Takaful Tech: Ouch! champions digital transformation in Malaysia’s takaful sector

  • Aims to modernise traditional takaful via a user-friendly digital platform
  • Launches Jaga Generasi campaign to empower M’sians financially during Ramadan

Takaful Tech: Ouch! champions digital transformation in Malaysia’s takaful sector

Over 60% of Malaysians are not insured with any takaful plans. In an effort to reduce these numbers, Ouch!, which claims to be the first digital takaful operator recognized by the BNM Regulatory Sandbox, is shepherding a new era of financial protection.

In a statement, the firm said it aims to revolutionise traditional takaful by utilising technology to create an accessible digital platform and introducing programs such as the Kita Cover Challenge to engage its community. 

This Ramadan, Ouch! has introduced the Jaga Generasi campaign, an initiative to empower more Malaysians to secure their financial well-being during this time of reflection and charity. In a gesture of solidarity and giving back to the community, Ouch! will donate US$2.12 (RM10) Touch ‘n Go vouchers, which can be used for buka puasa, and an additional RM10 to its charity partner, Pertiwi, with each certificate sold.

As a fully digitalised takaful platform, Ouch! prioritises technology to streamline all processes for a more accessible, affordable, and efficient takaful experience. Participants can start with a quick coverage calculator on the application to determine their ideal protection plan in mere minutes. Additionally, certificate holders can still customise their plans to further tailor them to their needs at any given time – providing a level of personalization unmatched in traditional models.

Shazy Noorazman, CEO of Ouch!, said, “When it comes to takaful tech or insurtech, it is not just a matter of taking an existing product and selling it online. We need to reach out to the 20 million Malaysians who are not insured by any takaful protection plans, which is why at Ouch!, everything is digitalised to make the process easier and less complicated.”

He added that with Ouch!’s innovative back-end processes, the company is able to promote better engagement with its participants to use the platform to obtain information and manage their takaful plans. “We are providing an affordable, transparent, and efficient takaful solution for all Malaysians.”

Seeking to broaden takaful access for more Malaysians. The Kita Cover Challenge motivates members to spread the word by offering up to US$528 (RM2,500) for 25 successful referrals. Furthermore, both the referrer and new member will earn bonus points (equivalent to RM10) with their Ouch! Pusara Pro membership.

“We envision the Kita Cover Challenge, together with our Jaga Generasi efforts, welcoming more Malaysians into the Ouch! Family and creating a space where everyone looks out for each other’s financial health, just like Takaful intends,” Shazy added.

Participants can sign up for the Ouch! Pusara Pro plans online without additional fees, granting users full control over their takaful certificates. Adopting a paperless approach, the application provides secure and easy access to all necessary information. Ouch! also has an integrated communication channel within their website and mobile application, offering participants a centralised hub for all interactions related to their takaful services.

Ouch! is set to expand its suite of solutions, soon offering members a comprehensive range of options including medical, travel, and personal accident plans, all accessible through the website and app.

Download the application from the Google Play Store and Apple App Store.

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SOLS Energy drives Malaysia’s home solar adoption with innovative subscription model

  • eliminates first financial stress, reduces overall honest installation costs, and lowers the cost of installation.
  • Fixed tariff rate of RM0.46k Wh for next two decades, compelling economic value

A residential solar installation in progress.

Spearheading a paradigm shift towards lasting energy, biotech company, SOLS Energy, one of the world’s leading home renewable installers introduces its groundbreaking ‘ Home Solar Subscription Program’, a pioneering initiative in Malaysia’s renewable energy landscape. Petronas Ventures provided funding for SOLS Energy after it was founded in 2015.

This cutting-edge program makes a major step forward by giving homeowners a simplified and more available path to renewable energy like never before.

The Home Solar Subscription Program was established in Malaysia in an effort to alter the landscape of how people use solar energy, with the main objective being to encourage popular solar power adoption in Indonesian homes. By addressing fiscal constraints, the program covers the entire upfront investment, enabling householders to embrace renewable energy without having to bear initial costs.

One of the program’s main advantages is that subscribers do n’t have to pay any debt because they do n’t have to use credit cards or borrow money. Subscribers even receive a complimentary 20- time solar PV equipment warranty, providing peace of mind and dependability.

The” Home Solar Subscription Program” stands out from normal solar efforts by offering immediate payback times, mitigating the long waiting times normally associated with recovering initial purchases. Notably, participants benefit from a fixed tariff rate of US$ 0.09 ( RM0.46 ) per kilowatt- hour (k Wh ) for the next two decades, offering potential savings compared to the current national grid tariff of US$ 0.12 ( RM0.57 ) k Wh. This predetermined rate provides stability and predictability in energy costs, providing homeowners with a convincing economic justification for switching to solar power.

SOLS Energy drives Malaysia’s home solar adoption with innovative subscription model” Our commitment to empowering people on their path to sustainability and a brighter future is unwavering,” said Raj Ridvan Singh ( pic ), founder-CEO of SOLS Energy. ” That’s why we are revolutionizing the affordability and availability of solar energy for everyone,” he said. Through our Home Solar Subscription Plan, we’re breaking over barriers to renewable implementation. The transition to renewable energy is made simple by this program, giving householders a smooth transition. By embracing renewable energy, homeowners not only have complete control over their energy consumption, but they also have a significant impact on promoting good economic change. They will significantly reduce their carbon footprint while enabling generations to come with a cleaner, greener coming.

