list of projects with singaporean start-ups





1) FriarTuck Pte Ltd

2) KOO Prime

3) NeuroVision

4) MiniVasive Pte Ltd

Contact Person Background & Project


Sevugan Alagappan

Co-Founder & COO

FriarTuck Pte Ltd.

8, Prince Georges Park,


Tel: 67766764, Mob.



Anwar Chan

VP – Business Development

KOOPrime Pte Ltd

71A Tanjong Pagar Road

Singapore 088492

Tel : +65 6327-2433

Fax : +65 6327-2438


Ms. Isabella Chinniah

Sales and Marketing Manager

Tel: 65365082, Mobile



Casey Chan

Mobile: 9673-4702


Refer to Appendix I

Refer to Appendix II

Refer to Appendix III

Refer to Appendix IV

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Business Cases for Internship Program at FriarTuck

FriarTuck is a “specialist” provider of solutions for optimized event scheduling. The company is dedicated to developing and provisioning of turnkey software solutions and consulting services for scheduling of complex events. The company powers its products with constraint programming technology in addition to and in combination with Operations Research and Artificial Intelligence techniques. The use of these technologies allow FriarTuck to deploy robust and cost-effective solutions that add unique value to its clients by generating optimized event schedules reliably and within acceptable runtime. FriarTuck promises the performance levels of its solutions match the best available and benchmarked in the industry. The scheduling solutions are professionally designed, complete with userfriendly interfaces, and are integrated in the client’s software and hardware infrastructure. FriarTuck focuses on optimized event scheduling in the markets of workforce scheduling, tournament scheduling, and course timetabling.


FriarTuck has had good initial success and is currently embarking on a growth phase. This transition from the incubation/startup phase to the next level entails a re-look and revamp of the business strategy.

Following are the business areas identified for the internship program at FriarTuck for 2004:

A) Business Strategy

Horizontal Markets vs. Vertical Market approach for survival, growth and diversification

Business mix: FT Products, Services, Projects, Consulting, iLog Practice, Annuity business from Maintenance & upgrades

Risk Mitigation Strategy: Product risks, Market/Geographical risks, Legal risks,

Customer risks, Ffinancial & Management risks

Time to market & Product/business lifecycle

Continuous Business innovation & transformation for survival

B) Go to Market Strategy (GTM)

Country Market Strategy [identified markets - US, UK, Canada, Australia]

Partner & Channel strategy for each identified market

D) Sales & Marketing Strategy (7Ps of technology marketing)

Product Strategy

Pricing Strategy, pricing models, structure, templates, variable market pricing

Promotion Strategy

Sales Strategy, Sales force Organization, Channel & Partner Strategy

Competitors Strategy

Market Intelligence

ROI methodology, templates and Case Studies

E) Increasing Company Valuations & Shareholders Value

While this is a general outline of the areas earmarked for project work, a more precise view of the business needs could be arrived during preliminary discussions. FriarTuck invites interest from business graduates to work upon these assignments that are vital to its survival and growth and would significantly impact the strategic posture the company takes.

For more details please contact:

Sevugan Alagappan, Co-Founder & COO

FriarTuck Pte Ltd., 8, Prince Georges Park, Singapore

Tel: 67766764, Mob. 98577740


, Web:

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KOOPrime Pte Ltd – Project with INSEAD students

ABOUT KOOPrime: Our Background

KOOPrime is one of the first software companies to provide component-based solutions and services to the life sciences industry. We provide an integrative platform capable of linking heterogeneous businesses, software, hardware, and human processes through the use of components. We also provide toolsets of components that can streamline Internet data collection, high-throughput data processing and data visualisation.

Furthermore, we add value to organizations by allowing seamless and transparent flow of data and information from one component to another, resulting in business flows that can be personalised and automated by end users. This facilitates the processing and capturing of business knowledge models, enabling our clients to enhance their productivity and improve their bottomline.

We work closely with researchers from the life sciences and information technology industries and we have also established close links with many academic and commercial groups regionally and internationally.

Our generic technology can be customised to fit diverse domains, including the pharmaceutical, healthcare and academic sectors.


