, blue glass exterior is like a giant light box with a line of show windows fittingly framing exquisite pieces of jewelry. An innovative display principle makes use of the symmetry and verticality of the architectural materials which, far from encasing the jewels, makes it possible to focus on Chaumet’s creations.

The iconic blue embellishment is carried further through the interior of the boutique with a cobalt blue carpet accentuating the middle of the store. The interior sales space is characterised by generous space, graphic lines and noble materials. An elegant atmosphere is created with a mix of natural daylight pouring through light shafts and light from table and hanging lamps in frosted white glass designed by Wilmotte. Unlike traditional display showcases in most jewelry stores, the jewelry pieces are showcased in an open and unrestrictive concept. Display cases are aligned in succession of small illuminated glass cubes, thus allowing customers to have an unobstructed view of all the details and intricacy of each Chaumet creation on display. F

COVER STORY

FOCUS MAGAZINE

French Entrepreneurship in Singapore

May 2010

An Efficient Communication Goes Through Social Media

ENTREPRENEURS MADE-IN-SINGAPORE Singapore - A Great Place to Start and Grow a Business The First Place in the World for the Ease of Doing Business Raising Capital for Start-Ups Be Investor-Ready Setting Up as an Entrepreneur in Singapore Facing Cultural Differences Singapore Made in France Selecting the Right Distribution Channel How to Turn Crisis into Opportunity? An Efficient Communication Goes Through Social Media The Ability to Adapt to a Cyclic Market Bringing the French Culture to Singapore A Leisure Island Singapore, a Good Place to Start Flexibility is Key

With our experience in brand management and the synergies we gain from our large and diverse portfolio, we believe we can develop and build the Givenchy brand in Singapore.”

The long-term agreement will see FJ Benjamin opening the ﬁrst store at the Paragon Shopping Centre in the middle of the year. The planned 1,500 sq ft store under the latest Givenchy concept will feature a range of Men’s and Women’s ready-towear and accessories.

04 04 05 05 06 06 07 07 07

COVER STORY 09

This latest deal underscores their conﬁdence in FJ Benjamin’s local knowledge and track record.

FJ Benjamin, Singapore’s leading fashion and lifestyle group, signed an agreement with Givenchy, part of the French luxury giant LVMH (Moët Hennessy Louis Vuitton), to become its exclusive distributor and retailer in Singapore.

Interview with Mr Julien Arnaud, CEO, Edgilis

10 12 14 15 16 18 20 22 24 26 28 30 31 32 33

Edgilis provides a wide range of consulting services to a diversiﬁed client base that includes multinationals, technology blue-chips and government. They recently decided to rename the company; Julien explains the reasons and shares his views on communication tools. WHAT ARE THE MAIN REASONS WHICH BROUGHT YOU TO CHANGE NAME AND BRAND? The change of name is a coming of age for the company. Over the past 4 years Edgilis has practically doubled in size every year, which means we now have a much broader range of services to offer alongside our original core technology consulting solutions. So to encapsulate our new direction of opportunity consulting through intelligent application of innovation, we changed our name to Edgilis, which is derived from the words “edge” and “agile” which is an expression of the company’s vision and values. WERE THERE ANY ADDITIONAL BENEFITS FROM THIS REBRANDING EXERCISE?

mission as well as our client service philosophy.

WITH LITTLE FUNDS WHO WANT TO COMMUNICATE?

IN YOUR COMMUNICATION STRATEGY, DO YOU USE SOCIAL MEDIA?

I would say not to underestimate the power of social media and its potential to expand your business no matter what industry you are in. Everyone uses the internet for their business whether it is for research, job searches or for transactions. Getting your emails read is imperative to a successful business today, and the use of e-newsletters and supporting web resources is invaluable. I believe spending time on the design of your website is essential, because of the importance of ﬁrst impressions. You don’t have to spend a lot, if any, money on social networking. There are thousands of blogs, forums, groups that are related to your industry. Become members, subscribe and utilise to full potential. For example, LinkedIn is a great platform that has really made it so much easier to build your network, for those who know how to use it.

We do use social media, and we have re-designed our strategy to make the most of new platforms in 2010: we have a business blog for our employees to share news and experiences. We have built communities of followers on Facebook, LinkedIn and Twitter. These platforms allow us to promote a community beyond the geographical boundaries, since most of our employees are travelling outside of Singapore on a regular basis. Our strategy for tomorrow is to train our employees to use video more often, so that we can continue to grow our online presence and inﬂuence decision makers with the best media available.

Rebranding ourselves gave us an excellent opportunity to reﬂect on our internal organisation, as well as to reﬁne our vision,

WHAT WOULD BE YOUR ADVICE FOR YOUNG ENTREPRENEURS

DO YOU BENEFIT FROM ANY GOVERNMENTAL SUPPORT AND HOW DID YOU GET IT? Yes, Edgilis receives support from the government. One of the great things about Singapore is that the government is supportive of entrepreneurs. There are a number of government agencies who provide grants and/or capabilities development support for all aspects of the business: R&D, employee training, branding, IT & business excellence, just to name a few. Some of them offer ongoing grants meaning you can apply for them anytime. Other grants only have an application period every quarter or once a year. Popular government agencies include SPRING, IE Singapore, IDA and EDB, which all have very up-todate websites on available support. F

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FCCS BUSINESS SERVICES

May 2010

Tradeshows in Singapore

Second Edition of the French Pavilion @ IDEM 2010 IDEM (International Dental Exhibition and Meeting Singapore) is the foremost dental trade and knowledgesharing platform in Asia-Paciﬁc.

FCCS HR & TRAINING SERVICES 34 FCCS BUSINESS SERVICES 35 Second Edition of the French Pavilion @ IDEM 2010 Newly Set Up Company via the FCCS Services They Rely on Us...

35 36 38

For the second time, the French Chamber of Commerce in Singapore (FCCS) in collaboration with Ubifrance – the French agency for international business development – put together a French pavilion of 84 sqm at this year’s IDEM tradeshow. 9 exhibitors presented their world-class

Acteon is the worldwide leader for small dental equipment and consumables (SATELEC, PIERRE ROLLAND and SOPRO). 750 employees work in five manufacturing sites, eight subsidiaries and five representative offices. Anthogyr designs, manufactures and sells global solutions for dental implantology since 1947. Specialised in implants, contra-angles, surgical motor, surgical kit and trainings. Anthogyr is present in 85 countries.

With 25 years of experience, Biomantle is the key to extraction sockets, sinus lift, other bone defects: MBCP+, MCBP Gel & EZ Cure 100% synthetic biphasic bone graft & innovative resorbable membrane.

products and services at this regional tradeshow, showcasing France's excellence in the dental equipments and services.

resented under the pavilion clearly illustrates the dynamism in the ﬁeld of innovation and technology of companies from France.

IDEM has been selected by many exhibitors as a platform to launch new products in Asia and sometimes even worldwide. The diversity of activities rep-

This year, IDEM gathered 352 exhibitors from more than 34 countries, and 6,057 persons visited this dental show. F

Easy Implant is a French manufacturer of dental implants, prosthetic components and surgical instrumentation.

ucts in more than 125 countries worldwide. Its main ﬁelds of activity include endodontics, obturation, handpieces, and hygiene products.

GO2cam is a CADCAM software provider for the mechanical ﬁeld with over 5,000 users worldwide. They have also released GOdental, a customisable CADCAM platform for high quality machining of dental prosthesis in the hardest materials.

Owandy Dental Imaging Systems and Software is a French leading manufacturer of digital imaging systems as well as management and imaging software. Owandy develops innovative devices easy to use and friendly for the patients.

Kasios manufactures products for spine, trauma and dental surgery and a full range of bone substitutes: KAGE RSF-Cervical cagesDuowedge-Jectos-Jectos+.

Scorpion manufactures and sells universal scaler tips with visual wear indicator. The Scorpion insert tip is coated with 2μm thick and strong titanium nitride layer, and has to be changed when the titanium coated has disappeared. F

Founded in 1905 in France, MICRO-MEGA® manufactures, sells and markets its prod-

FCCS CLUB EVENTS 40 Tax & Legal Committee HR Committee IT Committee Asia Committee Entrepreneurs Committee Marketing & Communication Committee R&D Committee Energy & Environment Committees Events & Gala Committees Epicurean Burgundy - Increase Your Visibility With Us Key Figures About FCCS Members and Events FCCS New Members FCCS Privilege Card

40 40 41 42 44 45 46 47 49 50 53 54 56

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FCCS CLUB EVENTS

May 2010

Energy & Environment Committee

Climate Change: Everything You Need to Know About the Copenhagen Summit The aim of this meeting organised by our Energy & Environment Committee was to get an expert to debrief our members on the discussions that took place in Copenhagen and also to gather our members to discuss about future actions of the Committee.

presenting the different existing schemes for businesses and how to get started. She also introduced some helpful organisations. A discussion further took place between our members to exchange views and opinions on this matter.

Mrs Joëlle Brohier, Director of Anakout, a CSR and Sustainable Development Consultancy ﬁrm, ﬁrst gave a feedback on the Copenhagen Summit, its objectives, its issues, questions to be answered and its outcome. She then focused on the business and climate change in Singapore, explaining the background and the national policy,

In a second part, our members exchanged on the future agenda of the Committee, deciding to focus on important subjects such as Corporate Social Responsibility (CSR) for example. This

kind of meeting is really appreciated by our members as it allows them to better explore potential areas of collaboration and to exchange on best practices. F

Site Visit: Senoko Power Plant Senoko Power is the largest power generation company in Singapore, providing about 26% of the nation’s electricity needs. It has a combined installed capacity of 3,300MW. Over 90% of its electricity is generated from the environmentally-friendly gas-ﬁred Combined Cycle Plants (CCPs). Senoko is a true triple bottom-line company concerned not only with its ﬁnancial performance, but also its impact on the environment and the community. The Repowering of its Stage 1 assets to CCPs in 2004 effectively reduces its carbon footprint by 2.5 million tonnes CO2 per year (Singapore total carbon footprint was about 40 million tonnes CO2 per year). The French Chamber of Commerce in Singapore, through its Energy & Environment Committee, organised a site visit to better understand the challenges Singapore has to face in terms of energy. The half-day visit started with a video presentation of environmental strategies and a

summary video of national weather study project competition 2009. After this introduction, our guests, guided by Mr Kwong Kok Chan, General Manager (Environment), started the tour of the power plant.

agement), gave a presentation to the audience. And to conclude this fascinating presentation, Mr Brendan Wauters, President & CEO, gave us a speech and had lunch with our participants.

After this one-hour tour, Mr Philippe Devreux, General Manager (Portfolio Man-

We thank again Senoko Power for this very interesting visit. F

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FCCS PATRON MEMBERS

May 2010

The French Chamber of Commerce in Singapore would like to thank its Patron Members for their continuous support.