With a proven track record of installing solar power in the region of 14MW since 2016, SOLS Energy is in the top spot. 1 home renewable company in Malaysia with over 1, 800 house solar setups. The programme has resulted in annual electricity bill savings of US$ 2.84 million ( RM13.4 million ) for customers and carbon avoidance equivalent to planting 418, 500 trees.

SOLS Energy offers tailored setups with in-home technicians who can offer advice based on the needs of each household. With its emphasis on personalized service, SOLS Energy distinguishes itself from other companies and ensures that each buyer receives the best thermal solution possible.

By reducing rely on fossil fuels and reducing carbon footsteps, the Home Solar Subscription Program contributes to a more sustainable future. By encouraging the adoption of solar power, the program coincides with Malaysia’s ambitions of achieving a brighter and more responsible power ecosystem”, said Raj.

SOLS Energy, backed by Petronas, emerges as a leader in the realm of green energy options in Malaysia. With a determination to transitioning 285, 000 Indonesian households to clean energy, SOLS Energy remains steadfast in its alignment with Malaysia’s overall net- zero aspirations.

Notable accomplishments to date include providing electricity access to over 1,400 B40 Orang Asli families and empowering more than 600 members of the B40 indigenous group through its thermal club.

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Soonicorn Collective - 18 pioneer members selected

  • Committed to biome, financial, and nation- creating contributions
  • Provides management abilities development, creates relationships among founders&nbsp,

Members of Soonicorn Collective

The Soonicorn Collective, a membership-based program designed to groom the next unicorns of Malaysia, develop a solid business ecology in Malaysia and support policy proposals and wedding with government leaders, has been selected by Proficeo Consultants in partnership with Penjana Kapital.

Coined from the word” quickly- to- get unicorns”, Soonicorns are startups with the development potential to get unicorns. All of the chosen members are either CEOs or C-level owners. To participate, startups need to have raised at least US$ 424, 000 ( RM2 million ) in funding or have generated US$ 1.6 million ( RM8 million ) in revenue over the last 12 months.

Being the CEO of a business is a challenging and sometimes lonely journey, said Dr. Sivapalan Vivekarajah, co-founder of Proficeo and chair of the Soonicorn Collective. The most effective founders have had strong support systems and camaraderie with another founders, especially when it comes to building the company that is growing. ” &nbsp,

He continued, Not only does the Soonicorn Collective program help to advance leadership skills, but it also provides a unique setting for the selected owners to network and develop relationships with one another and with other successful unicorn builders. &nbsp,

This group of like-minded peers and a shared understanding of building successful businesses will be a great help for them in overcoming the difficulties of being CEO and the possibilities of creating rainbows, said Dr. Sivapalan.

The founder and CEO of Homa2U, an inexpensive, responsible home improvement company, Pennie Lim says:” As a business leader, the trip can often feel single. I long for a peer-to-peer area where I can openly discuss my issues and frustrations with like-minded, upbeat business people. With the launch of Soonicorn Collective, it seems like the perfect upgraded system where I may unlearn and rediscover strategies, enabling me to create a more effective company without taking unnecessary detours. ” &nbsp,

Lim continued,” I look forward to the opportunity to interact with this group, gain insights and assistance, and use business life’s complexities more effectively and efficiently.”

The founders held regular discussions in the previous 12 months under the program structure of 100Soonicorns where they discussed the numerous issues they encountered as they developed their businesses from the beginning stages to Series A stage and beyond. Additionally, the program gave them a chance to speak with seasoned fairy members who had previously raised money and created unicorns, such as Chu Jenn Weng of Vitrox and Moses Lo, CEO of Xendit, Steve Melhuish of PropertyGuru, Ronen Mense of Appsflyer, and Steve Melhuish of PropertyGuru. The members gain a distinctive learning experience as they contribute to the growth of their own businesses as they learn from society, managing sales teams, and going local.

Additionally, they had the opportunity to speak with officials and experts who taught them leadership skills, as well as local and global enterprise entrepreneurs from companies like Vertex Ventures, Gobi Partners, Golden Gate Ventures, and Khazanah Dana Impak. The founders of Kenanga Investment Bank took the most recent factory, where they learned how to Offering their business as part of their voyage from business to rise to return. These conversations and meetings provide a unique learning opportunity for the owners and professionals.

The Soonicorn Collective is dedicated to promoting habitat, business, and nation-building in addition to serving as a forum for learning and engaging with the neighborhood.

There is a movement sparked by this collective, led by Ramachandran Muniandy, CEO of Asia Mobiliti, a mobility-as-a-Service ( Maasas ) and digital city solutions company, and co-chair of the Soonicorn Collective shared. All boats are lifted by a rising sea. ” &nbsp,

He added that the owners have the chance to influence the splitting of the sky over Malaysia’s ability for a unicorn-building and witness the transformation of many current and future companies into regional and global champions as entrepreneurs for such a time in this country.

Soonicorn Collective is available for software. Those who are interested you find more details and the application form below.

