Startups – Page 2 – Sure A Not

PM courts US cash on trip

By: Barkar Nash

On: November 12, 2024

In: South-East Asia

Thai ambassadors urged to attract buyers

PUBLISHED: 13 Nov 2024 at 04: 45

Prime Minister Paetongtarn Shinawatra receives a garland from youngsters who came to perform for her at a reception at a Thai community in Los Angeles, where she is chairing a meeting of Thai ambassadors and diplomats until Wednesday before attending the 30th Apec Summit in Lima, Peru, from Nov 14-16. GOVERNMENT HOUSE — Before the 30th Apec Summit in Lima, Peru, on November 14 and 16, Prime Minister Paetongtarn Shinawatra is invited to perform for her at a reception at a Thai society in Los Angeles. GOVERNMENT HOUSE

Following Donald Trump’s win in the US presidential election, Thai officials have been urged to take a proactive strategy in attracting foreign buyers, according to Thai Prime Minister Paetongtarn Shinawatra on Tuesday.

She addressed the remarks to Indian ministers, consul generals, and Team Thailand leaders based in North and South America at a conference held at a hotel in Los Angeles.

Before flying to Peru for the 31st Apec Economic Leaders ‘ Meeting and related meetings scheduled for November 10 to 16, the prime minister and her group will be in Los Angeles on Wednesday.

She claimed that now that Mr. Trump has been elected president, the government is getting ready for a change in the political environment.

She also emphasized the importance of Thai officials, business attaches, and board of funding representatives taking a proactive approach and acting as the nation’s “front line” to attract foreign investors.

Diplomats should make their government’s activities known. The government is making every effort to help Thailand with its financial problems by bringing as little money as possible.

It is necessary to look for new opportunities and partnerships that will boost the economy. I want the officials to focus on promoting purchase,” Ms Paetongtarn said.

She added that when developing and implementing common policies and services, the state places a focus on people.

She said Thailand boasts a wealth of expertise, but many of the region’s brightest thoughts now work elsewhere. The government is therefore working to boost the economy, create more options, and entice Thai ability to work there.

The government’s “matching fund” was established to develop the Thai private sector’s markets, the prime minister added, stressing the need to encourage startups.

In contrast, the state has a plan that supports Thai individuals ‘ studies abroad. Students who want to advance their studies in fields like aerospace and electronic technologies will receive scholarships.

The government may try to ensure social stability, according to Ms. Paetongtarn, to improve investor confidence.

She even assured me that the government would continue in power until the end of its term to maintain consistency with the way its investment plan is implemented.

Thai ambassadors from North and South America likewise provided the PM with updates on a number of problems during Tuesday’s meet. Suriya Chindawongse, the US embassy, gave the PM a briefing on US politicians and potential economic growth, and stated that Thai investors were being encouraged to make more US investments.

In the winter, the French ambassador, Kallayana Vipattipumiprates, informed the prime minister that French visitors enjoyed daily direct flights between Vancouver and Thailand.

Wimonpatchara Raksakiat, the Thai adviser to Chile, informed the prime minister about the country’s soft power advertising policy.

The prime minister responded by saying that the government supports international experts ‘ knowledge markets and teaching of Thai staff in a variety of new areas, which it believes will expand the country’s appeal further.

According to government official Jirayu Houngsub, Ms. Paetongtarn also went to a Thai church in Los Angeles on Tuesday, where she met members of the largest community that, which is located outside of Thailand.

During the explore, she accepted a US$ 30, 000 payment from the Thai community to help flood victims in Thailand.

She also praised Thai foreigners who lived in the US and encouraged them to travel back and utilize their expertise and knowledge to advance Thailand.

Sunway iLabs-Jetro partnership secured US.2 mil for Japanese startup global expansion

Sunway iLabs-Jetro partnership secured US$2.2 mil for Japanese startup global expansion

By: Mary Blight

On: November 12, 2024

In: Technology

Both events have accelerated 30 companies &amp, launched 15 captain projects&nbsp,
Through Sunway City Kuala Lumpur, a partnership connects Chinese startups to SEA.

Sunway iLabs-Jetro partnership secured US$2.2 mil for Japanese startup global expansion

Five years of cooperation between Sunway iLabs and the Japan External Trade Organization ( Jetro ) Kuala Lumpur have fueled cross-border innovation and strengthened the startup ecosystem in Malaysia and Japan.

Both parties stated in a speech that Sunway City Kuala Lumpur’s attractive ecosystem serves as a launcher for entry into the South Eastern market by this long-standing alliance, which has brought up leading Chinese startups and scale-ups in modern transformation and sustainability.

The partnership has achieved notable milestones, including accelerating 30 startups, launching 15 pilot projects, and securing over US$ 2.2 million ( RM10 million ) in funding for technology localisation, development, and commercialisation in Malaysia and beyond.

Sunway iLabs-Jetro partnership secured US$2.2 mil for Japanese startup global expansion According to Matt van Leeuwen, CEO of Sunway iLabs and general development officer of Sunway Group,” Innovation and sustainable development are in Sunway Group’s DNA. That’s how Sunway transformed an abandoned tin-mining area into Malaysia’s second incorporated bright and lasting city, Sunway City Kuala Lumpur, where collaborations have led our partnership journey.”

” 2024 marks a major step with Jetro as we celebrate five decades of association. Collectively, we’ve fuelled cross-border development, helped businesses thrive, and witnessed effect across several sectors”, van Leeuwen added.

However, Koichi Takano, managing chairman of Jetro Kuala Lumpur, commented,” Our relationship with Sunway iLabs has enabled Chinese companies to explore the Malay business. It also facilitates information exchange, pilot tasks, and long-term cooperation, advancing important targets like green transition and net-zero target”.