Singapore Office

FCCS Focus Magazine is published by the French Chamber of Commerce in Singapore (FCCS). The views and opinions expressed in its columns do not necessarily reflect those of the FCCS members and management.

director of publication Carine Lespayandel chief editor Florence Baret editorial contributor Nicolas Avril design & layout Florence Baret advertising Nicolas Avril Gina Moulay-Aubry colour separation & printing NPE Print Communications Pte Ltd

Spring 2010 3,500 copies MICA (P) N째090/09/2009

THE FRENCH CHAMBER OF COMMERCE IN SINGAPORE 541 Orchard Road #09-01 Liat Towers Singapore 238881 Tel: +65 6735 5523 Fax: +65 6735 5394 www.fccsingapore.com info@fccsingapore.com

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EDITORIAL

May 2010

Singapore: A Place of Choice for Entrepreneurs ingapore’s policy of attracting foreign talents has been now in place for decades. In parallel, and particularly during the last ten years, the government has consistently encouraged the development of entrepreneurship in Singapore. Because of the ease of doing business in Singapore – and its quality of life – the outcome is a vibrant community of local and foreign entrepreneurs setting up their ﬁrst or second or even third venture in Singapore, in sectors as diversiﬁed as retail or Information and Communication Technology (ICT).

actors. These include events such as imatch sessions, where promoters have the opportunity to present their projects to potential investors. The Inaugural Asian Business Angel Forum (ABAF), which took place in Singapore early March 2010, brought together for the ﬁrst time in Asia, angel networks, investors, start-up companies, policy makers, fund managers and investment professionals from across Asia, Europe and the US. This event was a milestone highlighting the participation of Singapore in the global market of entrepreneurship.

Indeed, entrepreneurship is growing in Singapore. Minister-in-Charge of Entrepreneurship Lee Yi Shyan stated, in an interview with the Business Times in July 2009, that the number of start-ups formed for every 10,000 people was 45 in 1987, 85 in 1997, 108 in 2007, and that the target is 120-130 within 10 years.

However favourable and supportive a business environment may be, it is no substitute for an entrepreneur’s own hard work; the path remains challenging, not only at the start-up phase but often enough, continuing for years. Nevertheless, aspiring entrepreneurs may well be right in feeling that Singapore is one of the best places in the world to start their (ad)venture, especially if they are thinking “Global” and are able to develop innovative products or services in high technology sectors.

The government has put emphasis on the creation of an entrepreneurship ecosystem where various actors such as research institutes, venture capitalists, or incubators get ﬁnancial and other support to connect and leverage their efforts in promoting entrepreneurship. Entrepreneurs may seek information, assistance and support, through SPRING Singapore, a dedicated enterprise development agency. Numerous events are organised to facilitate the networking between entrepreneurs and these

Valérie BONIN Entrepreneurs Committee, The French Chamber of Commerce in Singapore; Director, Alpana Advisory Services Pte Ltd

SHORT NEWS French Companies in Singapore

FOCUS MAGAZINE May 2010

Givenchy Awards FJ Benjamin Exclusive Distribution Rights for Singapore FJ Benjamin, Singapore’s leading fashion and lifestyle group, signed an agreement with Givenchy, part of the French luxury giant LVMH (Moët Hennessy Louis Vuitton), to become its exclusive distributor and retailer in Singapore. The long-term agreement will see FJ Benjamin opening the ﬁrst store at the Paragon Shopping Centre in the middle of the year. The planned 1,500 sq ft store under the latest Givenchy concept will feature a range of Men’s and Women’s ready-towear and accessories. Mr Nash Benjamin, Group CEO of FJ Benjamin, said: “The Givenchy brand is steeped in tradition and embodies French elegance and style. We are excited to be collaborating with the LVMH Group again.

This latest deal underscores their conﬁdence in FJ Benjamin’s local knowledge and track record. With our experience in brand management and the synergies we gain from our large and diverse portfolio, we believe we can develop and build the Givenchy brand in Singapore.” Mr Fabrizio Malverdi, CEO of Givenchy said "We are delighted about this collaboration and are conﬁdent of the experience and expertise of FJ Benjamin in the luxury retail sector. Givenchy's modernity and French tradition will be successfully developed in Singapore." FJ Benjamin manages another LVMH brand, Celine, for which it is an exclusive distributor and retailer in Southeast Asia. F

FOCUS MAGAZINE May 2010

SHORT NEWS French Companies in Singapore

Weichai-Baudouin has Opened its Group Regional Headquarters in Singapore Weichai-Baudouin (S) Pte Ltd, a subsidiary of SIMB (France) – Société Internationale des Moteurs Baudouin – which has been part of Weichai Power (China) since March 2009, celebrated its "Grand Opening Ceremony" on 25th March in the presence of their Excellencies the Ambassador of China, the Ambassador of France and the Director of the Singapore Economic Development Board (EDB). Recently the company participated in APM 2010 (Asia-Pacific Maritime), one of the largest marine exhibition in Asia. Located in Tuas in its new 1,600 m2 office, WeichaiBaudouin (S) Pte Ltd represents the Group Regional Headquarters to develop marketing, sales and services of all Weichai Group subsidiaries' products in Southeast Asia and Pacific, thanks to the long experience of its Chinese, French and Singaporean teams. For over a century Baudouin has been focusing on the design, manufacturing, marketing and sales of diesel

marine engines and complete marine propulsion systems up to 1,300 hp. Since the opening of Weichai European R&D Centre in Cassis (in September 2009) Baudouin has been in charge of all developments for the Group as far as marine applications are concerned. Weichai Power is one of the largest engineering groups in China with over 40,000 employees, the largest diesel and gas engine manufacturers and one of the largest worlwide diesel engine manufacturers with a yearly production of more than 350,000 units up to 10,000 hp. Weichai is also a key player in China for generators, trucks, coaches, construction machinery, bulldozers, forklifts for famous brands such as Shacman and Shantui. F

Atos Origin Completed the IT Infrastructure and Systems Design Phase for Singapore 2010 Youth Olympic Games The Singapore Youth Olympic Games Organising Committee (SYOGOC) and Atos Origin – the worldwide information technology partner for the Olympic Games – announced the completion of the IT Infrastructure and Systems Design Phase for the Singapore 2010 Youth Olympic Games. The Integration Test Lab (ITL) will be a one-stop centre for integrating and testing the Games’ IT infrastructure and applications such as the Games Management Systems (GMS); Information Diffusion Systems (IDS); Timing, Scoring & Results Systems; and Internet & Digital Media Systems before they go live for the Games. More than 2,000 computers, 170 servers and 500 network devices will be set up at 18 competition venues, as well as the Culture and Education Programme sites, Main Media Centre, Youth Olympic Village, and Changi Airport, among other locations. SYOGOC’s Technology Division, which

is made up of staff assigned from the Infocomm Development Authority of Singapore, and Atos Origin, the Games System Integrator who supported previous Olympic Games and the recent Vancouver 2010, are responsible for designing, building and operating the technology which is vital to the smooth running of the Games.

“We are very pleased to have been able to reach this key milestone, that will provide critical IT support for the inaugural Youth Olympic Games,” said Mr Patrick Adiba, Executive Vice President, Olympic Games at Atos Origin. “Our team has over 20 years experience and expertise in building IT systems for world-class and large-scale sports games and we are able to apply our skills to provide the best IT systems for the Games.” Atos Origin holds the largest sports-related IT contract in the world. The contract with the International Olympic Committee (IOC) began with Salt Lake City in 2002, and continued with Athens in 2004, Torino in 2006, Beijing in 2008, Vancouver in 2010 and London in 2012. The contract was renewed in 2009 for Sochi in 2014 and Rio de Janeiro in 2016. F

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SHORT NEWS

May 2010

French Companies in Singapore

SingTel Selects Arkadin Global Conferencing Services Arkadin Global Conferencing announced in March a strategic agreement with SingTel, Singapore’s largest communication group. SingTel will exclusively offer Arkadin’s audio and web conferencing and collaboration solutions for its WorldConference virtual meeting service to all its customers in Singapore. ArkadinAnytime™, ArkadinEvent™ and ArkadinAnywhere™ audio and web conferencing solutions will be offered under SingTel’s WorldConference brand as SingTel Anytime, SingTel Event and SingTel Anywhere. Mr Olivier de Puymorin, founder and CEO of Arkadin, comments, “We are delighted to be partnering with SingTel, who will be using our proprietary conferencing and collaboration platform to provide all their audio and web conferencing services. This agreement adds to the phenomenal growth of Arkadin to further strengthen our global footprint

in the Asia-Paciﬁc region. Our Singapore team will be working closely with SingTel to grow and expand market share under the SingTel WorldConference brand.” Mr Chan Yim Leng, SingTel’s Vice President for Business Products, said, “SingTel works closely with top-tier technology vendors to support our customers’ business needs with superior performance, reliability and ﬂexibility. Our agreement with Arkadin further enhances the SingTel WorldConference service and enables us to offer an unrivalled virtual meeting and collaboration experience.” ArkadinAnytime™ – On demand audio conferencing available 24/7 designed for frequent, regular or last minute meetings, can be accessed from any place across the globe. ArkadinEvent™ – a pre-scheduled, professionally managed, operator assisted Audio and Web Conferencing service offers a wide-range of features, including Q&A sessions, conference recordings and call transcriptions. ArkadinAnywhere™ – a web conferencing and collaboration tool for reaching geographically dispersed audiences with advanced multimedia content. F

Voilah! Celebrates the Art of French Culture Voilah! the annual French Festival in Singapore returns with a rich spread of cultural, culinary and sporting events from April 15 to May 21, 2010. From French food to French football, classical music to young, angsty rock, art déco to street art, this year’s edition of Voilah! aims at showcasing the many facets of France and its culture. The Festival, organised by the French Embassy in association with the French Chamber of Commerce in Singapore (FCCS), and sponsored by leading French companies in Singapore, presents over 25 events, which include musical performances, visual art exhibitions and film screenings, reflecting both traditional and contemporary French culture. Opening the Festival in fitting fashion is a musical revue by Sing’Theatre titled “A Singaporean in Paris”, starring Singaporean actor Hossan Leong. French films also take centre stage during the Festival as Voilah!, together with the Singapore International Film Festival, present seven French film productions and co-productions.

Displaying the diversity of the French culture in Singapore, the Festival includes, for the ﬁrst time, a sporting element with Etoile FC, the French football club in the Singapore S-League. Featuring the eclecticism of French street culture, the Festival also presents the energy and vibrancy of French street art with an exhibition by one of France’s pioneer street artists, Miss.Tic. From street art to rock music, Voilah! aims at offering something for the young and the young-at-heart with a concert by the up and coming French rocker, Izia, winner of the Best Rock Album of the Year at the recent “Victoires de la Musique”. Also, among the highlights of the Festival is the French Gastronomy Promotions with the participation of 10 Food & Beverage outlets specialising in French cuisine and products. Finally, the full Festival programme also includes classical music performances and the FCCS’ Gala Dinner event “A Night in Versailles”. F

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SHORT NEWS

May 2010

Singapore

Singapore Expects 12 Million Visitors for 2010 The Singapore Tourism Board (STB) announced its forecast for this year of S$17.5 – S$18.5 billion in tourism receipts. STB expects 11.5 to 12.5 million in visitor arrivals and has rebranded Singapore as a destination. “Uniquely Singapore” has been changed to “YourSingapore”, unveiled by Senior Minister of State for Trade & Industry and Education, Mr S Iswaran, during the Tourism Industry Conference 2010 held at Resorts World Sentosa. Ms Aw Kah Peng, STB’s Chief Executive,

commented, “Despite last year being an exceptionally challenging one, the tourism industry weathered it credibly. With the global travel industry expected to recover this year and with Singapore offering an even more compelling suite of tourism experiences, including the two Integrated Resorts (IRs) that open this year, we are conﬁdent that the sector will be able to register its best performance to date.” F

Source: Singapore Business Review, 08 March 2010

82% of ICT Companies Expect Growth in 2010

The survey, conducted by the Singapore infocomm Technology Federation (SiTF), revealed the business outlook for Singapore's ICT industry is cautiously optimistic.

