We’re Not Just a Startup Anymore

Sometimes, people still introduce us like this:

“Oh, Favoriot? That IoT startup from Malaysia, right?”

And I pause for a second.

Yes, we were.

But are we still?

Let me rewind a bit.

Back in 2017, when we launched Favoriot, it was exactly that — a startup.

A handful of us.

One platform.

A dream to make IoT more accessible, especially for Southeast Asia.

Everything was lean, experimental, unpredictable.

Sometimes the server was more fragile than our optimism.

We pitched, we demoed, we chased leads — and celebrated every small win like it was a moon landing.

But today?

We’re in a different phase.

What Changed?

We’ve got paying customers.

Real ones.

Not just POCs or demos — but full deployments across smart cities, smart agriculture, education, and industry.

We’ve entered partnerships in Indonesia, the Philippines, Canada, India — and we’re not stopping there.

Our platform?

It’s no longer a prototype we hope works when someone opens their laptop.

It’s stable, scalable, and trusted by universities, enterprises, and city councils.

We even built Favoriot Academy — an education arm training hundreds (soon, thousands) of IoT-ready talents.

So, here’s the honest question I asked myself:

“Are we still a startup if we’re already delivering impact at scale?”

What We’ve Outgrown

The “startup” label carries a certain image.

You’re small. You’re scrappy. You’re still figuring things out.

But some things at Favoriot are no longer up for debate:

We know what we do best. We know who we serve. We know what pain points we solve.

We’re not constantly pivoting.

We’re focused on scaling what already works.

What We Still Keep

That said — we haven’t gone corporate.

We’re still fast.

We’re still experimenting.

We still believe in bold ideas and building things that matter.

We don’t have a long chain of decision-making.

You’ll still find me answering messages at odd hours, jumping into customer calls, and reviewing platform feedback with the team.

And we still have that fire — the same one we had when we first started.

So maybe we’re not a startup anymore…

But we’re not slowing down either.

So What Are We Now?

Some call this stage a scale-up.

Some say we’re an emerging tech company.

Others might call us a maturing platform player.

Me?

I say we’re still building.

Still growing.

Still proving that a Malaysian-born IoT platform can stand tall — and go global.

If you’re looking to partner with a company that’s lean enough to care but strong enough to deliver — we might be the right fit.

Not a startup.

Not a giant.

Just real people building real tech — one IoT solution at a time.

Let’s build the future together.

Advice From ChatGPT as The Investor

I asked this question to ChatGPT:
“Act as an investor. Give advice to Favoriot founders on how best to pitch to VCs and get funding or get acquired.”

Below is ChatGPT’s answer (and a very interesting one):

Dear Favoriot Founders,

As an experienced investor, I want to share insights on how you can effectively pitch your business to venture capitalists (VCs) and increase your chances of securing funding or acquisition. Here is what you need to consider:

1. Understand Your Audience

Remember that VCs are inundated with hundreds of pitches every week. It’s critical to know what differentiates yours from the rest. Research the VC’s portfolio and understand its industry focus. Tailor your pitch to show how your startup aligns with its investment thesis.

2. Convey a Strong Value Proposition

Clearly articulate the problem you’re solving and how your solution is unique. Show compelling evidence to support this. This could be testimonials, case studies, or data. What’s your competitive advantage, and how will it ensure your survival and success in the market?

3. Demonstrate Market Potential

VCs want to see that you’re targeting a substantial and growing market. Provide data about your Total Addressable Market (TAM) and explain how you plan to capture a significant market share.

4. Present a Proven Business Model

Your business model needs to be both scalable and sustainable. Demonstrate how your revenue streams are reliable, diversified, and capable of delivering a return on investment. Showcase your unit economics and highlight how they improve with scale.

5. Show Traction

Highlight your progress. This could be user growth, revenue growth, key partnerships, etc. Be prepared to discuss your key performance indicators (KPIs) and what you’ve achieved thus far.

6. Introduce the Team

VCs invest in teams, not just ideas. Present your team’s skills, experience, and commitment. Show why your team is uniquely qualified to execute your business plan.

7. Be Clear about the Use of Funds

Clearly explain how you will use the VC’s money. Whether it’s for product development, marketing, hiring key personnel, or expanding to new markets, show that you have a strategic plan for their investment.

8. Discuss the Exit Strategy

While it’s early, VCs need to understand how they will get a return on their investment. Discuss potential exit strategies, whether it’s an acquisition, merger, or IPO. Identify potential acquirers or comparable public companies.

To Increase Chances of Acquisition:

  1. Identify Potential Acquirers: Identify companies interested in acquiring your startup from the onset. Position your company in a way that aligns with its strategic objectives.
  2. Build Strategic Partnerships: Collaborations can serve as a stepping stone for acquisitions. Such partnerships allow potential acquirers to see your value proposition firsthand.
  3. Prove Synergies: Show how your product or technology can enhance the acquirer’s offerings, increase their market share, or improve their bottom line.

Remember that getting VC funding or being acquired isn’t just about having a great idea; it’s about demonstrating that you have a feasible plan, a capable team, and a substantial market. Be clear, confident, and compelling in your presentation.

Best of luck with your pitch!

Regards,

ChatGPT

When No New Ideas Are Generated

How do you know when it’s time to unplug? What do you do to make it happen?

At times, our marketing strategies don’t yield the desired results, despite trying various approaches. The growth we seek seems elusive, making it necessary to reconsider our tactics, whether that’s adjusting pricing, devising a new strategy, experimenting with alternative marketing platforms, tweaking our messaging, targeting a different customer base, or even introducing new products. If these efforts still fall short, it may be time to take a step back, to decompress and regain perspective.

I often find solace in vacations, peaceful beach walks, or revisiting my passion for photography, perhaps even catching up on some movies. I might not be able to completely disconnect from the digital world as I value the ability to stay connected and enjoy using my favorite mobile apps.

Does this approach always work? Not necessarily. But it occasionally provides fresh insights into the challenges I’m facing, which is a valuable starting point for innovative ideas.

What about your experiences?