The Soonicorn Collective’s Pioneer Founders are:
1&nbsp, Ramachandran Muniandy, CEO &amp, Co- Chairman, Asia Mobility Technologies Sdn Bhd
2&nbsp, Nadira Yusof, CEO &amp, Founder, Kiddocare Sdn Bhd
3&nbsp, Sharma Lachu, CEO &amp, Founder, Accendo Technologies Sdn Bhd
4&nbsp, Giden Lim, CEO &amp, Co- Leader, BLOOMTHIS Flora Sdn Bhd
5&nbsp, Keong Chun Chieh, CEO, Ominent Sdn Bhd ( IGL Coatings )
6&nbsp, Sharala Devi Balakrishnan, CEO, Center of Applied Data Science ( CADS )
7&nbsp, Mohamed Tarek El- Fatatry, CEO &amp, Co- Founder, Blue Bee Technologies ( ERTH App )
8&nbsp, Nuraizah Shamsul Baharin, CEO &amp, Founder, Madcash Sdn Bhd
9&nbsp, Lee William, MD, Easybook ( M ) Sdn Bhd
10&nbsp, Parthiven Shanmugan, CEO, TixCarte Sdn Bhd
11&nbsp, Effon Khoo, CEO &amp, Founder, Kakitangan.com
12&nbsp, Hui Yik Seong, CEO &amp, Founder, Direct Lending Sdn Bhd
13&nbsp, Pennie Lim, CEO &amp, Co- Leader, Homa Sdn Bhd
14&nbsp, Jayson Poon, CEO &amp, Founder, Payex Ventures Sdn Bhd
15&nbsp, Derek Tan, CEO &amp, Co- Creator, Sonicboom Solutions Sdn Bhd
16&nbsp, Sandeep Grewal, CEO &amp, Co- Creator, Subhome Management Sdn Bhd
17&nbsp, Gavin Liew, CEO &amp, Co- Creator, The Makeover Guys Sdn Bhd
18&nbsp, Gokula Krishnan Subramaniam, CEO &amp, Co- Chairman, Vircle Sdn Bhd

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Maybank and Gentari to collaborate on sustainability solutions tailored to individuals and SMEs

  • EV charging facilities to be installed by Maybank in a few trees
  • Consumers who use Gentari to finance their electric vehicles will be able to receive opportunities.

hahril Azuar Jimin, group chief sustainability officer of Maybank; Tuan Syed Ahmad Taufik Albar, group CEO of Community Financial Services of Maybank; Shah Yang Razalli, deputy CEO of Gentari and CEO of Gentari Green Mobility and Aliah Nasreen Abdullah, chief customer officer of Gentari Green Mobility at the official exchanges of documents ceremony.

A Memorandum of Understanding ( MOU) between Maybank and Gentari will allow for cooperation in green mobility and renewable energy solutions.

Through this partnership, Maybank Islamic’s InCharge pre- funds may be extended to incorporate Gentari’s charging channels, giving more exposure and benefits for customers. Genetari claims to have Malaysia’s largest system of DC fast chargers. With Maybank Islamic Vehicle financing and certificates redeemable at specific charging stations, the Maybank Islamic Incharge program is designed for EV owners and owners of hybrid vehicles.

Maybank says it will install charging points for electric and hybrid vehicles ( EV ) and other vehicles in its network of offices and branches nationwide, starting with ten carefully chosen locations, in conjunction with Gentari as the partner for clean energy solutions.

A really change in energy requires that various stakeholders work together to improve access to, sustain, and cost-effective energy. This partnership brings together Maybank’s set of financing and insurance options with Gentari’s clean freedom and clean energy offerings, demonstrating the dedication of like-minded partners who are working together to achieve a sustainable existence, according to Shah Yang Razalli, assistant CEO of Gentari and CEO of Gentari Green Mobility.

In Maybank’s myimpact SME Hub, Gentari may serve as the clear energy industry specialist, while Maybank SME consumers will also benefit from this partnership.

Maybank Community Financial Services ‘ Group CEO, Syed Ahmad Taufik Albar, emphasized the company’s commitment to achieving sustainable funding and serving as a key force behind low-carbon activities. We provide complete solutions in clean energy and natural mobility, according to Taufik Albar. ” Embracing our goal to Humanising Financial Services, we support our customers with a full ecosystem: best- in- course, value- based offerings that is both within and beyond standard banking”.

Different areas of collaboration include cross-branding and marketing efforts for all Maybank product lines, including those involving cards partnerships, plan, and takaful, as well as cross-branding and marketing efforts.

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Can Rais Hussin stamp his mark on Malaysia’s innovation ecosystem?

  • received a sizable grant from the government to enhance MRANTI
  • To utilize 4IR to enhance world’s food production, agency up food protection

Rais Hussin (right) at the launch of the Autonomous Vehicle Testing facility at MRANTI in late 2023.

The one thing that Dr. Rais Hussin is not is boring, regardless of whether you like him or not, and his turbulent two years as the non-executive chairman of Malaysian Digital Economy Corporation ( MDEC ) made sure that the ecosystem had one opinion or the other.

And that largely comes from his sincerity and natural desire to tell items as they are. When questioned in late 2020 why he was acting like an executive chairman and outstepping his authority at MDEC, he replied,” I am not here to be a cake breath chairman.” He may have denied, veered off, or simply sugarcoated the position, but Rais is not. Therefore the polarizing ideas he has.