Of the different strategic technologies for the Singapore ICT industry, cloud computing ranked ﬁrst when respondents were asked which key technology will impact CIOs in 2010. Almost 60% of the poll participants indicated cloud computing as the top strategic technology, followed by mobile applications, software-as-a-service, virtualisation and green IT in order of ranking.

The top business concern is recruiting and retaining talent, with 68% of respondents saying they expect starting salaries to increase in a bid to attract talent.

Ms Tan Yen Yen, Chairman of SiTF, said, "The ICT sector will continue to be a strategic pillar as Singapore shifts towards a high-value and knowledge-based

Expected growth is between 5 to 20% with 70% of respondents indicating there will be continued or increased expansion into overseas markets.

economy, which is supported by various initiatives such as Productivity and Innovation Credit and skills upgrading in Singapore Budget 2010." 100 respondents were polled for the survey in February, 82 from infocomm local enterprises and 18 from multinational companies. F

Source: Singapore infocomm Technology Federation (SiTF), Singapore Business Review, 03 March 2010

Singapore Ranked 2nd Most Networked Economy Even before the full rollout of the ambitious Next Generation National Broadband Network (Next Gen NBN), Singapore has moved up two places to the second spot in the global Networked Readiness Index (NRI) ranking published by the World Economic Forum (WEF), and produced in cooperation with INSEAD. The report highlights the key role of ICT as an enabler of a more economically, environmentally and socially sustainable world. The current NRI covers 133 economies from both the developed and developing world, accounting for more than 98% of the world's gross domestic product.

Some of the other Asia-Paciﬁc economies that ﬁgure in the top 20 this year are:

Rankings 2009-2010 Top Ten Rank

Country

Sweden

Score 5.65

Singapore

5.64

Denmark

5.54

Switzerland

5.48

USA

5.46

Finland

5.44

Canada

5.36

Hong Kong

5.33

Netherlands

5.32

Norway

5.22

Hong Kong (8th), Taiwan (11th), Korea (15th), Australia (16th) and New Zealand (19th). The two largest Asian emerging markets – China and India – continue their progression in the NRI rankings, leapfrogging another nine and eleven places to 37th and 43rd respectively. Europe remains one of the most networked regions of the world with 12 economies ranked among the top 20 performers in this year's rankings. F

Source: The Business Times, 01 April 2010, Global Information Technology Report 2009/2010

FOCUS MAGAZINE May 2010

COVER STORY French Entrepreneurship in Singapore

French Entrepreneurship in Singapore

FOCUS MAGAZINE

COVER STORY

May 2010

French Entrepreneurship in Singapore

Singapore - A Great Place to Start and Grow a Business By Mr Inderjit Singh, Deputy Chair, Action Community for Entrepreneurship (ACE), Entrepreneur and Member of Parliament.

ntrepreneurship is a key driver of economic growth in Singapore. Acknowledging this, the government appointed a Minister in charge of Entrepreneurship and formed in 2003 the Ac-

tion Community for Entrepreneurship (ACE), a movement between private and public sectors to enhance the entrepreneurship landscape. I have had the privilege to be part of this movement from the

start, working with fellow entrepreneurs alongside public servants to drive the changes since then, and today Singapore is fast becoming an Entrepreneurial Hub of choice.

A PRO-BUSINESS ENVIRONMENT Entrepreneurs working hand-in-hand with government officials forged ahead to create a pro-enterprise environment for our entrepreneurs. Our efforts over the years have paid off. The World Bank has ranked Singapore as No. 1 in terms of “Ease of Doing Business” for the past four years. In the latest Global Competitiveness Report, Singapore was ranked first in “Intellectual Property Protection” and second in “Quality of Overall Infrastructure”. In terms of access to financing, Singapore was ranked third in “Venture Capital Availability”, which assesses how easy it is for entrepreneurs with innovative but risky projects to find venture capital, and fourth in “Ease of Access to Loans”. Beyond the rankings, Singapore has one of the lowest corporate and income tax rates, compared with most countries. Start-ups enjoy tax exemption for the first S$100,000 of normal chargeable income and are only required to pay 50% of taxes on the next S$200,000 of chargeable income during the first three years of their operations. Singapore’s network of Free Trade Agreements (FTAs), including with major economies such as the US, China, Japan and India, enables businesses to have easier access to markets while International Enterprise Singapore (IE Singapore) helps to facilitate their expansion overseas. Over the years, the government has worked to improve the regulatory environ-

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COVER STORY

May 2010

French Entrepreneurship in Singapore

“ ment to help businesses operate more efficiently. In many countries, it may take several months to register your business. In Singapore, it takes only one day to do so and at a fraction of the cost. A Pro-Enterprise Panel (PEP) chaired by the Head of the Civil Service with members from the public and private sectors was set up in 2000 to get feedback from the public to enhance business regulations. The PEP has since implemented through rule changes, over 960 of the 1,750 suggestions received, making Singapore even more pro-business.

AN ENTERPRISING CULTURE We need a future generation of innovative and entrepreneurial Singaporeans to build the next wave of home-grown global enterprises. We work with the government to ensure that our educational system is conducive to entrepreneurship learning, that entrepreneurial youth are given the opportunity to learn to be entrepreneurs. By partnering educators, we seek to entrench learning of enterprise mindsets and skills into school curriculum and pedagogy. SPRING Singapore’s Young Entrepreneurs Scheme for Schools (YES! Schools) is geared towards this goal. More businesses are formed every year, from below 36,000 in 2002 to almost 50,000 in 2008. This translates to 103 businesses for every 10,000 Singaporeans, which is double that for the United Kingdom (53) and Finland (56), though only half of that in the United States (207). We have achieved these through active public-private partnership and engagement. While the foundation has been laid, more needs to be done for more vibrant entrepreneurial growth in Singapore. We need a

More businesses are formed every year, from below 36,000 in 2002 to almost 50,000 in 2008.

”

future generation of innovative and entrepreneurial start-ups to build the next wave of Singapore-built global enterprises. To supplement local entrepreneurs, the EntrePass scheme provides a gateway for foreign entrepreneurs to set up their businesses in Singapore. In 2008, some 2,000 EntrePass businesses operated in Singapore, employing over 7,000 workers. Stor(ag)e Pte Ltd is one such company. Started by a Swedish entrepreneur, Vikman Lars Gunnar in 2005 to sell its own stationary brand Prints, Stor(age) has since set up four stores in Singapore and licensed its concept to stores in Hong Kong and Paris.

BRIDGING ACCESS TO MONEY, RESOURCES AND MARKETS Recognising that innovative start-ups are the next growth enterprises, SPRING Singapore, the government agency for enterprise development, works alongside innovative start-ups to facilitate growth and market development. For instance, for youths who desire to turn their business ideas into reality, the Young Entrepreneurs Scheme for Start-ups (YES! Startups) can support with a matching grant for youths to start their first innovative business. The Technology Enterprise Commercialisation Scheme (TECS) also supports conversion of intellectual property into tangible products and services for commercial ventures. SPRING’s Start-up Enterprise Development Scheme (SPRING SEEDS) and the Business Angel Scheme (BAS) provide equity funding for innovative start-ups to grow. At the same time, we want to encourage

greater angel investment, by incentivising private individuals with appropriate investment and business expertise to provide financing and business mentorship to start-ups. To attract these smart investors, the government has recently introduced a new incentive for angel investors. Under this incentive, an eligible angel investor who commits a minimum of S$100,000 of equity investment in a qualifying start-up in a given year can claim 50% tax deduction on his investment at the end of a two-year holding period. To address the needs of start-ups for resources beyond money, SPRING launched the Incubation Development Programme (IDP) in 2009. Among the supported fullsuite incubators and venture accelerators are incubators in Universities, PARCO Fashion Incubator, Business Angel Network of Southeast Asia (BANSEA), Microsoft Innovation Centre to name a few. These partners help innovative start-ups grow by providing business mentorship, and help them to raise funds and gain access to overseas markets. Collectively, these efforts aim at making the environment more conducive for business creation and support the growth of innovative start-ups. F

LEFT PAGE Mr Inderjit Singh is also a Board Member of the World Entrepreneurship Forum, a global entrepreneurship think tank founded by EMLYON Business School and KPMG. Article includes inputs from SPRING Singapore.

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French Entrepreneurship in Singapore

The First Place in the World for the Ease of Doing Business Interview with Mr Julian Ho, Assistant Managing Director of the Singapore Economic Development Board (EDB)

EDB is the lead government agency responsible for planning and executing economic strategies to enhance Singapore's position as a global hub for business, innovation and talent. They are also entrusted with the mission to create sustainable GDP growth for Singapore by creating good jobs and business opportunities.

Singapore is the Best place in Asia to live, work and play.

SINGAPORE HAS BEEN RANKED THE EASIEST PLACE IN THE WORLD TO DO BUSINESS, COULD YOU DEVELOP ON THE REASONS WHY SINGAPORE IS SO ATTRACTIVE FOR BUSINESSES?

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Our unique Global-Asia proposition makes Singapore a strategic location for MNCs, global mid-sized companies and emerging Asian enterprises to manage, integrate, control and expand their business activities in Asia and around the world. For example, Singapore is home to nearly 840 French companies.

and delivering on our promises is one of the reasons why we are fortunate to have developed deep relationships with businesses. This has also gained us some accolades, such as “the most transparent country in the world” (IMD World Competitiveness Yearbook 2009), and the country with the least corruption in its economy in Asia (IMD World Competitiveness Report 2009). We also offer the “best protection of intellectual property” (2009-2010 Global Competitiveness Report).

