Graduates from Cyberview Living Lab (CLL) – Accelerator Raise RM2.5 million funds for Their Tech Innovations at Demo Day

CYBERJAYA, 7 July 2015: Infinite Ventures Accelerators, enabled by Cyberview Living Lab Ac-celerator (CLLA-IV) culminated in a Demo Day recently where 5 participating startups pre-sented their businesses to top investment and entrepreneurial communities, industry leaders and government bodies. The startups, which just finished a 6-month immersive programme, have successfully pitched and received Letter of Intents of up to RM2.5 million to date.

At Demo Day, Laundry Done, an on-demand laundry delivery service, announced the launch of their app while Ittify, a cloud-based platform that automates and simplifies the process of finding hidden and relevant influencers for user brand needs, revealed that it secured an in-kind investment of a 7 man tech team to build its platform from Geomash Sdn. Bhd.. Its pub-lic version of the app is set to launch in August 2015.

Over the past six-months, CLLA-IV provided participants mentorship from more than 30 startup veterans as well as over 70 investors from the business community, special access to Cyberview Living Lab’s network and resources, with a joint investment of up to RM100K – RM50K from Cyberview Living Lab and another RM50K from Infinite Ventures.

More than 100 entrepreneurs applied to the CLLA-IV programme this year, of which only the top 20 were accepted to be a part of the programme. The programme utilises customer and rapid product development methodologies, one-on-one mentorship and access to successful entrepreneurs and investors in order to successfully support these startups from idea to vali-dation. On top of Demo Day, Infinite Ventures is committed to mentor and help the startups to fundraise in the upcoming rounds to ensure the success of the startups after leaving the accelerator.

“This group of start-ups has made tremendous progress evolving and growing their businesses in the past six months,” said Sathyvelu Kunashegaran, Partner of Infinite Ventures. “It has been a fantastic learning experience for them and an opportunity for Infinite Ventures to get in on the ground floor with a new generation of entrepreneurs. We look forward to the op-portunity to work with all of these companies moving forward and to meeting a new set of entrepreneurs in our next batch in July.”

Faris Yahaya, the Managing Director of Cyberview Sdn Bhd said: “IV has been coaching the participants on various expertise and industry knowledge. We are excited to see the fruitful outcomes, which have resulted from the CLL-Accelerator today. Cyberjaya today is not just a technology centre – it is a Living Lab for innovations. Through participation, these startups have gained crucial skills, received access to the necessary tools, and the capabilities to test, launch and eventually grow their applications in Cyberjaya.

We trust these startups will soon get investors to buy in their products or services. Cyberjaya is undoubtedly the best platform to groom tomorrow’s technopreneurs as it is backed by Cyberview’s consultancy services and, extensive network with the government, MNCs and industry agencies. People who live in Cyberjaya will also benefit as they become pioneer adapters to experience and adopt new technologies. It is because of this that we can say Cyberjaya is truly a Living Lab, a Smart City to live in, and a Global Technology Hub that ad-vances technologies that benefit the masses.”

Ashran Dato’ Ghazi, the Chairman of New Entrepreneurs Foundation (myNEF) said: “ We are excited to see the results of the CLLA-IV accelerator as we have been supporting IV since day one. Being a part of CLLA-IV is a reflection of myNEF’s involvement and commitment to sup-port the technopreneurs ecosystem in Malaysia. Building a startup company can be tough, but myNEF is committed to provide the necessary expertise and encouragement with pro-grammes like these and our ASEAN Ricebowl Startup Awards.”

Group photo_Graduate class of the Demo Day together with CLL-Accelerators partners

Author: Terry KS

Share This Post On