Veteran businessman Jimmy Yeoh started his first validation event 3 months ago where new business ideas were presented and put to test by all event participants and Jimmy himself.
The follow-up event Pitch ‘n’ Validate with Jimmy Yeoh #2 was organized on 11th August 2014 to listen to the second set of ideas. Thanks to PJ Palms Sports Centre, we moved the event into its African restaurant called Out of Africa and reserved a room with a few tables for the event.
The host Ricky Soo first introduced the event, the coach Jimmy and the 4 presenters of ideas to the group of about 17 of participants, some of whom were startup entrepreneurs themselves. Soon we were broken up into 4 groups, each of which led by a presenter in the event.
The presenters shared their startup idea in the group they were assigned to. They were asked not to promote and hard-sell, but to listen for feedback from the group members as part of the idea validation process.
In the second round, the presenters changed group and moved to the next group to do the same. The ideas were meant to be tested for 2 rounds before the presenters came together to present to the whole crowd.
Group validation event in African restaurant
After the group discussion, all participants came together to listen to the 4 ideas one by one. Each presenter shared for 5 minutes. Questions were raised and answered after the sharing.
Finally, Jimmy Yeoh came on stage and commented on each idea presented. Being a humorous yet direct person, everyone appreciated his feedback and advice on the pitches of the day.
Terri Low, a banker having an idea to manufacture some machines, was voted by the event participants for her best pitch in the event. The event ended with networking both inside and outside the restaurant. It has been a fruitful sharing and idea bouncing event for all.