And even when an MDEC administrative gives him breaks, it comes with a bite. ” He can bring money to the table as proven by how he convinced CIMB Bank to allocate US$ 2.12 million ( RM10 million ) in 2021 for an agritech focused&nbsp, micro- financing programme”.

Such was the success of the program that in 2022 and 2023 the government allocated MDEC funding of RM10 million and US$ 4.25 million ( RM20 million ) to expand its agritech drive. The professional stated that the government had not provided MDEC financing for agritech prior to this. Rais put the program up so rapidly, which was due to her having only been discussed and discussed in the past without any real action.

]RM1 = US$ 0.212]

However, his meddling with the operation of MDEC was on the other area. ” He does not know how to operate a government agency and his interference was ridiculous”, said the executive, adding,” The reputation of the Discretionary Authority Limit is something we are also living”, referring to a vital principle Rais introduced, designed to minimize the financial level by which MDEC officials had make funding/grant choices. Ras argued that some MDEC officials had abused the previous system because it was flawed.

You Rais move a government agency?

But, amazingly, Rais now has been given the opportunity to show that he can move a government agency. And Rais recently held a presentation for the advertising to promote some updates and give a hint that” there are more exciting and beautiful things coming in the near future” after sitting silent for almost five months since his wonder appointment as CEO of MRANTI in October 2023.

Bullish words for a business executive who has pledged to” we will not spend on anything that has no effect on society and the nation.” And to underscore this promise, he and then-Prime Minister Muhyiddin Yassin had a conversation while on his first official public meeting as chairman of MDEC in late 2020, when he was present for a major launch the organization had at a low-cost public housing area.

A resident took Rais to a run-down PC room with 40 desktop units, and he claims to have been turned aside by the resident. Only 20 of them were operational, and 15 of them, even here, had flickering screens.

How wonderful if we could get 40 new PCs instead of this event, the elderly resident thought to herself. Rais, who has since used the unforgettable encounter to guide him in how to create and deliver real, meaningful, and impactful programs for the country and its citizens while reducing showy spending, said:” His words hit me hard.” That MDEC program cost RM800, 000.

One important take away from the briefing is that Rais immediately demonstrates his ability to attract funding, which is in part due to the close working relationships he has with senior members of Prime Minister Anwar Ibrahim’s Pakatan Harapan coalition.

In essence, Rais argued to the Ministry of Finance and Economy Ministry where the 28-year-old park stood in relation to its appeal as a hub for innovation in its current aging state as opposed to the goals the government had for it. He also argued that proper investments were required to bolster MRANTI’s reputation as a world-class innovation hub. So what happened? &nbsp,

The government has acknowledged that comprehensive upgrades are necessary and has given the park’s 686 acre infrastructure a significant amount of funding, Rais said, who declined to disclose the amount that will be invested over a three-year period.

Even though there was a lot of flux at MDEC, Rais has adopted a supportive mindset at MRANTI in terms of his leadership team. He has repeatedly said,” I have an amazing team,” noting that the only new senior hire has been a” transformationist” in the procurement field and that there may be two more senior positions to be filled.

He said,” Those who know me, realize that I take governance very seriously,” in a nod to his prior experiences at MDEC. And in a different agency, I had taken a very robust approach. But not here. We have a fantastic team that is adaptable to change.

Rais at the media briefing.

innovation to address nation and citizen pain points

Moving forward, Rais stated that the Board’s intention is to “accelerate demand driven R&amp, D using 4IR to address national challenges” rather than the name MRANTI ( Technology Innovation Park Malaysia ).

The use of 4IR is no coincidence as Rais has co- authored a book in 2019 ‘ 4IR – Reinventing A Nation”. He also mentioned that Mosti has appointed MRANTI as an organization that is “tasked with facilitating addressing food security using 4IR,” and that we are working very hard in this area because Malaysia’s food bill in 2023 was around RM72 billion, excluding dried and processed food.

No specific plans have been made by MRANTI in this regard, with Rais looking to Qatar for inspiration. The tiny country benefited greatly from relying on 4IR technologies to undergo a dramatic transformation, going from importing most of its food needs to becoming an exporter. To learn from the desert nation, two teams will be sent to Qatar.

Rais insists that the MRANTI approach does n’t just involve copying others. Innovation must address the pain points of the nation, “he said while highlighting that around 97 % of people want five things in their lives – affordable cost of living, affordable and quality healthcare/education/housing and dignified jobs.

As we continue to position Malaysia as a leader in technology production and the nucleus of innovation, these are the pain points we need to address.

Without a doubt, these are ambitious objectives for Rais and MRANTI, taking into account the reality that the agency cannot significantly slow the pace of innovation in the nation by itself, with its business model of collaborating startups, the private sector, and academia in their innovative endeavors while enticing regional and international corporations to set up their innovation centers at MRANTI, utilizing its 686 acre landbank to generate revenue.

On 5G, MRANTI provides a drone and an area for autonomous driving testing. However, despite the facilities being provided, use of the two test zones entirely depends on ecosystem players, including businesspeople, corporations, and academics, for their testing. MRANTI has no funding or grants to distribute, nor does it have any valuable IP or researchers to share with ecosystem partners.