We believe there are four key reasons why Singapore attracts businesses: Trust In a world of uncertainty and volatility, trust is a valuable asset. Singapore has opened its doors to welcome foreign investments since our nation’s independence. Our emphasis on integrity, quality

Knowledge Knowledge expresses Singapore’s commitment to high levels of education and skills, complex manufacturing, high value added services, technological savvy, IT competency, R&D and creativity. We aim to make Singapore a knowledge and talent hub where people in different fields create, exchange, and develop ideas. We are home to 16 leading foreign tertiary institutions. World-class universities such as INSEAD, ESSEC, Chicago Booth Graduate School of Business and New York University’s Tisch School of the Arts have set up operations here. Connectivity Singapore’s strategic location gives us access to 3.2 billion people in Asia within a seven hour flight radius. Being an excellent logistics base, our container port is the busiest in the world, connected to 600 ports in 123 countries. Singapore also has the

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most extensive network of FTAs in Asia, covering 60% of the world’s GDP. However, connectivity goes beyond the physical or market networks – Singapore is a microcosm of Asia, and we have strong cultural links to the region. This enables companies to feel the pulse of Asia and develop products and services suitable for the Asian market. Life As a cosmopolitan country at the crossroads of Asia, people from Asia feel right at home – and those from beyond feel welcome here in Singapore. One in three persons here comes from abroad, constantly adding to a rich mix of different cultures, lifestyles and religions, all co-existing harmoniously. Besides being acknowledged for its high standard of living, and excellent healthcare and education systems, Singapore’s leisure and sporting scene is thriving and growing – the world’s only Formula 1 night Grand Prix is held in Singapore, and in 2010, we have opened two Integrated Resorts. Our arts scene is young but flourishing. There are 52 museums in this city-state and we are the top regional destination for renowned musicals and premieres of world-class productions like Phantom of the Opera and Miss Saigon. All these combine to produce a living environment that is considered the ‘Best place in Asia to live, work and play’ (Mer-

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French Entrepreneurship in Singapore

“ cer 2009 Quality of Living survey). WHAT ARE EDB’S STRATEGIES FOR POSITIONING SINGAPORE FOR THE FUTURE? Asia is the growth story of the 21st Century, and many businesses are seeking to expand their footprint in the region. As a global business city in the heart of Asia, Singapore provides a vantage point for companies to access and seize opportunities in Asia. It is here where views on the future of Asia and the growth of China and India can be discussed, with clarity that comes from being close to the action but distant enough to maintain objectivity. Singapore continues to deepen and strengthen our manufacturing and services sector and, moving forward, we will also build on our existing base to grow a more vibrant and diverse corporate ecosystem that calls Singapore their ‘Home’ in Asia. To enhance our offerings to companies, we are harnessing Singapore’s market and cultural connectivity to help them better

Singapore is a unique ‘living laboratory’ for businesses.

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understand and access Asian markets. The Singapore government plans to establish the Institute of Asian Consumer Insights. This institute will conduct research and develop tools to capture, analyse and understand data from Asia’s consumers, and inspire the creation of new products and services in Asia, for Asia. Singapore’s compact size, strong system integration and interdisciplinary capabilities also enable us to be a unique ‘living laboratory’ for businesses to conceptualise, co-create, test-bed and commercialise future-ready solutions. One such example is urban solutions, where Singapore’s urban environment provides tremendous scope for companies to test new system-level solutions. Finally, a vital ingredient of being an essential location for businesses is a vibrant talent management system – one where businesses can find and develop the necessary talent to helm operations in Asia. Singapore will continue to draw more world-class universities, and work closely with companies to attract and develop top talent.

HOW IS EDB HELPING BUSINESSES ENTERING SINGAPORE? EDB is a one-stop agency for businesses entering Singapore. Together with our sister agencies under the Ministry of Trade and Industry, EDB helps companies set up their businesses here – from finding business premises to connecting them to relevant support groups. We have 21 overseas offices around the world. Besides helping Singapore/EDB raise awareness, our overseas officers are constantly engaging with industry leaders to better understand the latest industry trends, companies’ business needs and how Singapore can add value to help them realise their strategies. F

LEFT PAGE Mr Julian Ho, Assistant Managing Director of the Singapore Economic Development Board (EDB). TOP Singapore Central Business District.

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French Entrepreneurship in Singapore

Raising Capital for Start-Ups Business Angel Network of Southeast Asia’s (BANSEA) vision is to foster a vibrant start-up ecosystem in which angel investors fund entrepreneurs who eventually become angels themselves.

BANSEA’S MISSION Established in 2001 by a group of Singapore-based angel investors, Business Angel Network of Southeast Asia (BANSEA) has an extensive network of nearly 100 members who have the experience and expertise to offer valuable insights to any start-ups. Many have private equity investment experience from various sectors and a track record in building successful companies. Their primary mission is to facilitate good deals between members and seed-stage start-ups: not just financing but mentoring and connections too. They also grow the angel investment community in Asia through educational workshops, research, conferences, and networking sessions with international angel groups. BANSEA is interested in investing in early stage ventures with scalable business models, clear competitive advantages and high growth potential. Since 2007, their members have funded a total of 35 startups and done 6 follow-on investments.

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Since 2007, their members have funded a total of 35 start-ups and done 6 followon investments.

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Then, the syndicate members will verify the statements made in the business plan, presentation and financial projections. After successful completion of this due diligence process, the syndicate will present a term sheet that defines the structure of the investment deal using industry standard terms and provisions. Finally, when all parties are satisfied with the terms and language contained in the term sheet, the deal can be executed. Successful entrepreneurs will then benefit not only from funding, but they will also have access to a network of value-added contacts and experienced professionals who can provide essential guidance for the growth and success of their venture.

THE MAIN CRITERIA TO CONSIDER FOR AN ENTREPRENEUR

are basics and essentials for every newly set up companies. They look for companies that can grow quickly and manage the scale necessary to succeed. The entrepreneur must then demonstrate a plan to generate significant profits beyond the initial product idea. Entrepreneurs must also develop on their competitive advantage; the start-up should have some proprietary features that distinguish the company from potential competitors or provide barriers to entry that prevent other companies from capturing their customers with a similar offering BANSEA invests in solutions that address major problems for significantly large target markets. The company has then to demonstrate a clear strategy to claim significant share of this market.

THE APPLICATION PROCESS BANSEA organises from 10 to 12 events in the year to meet and listen to short pitches by start-ups shortlisted by the Screening Committee. This process can be divided into five main parts. The first step is the screening of the entrepreneurs’ application; the committee reviews the business plan and decides whether it is disseminated to all members or whether the application is rejected. For successful entrepreneurs, they will then be invited to deliver a 10-minute presentation and address questions for an additional five minutes.

Even though the merits of each investment vary, BANSEA evaluates submissions according to several criteria. These criteria

A proven experience in the sector is also required. Members are looking for teams of high-quality entrepreneurs with a track record of leadership and performance, either in the company’s specific industry or in prior entrepreneurial ventures. BANSEA members typically seek returns of at least ten times their initial investment, within eight years. This level of return on investment is essential due to the high risk and likelihood of failure among early stage ventures. Thus, a clearly articulated exit strategy is essential. F Source: www.bansea.org

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French Entrepreneurship in Singapore

Be Investor-Ready Interview with Mr Sébastien Guillaud, Managing Director, Soft Venture Soft Venture is composed of senior executives with an entrepreneurial mindset and proven track record in growing, running, restructuring, raising capital for and selling companies. Thanks to his experience, Sébastien shares his insights on how entrepreneurs can efficiently raise funds.

ARE YOU CONFIDENT THAT FUNDRAISING IN 2010 WILL BE EASIER FOR ENTREPRENEURS IN SINGAPORE THAN IN 2009? Here in Singapore, the government is stepping up initiatives to facilitate the process. 88% of the professional investors who answered Deloitte’s recent Southeast Asian Private Equity Confidence Survey 2010 agreed that the investment activity will sharply increase this year. The survey also expects Singapore to be the number one destination for Private Equity funds in Southeast Asia in 2010, followed by Indonesia. At last, foreign private equity firms are expected to be the most active players in the region this year, with 56% of the deals to be financed by them. These are very encouraging signs for Singapore based entrepreneurs looking for capital. YOU WERE MENTIONING ABOUT THIS INVESTOR WHO INVESTED IN TWO COMPANIES LAST YEAR, AFTER REVIEWING OVER 2,000 BUSINESS PLANS. ARE INVESTORS “FOR REAL”? Contrary to family and friends (and fools) who might invest the first few thousand dollars (or more) out of love and trust (or naivety), professional investors are very demanding creatures. They are right to be so: 9 start-ups out of 10 won’t survive their 5th anniversary. The investors’ job is therefore to spot the very few great ventures and keep clear of the rest. Too many entrepreneurs enter their fund raising unprepared and thus signal to potential investors a wholesome unpreparedness to face the challenges of the first five years. SO, HOW CAN ENTREPRENEURS MAKE A GREAT PRESENTATION TO INVESTORS? It is not simply a question of presentation!

It is a matter of being fully investor-ready. Entrepreneurs must go back to the basics of solution selling. An investor is a sophisticated buyer and must be treated as such. His requirements need to be clearly understood early in the process. If your offering can’t match his requirements, don’t waste time sending Business Plans, and attending meetings. Work on your offering, your value proposition, your business model, your market analysis, your go-tomarket… to create more value and come back when you are investor-ready! Investors look for a compelling value proposition and a convincing execution. People are often the deciding factor. What is their track record? How diverse and yet cohesive is the team? How transparent are they? Have they clearly identified their strengths and weaknesses and how do they leverage or address them? Investor-ready projects allow their owners to sit in the driver seat during the whole process and like in any well managed sales process, be in a position to control the fundraising cycle, protect their valuation and conditions by creating a competitive environment among buyers. The best investors-ready projects keep investors awake at night for fear of missing a great and rare investment opportunity! HOW CAN SOFT VENTURE HELP AN ENTREPRENEUR GET INVESTOR-READY? Soft Venture works with talented entrepreneurs who have built very strong foundations, and are ready to be challenged on what truly

matters – their market insight, positioning, pricing models, scalability models, product offerings, technology, and financial performance – to create more value. As I was mentioning before, investors are sophisticated buyers. Soft Venture is run by entrepreneurs who have accumulated various experiences and track record in growing, running, raising capital for and selling companies. We help venture leaders focus on what needs to be done to release and maximise their company’s potential and be connected in due-time to professional investors. F BOTTOM Mr Sébastien Guillaud, Managing Director, Soft Venture.

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French Entrepreneurship in Singapore

Setting Up as an Entrepreneur in Singapore By the FCCS Business Support Unit

The applicant needs good working experience track record.

Being an entrepreneur these days takes a lot of courage. Nevertheless Singapore attracts quite a few entrepreneurs in part due to Singapore’s living and working environment as compared to other countries as well as the market which remains to be addressed.

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The question is how easy is it to set up a business in Singapore?

RECENT CHANGES TO THE ENTREPASS POLICY

THE ENTREPASS

Since September 2009 the paid-up capital must be at least S$ 50,000 (bank statement required) and the shareholding of the entrepreneur represent at least 30% within a Private Limited company. This excludes those who only wish to set up a less constraining structure such as a Sole Proprietorship.

The EntrePass is an option for people who want to setup a business in Singapore. Previously, all that was required was a comprehensive business plan showing a 3-year business forecast, and a tertiary degree from a recognised and reputable educational institute, failing which, extensive working experience should be shown as proof. However, recently the situation has evolved towards more controlled and

selective criteria as well as the need for higher returns and expenses...

For the EntrePass renewals, approval criteria have changed considerably. Conditions of being an active company securing

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third party funding and faithfulness to the original business plan (for the first renewal) have now been topped up with much more stringent criteria such as requirement of local employees quota and business turnover. Is there any other possible way to go about these stringent measures criteria?

