This article will summarized out opinion pointed by Ticket2U Founder, Mr. YC Chia. To read full article, please go to
Read the full article here:
http://blackstormco.asia/ecosystem-building-what-does-it-take-to-build-a-robust-ecosystem-for-your-business/
Watch the full playlist of the panel discussion (in Chinese) here:
https://youtu.be/aOOsxrBtFXI
Experience in Ecosystem Building
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For Ticket2U, it was rather smooth sailing as they managed to tap on a blue ocean market. YC shared that when Ticket2U first started in Malaysia, QR codes and facial recognition were still uncommon, but as they continued to build the ecosystem, they developed their own application, introduced their own kiosks and expanded their operation capacity to registering a few hundred guests to tens of thousands of guests. The ecosystem which they have established is fairly mature as they have not disappointed their clients before, and they have achieved their initial goal when they first started out.
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Challenges in Building an Ecosystem
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YC shared that COVID-19 has disrupted more than a thousand events which has compelled Ticket2U to temporarily adapt to the situation by becoming one of the largest donation platforms in Malaysia, while working with The Malaysia Zoo and other beneficiaries. It should also be noted that because Ticket2U is a credible brand, it was easy for them to make this transition into a donation platform.
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Building a Successful Ecosystem
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Additionally, YC shared that Ticket2U has taken this time to improve its facial recognition technologies and added bus ticket to one of its services. This downtime has actually accelerated their progress in improving their organisation.
Building an Ecosystem as a Startup – Yes or No
YC’s advice for companies who are still in its initial stages to focus more on what the market needs, instead of focusing too much on establishing an ecosystem.
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About BlackStorm Consulting
BlackStorm Consulting (http://blackstormco.asia/) is a Singapore-based boutique growth consultancy firm that specialises in corporate strategy, profit management and investment management. We scale businesses in Southeast Asia. Our clients and connections are internationally present and range from small and medium sized businesses, MNCs, to government agencies.
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About Ticket2U
Ticket2U (https://www.ticket2u.com.my/) is an online ticketing and event management platform that helps you buy and sell, manage and check-in tickets for your event at ease. Ticket2U owned ticket2u.com, ticket2u.com.sg, ticket2u.com.my, ticket2u.co.id, cloudhax.com and hax.com.my. Our operations covered Singapore, Malaysia and Indonesia.