GENOVATE Solutions has come a long way.
The company has grown from a single office in Singapore
to a global network of offices from the Middle East to
the Pacific Rim.
Specialising in software, training and professional services
in SAP, bio-informatics, Web services and mobile commerce,
Genovate has developed products targeted at different vertical
industries, such as healthcare, construction and transportation.
In August, Genovate became the first foreign company
approved by the Thai government to develop the Thai software
industry and train IT professionals. It plans to go public
within the next 12 months and aims to penetrate the North
American market.
We spoke to Mr Anton Ravindran (picture), co-founder
and group CEO of Genovate Solutions, who shared with TODAY
the importance of human capital in a knowledge economy
and how entrepreneurs must enjoy the thrill of exploring
and innovating in order to succeed.
What was your business strategy when you started
Genovate?
I identified a pressing need to offer professional training
in IT skills, with the aim of marrying real-world experiences in IT with a classroom-style
of education.
We adopted a strategy of providing
consulting and professional training in leading-edge technologies
by true practitioners — hiring only professionals
who have had extensive industry experience with major MNCs
(multinational corporations) implementing UMS (unified
messaging system), WAP (wireless access protocol), mobile
commerce, ERP (enterprise resource planning) and CRM (customer
relationship management) systems.
What is the outlook for the IT software industry?
What are some key trends?
We are beginning to live and conduct business in a virtual
world. For the near future, the penetration of mobile phones and m-commerce will
accelerate and RFID (radio frequency identification) tagging will replace the
use of bar codes.
IT will also transform how we learn.
Textbooks and exams will go online while Internet searches
will replace physical libraries.
Cash cards and online banking will
replace human bank tellers and cheque books. Internet security
will be big.
What strategies should software firms adopt to prepare for the opportunities
in the future?
To capitalise on market opportunities, they should:
• Pair fresh ideas with original solutions.
• Develop in-depth technical expertise to convert ideas
into marketable solutions.
• Remain nimble to stay relevant in today’s fluid
marketplace.
• Hone your ability to execute your business plan and
have the tenacity to see it through.
Innovation, acquisition of hardware/technical skills
and execution are key points as the future of the IT
industry will be service-driven, with software licensing
playing a supporting role.
Do you see yourself as a successful technopreneur?
Yes, I do and I’m proud to have made my technological
vision a reality. And the entrepreneurial spirit crystallised when I left an
MNC to start Genovate and explore uncharted territories, to go against the tide,
to enjoy the thrill of exploration and innovation.
What are some mistakes you’ve made and what
have you learnt from them?
Many, but I will elaborate on one. You need the right people
who can relate to your vision, passion, sense of understanding and who have the
desire to advance their careers. If you get the wrong people, your business may
stagnate or not grow as quickly. Past records of individuals are no longer a
testimony to what they can deliver in forward-looking organisations. In fact,
their prior successes based on conventional methods may hinder their entrepreneurial
spirit in a forward-looking organisation.
What advice would you give to aspiring technopreneurs
in Singapore?
If aspiring technopreneurs have fresh, realistic ideas and
are prepared to embrace fresh perspectives and take risks, they should not hesitate
to take the plunge. They should realise that opportunities don’t wait.
To be successful, entrepreneurs have to be creative with their solutions and
must have the determination to succeed.
To execute their ideas, they need to
do the necessary preparation (gather skills, funding and
passionate people) and plan the execution (develop a proof
of concept and framework).
ariel@newstoday.com.sg
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