EMPLOYMENT PASSES An alternative is to incorporate a Private Limited company with foreign shareholding with a Singaporean nominee director making it possible to apply for an Employment Pass for the person coming to Singapore to work. The criteria depend on the amount of paid up capital, the company profile, proposed activities and objectives. The applicant needs good working experience track record and a tertiary degree from a recognised reputable educational institution. Another type of employment pass, such as the Personalised Employment Pass PEP, is not tied to any employer and will be granted on the strength of an EP holder's individual merits. A PEP holder is able to remain in Singapore for up to six months in-between jobs in order to evaluate new employment opportunities and the pass is issued for a 5-year term. All in all, the good news is that in order to set up your business in Singapore your options are not only limited to applying for an EntrePass if this does not necessarily suit your activity and needs. F Should you need further information on how to set up in Singapore, please contact us at 6735 5523 or write to bizsupport@fccsingapore.com!

The French Chamber of Commerce offers on Singapore's centrally located artery Orchard Road office space to French companies in need to access the market quickly and efficiently.

Specifically, the Incubation Services represent: • Individual plug-and-play office spaces; • Telephone and Internet connection; • Meeting facilities; • Personalised reception service.

Additionally administrative and commercial support can be fitted to answer your specific needs: • Support to your local Singapore representative; • Support to the commercial development of your recently set up company through part-time representation.

The French Chamber of Commerce in Singapore (65) 6735 5523 – bizsupport@fccsingapore.com

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French Entrepreneurship in Singapore

Facing Cultural Differences Every newcomer to Singapore is confronted with cultural differences, either in his/her relation with customers or partners, or internally within office environment. Three French entrepreneurs from various sectors explain how they face these differences. INTERCULTURAL MANAGEMENT IS KEY After having been employed for several years as Financial Controller and Finance Director for various corporations, first in France then in Singapore, Mr Stéphane Benoist felt the need to be more independent and not constrained to only one industry or one company. In 1997, he set up Orchid Link, in order to provide management accounting services, operational support and strategic advice to companies and entrepreneurs starting or developing their activities in Singapore and the AsiaPacific region. Stéphane explains that the management of cultural differences is not so much an issue with his customers, as most of them are French or European, but that the challenge is more internal to the company.

I have come to realise that it is essential for us, the non-Asians, to be careful in the way we communicate. For instance, we tend to be direct and confrontational when things go wrong, that doesn’t work well in an Asian environment. On the other hand, some Westerners feel that there should not be too many boundaries between team members. Well, in Asia there is still a strong tradition of hierarchy and there should be a clear relationship chart (formal or informal) ,so everyone knows where to stand. Finally, at a deeper level, life’s expectations and goals do differ between our cultures and one, as a foreigner, has to be careful not to impose his/her paradigm to his/her colleagues or clients.”

ADAPTING TO EACH CUSTOMER “In our company we are two French, three Singaporeans, one Indonesian and one Burmese, both men and women. So you can easily imagine that cultural differences are real.

Mr Richard Le Sand has set up Le Sand & Partners, a design studio offering a full range of services including furniture, interior design and providing assistance developing from corporate identity to product. Thanks to his past experience in China, he shares his views on cultural differences.

“Obviously, cultural differences vary from country to country, but if we are talking about China, the differences are simply huge! I have had more than 10 years experience in dealing with Chinese companies and individuals and yet, despite of this, I still encounter things that surprise me. You have to be very open and flexible in your work ethics in order to meet with traditions, personalities and behaviours to make it easier for you to win the project.” As far as business is concerned, “We all have heard of bad experiences in doing business here. It is true that you have to behave differently here than in Europe to succeed.

With Asians being very careful, describing your services in detail in your business agreements (even if contracts are useless in China), having face-to-face meetings and explaining money matters when you deal with them, will prevent you from creating very uncomfortable situations.” In countries such as Singapore, Taiwan or Hong Kong, “differences are not that large as they have been exposed to Western culture for decades.”

“Business in Singapore itself is totally different since we work within the parameters accepted by both parties. I would say that Singaporean clients have a higher level of expectations than in France, asking us to provide perfect service at all times.”

RIGHT PAGE Mr Christian Hauville, Managing Director, uniQgift™. TOP Mr Stéphane Benoist, Executive Director, Orchid Link. LEFT Mr Richard Le Sand, Creative Director, Le Sand & Partners.

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French Entrepreneurship in Singapore

“ RETHINKING ITS OFFER Christian Hauville has recently set up uniQgift™, a convenient one-stop shop offering thematic gift packages replete with exquisite experiences, suitable for all occasions. The mechanics are simple: select from uniQgift™’s five different themes (Culinary, Wellbeing, Lessons, Escape, and Sports) and pick a gift box which best suits the recipient. Each box contains one gift certificate and a guide book highlighting the packages offered by partnering vendors, giving the recipient the freedom to choose from a wide range of services. WHAT BROUGHT YOU TO SINGAPORE? I was looking for an Asian country with a high standard of living and where people could speak English. I chose Singapore because I had the opportunity to partner with a Singaporean woman who was keen on the product and the project. I brought my experience in this business and she brought her knowledge of the Singaporean market and culture which is a perfect mix!

Singaporean clients have a higher level of expectations.

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IN FRANCE, THE CONCEPT OF THE “GIFT BOX” IS ALREADY FAMOUS AND MEETS A GREAT SUCCESS. HOW IS IT GOING IN SINGAPORE? It was a steep learning curve for me initially. Given Asians tend to be more pragmatic, the idea of gifting an experience rather than a tangible gift takes a bit of convincing. In addition, the notion of ‘value for money’ is always on the mind of the consumers here. We have to be careful in our choice of suppliers and make sure that all our packages deliver that value! On the retail side, the main challenge is to communicate our new concept effectively to the target audience via our marketing communication efforts – our website, press releases, advertisements and events. To date, we are achieving good sales volume through our website and our retailers. Therefore, I would like to think that our marketing communication efforts are paying off. As for the corporate side, we have met with many corporate companies, both local and international, who have shown a keen interest on uniQgift™... Innovative marketers,

who are always on the lookout for new marketing ideas, welcome the new gift idea that we are bringing to the market. It helps to differentiate their corporate branding and image. There were even occasions when corporate clients demand for complete customisation. Our team was more than happy with the new challenges! HOW DO YOU CONSIDER THE CULTURAL SPECIFICITIES OF ASIAN IN TERMS OF LEISURE? I have noticed that Asians tend to dine out more often than Europeans, in general. I guess main reasons being that the cost of dining is relatively low compared to Europe and also the fact that most Asians stay with their parents until marriage, thus, they don’t have a place of their own to wine and dine with their friends. Therefore, social gatherings in restaurants are common scenes here. We then decided to propose more products under the Culinary Theme, which represents 50% of our range of products (Trendy Bars, Degustation, Brunch, World Cuisine and Gastronomy). F

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French Entrepreneurship in Singapore

Singapore Made in France Besides being the leading tourism destination in the world, France is also famous for its luxury, high-quality products and its gastronomy. Do French entrepreneurs from the Food & Beverage industry benefit from this prestigious image in Singapore? And do they use this ‘Made in France’ etiquette to conquer customers? We approached several entrepreneurs from different sectors of activity to get their views on these questions. Mr Xavier Le Henaff opened in April 2000 The French Stall, a French bistro offering French food at good value for money. With his outside terrace, he position himself between the food court concept and the French restaurant. Thanks to his success, he could recently open an additional new venue at Macpherson Lane. Whereas The French Stall is aiming at middle-class customers, Julien Bompard is more focusing on upper-class customers. Mr Julien Bompard first opened his restaurant Le Saint Julien in September 2003. He started with a casual cuisine approach then progressed step by step to the fine dining level. He then opened in 2007 La Fromagerie, an artisanal Cheese & Gourmet shop, and in 2008, he opened Julien Bompard, specialised in European Cuisine, with French & Spanish influence, located in the central business district.

A TOUGHER COMPETITION These two professionals have several years of experience in Singapore and both notice that competition is now much

greater than a few years ago. Back in 2001, the French Stall was the first to venture in the suburban area of Singapore. “Now you can find western restaurants everywhere, the number of restaurants has doubled” says Xavier Le Henaff. Julien Bompard shares the same vision. To him “competition is the biggest evolution I have seen over the past few years. Many groups of investors or private persons have started to believe that Food & Beverage industry was a very profitable and fast-growth business. As a consequence, the sector is suffering today of this large expansion in the number of restaurants in Singapore”.

THE “MADE IN FRANCE” ETIQUETTE According to Julien, the positive impact of the ‘Made in France’ is still working, and allows to be differentiated from other western restaurants. However, he strongly believes that “all professionals need to work on it, if they do not want to be eaten. ‘Made in France’ should not only be about

luxury and grand style but much more about tradition, not only about ‘art de vivre’ (art of living) but about ‘art de faire’ (art of doing), about the differences of our regions and their local products – food but also handcraft (cutlery, patchwork), our pop music, and the friendship of the French People, ‘le temps de vivre’, ‘l’art de recevoir’ and many other very French passions”. On his side, Xavier does not think that the impact of the ‘Made in France’ is as relevant to his business model since the French Stall is positioned on the bestvalue-for-money segment. Xavier is precisely fighting against this idea that French cuisine means expensive, by offering generous portions at affordable prices. Julien agrees and adds “it is true, French cuisine does not necessarily mean expensive, as our greatest cuisine is in our terroir and in our regions”. LEFT The French Stall, Al Fresco Dining. RIGHT Le Saint Julien Restaurant, (Photograph by Swee Ling Jstudio Pte Ltd).

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French Entrepreneurship in Singapore

“ When it comes to wines, the French label is not only synonym of quality but also means passion. Andy Drake, an English national, set up in 2008 Wines2U, a business specialising 100% in French wine: selling to private customers and to a preferred list of restaurants and bars. Even though he had no direct experience, Andy had a real passion for French wines. He explains this lack of experience is today an asset: “I think not coming directly from the wine industry has actually been a major benefit because it means we run the business from a perspective of being a customer. I think sometimes businesses put policies and internal procedures in the way of doing things that are right for the customer.”

ADAPTATION AND FLEXIBILITY IS KEY The cost of rental space made Andy goes down the direct and online route rather than take a shop, where he would ultimately had LEFT Champagne Moutard, Grande Cuvée Brut. RIGHT Mr Ralph Lee, Managing Director, Rochembeaux, with their latest Bugatti diVa espresso machines.

Made in France should not only be about luxury and grand style but much more about tradition.

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to pass costs on to his customers. Also, “the tastes of local drinkers is clearly different from European – a great example is Rosé where the “foreign” palate loves our dry 5 grape Provence Rosé, the local palate prefers a Rosé d’Anjou. But I see this as the beauty of wine: no one is right or wrong. We just see it and taste it differently.”

“MADE IN FRANCE” AS SALES ARGUMENT It has been one of the key aspects of Wines2U, as their products are 100% French, “we sell ‘Made in France’ on the basis of the quality of what is in the bottle and the pride and passion of the winemakers we deal with”. Rochembeaux is specialised in the distribution of coffee machines and offers the largest selection of coffee pods in Singapore.

