Want to Start Up Something? Be Prepared to Fail.
By Yeoh Siew Hoon
Sunday, 19th June 2011
Something entrepreneur extraordinaire Morten Lund said the other day made me think – he said that by promoting entrepreneurship, you are promoting failure.

Stopped me in my tracks a bit because one of WIT's mission is to promote entrepreneurship and innovation and I guess I didn't see it from that side of the prism.

The CEO of Everbread, who spoke at WIT Conference last year, said seven in 10 startups fail so perhaps, he suggested, some government grants should cover counseling or post-failure phases instead of just covering the launch stage.

I reckon that's a good idea. It reminds me of a story I heard that there's this big gaming tycoon who makes money from casinos and then his wife has a counseling practice to heal the losers.

Anyway, yesterday, I was at Echelon 2011 – and will be again this afternoon moderating a session on travel investments – and I've never smelt so much entrepreneurship sweat in one room. (There were more men than women, so I use the word ‘sweat' deliberately.)

Yes, the big brands were there – Nokia, Microsoft, Yahoo – but almost everyone I met was working on a startup and were all fired up on their idea.

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