We are currently working with a partner to create a Bulletin Automation System (BAS) for the generation of bulletins for use in the life sciences. BAS is capable of retrieving documents from the Internet and internal sources and automatically categorizing the documents into specific categories of interest to the user. It is capable of tracking source sites on a periodic basis to detect changes in new documents. BAS is ideally suited for the pharmaceutical industry where there are a large number of research areas being investigated at any one time. As a result, such a system would be useful in helping the pharmas to automatically retrieve documents and accurately categorizing them in specific categories of relevance. This would shorten the time taken to seek out potential discoveries.

We would like for the student(s) involved to further investigate this area of development and positioning. Ideally, we would like the team to be able to participate in seeking out the various aspects that should be considered for the ongoing development of the product, the market and its competitors and the positioning BAS should have in the mid to long term future.

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NeuroVision Proposal for INSEAD Project


NeuroVision, Inc. was formed in December 1999 by Uri Polat, PhD, Neuro-scientist. The company has developed the revolutionary NVC

vision correction technology, based on

20 years of academic research by Dr. Polat and collaborators.

In 2001 the company received FDA 510(k) clearance for its first product - the treatment of amblyopia (Lazy Eye) in patients 9 years or older. In 2002 the company developed its second product – vision improvement in patients having low degrees of Myopia, for which the Company has received European medical CE mark

As the prevalence of Low Myopia is extremely high in the Asia/Pacific region, in particular Singapore, Hong Kong, Taiwan and Japan, where more than 70% of the entire population are myopic, the company has strategically chosen to concentrate its commercial efforts in Asia first.

In 2003 NeuroVision performed a successful clinical trial in collaboration with the

Singapore Eye Research Institute demonstrating the efficacy of its technology in improving unaided vision among patients with Low Myopia.

In 2004 the company concluded its 3 rd

round of investment in Singapore, led by EDBI and Temasek Holdings. NeuroVision Pte Ltd was incorporated in Singapore as a wholly owned subsidiary of NeuroVision, Inc, and all operations were transferred to Singapore, and performed by NeuroVision Pte Ltd.

The company’s CEO, Mr. Alain Leneveu has over 24 years of international management experience in the medical industry, including 17 years in Asia Pacific in which he has created an extensive network of relationships in the ophthalmic community.


NeuroVision has developed the NVC™ Vision Correction Technology, a new approach to improve eyesight without surgery or drugs. NVC™ is a non-invasive, patient-specific treatment based on visual stimulation and facilitation of the neural connections responsible for vision. It is formed around the Company’s proprietary algorithms, which are delivered to PC-based treatment stations via the Internet. The treatment is arranged in

30-min interactive sessions, taken every other day. Maximal vision improvement is subject-dependant, typically achieved over 8-12 weeks

During the treatment sessions, the patient is exposed to various specific and clinically proven images on the computer screen that enhance vision by improving the efficiency of the image processing in the brain.

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The NeuroVision treatment is risk free, the company received FDA approval in the US, and Medical CE Mark in the European Union. It is based on 20 years of research and clinical studies in the field of visual neuroscience.

The treatment is applicable to

1. People having low degrees of myopia, those would decrease their dependency on eyeglasses to the extent that they would not need to use them anymore.

2. People that suffer from "Lazy eye", a condition considered untreatable for people aged

9 years and above.

3. People that underwent a LASIK surgery, but their vision without glasses is still not good enough.

Recently the technology has been validated and endorsed by the Singapore Eye Research

Institute. The Singapore National Eye Centre opened the first NeuroVision commercial center in Asia, and more centers are to follow.

Business Goals

NeuroVision aims to be the world leader in non-invasive vision improvement. The eye care industry has focused a majority of its resources on solving problems associated with the ocular or “front end” of the visual system. These investments have led to exciting technology advances, such as intraocular lenses (IOLs) and Laser Vision Correction

(LVC) as well as the development of contact lenses and improved eyewear.

NeuroVision’s innovative Neural Vision Correction™ (NVC) technology has been developed through research focused solely on optimizing performance of the neural or

“back end” of the visual system. It would be complimentary to the existing technologies, and would provide the ophthalmic industry with a comprehensive treatment platform offering treatment in areas where no treatments are applicable.

