THE ENTREPRENEURSHIP STORIES
The quest for being an entrepreneur begins — three (3) takeaways.
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The trip to Silicon Valley was not just a visit; it was a pilgrimage to the heart of technological innovation. As I stepped off the plane, back from the land of giants, the buzz of inspiration was palpable in my veins.
I pondered, “If those in Silicon Valley could turn dreams into reality, why couldn’t I?”
Amidst the relentless pace of progress, the seed of an idea began to germinate—an idea that would not only cater to an aspiration but also address a pressing social need.
Idea Generation
I remember the dialogue within me:
“Why not create something meaningful?”
“How can we ensure the well-being of seniors living alone?”
“The answer lies in IoT — the nexus of care and technology.”
These questions and affirmations became the mantras of my newfound quest.
The Genesis of a Vision
In April 2017, with a vision of empowering senior citizens, I fused a team to embark on a two-year entrepreneurial odyssey. The goal was to harness the potential of the Internet of Things (IoT) to foster a safer, healthier living environment for the elderly.
Confronting the Challenges
The reality was stark; seniors were battling health issues, from heart conditions to dementia, while their busy offspring grappled with the guilt and strain of being unable to provide constant support. Traditional caregiving was no longer sufficient — there had to be a more proactive way to ensure safety and provide swift assistance when needed.
Identifying the Opportunity
Our research uncovered a burgeoning market. The aging population was rising, with Malaysia housing a 7% senior demographic. This was more than a business opportunity; it was our chance to impact society substantially.
Designing the IoT Innovation
The blueprint of our product was clear — a wearable akin to a smartwatch, encapsulating features for health monitoring, GPS tracking, and two-way communication. Simplicity and efficiency were the cornerstones; the device had to be as unobtrusive as effective.
Market Exploration and Realizations
Our initial market approach focused on B2B collaborations with Senior Citizen Care Centres, only to discover the mismatch in demographic needs. We recalibrated, focusing on direct-to-consumer channels and even the Hajj pilgrimage market. Each pivot taught us invaluable lessons about our product and its market position.
A Look Back and Ahead
Looking back, the journey from Silicon Valley to our first IoT product has been enlightening. The entrepreneurial path is fraught with obstacles and learnings, but the drive to innovate for the betterment of our elders fuels our persistent march forward.
Crystallizing the Entrepreneurial Spirit: Three Takeaways
- Immerse Yourself in the Problem: Understanding is the bedrock of innovation.
- Embrace Flexibility: The ability to pivot is the entrepreneur’s greatest asset.
- Community is Key: Feedback and engagement are the lifeblood of a successful product.
Dr. Mazlan Abbas 