MORE THAN ADAPTATION: CUSTOMER-FOCUSED When asked if they had to adapt their offer to the specificities of the local market, Mr Ralph Lee, explains that “everything we do is customer-focused, from operations to

marketing. We constantly review our practices and adapt them to the best interests of our clients”.

ANSWERING ALL THE NEEDS THANKS TO A WIDE RANGE “We want our customers to be able to choose from a wide variety of coffee-drinking experiences. We have introduced more gourmet, aromatised coffees and organic coffees. Some of the products we have selected also support Fair Trade, whereby producers are guaranteed a fair and reasonable price for their work. Our latest Bugatti diVa espresso machine comes in a stunning array of colours, with the possibility of embellishment with Swarovski crystals, real leather or even gold.” Rochembeaux deals mostly with corporate offices and increasingly with the Food & Beverage industry. Their type of concept is increasingly popular as it delivers a consistent quality and is hassle free. When asked if being French is an asset in their business, Ralph explains that “it helps to a certain extend understanding more easily European practices and products. It also might add some credibility about our knowledge of the product.” F

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French Entrepreneurship in Singapore

Selecting the Right Distribution Channel Interview with Ms Caroline Simon, General Manager, Wine Connection; and Mrs Shinobu Fujiwara Glenard, Director, Delicia

Opening a retail outlet is challenging, it involves a lot of implications, decisions to make and financial support. Before opening an outlet there are many things to do, steps to consider, and there are risks involved.

Wine Connection, founded in Bangkok in 1998 by Mr Michael Trocherie, offers a range of excellent value for money and affordable wines. Ms Caroline Simon, General Manager, shares with us her views on the development of Wine Connection in the Island-State.

step by step into a “Deli & Bistro” in 2008, involving self-import and retail of food products (deli / cheese / cold cuts / antipasti) and restaurant development. To date four of those concepts have been opened (1 in Singapore and 3 in Thailand).

WHAT IS WINE CONNECTION’S DEVELOPMENT STRATEGY?

HOW MANY POINTS OF SALE DO YOU HAVE IN ASIA?

1. Sustainability: Each shop opened must be profitable enough to sustain our head office and generate profit for future growth.

Now present on 3 markets in Southeast Asia, Wine Connection is the largest independent wine retail chain in the region, with 26 stores as of today: 19 in Thailand, 6 in Singapore and 1 in Vietnam.

2. Diversification: Wine Connection started as pure importer and distributor of wine through on-trade and retail sales. Since 2005 it ventured into the Food & Beverage business by opening wine bars alongside some of the newest outlets. The concept is simple: you choose your wine in the shop and enjoy it on site at retail price. The wine bar concept evolved

ANY NEW OUTLET OPENINGS PLANNED? There is no plan on quantity but more on quality. To generate growth, expansion is key, but not at every cost. For Singapore we could probably find space for a couple more retail outlets.

DID YOU ENCOUNTER DIFFICULTIES AND HOW DID YOU OVERCOME IT? In the service industry, human resources is the most challenging. You need to recruit motivated staff, train them (most of our staff do not know much about wine when starting) and retain them in a developing and competitive economy. Even after 5 years it is still a challenge, but we try to give incentives on results, much more training and team building. COULD YOU GIVE US THREE MAIN POINTS TO CONSIDER WHEN OPENING A POINT OF SALE IN SINGAPORE? Location, location, location! The challenge becomes more difficult when you couple retail and F&B location requirements. For retail (of wine at least) the compulsory criteria are: easy car park, visibility, high traffic or related tenant mix. For F&B on the other hand we need al fresco possibilities but availability is poor (or subject to lots of regulations). F

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French Entrepreneurship in Singapore

Besides physical point of sales, e-commerce has been booming for the past few years and customers are now getting used to consume online. Today, with an increasing average online spending, the fast development of Internet infrastructures, an online store is clearly an alternative to a physical point of sales.

Delicia (www.delicia.com.sg), an online shop offering fine food ingredients and delicacies for the Singapore market is one of them. Mrs Shinobu Fujiwara Glenard, Director, explains the reasons why she has privileged online sales.

that of a physical shop. An online based shop seemed a good way to test the market for a period of time with low risk, in order to build up our brand, product range and reputation, before possibly opening a physical shop later.

WHY DID YOU PRIVILEGE ONLINE SALES VERSUS OPENING A POINT OF SALES?

Third, the Internet is a highly increasing sales media, and the market in Singapore was not very mature. I saw an opportunity for future growth, as the “Internet generation” is reaching the age where they will be looking for these products.

There were multiple reasons for opening an online shop. I’ll try to go through the main ones. First, I regularly had to run around in taxi to several gourmet shops in order to find everything I needed and was often not finding it. This gave me the idea that there might be a number of people like myself, looking to conveniently order in one go at any time of the day or night, while also saving time and transportation costs. Second, the investment required to open and run an online shop is much lower than

WHAT ARE THE MAIN DIFFICULTIES YOU ENCOUNTER IN SELLING ONLINE? It is all a bit new for me, and also I am a people person. It is difficult for me not being able to deal face to face with the customers. A sort of dilemma you would say, giving the nature of online sales. A lot of customers also like to physically look at the products, so replacing that experience with a good description and attractive pic-

tures is very tedious and time consuming. Another area of difficulty concerns the specific marketing / advertising required for online business. When you have a physical shop, you always get a flow of passer-by customers at the least. On the Internet, you need to find out how to attract people, and search engines take a long time to reference you in their top pages. For example we recently ran into a technical software problem that was generating a reference loop, and we think we lost some ranking as a result on Google. It takes time to be known. The delivery process is also a bit complex and tedious, and we have had some limited issues, but we are working to make some significant improvements for our customers in the coming few months. But to end on a positive note, I must say those difficulties are quickly forgotten and replaced by the pleasure of serving our customers and thinking they can enjoy some wonderful meals thanks to us. F

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May 2010

French Entrepreneurship in Singapore

How to Turn Crisis into Opportunity? Contrary to popular belief, economic turndowns can produce significant benefits. If we look on the bright side, a crisis may bring several opportunities, such as increasing competencies through trainings, finding alternative markets, rethinking its strategy, and why not setting up its own company? One can certainly draw lessons from the following dynamic French entrepreneurs and their entrepreneurial stories, 1969idea, YabuKa and L&P Management, who managed to take advantage of the crisis and turn difficulties into a competitive advantage.

“

This is the ideal period to review the website’s efficiency.

My first customer, a French company, needed improved and locally created tools in line with the prestigious global image. This drove me to seek local talents. The difficulty to find an ideal and affordable match for both creative and technical companies ended with the creation of my own structure. I work with both Singaporebased and remotely located programmers and designers for the needs of websites, logos and advertising. DOES THE CRISIS IMPACT YOUR BUSINESS DEVELOPMENT?

A time of recession forces companies to be more creative and to rethink the standards of their business. It is the right moment to rethink its communication strategy and refocus on efficient online tools. Mr Fabien Raveton, Director of 1969idea, shares with us his views on this matter. WHAT PUSHED YOU TO CREATE YOUR COMPANY DURING THE ECONOMIC DOWNTURN? The creation of 1969idea Web Design followed a chain of opportunities, regardless of any economic trend which might not be the best factor to decide whether or not one should start an activity in Singapore.

Local companies need to revamp their online messages. Rethinking content and user experience definitively takes time. This is the ideal period to review the website’s efficiency, not once the market peaks up again as the risk to face well prepared competition grabbing online market shares is higher. HOW DO YOU ADAPT YOUR STRATEGY? There is an increasing demand for simpler, yet content rich websites. With the swift adoption of Facebook, YouTube, Twitter, LinkedIn and other social networking portals, anyone building a website now knows how to interconnect with those major actors. This tremendously helps to build the

”

community and prospects confidence. Those are no casual web-based toys as many would think but serious marketing assets for the web developers’ community. Who nowadays has never been on any of those sites if not paying them at least a few visits monthly? DO YOU NOTICE A CHANGE IN YOUR CUSTOMERS’ BEHAVIOURS? No company can bet on any market if they neglect the online support. More and more companies are seriously looking at how effectively is their brand displayed on the web and how much of the time spent to develop content finally reaches prospects and converts them into customers. Once the website is up and running and that users have experienced the flexibility and ease-of-use of Content Management Systems based websites, they are definitively more incline to start ‘pulling’ their registered users to the frequently updated content using e-marketing campaigns or e-newsletters. Customers now understand the reality of the web’s best practice, search engine optimisation and marketing. A great content is useless if not brought to the hands of the visitors in a gift wrap. F

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May 2010

YabuKa helps companies to implement green solutions & sustainable policies in order to reduce costs, wastage & environmental impact. Mrs Christine Reuther, Managing Director, created her company with the aim to combine profits and environment. HOW WOULD YOU POSITION SINGAPORE IN GREEN MANAGEMENT? The government is very aware of environmental stakes while few companies set up solutions. A recent survey in Europe showed that the main reason why companies do not implement green solutions was a lack of information.

French Entrepreneurship in Singapore

“

Green management is a fantastic anticrisis tool.

”

WHAT ARE THE CONSEQUENCES ON YOUR DEVELOPMENT STRATEGY? Recently, a COO of a bank told me that 3 tons of papers are used every year in his offices in Singapore. Yabuka wants to be active, and provides pragmatic solutions that are immediately implemented showing an immediate result. Too often, only talks are organised but I think action is a priority so that Managers can be convinced by the efficiency of green management.

DID THE ECONOMIC DOWNTURN INFLUENCE YOU ON SETTING UP YOUR BUSINESS?

DO YOU NOTICE A CHANGE IN YOUR CUSTOMERS’ BEHAVIOURS?

Actually, I think green management is a fantastic anti-crisis tool. “Do better with less” is exactly what companies need to face this global crisis. It works because it reduces the costs, then identifying all the wastage that can be eliminated is an opportunity for any company.

More and more customers are aware of environmental issues, and are expecting more transparency on how and where the products they buy have been made. For the services, a lot of examples show us that the situation is becoming the same. Today we can see green loans, green stock

“

A crisis presents an ideal opportunity to improve your staff’s skills and enhance their knowledge.

”

HOW DID YOU TAKE ADVANTAGE OF THE ECONOMIC DOWNTURN?