According to Rais, there is a reality to be had if he is to predict “exciting and sexy” developments to come. He states that the goal is for 2024’s revenue to increase 29 % while maintaining positive EBITDA, compared to 2023’s revenue of RM126.2 million and RM17.5 million.

An artist impression of MRANTI from the previous CEO, Dzuleira Abu Bakar's time.

Chinese investments are being made

Some of the exciting developments to come stem from a Dec 2023 trip to China, visiting some leading companies there, including Geely, pitching MRANTI to them. Rais anticipates that two universities will open campus branches, one AI company to launch an innovation center, and the other to establish operations with another company opening an innovation center at MRANTI.

An AI capacity development program will be launched by a global tech company, reportedly Nvidia, for free to increase their job prospects with another 1, 000 spots for startups, which is a more immediate development that he is excited about, and it’s because it cost him nothing to put together.

This project also serves as an example of Rais ‘ ability to maneuver with discernibility and deftly navigate layers. The tech company had tried for years to offer the government the project to improve AI skills. They agreed to support the project on the spot and their chairperson, Prof. Dr. Rofina Yasmin Othman, at the meeting that Ras organized. Rass then instructed the executive to allow him to spend the night at his leisure, and that evening he and Zambry Abdul Kadir, the minister of higher education, met to discuss the initiative with him.

The launch will see both Zambry and Chang Lee Kang, the Minister of Science, Technology, and Innovation in attendance. Rais ‘ agency sits under Chang’s portfolio”. I am Mr. Zero Capex and “quipped Rais of the project that will be launched end of April.”

The greatest challenge

Despite a few early victories, Rais is unsure of how significant a challenge lies ahead for the nation in terms of innovation advancement. He now understands the enormous challenge that lies ahead thanks to his trip to China and particularly the innovation park Zhongguancun Science Park (Z-Park ) in Beijing.

While serving as one of the many innovation parks in the greater Beijing area, the park has hosted an astounding 108 unicorns, each with a number of leading local and international businesses as tenants. ” Every visit to the park left me feeling depressed back at the hotel,” Rais said,” so vividly recalled a time when Malaysia was ahead of China ( before it opened its borders and joined the WTO in 2001 ). But now we are 30 to 40 years behind them”.

Where are we failing to act morally? What can we do that they cannot do? In his head were these questions lingering. However, this was the one constant response Rais would receive from his Chinese hosts. Their success was attributed to the top-down approach the nation took to innovation. It is incorporated into all the verticals they want to become leaders in, Rais said.

It will be Rais ‘ greatest challenge, and it will result in many sleepless nights for him, to try to replicate this in the Malaysian context and the capabilities of its entrepreneurs, businesses, and researchers.

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Joel Neoh's First Move fuels Malaysian startups with10 investments in its first year

  • Investments&nbsp, primarily to Malaysians &amp, KL- based members, US$ 100k regular payment
  • Partnership view by co- engaging with Vertex Ventures, 500 Global, Gobi Partners

In tackling workplace gender and racial disparities, First Move supports the MalaysianPAYGAP initiative, which champions equal pay and career opportunities.

Second Walk, an early stage account, created by companies for businesses, is making moves in the Malaysian company picture by backing its second 10 projects in the first year. First Move is injecting considerable capital into the growth of the ecosystem, providing much-needed first funding support during a critical but frequently overlooked phase, with its special focus on earlier- stage founders.

In its inaugural year, the bank has invested the majority of its cash to Malaysians and Malaysia- based members, with an average purchase dimension of RM467, 000 ( US$ 100, 000 ) per business. The fact that 35 % of the members are supported by people underscores the bank’s commitment to diversity and inclusion. Also, First Move has funded first level customer firms in Singapore, Indonesia and Vietnam.

First Move’s latest investments in Malaysia underscore its commitment to effect investing, with a focused strategy on pricing, economic participation, and round economy. These strategic investments aim to promote regional sustainable and inclusive growth.

Koppiku hopes to transform the coffee industry by lowering the cost of premium daily items, expanding the supply chain, and fostering more local jobs. In tackling workplace gender and racial disparities, First Move supports the MalaysianPAYGAP initiative, which champions equal pay and career opportunities, contributing to broader social equity.

3Cat supports device trace-in, repair, and reuse, significantly reducing waste and extending the lifespan of technology.

3Cat is leading the charge by enabling device trace- in, repair, and reuse while furthering the circular economy in the sustainable consumer electronics space. This initiative significantly reduces waste and increases the technology’s lifespan. Furthermore, enhancing access to niche markets, First Move’s investment in Collektr connects collectors of unique items, showcasing a commitment to improving circular commerce and fostering community engagement.

First Move multiplies its impact on the Malaysian startup ecosystem by combining early- stage investments with strategic co- investments alongside leading venture capital firms, including Vertex Ventures, 500 Global, Gobi Partners, and more. This approach not only provides startups with essential financial support but also grants them access to a wealth of networks, expertise, and mentorship. This cooperative approach ensures that these brave businesspeople are prepared to face off on a global scale.

Joel Neoh and Audra Pakalnyte, Partners at First Move have a strong focus on early-stage founders, providing much-needed funding support during a crucial but often overlooked phase. At the same time, a significant 35% of the founders supported are women, underscoring the fund's commitment to diversity and inclusion.

