By Yvonne Cheung (25S03S) and Meryl Lim (25S05A)
Images courtesy of Raffles Photographic Society
“You’re here because you want to be an entrepreneur. That’s a really bad idea.” Shin Wee Chuang, Founder and CEO of Pand.ai, declared to the room of bright-eyed youths.
Sitting in to the Entreweek Speaker session, the experienced Mr Chuang shared his journey, revelations, and the hard truths behind entrepreneurship and a business in Artificial Intelligence. His lessons empowered and equipped the sea of curious minds on how to dive into the bottomless pool which is entrepreneurship.
Tamilini (25S03R), an attendee of the speaker session, commented: “It was a very enriching and eye opening session because I’ve never thought about the implications of generative AI when it comes to the future as much as I did today.”
This is exactly what the Raffles Entrepreneurs Network (REN) aspired to achieve with Entreweek 2024. Surrounding the exceedingly relevant theme of AI and Technology, Entreweek set out to serve as a platform for social enterprises to showcase their own causes and beneficiaries to create awareness for their cause, while giving Rafflesians a chance to learn about and pursue entrepreneurship.
More specifically, when asked why the theme of AI and technology was chosen, Serene Zhang (25S06H), a Student IC, explained: “The AI and technology of today are driving new industries and transforming existing ones whilst creating new job opportunities. […] Hence, we thought of choosing this much-relevant topic to allow Rafflesians to know more about AI and its uses, as well as the dangers that come with it.”
Putting the Fun in Fundraising
Entreweek kicked off with exciting game booths prepared by REN as well as various external vendors enthusiastically showcasing their handmade products, garnering lots of attention and patronage from Rafflesians and Staff members alike. TeddyThotz Social Enterprise is just one of the various vendors who set up an eye-catching, colourful display of hand-crocheted keychains, earrings, bags, and stuffed animals.
To build on the festivities, other social enterprises included Alfya Atelier LLP, Unpackt, Ugly Food, and ACRES. Ranging from solid perfumes to blankets, Rafflesians could choose from the wide array of items on sale, while contributing to a good cause. Among the various pop-ups, Unpackt was definitely one to look out for, a lifestyle concept store and grocer which aimed to promote a zero-waste lifestyle through sustainable and waste-free packaging. Meanwhile, the Ugly Food Pop-up Grocery targeted food waste by selling unconventional looking produce that would have otherwise ended in the garbage pile.
After much careful deliberation by REN, these social enterprises were selected with a common criteria: ones that impact the wider community through their non-profit operations. Among the diverse variety of enterprises that REN reached out to, these 5 accepted their offer and several others were open to partnerships with REN.CO.
“This year’s Entreweek has quite a good variety of social enterprises being featured at the booths, and it brings good exposure for both Rafflesians and enterprises themselves. We get to learn about their causes and beneficiaries, while witnessing first hand how these business models can operate to profit and benefit the community.”
Nadya (25S03G), a member of REN
These vendors were also set up alongside Raffles’ very own REN merchandise booths, adorned with merchandise such as laptop sleeves, caps, singlets and more, as well as attractive game booths designed by REN members.
The tactical entrepreneurs-in-training even launched a lucky draw segment allowing students to enter following their completion of the various game booths. Some of the game booths students could participate in included basketball, cup pong and darts with various engaging elements which spread the spirit and knowledge of AI and entrepreneurship. Along with the excitement and learning opportunities, completing the booths would also allow one to stand a chance at winning REN merchandise.
Tech Bytes and Business Plights
Just in case you were still curious about Mr Shin Wee Chuang and his endless list of entrepreneurship tips, we have them all compiled here for your future start-up. Here are his 3 harsh truths about being an entrepreneur:
- It’s harder than you think. Mr Chuang shared a very essential and raw feeling that every business owner would face: “It is very scary to see the bank balance drop every single day with no idea when it will rise again.” He also pressed on the importance of building your ideal team in your start-up, comparing it to his favourite football team, Manchester United, back in his younger days.
- Easy is hard. Mr Chuang stressed on his personal stories and pitfalls in his journey, ultimating concluding that “Easy is hard, never take the short cut because the shortcut is usually the long route.”
- You are on your own. Lastly, Mr Chuang mentioned the double edged sword of being an entrepreneur. “You have freedom but you are entirely on your own.” He explained the very frightening reality that clients, investors and even your own employees in the company can quit at any given time, but not you.
After hearing his revelations, would you still want to become an entrepreneur?
Gigabytes and Startup Fights
Though it may seem unlikely, our first line is not clickbait. Mr Chuang really did say that. Reflecting upon his start-up journey, he recalled when his chatbot first crashed, creating a rift between him and his co-founder. As he recounted the trials and tribulations he faced, he did not sugarcoat his experiences. “If you’re doing it for the money, you’re going to be disappointed for a long time.”
Meet the Team
What makes this year’s Entreweek different from last year’s? Well, this year’s Entreweek was conducted on a larger scale, picking up pace after years of pandemic restrictions. REN got straight to work in June, excited about all the possibilities that lay ahead.
However, planning such a large scale event was certainly no easy feat. Facing manpower, logistics, and time constraints, they had to work out a tight member roster for booth manning, and compromise on alternatives due to logistical limitations. Talking about the tight deadlines, Seet Wen Yu (25S06P), another Student IC, lamented on missing out on the opportunity to get more vendors and make this event happen at an even larger scale.
“Liaising and communicating with the vendors was quite tough as well, as we had to go through multiple rounds of checking and vetting.”
Seet Wen Yu (25S06P)
Of course, this event would not have been possible without the members of REN. As Tharanee (25S06Q), another student IC, puts it: “We would like to make this a tribute to the members who have been tirelessly working and a major props to the publicity team – honestly, so good. As well as Ms Stacy Tan who has been so patient, inspiring to us and guided us in the best way possible.”
Even so, their hard work had certainly paid off. The success of Entreweek left a lasting impression on Rafflesians, not only opening their eyes to the possibilities of entrepreneurship, but also grounding them in the realities of the long and arduous journey which they will certainly face ahead in their courageous pursuit.
As Colin Powell once said, “There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” Let us wish the best of luck to our young, aspiring entrepreneurs.