Despite the downturn, companies need to keep investing on their human capital. As the activity slows down, companies must take advantage of this period to train their staff in order to up-skill and retain them. Mr Amine Delage, is Managing Director of L&P Management, a specialist and expert in customised training and development programmes to aid managers seeking to acquire fundamental skills in leadership and management.

options; Dow Jones has even launched in 1999 the “Dow Jones Sustainability Global Index” for companies’ leader in term of sustainability practices. F

In order to optimise time and value its human asset, companies have to invest on their human capital. A crisis presents an ideal opportunity to improve your staff’s skills and enhance their knowledge. In addition to improving your employee’s skills, it also brings cohesion, and allows companies to mobilise and develop their business performance. I applied this principle to myself, I completed my MBA in Hospitality & Tourism and I am currently attending training to attain my ACTA (Advanced Certificate in Training and Assessment). To develop my business, I am actively networking with associations which I deem have potential relevance to the pro-

grammes I offer. Also, I consistently make cold calls to introduce my programmes and send out Email Direct Mailers (EDMs). DID YOU NOTICE A CHANGE IN YOUR CUSTOMERS’ BEHAVIOURS? Training and development are still considered as an expense in many small and medium companies, whereas bigger companies will precisely consider it as an investment. Investing in its people, in their competencies is indeed an investment and cannot be only considered as an expense. As far as my activity is concerned, I faced some cancellations and postponements of training programmes, but as L&P Management offers a large variety of programmes and courses suitable to all levels, I remain confident for the future. F

COVER STORY

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French Entrepreneurship in Singapore

May 2010

An Efﬁcient Communication Goes Through Social Media Interview with Mr Julien Arnaud, CEO, Edgilis Edgilis provides a wide range of consulting services to a diversified client base that includes multinationals, technology blue-chips and government. They recently decided to rename the company; Julien explains the reasons and shares his views on communication tools. WHAT ARE THE MAIN REASONS WHICH BROUGHT YOU TO CHANGE NAME AND BRAND? The change of name is a coming of age for the company. Over the past 4 years Edgilis has practically doubled in size every year, which means we now have a much broader range of services to offer alongside our original core technology consulting solutions. So to encapsulate our new direction of opportunity consulting through intelligent application of innovation, we changed our name to Edgilis, which is derived from the words “edge” and “agile” which is an expression of the company’s vision and values. WERE THERE ANY ADDITIONAL BENEFITS FROM THIS REBRANDING EXERCISE? Rebranding ourselves gave us an excellent opportunity to reflect on our internal organisation, as well as to refine our vision,

mission as well as our client service philosophy.

WITH LITTLE FUNDS WHO WANT TO COMMUNICATE?

IN YOUR COMMUNICATION STRATEGY, DO YOU USE SOCIAL MEDIA?

I would say not to underestimate the power of social media and its potential to expand your business no matter what industry you are in. Everyone uses the internet for their business whether it is for research, job searches or for transactions. Getting your emails read is imperative to a successful business today, and the use of e-newsletters and supporting web resources is invaluable. I believe spending time on the design of your website is essential, because of the importance of first impressions. You don’t have to spend a lot, if any, money on social networking. There are thousands of blogs, forums, groups that are related to your industry. Become members, subscribe and utilise to full potential. For example, LinkedIn is a great platform that has really made it so much easier to build your network, for those who know how to use it.

We do use social media, and we have re-designed our strategy to make the most of new platforms in 2010: we have a business blog for our employees to share news and experiences. We have built communities of followers on Facebook, LinkedIn and Twitter. These platforms allow us to promote a community beyond the geographical boundaries, since most of our employees are travelling outside of Singapore on a regular basis. Our strategy for tomorrow is to train our employees to use video more often, so that we can continue to grow our online presence and influence decision makers with the best media available. WHAT WOULD BE YOUR ADVICE FOR YOUNG ENTREPRENEURS

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COVER STORY

May 2010

French Entrepreneurship in Singapore

The Ability to Adapt to a Cyclic Market Interview with Mrs Marie-Christine Amestoy, Managing Director, L’Agence, and Mr Jean-Marc Deromedi, General Manager, Aprim Interior Design Singapore has a fast-growing property market, and it may bring some difficulties or constraints at least for companies whose turnover is directly impacted by the cycles of this specific market.

“

The office property market is going to go up.

”

L’Agence Singapore, founded by FrancoDutch team Mrs Marie-Christine Amestoy and Mrs Karlijn Perben is a property search and relocation company with a difference.

pore from their country of origin, the French find it hard to relate to 99-year lease, a 999 (“but what happens after?“), freehold, strata, etc.

Long-term expatriates in Singapore, but also with the experience of living abroad for the last twelve years, the two founders believed to be well placed to evaluate and understand the needs of their customers.

THE REAL ESTATE MARKET IS A CYCLIC ACTIVITY. WHAT IS THE IMPACT ON YOUR COMPANY?

WHO ARE YOUR CUSTOMERS? Although we target primarily our own French and Dutch communities, as we relate to these more easily, we also have clients of other nationalities through word of mouth. As we work both on the residential and commercial property market, renting and buying, we interact with diplomats, private and corporate clients looking to rent or buy property in Singapore. Furthermore, L’Agence also deals with expatriates and Singaporeans interested in buying property in France, through our partner in France, Rivard Immobilier. HAVE YOU IDENTIFIED SPECIFIC NEEDS FROM FRENCH EXPATRIATES? There is definitely a need for some kind of guide in French explaining property guidelines for the Singaporean market, including a translation of the most common kinds of ownerships here. As opposed to our Anglo-Saxon friends, who have brought these concepts to Singa-

Obviously our activity is directly linked to investor‘s confidence levels as worldwide crises affect the will to invest in property here. It also heavily depends on company budgets as it impacts on the housing budgets allocated the employees. There has been a sharp decline with some well-established companies, whose preferred price range for housing has fallen by as much as 30%! But this mainly affects newcomers though: wellestablished employees in Singapore tend to be able to live in the same kind of accommodation than before the recent changes. Working with expatriates and their families means that we have two peak seasons (May to July and January). However we manage to balance this by increasing commercial transactions (offices and warehouses mainly). And because Singapore has become significantly cheaper for commercial investments and office rentals (from 5th place last year to 18th place wordwide), we should continue welcoming more new companies. TOP Mrs Marie-Christine Amestoy, Managing Director, l’Agence. BOTTOM “Black & White” bungalows.

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May 2010

Created in 1989, Aprim Interior Design is specialised in design consultancy and turnkey projects for offices, hotels, boutiques and counters. The scope of work isexpressed in design concept, project management or general contracting. Most of the time, Aprim takes whole projects as turnkey projects which includes all scopes of works ranging from the original idea to the handing over of a finished product. The global economy has indeed a direct impact on this business. According to Mr JeanMarc Deromedi, “if the market prices are very high, people tend to move to smaller units in order to save space and/or to less expensive areas. If the prices go down, they will try to forecast their expansion by securing

French Entrepreneurship in Singapore

bigger units and/or move to more prestigious premises to show their company’s strength.” HOW DOES APRIM FACE THESE CHANGES? In our core activity which is office design and renovation, design is less important in a "down period". For us this means our designers will concentrate more on technical solutions to help our clients save costs, which is of course very much appreciated by them. This is only natural to us and represent the reason we nowadays have real architects as designers. We are a mature structure and continued adaptation is fully part of Singapore's SMEs of doing business. IF WE FOCUS ON THE OFFICE PROPERTY MARKET, WHAT ARE THE MAIN TRENDS IN SINGAPORE? For the office property market the main trend is that every one knows it is going to "go up". No matter what happens on a dayto-day basis, Singapore will grow. As such, our recommendation to our clients is to secure long leases with options to renew with a limited increase. If and when possible, we advise them to purchase as we really believe Singapore as areliable economy with great dynamism and incredible potential. F TOP Boardroom at regional headquarters. CENTRE Mr Jean-Marc Deromedi, General Manager, Aprim Interior Design. BOTTOM Eco-food retail outlet.

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COVER STORY

May 2010

French Entrepreneurship in Singapore

Bringing the French Culture to Singapore Interviews with Mrs Sabrina Zuber from Arsmedia and Mr Nathalie Ribette from Sing’Theatre For the past few years, we have seen the fast growing development of cultural events in Singapore. Two specialists give their views on this evolution and on the impact of French culture in Singapore.

Arsmedia is a consultancy agency providing a collection of services ranging from being artists’ agents to the management of (arts) events. Recently, Arsmedia has even produced its first show: the musical comedy "Belle Epoque".

decade. According to her, the government has recognised the social, economic and national importance of arts and culture, and has consequently pumped hundreds of millions into the arts over the last years.

THE FRENCH TOUCH Sing'Theatre is a non-profit (registered Charity) professional theatre company with a French Touch producing English-language shows with Singapore-based artists drawing on the French cultural heritage.

A BOOMING CULTURAL SCENE Since its creation in 2004, Arsmedia has seen the cultural scene in Singapore develop and even literally booming! Mrs Sabrina Zuber, Managing Director of Arsmedia, noticed a high demand and interest towards all artistic disciplines with a growing audience. Mrs Nathalie Ribette, Artistic and Executive Director of Sing’Theatre, talks about “a multi-cultural arts explosion”, with in particular the performing arts scene which has been thriving nationwide for the past

Sabrina notices that French dance and music events are regularly staged, finding a warm welcome by the local audience. Whereas for Nathalie, “not only do Singaporeans love French luxury brands and French-speaking singer, but they also enjoy French culture and language.”

ADAPTATION Our two specialists share the same opinion, saying that adaptation and flexibility are necessary in order to succeed. Nathalie explains she needs to adapt her choices on cultural differences all the time, not only in terms of subject but also in terms of how the subject is treated. As an anecdote, she told us: “When I directed “Brel is alive and living in Paris” in 2008, I had to adapt what I originally had in mind in order to reach out to the local audience. I hadn’t imagined putting in so much humour and comedy but thanks to the Singaporean choreographer George Chan, I understood that through laughter, one can bring across serious ideas.”

PROMOTION Arsmedia and Sing’Theatre use several channels in order to promote their events efficiently. Arsmedia starts its communication campaigns through the distribution of flyers in all key points of town. Usually it makes use of the ticketing system Sistic, which, other

than ticketing services, offers a wide network of information. In addition to these two more classic channels, there is the use of ZoCards, promotional cards distributed island-wide. There is a continuous search for new ways of creating a buzz using Facebook and other new advertising media. Sing’Theatre reveals its promotion campaign used in the latest production called: “A Singaporean In Paris”. To promote such an event, they advertised in the press, with ads in targeted newspapers, and distributed 100 000 flyers through their partners (SISTIC, Passion Card, Cold Storage, Hediard…). Like Arsmedia, Sing’Theatre also used electronic media, such as the SISTIC website and email blasts to their own and partner databases. Additionally, a media relation campaign was launched over a period of 3 months before the opening in order to enjoy free media coverage. F TOP Mrs Nathalie Ribette, Artistic and Executive Director of Sing’Theatre. BOTTOM Mrs Sabrina Zuber, Managing Director of Arsmedia.

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COVER STORY

May 2010

French Entrepreneurship in Singapore

A Leisure Island With the government's strong objective to promote the leisure sector, Singapore created incentive schemes to attract investment in this field. We interviewed three French entrepreneurs who set up their own business related to the leisure sector in Singapore as we wanted to get their views and experience of Singapore as a Leisure island. Yoga is a worldwide cultural phenomenon that has taken the West by storm because of its healing power and also because of people’s interest in the spiritual aspect of life. Mrs Sandrine Laborde identified Singapore as a great place to set up a business and found out that although Singapore already had quite a number of Yoga centres, there were no Iyengar Yoga centres yet at that time. Sandrine explained that “being French has always been an asset for me. It was especially the case in my previous experiences in Japan but also Hong Kong and today in Singapore. Asians have a lot of respect for France and the French, for its refinement and culture. Moreover there are so many French in Singapore and they, including myself, tend to prefer someone whom they can talk to in their own language especially when it comes to health.” Today, she teaches Yoga to French students, who account for 20% of all her students, followed by Singaporeans, Japanese (because she speaks Japanese), Indians and all other nationalities. Mrs Stéphanie Besse brought a completely new concept in Singapore: Forest Adventure. Commonly known as “Accrobranche” in France, Forest Adventure is an aerial course built in trees comprising ladders, bridges, swings, nets, trapezes and slides where participants move unaccompanied, from tree to tree, 5 to 8 meters above ground. One big challenge for Stéphanie was to find a piece of land. “We needed 1.5 hectares of mature forest in a city-state. National Parks was the obvious organisation to talk to as they manage all public parks in Singapore. As it turned out, we were lucky to be at the right place, at the right time and made an initial proposal to NParks and PUB just as they were looking at the redevelopment masterplan of Bedok Reservoir Park.

