The Malaysia Digital Economy Corporation (MDEC), in partnership with Proficeo Scaleup Malaysia, has successfully concluded the Founders Grindstone: VC Readiness Programme (VCRP). This 12-week program focused on enhancing the capabilities and skills of tech entrepreneurs, particularly in the complex fundraising process. The program aimed to bridge knowledge gaps and create a more favorable environment for attracting venture capital. An anticipated final demo day is set for October 16, 2023, at MDEC Bangsar South, which coincides with the Malaysia Digital Expo 2023 (MDX2023).
13 October 2023 – The Malaysia Digital Economy Corporation (MDEC), in collaboration with Proficeo Scaleup Malaysia, is delighted to announce the successful culmination of the Founders Grindstone: VC Readiness Programme (VCRP). This transformative 12-week program was designed to enhance the capabilities, skills, and insights of tech entrepreneurs in navigating the intricate fundraising process, addressing critical gaps in venture capital (VC) investment.
Launched in May 2023, VCRP serves as a crucial platform for bridging knowledge gaps and fostering a more conducive environment for attracting venture capital in the challenging investment landscape. Ts. Mahadhir Aziz, Chief Executive Officer of MDEC, emphasized the program’s significance in nurturing the tech startup ecosystem within Malaysia.
“In a significant stride towards fostering innovation, investment readiness, and sustainable growth within Malaysia’s startup ecosystem, the Founders Grindstone: VC Readiness Programme demonstrates MDEC’s commitment to nurturing the tech startup ecosystem in Malaysia. With the Malaysia Digital (MD) national strategic initiative and its PEMANGKIN programs, we aim to generate significant economic spill-over and foster exceptional growth, reshaping the way we work and live in Malaysia,” said Ts. Mahadhir Aziz.
Out of 20 startups shortlisted by MDEC and Proficeo, 10 startups were selected to embark on this journey, refining their strategies and laying the groundwork for early-stage venture investments. The participating companies include Bio Inteltech Sdn Bhd, Capsphere, Cult Creative, Matrix Ideal Sdn Bhd (Evolet), Secondlifeasia Technology Sdn Bhd, Shoraka Suyula Platform Sdn Bhd, Synxsoft Sdn Bhd, TRYKE Transportation, Leasy App, and Wahine Capital Sdn Bhd.
Throughout the program, each participating startup engaged in one-on-one interaction sessions with analysts and partners from ScaleUp Malaysia, focusing on rectifying key gaps for investment readiness, such as Product and Business Model scalability, and pitch deck storytelling. A noteworthy aspect of the program was the networking session, offering founders a platform to share and exchange knowledge and experiences on the fundraising journey.
A highly anticipated final demo day, marking the program’s conclusion, is scheduled for October 16, 2023, at MDEC Bangsar South. This event will run concurrently with the Malaysia Digital Expo 2023 (MDX2023) as one of its Auxiliary Events. During this occasion, participating startups will showcase their progress, gain insights, and demonstrate their readiness for investment to both the public and potential investors.
MDEC is hosting the Malaysia Digital Expo 2023 (MDX2023) from September 25 to November 8, 2023. This six-week empowerment platform aims to showcase the best of Malaysia’s digital economy, serving as a ‘Show and Tell’ extravaganza. As a new addition to global tech expos and conferences, MDX2023 demonstrates Malaysia’s readiness to explore and elevate its digital ecosystem, opening doors for businesses to expand into ASEAN and beyond.