Startup Singapore: The 1Mby1M Philosophy and Bootstrap First

The Accelerator Conundrum is a multipart series that challenges the prevailing wisdom of the tech startup ecosystem that entrepreneurs should Blitzscale out of the gate. Written by Sramana Mitra, the Founder and CEO of One Million by One Million (1Mby1M), the world’s first global virtual accelerator, it emphatically argues that a better strategy is to Bootstrap First, Raise Money Later, focus on customers, revenues and profits. 1Mby1M’s mission is to help a Million entrepreneurs reach a million dollars in annual revenue and beyond. Sramana’s Digital Mind AI Mentor virtually mentors entrepreneurs around the world in 57 languages. Try it out!

Our 1Mby1M philosophy is a radical departure from the local norm. We are not a fixed-term program. We don’t run a cohort. We do not take a single cent of equity from our entrepreneurs. And we are not conflicted by investors or corporate partners. We are a continuous, long-term business development program built on one core, unshakeable principle: your success is our only metric. We are laser-focused on helping you build a company that can reach a million dollars in annual revenue. This is a goal that is both ambitious and achievable for millions of entrepreneurs globally, and it’s a far more powerful metric than any valuation.

The cornerstone of our philosophy is the Bootstrap First approach. We demand that entrepreneurs get paying customers from day one. This is the only real validation you need. We challenge the Singaporean norm of building a product in a vacuum for months only to reveal it on a demo day. Instead, we insist that you find out if your idea has a market by getting people to pay for it. This is the most honest feedback you will ever get, and it forces a discipline that is essential for survival in any market.

The Bootstrap First philosophy is a competitive advantage in Singapore, where a hyper-competitive environment can pressure founders to burn through capital prematurely. By teaching them to build a business that is fundamentally sound, we are helping them create a company that can endure and grow organically. Our unconflicted model allows us to give advice that is purely in your best interest, not in the interest of a fund or a specific investor. This is how you build a real business, not a paper tiger that only looks good on a pitch deck.

The Digital AI Mentor

The biggest game-changer we bring to Singapore’s startup ecosystem is our Digital AI Mentor. Forget the limitations of human mentorship—the scheduling conflicts, the limited availability, and the biased advice. The Digital AI Mentor is a dynamic, on-demand advisory tool that provides continuous guidance, anytime, anywhere. It’s not a simple chatbot; it is a sophisticated AI trained on decades of case studies, my personal experience, and a vast body of business knowledge. It can provide real-time, personalized advice on everything from business model validation to market entry strategy. 

The best part? It offers local language support in English, Chinese, Tamil, and Malay. A founder can ask a question in Malay at 2 AM, and the AI Mentor will provide an intelligent, well-informed response in the same language. This level of accessibility and scale is unmatched by any physical accelerator. It democratizes access to high-quality business advice, bypassing the gatekeeping that comes with exclusive, cohort-based programs. It’s a resource that truly empowers every single entrepreneur, not just the select few who get into a top program.

This is a critical distinction in a diverse market like Singapore. A founder no longer needs to wait for a weekly meeting with a mentor who may not have all the answers. They can get the guidance they need, precisely when they need it, from anywhere. This is a level of continuous support that is simply not possible with a time-limited, human-centric model. The AI Mentor provides a lifeline for founders who are working late at night, grappling with a complex problem, and need an immediate, knowledgeable response. It offers a level of scalability that no physical accelerator can match, making expert guidance available to every single entrepreneur in the country, regardless of their location or background.

A Game-Changer for the Ecosystem

In a crowded market like Singapore, where many accelerators are pushing a high-risk, venture-backed model, 1Mby1M offers a powerful, alternative path. We address the core inefficiencies and misaligned incentives of the existing ecosystem by providing a continuous, long-term, and unconflicted program that focuses on what truly matters: revenue. 

The Digital AI Mentor, with its multi-language capability, makes this guidance accessible to all, bridging the gap between urban hubs and the broader community. 

The Bootstrap First philosophy instills a discipline that is essential for building a resilient, sustainable company. This is not about being anti-VC; it’s about making fundraising an accelerant for a business that is already working, not the primary objective. By shifting the focus from fundraising to revenue, we are helping entrepreneurs build businesses that are fundamentally stronger and more likely to succeed in the long run.

The Singaporean startup ecosystem has made great strides, but it risks falling into the trap of celebrating “paper tigers” — companies with high valuations but no real substance. The future of the ecosystem lies not in a race for venture capital, but in a disciplined approach to building businesses that create real value and can thrive on their own. Our model provides the framework, the tools, and the continuous support to make this a reality for every single entrepreneur in Singapore.

Remaining Parts in Series

Startup Singapore: The Accelerator Conundrum

One Million by One Million (1Mby1M) is the first global virtual accelerator in the world, founded in 2010 by Silicon Valley serial Entrepreneur Sramana Mitra. It offers a fully online entrepreneurship incubation, acceleration and education resource for solo entrepreneurs and bootstrapped founders working on tech and tech-enabled services ventures. 1Mby1M does not charge equity, offers an AI Mentor in 57 languages, and offers a distinct advantage over other accelerators including Y Combinator.

This segment is a part in the series : Startup Singapore