“

Being French is certainly an asset.

NParks were always really excited and supportive of the project as it well reflected their vision of Green Activity as a lifestyle.” Forest Adventure is now very much a “thing to do” in Singapore. And they are focusing on reaching out to corporate organisations looking for a venue for a team outing/teambuilding. Mr Pierre Bourjade set up Football Passion Academy, a football academy that promotes the beautiful game of football. The Academy manages, organises and conducts football events and activities. Using their own experience, Pierre Bourjade and his staff bring health through sport. Football is indeed popular in Singapore, especially through the English Premier League (EPL). “Even though the French championship is not as popular, it is thanks to our great French players who are playing in the EPL and our national team who won the Worldwide Cup in 1998, that we are also quite famous here.” Moreover, since last February, they have a French team, Etoile FC, which enrolled in the Singapore League. In March they won the Singapore Cup in the Jalan Besar Stadium. There were“blue jerseys” all over the place.

“We would therefore certainly consider that being French is definitely an asset for developing football in Singapore, just like other team sports like of rugby and hand-ball.” The Academy’s philosophy is that football is a school of life. Football is a team sport that requires and teaches people – kids and adults alike – to work together, respect one another, fight and work hard to achieve results. F

”

FROM TOP TO BOTTOM Iyengar Yoga Class. Forest Adventure is now very much a “thing to do” in Singapore. At the Footbal Passion Academy.

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May 2010

French Entrepreneurship in Singapore

Singapore, a Good Place to Start An interview with Mr Jacques Pickering, Managing Director, Pickering Pacific Pickering Pacific advises clients on mergers & acquisitions (M&A) transactions in Asia. The team is dedicated to serving clients in a professional and transparent manner and strives in becoming their reliable M&A partner in the long term.

WHY DID YOU CHOOSE SINGAPORE TO SET UP YOUR COMPANY? The initial choice of Singapore was more of a lifestyle choice. My wife is from mainland China and Singapore appeared to us as a good compromise between East and West! Of course, the ease of starting a business in Singapore and the reputation of the country for transparency and the absence of corruption were also critical for a financial business like Pickering Pacific.

“

However great the strategy of the startup company and the business idea behind it, it will be modified in contact with the realities of the market place.

”

TAKE ADVANTAGE OF THE ECONOMIC DOWNTURN TO GAIN NEW CUSTOMERS?

WAS SUCCESS IMMEDIATE? Success was quick. We had our first clients very soon. Actually, one of the first clients, a French group, came after I had the chance to give a talk at a FCCS event during the first month after the company’s creation. I had previously attended a committee meeting of the FCCS and the chamber was looking for speakers. In many ways, I was very lucky. It usually takes a long time to find the first clients in a service business. Ideally, entrepreneurs should try to have start-up clients that they know will use their services before they set up their business. However, this is not always possible. WAS FUNDING AN ISSUE? It was not in my case, as I had worked in senior roles beforehand and had suitable savings. Very quickly, the business became cash flow positive. I know however that funding is an issue in many cases. Despite significant recent public and private efforts, Singapore does not yet have the vibrant angel investor and venture capital community that could help finance new ventures. AS A SPECIALIST OF M&A, DID YOU

Some of our competitors have suffered or even disappeared during the downturn. This has helped us. We were careful not to overextend ourselves when the economy was doing well. WHAT WOULD BE YOUR ADVICE FOR A YOUNG ENTREPRENEUR WILLING TO SET UP HIS COMPANY IN SINGAPORE? Singapore is a good place to start. However, succeeding is difficult. Many new ventures die in the first few years. The entrepreneur should understand what starting a business entails, including a lot of hard work and the willingness to carry out at one stage all of the functions of the company. I often joke that I am the IT manager of my firm and even the delivery man at times! WHAT WOULD BE THE MAIN MISTAKES TO AVOID? I believe that however great the strategy of the start-up company and the business idea behind it, it will be modifed when in contact with the realities of the market place and the feedback from potential clients. It would be a mistake to over-invest in the business before that feedback

has been understood and the strategy adapted. When I started, I had a clear idea of the service that we should offer: the execution of M&A transactions. However, clients also asked for other services like searching for acquisition targets which we did not really offer but could indeed provide and which today represents a very large part of our business. F

BOTTOM Mr Jacques Pickering, Managing Director, Pickering Pacific.

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COVER STORY

May 2010

French Entrepreneurship in Singapore

Flexibility is Key An interview with MrPascal Petitjean, General Manager, Partex International Partex International is an independent company registered in Singapore, dealing with Airstar lighting balloons used for special events (exhibitions, product launches, advertising and promotions), rescue and safety, construction and civil works, and for shooting/filming of TV commercials and movies. Partex works through a network of local agents in the Asia-Pacific region. They have recently opened a wholly owned Airstar Japan KK office in Tokyo.

WHY DID YOU CHOOSE SINGAPORE TO SET UP PARTEX INTERNATIONAL? I first arrived in Singapore in 1987 with my colleague Jean-Claude Rabouin to manage a subsidiary of Group Petitjean. Later in 1992, when the company wanted to bring me back in France, I decided to stay here and to set up my own company; Partex International.

â&#x20AC;&#x153;

In a crisis, there are also opportunities.

with a worldwide reference, paving the way to new markets. DID THE ECONOMIC DOWNTURN AFFECT YOUR ACTIVITIES AND DID YOU ADAPT YOUR ACTIVITIES?

WAS SUCCESS IMMEDIATE? It took some time and a lot of work, but as we offered a revolutionary concept, we finally took some important market share in countries reputed as difficult to enter. WHAT DIFFICULTIES DID YOU ENCOUNTER? I think of one issue in particular, finding and retaining good employees. It is an issue in Singapore, where unemployment rate is low and turnover is high, you need to give your employees incentives and bonuses, and especially you have to involve them in the life of the company. COULD YOU DEVELOP ON YOUR PARTNERSHIP WITH FORMULA 1 IN SINGAPORE? We were lucky the first Formula 1 race in Singapore was running by night! The organisers were looking for a company able to create an atmosphere over 60 hectares. We jumped on this opportunity, even though times were challenging and this involved financial risks, as we had to invest in 600 balloons to light the event. Thanks to this first success, we then renewed the contract for four years, and this allowed us to reach another dimension,

The crisis did affect our business; we had to react as everybody does in order not to disappear. The advantage for a small structure is the capacity to over-react, we indeed have a greater flexibility than bigger companies, which allows us to move forward and to stick to the market needs. In a crisis, there are also opportunities. This led us to look for new markets we would not have been going into otherwise. For example, as it was difficult on the segment of events, we focused on the market of construction works, and we created a new offer to light contractors jobsites by night. Instead of selling, we rented our balloons, and we packaged a new full service offer, including generators and hydraulic towers. This decision involved investments (and again financial risks), as we had to purchase new equipment, but, in the end, we widened our range of activities. WHAT WOULD BE YOUR ADVICE FOR A YOUNG ENTREPRENEUR WILLING TO SET UP HIS COMPANY IN SINGAPORE? Take it seriously, do not think it is easy, work hard and have a good offer. Also, it is very important not put the cart before the horse. By this, I mean you have to follow steps in the development of your company.

â&#x20AC;?

Finally, I would say you need to have enough cash flow to overcome crisis, and you have to be flexible and listen to your customers in order to stay aware of new opportunities. F TOP Mr Pascal Petitjean and his team from Partex International. BOTTOM Lighting tower at Resorts World Sentosa.

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FCCS HR & TRAINING SERVICES

May 2010

Training Sessions

Enhance Your Skills with Relevant Trainings Hiring expectations in Singapore has accelerated in the ﬁrst quarter of 2010. More companies are now keen on providing mentoring and training programmes. According to a recent report from Hudson, 78% of respondents expect their organisations to perform very well in 2010. In this dynamic, the FCCS Human Resources department launched a new train-

ing catalogue for the year 2010. Thanks to our members’ feedback, we created a speciﬁc programme with 20 sessions scheduled all over the year.

From Personal Development to Management and Professional Skills, trainees obtain all the keys to succeed in their professional development.

We worked in collaboration with high-qualiﬁed training providers on these modules. Those sessions, from half-day to two-day, are suitable to all levels of your organisation and for its various departments.

Since the beginning of the year, we have successfully conducted six sessions on different topics. Check our online catalogue and register to one of our next sessions! F

GETTING THE BEST FROM YOUR CAREER BY REVITALISING YOUR CV AND MAKING AN IMPACT IN INTERVIEW "I didn't expect that training to be so helpful! I felt a bit demotivated after being dismissed last October (partly due to the crisis) after 3 years and a half in an English company in Singapore. I came out of this training with a positive feeling of my career, my history and my choices. It will deﬁnitely have a good impact on my future interviews." Florence Pouliquen

TIME/PRIORITIES MANAGEMENT AND DELEGATION: INVEST YOUR ENERGY FOR BEST RETURNS "Even if we know that delegation, prioritisation and organisation are absolutely critical to manage time effectively, we have the annoying habit of forgetting it easily. It was really stimulating to learn (again) how to invest our energy for the best return. And it was refreshing to hear (again) how to move from a time centered attitude towards a tasks/goals centered attitude. I really enjoyed it." Hervé Thieblemont, Head of Field Crop Seeds APAC, Syngenta

TIME/PRIORITIES MANAGEMENT AND DELEGATION: INVEST YOUR ENERGY FOR BEST RETURNS “The Time Management workshop organised by the FCCS was very useful for me. I came back to my ofﬁce with very efﬁcient, ready-to-use tools to save time!” Nathalie Ribette, Artistic and Executive Director, Sing'Theatre

CSR AND SUSTAINABLE DEVELOPMENT - HOW TO GET STARTED? - ENGAGING WITH STAKEHOLDERS "I wish to thank Joelle for her enthusiasm and clarity received during the CSR training. Full use of this additional impulse is planned within AFKLM South Asia to marry corporate governance and human values. A really worthwhile and sustainable investment!" Caroline Sirieix, Human Resources Manager, Air France KLM

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FCCS BUSINESS SERVICES

May 2010

Tradeshows in Singapore

Second Edition of the French Pavilion @ IDEM 2010 IDEM (International Dental Exhibition and Meeting Singapore) is the foremost dental trade and knowledgesharing platform in Asia-Pacific.