We estimate that Low Myopia (<1.5D) affects over 360 million people worldwide, of these over 100 million in the initially targeted countries. Amblyopia affects over 2% of the adult population resulting in more than 10 million in the initially targeted countries

NeuroVision’s revenue model is mainly comprised of Entry Fee, which centers will be requested to pay for the license to provide NeuroVision’s treatments, and per patient

License Fee, for each treated patient.

NeuroVision will focus as a start selling in the Asia Pacific countries with high GDP and strong demand for low myopia and amblyopia treatments. Once the Asia Pacific region will be steadily growing, we may expand to others continents, based on our experience and strategies. The current revenues projections are US$1.5M in 2005, US$7M in 2006 and US$17M in 2007.

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The Business Problem

We would like the INSEAD team to concentrate on the Low Myopia market segment and assist us analyzing the following:


“The potentials customers” a.

Who are the low myopes (age group, percentage of the total population, activities, style)? b.

Where are they (not in ophthalmologist clinics, few in optical shops, most unlisted even by the government bodies because they have 6/12 vision or better)? c.

What are their purchasing habits (contact lenses, glasses, no correction) What would be their motivation to do a NV treatment? How much are they willing to pay? Do they want to go to a medical center or a cybercafé look or do it at home? d.

How many of them fit into our inclusion criteria’s? How to reach them and how to attract them? Who wants “supervision” (professional, sportsmen)?


“The international market” a.

What is the regulation for licensing fees in complex countries with an exchange currency control such as China, India? b.

Can we invoice and collect from overseas? What is the taxation implication? In which currency? c.

What would be the pricing structure? d.

What is the most appropriate channel in key countries (distributors, local partners with NV private centers, strategic alliance with medical institutions, franchising…) e.

What would be the legal implication for agreements and rights protection? f.

Which countries are not suitable or limited with internet connection?


“The complete Idiot’s guide for NV technology” a.

The story of Dennis Gabor. b.

The cognitive science of tomorrow available today. c.

Understanding and training our brain. d.

The optical aberration of our eyes and the correction from our brain. e.

Similar R&D and human engineering latest development. f.

Why NV is not magic but just part of our understanding and ability to improve our own performance. g.

How NV fits in the whole biotech development and what is his future?

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MiniVasive Pte Ltd

– Project for INSEAD students

We are in the process of putting together a medical device start up company.

We are concluding our seed fund raising exercise. The feed back we got from the investor was t hat the company’s product line is too focused. Therefore issues we like to examine are:

1. Alternate product development and marketing strategy with the current product line

2. Opportunities for product line extensions

Below is an abbreviated executive summary of the company.

Executive Summary

The name MiniVasive stands for minimally invasive surgery. The company is dedicated to deliver innovative disposables and tools for minimally invasive surgery. This is a startup company participating in a US $2 billion market for minimally invasive surgery in the orthopedic market segment. Our first products are tissue ablation tools (Power Shaver and RF Probe) and disposables for arthroscopic surgery. The addressable market for tissue ablation (Power Shaver and RF Probe) is nearly US $300 million in 2004.

MiniVasive is a joint venture with MedicineLodge Inc, a highly successful orthopedic R&D company in the United States. Company will start operation utilizing the tested SOP and quality system for product development from

MedicineLodge. In addition MedicineLodge will provide technical and regulatory assistance by two of its senior staff for a period of two years.

The company’s first product is a handheld Power Shaver. The company will also develop a new RF Ablator using unique circuitry that will require much lower power consumption compared to current design. The company develops and design disposables and powered tools for tissue ablation. Contract manufacturers in Singapore have been identified to manufacture the products according to MiniVasive’s design specifications. These facilities have operational clean rooms in place where products are currently being manufactured to ISO and GMP standards.

In the US, MiniVasive will sell its co-branded products through reputable orthopedic companies with well established sales, marketing and distribution organizations. In other markets, particularly in the Japanese market, products will be distributed under the MiniVasive brand name through selected resellers.

MiniVasive is expected to launch its products in the Q3 of 2006. The Company expects sales to reach S$11 million in 2008. Company is expected to be profitable in Q1 of 2007 and cash flow positive in Q1 of 2008. MiniVasive seek

S$2 million in funding with a projected closing date of August 15, 2004 and a second closing on September 15, 2004 for an additional funding of S$ 3-5 million.

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