” We are excited about the impact in our first year of operation”, said Audra Pakalnyte, Partner at First Move. Our investments in Malaysian startups have attracted international investors ‘ attention and interest as well as fueled their expansion. We are proud to be a part in the growth of Malaysian startups and look forward to carrying out our mission, which is to provide visionary founders with the resources they need to succeed.

First Move’s entry as an early investor complements the ecosystem established by key Malaysian enablers like Khazanah, Penjana Kapital, Malaysia Venture Capital Bhd ( MAVCAP ), EPF, and KWAP, encouraging more entrepreneurs to launch their ventures.

This synergistic approach promotes local talent by providing essential resources, promoting economic growth, and creating jobs, as well as accelerating the development of scalable ventures. Consequently, the broader aim is to reinforce Malaysia’s emergence as a vibrant hub for entrepreneurship, fostering a culture of innovation and technological advancement.

For more information about First Move and its investments, please visit www. firstmovefund.com.

Collektr connects collectors of unique items, showcasing a commitment to improving circular commerce and fostering community engagement.

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MYStartup selects 26 startups for their pre-accelerator cohort 3

  • From 4 major sectors: green technology, intelligent living, hospitality, digitalization
  • Provides access to a supervisor community, development hubs, and market exposure

The selected startups with Cradle and Growth Charger execs.

MYStartup, in partnership with Indonesian based company pedal, Growth Charger, has selected 26 substantial potential businesses, from 136 applicants across Malaysia, for the MYStartup Pre- Accelerator Cohort 3 Program. The companies will go through a four-month customized program designed to accelerate their progress toward achieving product-market accommodate and support the startup ecosystem’s general expansion.

The startups cover four key sectors: green tech, bright life, hospitality, and digitalization, including data solutions, professional IoT, and robotics. The selection process comes at the heels of the past cohort MYStartup programme, which saw similar higher- potential companies such as Materials In Works, Sayur Kita School, Luwjistik, Axcyn, Certiify, and more, gaining a leg off through MYStartup.

With the financial success of the country centered on the success of its entrepreneurs, there is an urgent need to promote an inclusive, higher- performing, and green entrepreneurship ecosystem, especially among the Small &amp, Medium enterprises which account for almost 98.5 % of business entities in the country, accounting for 66 % of the workforce said Norman Matthieu Vanhaecke, Group CEO of Cradle.

We are thrilled to see Malaysian technology startups gain from this program and look forward to seeing significant growth. Malaysia is rapidly emerging as a major player in the Southeast Asian technology and innovation sector, which is in line with the country’s 2030 goal of being among the top 20 global startup ecosystems.

[ Note: The US-based Startup Genome and Global Entrepreneurship Network’s ranking as the Global Startup Ecosystem Report, or GSER, is based on the aspiration to be among the top 20 startup ecosystems, not countries. There is a Top 30 rankings and a new category introduced in 2020 called Top 100 Emerging Ecosystems. Kuala Lumpur is ranked 11th in this regard. KL’s ranking decline in the 2023 GSER was despite an effort to improve its performance in partnership with Startup Genome, which was unfavorable.

The Pre- Accelerator offers a comprehensive package, made for dedicated startups aiming to validate their concepts. This includes access to a mentor network, innovation hubs, and market exposure. The programme encompasses strategic learning modules, on- demand resources, hands- on mentoring, collaborative spaces, networking events, and strategic connections within the ecosystem. The objective is to assist startups in creating viable business models and securing growth opportunities.

” Throughout these four- months programme, it’s all about Product- market fit. We are eager to witness remarkable achievements from the 26 startups spanning various sectors such as SaaS, E- commerce &amp, Marketplace, Artificial Intelligence, Machine Learning, and more. Speak to your customers, refine your product and think about scale, We anticipate future accomplishments in the coming months under Growth Charge”, said Iskandar Shafi’i, the Director of Growth Charger.

Our mission at Rabt is to create a premier Islamic storytelling and knowledge-sharing platform, as well as providing a top-notch user experience and connecting users with renowned voices in the Islamic world. This programme is a unique opportunity for us to accelerate growth, secure investment, and expand our reach across Southeast Asia, beginning with Malaysia. Through the Pre- accelerator programme, we aim to secure investments and achieve 30, 000 monthly active users”, said Hasam Khan, CEO of Rabt, one of the shortlisted companies in MYStartup’s Pre- Accelerator Programme.

The MYStartup Pre-Ameritober program, which aligns with the Malaysian Startup Ecosystem Roadmap ( SUPER ) 2021- 2030, aims to advance the Malaysian ecosystem by creating more creative and high-quality startups.

