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MSC
MALAYSIA
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MSC Malaysia InnoTech@Startups
Driving Malaysian startups through regional linkages
M
ultimedia
Develop-
ment Corporation
(MDeC) on 19 August
organised the MSC
Malaysia InnoTech@
Startups, a recognised
premier investment
platform inMalaysia, pioneered and driven by
MDeC since 2008. This investment and pitch-
ing platform will match technology-based
companies with potential local and regional
investors and debt funders, for growth and
market expansion.
For the first time since its inception, the
pitching platform this year was opened up
to participants from the region. As a result,
it has attracted the participation of up to 30
startups fromMalaysia, Thailand, Singapore,
Indonesia, Vietnam and Brunei.
Held at Le Meridien Kuala Lumpur, the
three-day event kicked off withMSCMalaysia
Coffee Chat, a knowledge sharing session
with regional mentors to share the startup
scene in their respective countries. Followed
by the pitching session, where these partici-
pants will undergo one round of investment
pitch sessions and eye-to-eye meeting with
investors.
Ng Wan Peng, Chief Operating Officer
(COO) of MDeC said: “Since it is the first
time that MDeC is opening MSC Malaysia
InnoTech@Startups to foreign startups, this
session provides the chance for local startups
to collaborate across borders and products
to expand their market reach and also build
linkages with their regional counterparts.”
The MSC Malaysia InnoTech@Startups
has come a long way and accomplished a
lot over the past past six years. Within this
period, it has secured deals amounting to
more than RM280 million and has success-
fully funded more than 100 companies.
Past Successes
In 2010, InfoValley Sdn Bhd participated in
MSC Malaysia InnoTech and was assisted
by MDeC to secure a grant for technology
improvement. Subsequently with the en-
hancement, the companymanaged to secure
a venture capital funding of RM7million from
a local venture capital investor.
Last year saw the company receiving
another round of funding for RM70million to
expand their business in the United Kingdom
market to penetrate the European countries.
Another success story from previous
editions of MSCMalaysia InnoTech is Rapid-
Cloud Asia Berhad, which participated in
2011 with a Cloud Computing pitch. In
2013, MDeCfacilitated a pre-IPO invest-
ment of RM3.1 million and RapidCloud
Asia Berhad was successfully listed on the
London Alternative Investment Market with
the capitalisation of £9.4million (RM49m) in
August that year.
Take United Sdn Bhd, which also par-
ticipatedthe MSCMalaysia InnoTech in 2011,
had also received MDeC’s facilitationin 2013
to secure its venture capital funding. This
has led to the establishment of partnerships
between Take United and companies in
Thailand, Myanmar and the Philippines for
further Asian expansion.
New World
With this year’s event, MDeC clearly foresees
that the regional market will provide startups
with new opportunities for growth that will
help them to compete withmore established
businesses globally in the future.
Wan Peng added: “In a world without
borders, businesses should no longer limit
themselves to only opportunities within their
respective countries. Tapping into foreign
markets is a crucial path for startups in Ma-
laysia if we are serious in building a healthy
and thriving entrepreneurship environment
ecosystem.” Ng Wan Peng added.
MDeC continues to assist in developing
the growth of Malaysia’s startup ecosystem
by creating the necessary platforms and by
collaboratingwith International and Regional
Accelerators such as BootstrapLabs, Founder
Institute and JFDI.Asia. MDeC also helps
local startups and entrepreneurs receive the
necessary mentoring and coaching that they
need to succeed in competing on the global
regional level.