Hello All

Just to provide a brief summary of today's meeting.

1. We will participate the competition as a group of 8. Felyna, Nagoor, Biying, Ruth, Jinrui, Kelvin, Tenghui and I.
Pls sign up individually for the competition at www.startup.org.sg before the next meeting. We can then form a team with our individual accts.

2. Next meeting will be on next Fri 10 am, 29 dec.

3. We also went through issues about the executive summary.

Objective of executive summary is to present ur business idea clearly in a focused manner to potential investors in 2 pages.

Basically it will have to include the following:

1. What is the Business?
a. The Market
b. Product
c. Value Proposition (Unique Selling Point)

2. Who are your competitors?

3. Describe the profile of ur team members and ideal board of directors

4. Financials how much to make break even? How much profits you expect to make based on reasonable assumptions.

5. How are u gonna run ur biz

6. Why shd the investor invest in you and wat is ur exit strategy?

4. Finally we went thru each others ideas (I will describe them in a separate posting)