The list of 26 shortlisted companies include:

  1. Agrofly– Producing biofertiliser through insect frass degradation.
  2. AIMS– Artificial intelligent marketing system.
  3. AidEye– Your AI guide for using digital services for daily tasks.
  4. Beseek– Introducing the future of work in the GenAI era by increasing productivity by locating valuable information in cluttered documents.
  5. Bettercopy– Unleashing your revenue growth through AI.
  6. BOSSREC– A booking platform system for recreation.
  7. Compere– A marketplace that makes it simple for event organizers and vendors to connect with one another.
  8. Deepsight– A learning resource designed to aid medical professionals in enhancing and enhancing their capacity to better understand and interpret ECG more quickly.
  9. Providing access to authentically healthy farmed food and daily necessities from Eatsyfarm.
  10. FinDoc– AI-driven online financial screening tool that makes it simple for users to locate the best financial products and services from various banks without going through them one by one.
  11. FitDoc– A telemedicine company that specializes in online consultations, addressing critical health concerns such as obesity, family planning, sexual health, and HIV prevention.
  12. Good Stuff Alliance– A digital platform that allows business owners to sell nearly stale goods at a discount to customers who want to save money.
  13. Komers– A one-click checkout procedure that helps make the buying and after-sale process easier for more customers to become buyers.
  14. Komplen– A platform where users can complain to various authorities, all in one place.
  15. Mywheels is a platform for everything and anything that involves wheels.
  16. Pajak- i- An all-in-one online platform for the micro-finance sector.
  17. Pixalink– A cloud-based customer acquisition and engagement system for SMEs to automate the interaction with your customers.
  18. Practistica– A one stop solution for lecturers/teachers to an online question marketplace, classroom grading software &amp, students ‘ analytics software
  19. Propmoth: A platform that helps people find properties the smartest.
  20. Pycehub– A web service that connects owners and clients to increase revenue for them and make bookings easier for them.
  21. Rabt– Redefining the Islamic narrative by creating the Spotify of Islam
  22. Scancer AI: Using AI, early detection can be made more accessible for everyone.
  23. Staywokeproperty– A one- stop rental management solution, where all ends meet for effortless rental transactions.
  24. A CSR management system powered by AI called Volunti Connect that has revolutionized CSR initiatives and funds.
  25. WebX– Using AI to create simple, affordable websites in three days.
  26. Wellness 96 Empire– AI powered digital one- stop digital wellness platform offering curated, certified coaches, personalized plans &amp, community engagement.

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Cult Creative reinvents collaborative content creation: Extending services to agencies

  • strengthen agencies to fully exploit the potential of creative creator marketing
  • System, ready in six weeks, will aid agencies to identify and crew creators

Cult Creative reinvents collaborative content creation: Extending services to agencies

Cult Creative, a martech company in Malaysia, has announced its new product providing to become a trusted organization online partner. Through innovative User- Generated Content ( UGC ) service, Cult Creative, which started as a skill platform for artists in March 2020, said it aims to revolutionize customer strategies. With an extensive network of over 13, 000 developers and 1, 100 companies across Malaysia, Indonesia, Singapore and Australia, Cult Creative said it expects to alter the landscape of creative content development.

Cult Creative has expanded its UGC services to work directly with agencies, positioning itself as an invaluable extension of its teams. As a creator marketing agency for brands like Farm Fresh Malaysia, Bata Malaysia, and Hotel Indigo by IHG, it has expanded its UGC services. Through a unique agency credit system, organizations can use Cult Creative’s services on multiple brands in their portfolios to streamline operations and increase efficiency.

Cult Creative reinvents collaborative content creation: Extending services to agenciesShermaine Wong ( pic, right with co-founder Lina Esa, co-founder and CEO of Cult Creative ),” Our evolution into an agency affiliate partner marks a significant milestone in our journey.” By offering our services to businesses, we aim to provide them with the resources and tools necessary to unlock the full potential of collaborative creator marketing.

Cult Creative is dedicated to facilitating seamless collaborations while upholding brand standards and campaign objectives. The platform, which is being developed right now and will be ready in about six months, aims to help agencies find and hire creators, making sure that each piece of content resonates with viewers with curated insights and organized procedures.

By acting as a bridge between agencies and creators, ensuring that the outcome is effective and impactful, Culture Creative offers a distinctive value proposition. We appreciate the team’s dedication to detail, the affordable pricing for creators, and the systematic workflow process”, said Charmaine Chow, Head of Brand and Marketing at Farm Fresh.

Cult Creative, which in Jan raised a US$ 107, 500 seed round, already counts industry- leading agencies, including Mad Hat Asia, Bike Bear, AVANT- X, and Wavemakers Collective as partners in its affiliate model. These collaborations demonstrate its commitment to driving meaningful engagement and producing tangible outcomes.

Cult Creative’s services and the transformative impact of strategic partnerships are invited to explore the power of collaborative content creation.

Cult Creative reinvents collaborative content creation: Extending services to agencies

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Carsome announces strategic changes to strengthen C-suite bench 

  • Eric Chan assumes the positions of party COO and group president.
  • Juliet Zhu may serve as the management team’s consultant.

Carsome announces strategic changes to strengthen C-suite bench 

The largest included car e-commerce platform in Southeast Asia, CARSOME Group, has made proper leadership transitions to further its commitment to growth and administrative efficiency.

Effective March 1st, Eric Chan ( pic ), former regional managing director at Jardine Cycle &amp, Carriage Limited ( Singapore, Malaysia, Indonesia, and Myanmar ), assumes the roles of Carsome group president and group COO, overseeing all operations across the group’s Southeast Asian footprint. &nbsp,

Chan’s appointment highlights Carsome’s strategic plan to improve operational efficiency and green growth with nearly three decades of intensive administrative experience in the automotive sector.

Chan’s career began as a vehicle sales specialized before moving on to become the managing director of Cycle &amp, Carriage Singapore, along with other significant positions like chair of the Cycle &amp, Carriage Bintang table and director on the PT Tunas Ridean TBK’s board. Now, he serves as an independent chairman at AcroMeta Group Limited, an purchase holding company listed on the Singapore Stock Exchange.

In this transition, Aaron Kee, former COO, will now serve as group chief business officer ( CBO ), focusing on integrating strategies within the Carsome ecosystem, leading business development, and identifying new prospects.

Juliet Zhu, who has tremendously influenced Carsome’s success, will step down from her position as president and work as an assistant to the management team, allowing the business to continue to benefit from her knowledge and experience.Carsome announces strategic changes to strengthen C-suite bench 

Our leadership change is a conscious choice to capitalize on our group’s vast capabilities in the face of our lofty goals. The leadership changes are timely and align with the company’s trajectory toward sustained growth and market leadership”, said Eric Cheng ( pic ), co- founder and CEO of Carsome.

He continued,” The CBO placement is designed to make the most of Kee’s extensive experience and insight, and it will allow us to discover and establish new partnerships and foster cross-functional synergies within our businesses.”

” Chan’s significant career in electrical leadership, especially his work at Jardine Cycle &amp, Carriage, makes the market senior a valued contrast to our Carsome home. His creative thinking and unwavering commitment to excellence are inseparably linked to our desire to improve the automotive industry, and we look forward to assisting him in guiding Carsome’s regional operational goals, Cheng said.

I’m committed to expanding on the company’s reputation and pushing the limits of what we can accomplish in the sector, along with the group. It is about corporate innovation, cooperation, and delivering substantial value to our clients and stakeholders”, Chan said. &nbsp, &nbsp,

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CelcomDigi MY5G CEO Series 2024: 5G, AI and cloud open possibilities for Malaysian enterprises

  • aims to number two more lessons this year, respectively.
  • Session explored 5G insight, offering M’sian companies development and growth lines

 Left to Right: Peter Murray, country manager Malaysia, Amazon Web Services, Haji Rodzi bin Md Saad, secretary-general, Ministry of Digital, Gobind Singh Deo, minister of Digital, Albern Murty, deputy CEO, CelcomDigi, David Hagerbro, President & CEO, Ericsson Malaysia, Sri Lanka and Bangladesh and Afizulazha Abdullah, chief enterprise business officer, CelcomDigi 

The first treatment of CelcomDigi Berhad’s three-part MY5G CEO Series in 2024 was held at a group of business leaders and decision-makers to explore new opportunities created by the integration of 5G, artificial intelligence ( AI), and fog computing, aimed at accelerating growth and change for the next generation of Malay companies.

The period covered actionable perspectives on 5G and highlighted transformative possibilities for Malaysian companies to accelerate innovation, travel progress, and thrive in the digital age. It featured loudspeakers from global strategic partners and engineering enablers like Amazon Web Services ( AWS), Ericsson, and Nupo Ventures.

The session emphasized the value of developing a solid ecosystem with interested parties from various industries for 5G to succeed.

For the next version of CelcomDigi’s MY5G CEO Series this year, CelcomDigi will host two additional classes, featuring speakers from respected tech firms like ZTE and Huawei, among people. Through these creative efforts, the business aims to pave the way for advancements in smart cities, modern care, e- learning, and more, driving Malaysia towards its ambition of becoming a leading online nation, fueled by digitalisation of industries.

During the celebration, Malaysia’s Digital Minister, Gobind Singh Deo, called for more proper collaborations among market players while highlighting the government’s vision for a modern nation. ” We’ve witnessed a number of successful partnerships that have fueled the growth of 5G.” We must continue to forge ahead, to push for greater adoption. If we want to stay relevant and competitive, then this transformative journey is essential to our nation’s survival.

He continued,” You can see how close collaborations with government entities can accelerate 5G adoption across a broad range of Malaysian businesses and industrial sectors, and that the Government cannot be undertaken alone.”
Meanwhile, CelcomDigi’s deputy CEO, Albern Murty, stated, “5G can make a real difference in actualizing enterprise use cases- the only limit is set by our appetite to reimagine our businesses with emerging technologies”.

He continued, citing the potential for “industrial Internet” with the ability to connect a number of machines and applications to cloud and AI-powered services. The company believes that strategic partnerships are transformation accelerators, which is why it has gathered decision-makers from various industry verticals to exchange actionable insights and create an environment conducive to potential collaboration.

” With our 5G for all mindset, we will continue to create new platforms to drive 5G adoption and 5G solutions development to benefit all segments of society, from consumers to SMEs to enterprises, enabling Malaysia’s digital ambitions”, Albern said.

The MY5G CEO Series is a component of a larger CelcomDigi MY5G Series, which aims to assist Malaysian businesses of all sizes in digitalizing their operations. The company will organise additional programmes, including hands- on digital workshops tailored for micro, small, and medium Enterprises across several states nationwide. &nbsp,

These digital workshops will give SMSEs the chance to learn and discover appropriate 5G and digital solutions to begin their journey to digitalization. &nbsp,

Later this year, CelcomDigi will host a sizable 5G business conference and tech showcase in Kuala Lumpur to inspire corporate Malaysia and large SMEs to use 5G to advance their transformation goals.

For more information on CelcomDigi’s business solution, please visit https ://business.celcomdigi.com

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