Toybox Creations and Technology Sdn Bhd ( Toy Eight ), an AI-driven edtech startup that established its Malaysian business presence in 2020, expanded into neighboring nations, and won the Best Startup at the 2024 One Asean Startup Award, is a notable student of the Sunway-Jetro Accelerator.

In collaboration with Sunway Group and its partners, the Sunway iLabs–Jetro Green Transformation Accelerator ( GXA ) Programme focuses on sustainability and provides startups with an immersive platform within the Malaysian business ecosystem.

The program was renamed in response to its move toward green technology and commitment to Malaysia’s net-zero goal by 2050. It was previously known as the Digital Transformation Accelerator ( DXA ).

Five vetted startups with specialized conservation knowledge just completed the second GXA large and are now working on pilot projects in Malaysia. These include:

Innoqua: Using AI/IoT, Innoqua recreates coastal communities on land to help types duplication and research, such as studying repellent effects on coral. Learn more here: http ://corp.innoqua .jp/en
Godot: The AI-driven platform of Godot helps identify behavioral gaps that promote green growth and innovation in healthcare. Learn more here: https ://godot.inc/en/
PNH ( AirX Coffee ): AirX Coffee produces bioplastics from coffee grounds, reducing plastic pollution. Biochar is produced effectively for fertiliser and clean energy thanks to the CarboneX initiative. Learn more here: https ://airxcoffee .jp/en/, https ://upcycletech .jp/en/top-en/
PtBio: PtBio addresses social issues through genome analysis and enhancement of organism functionality. Learn more here: https ://www.pt-bio.com/en

The GXA programme attracted Sunway Group’s business units and corporate partners, including private and government-linked companies, all committed to green transformation. Malaysia’s government organizations, including the Selangor Information Technology and Digital Economy Corporation ( SIDEc ), and the Malaysia Research Accelerator for Technology & Innovation ( Mranti). At the Selangor Smart City &amp, Digital Economy Convention at KLCC on October 17, 2024, the five startups pitched and networked.

Through its Greater KL Live Lab initiatives, with which Sunway iLabs has been a key partner since 2019, InvestKL has assisted Japanese startups in advising them on how to start a business in Malaysia.

After five impactful years, Sunway iLabs and Jetro Kuala Lumpur stated that they remain committed to advancing innovation, sustainability, and cross-border growth.

Collektr secures US.3mil in pre-series A funding led by AC Ventures Malaysia

Collektr secures US$1.3mil in pre-series A funding led by AC Ventures Malaysia

By: Mary Blight

On: November 11, 2024

In: Technology

Set to grow throughout Asia and transform the souvenirs industry.
The Hive Southeast Asia, Creador Foundation &amp, 18 god owners take piece

Collektr said it has achieved strong growth, surpassing over 10,000 monthly active users.

Collektr, the first and premier livestream collectibles platform in the Asia-Pacific ( APAC ) region, has secured its pre-Series A funding round, bringing its total investment to US$ 1.3 million ( RM5.74 million ) to date. With its goal to change the collectibles marketplace across APAC, Collektr‘s modern role in the growing livestream commerce sector is highlighted by the investment.

Led by AC Ventures Malaysia, this square also saw contribution from The Hive Southeast Asia, Creador Foundation, and 18 popular angel investors, including seasoned managers and owners from different companies.

Building on the speed of Collektr’s plant large led by First Move, the new investment may fuel Collektr’s progress across the APAC area.

” We are honoured by the trust our investors have placed in Collektr’s vision to spearhead the future of collectibles and livestream commerce”, said Adlin Yusman ( pic, below ), CEO of Collektr. This funding enables us to expand rapidly throughout the APAC area, starting with Singapore, while also continuing to provide collectors with a powerful and stable platform. We invite regional businesses and retailers to meet us in creating a radiant ecosystem where enthusiasts can discover, link, and indulge their passions through creative livestream auctions.

Adlin Yusman making his pitch at the MDEC organised, Level Up Play in KL.

Ng Yi Chung ( pic ), Partner at AC Ventures Malaysia said,” Livestream commerce is a multi-billion industry that is growing rapidly. Collektr’s daring, revolutionary approach with the ability to perform live-bidding has really revolutionized how to delight and excite customers. Collektr secures US$1.3mil in pre-series A funding led by AC Ventures Malaysia captured the interest of regional buyers. We think they are heading in the right direction to fundamentally alter the world of souvenirs and live-streaming. This investment is n’t just about fueling growth, it’s about backing Collektr to take risks, break the mould, and set a new standard for online auctions and marketplaces”.

Since its album in April 2023, Collektr claims it has emerged as APAC’s top video app for items. It offers over 100, 000 special, authorized products from a fast growing community of trusted dealers across high-demand groups like Trading Card Games, Comics, Sneakers, Handbags, and Art. Collektr’s commitment to quality, accountability, and safety sets it apart in the industry, with a thorough screening process for every seller and a strong dispute resolution system that ensures trust in every transaction.

Collektr reported that its growth rate exceeded the engagement metrics used by traditional e-commerce startups, surpassing over 10,000 monthly active users, and exceeded those of Collektr. Its expanding seller base and user loyalty strengthen its position as the market’s leader in an ever-evolving market, while its dynamic approach to livestream commerce has made it the go-to destination for collectors. It is actively seeking strategic partnerships with sellers, merchants, and collaborators to enrich its marketplace with exclusive, rare, and unique items.

The startup is working hard to create a safe, entertaining, and rewarding marketplace for all by creating a vibrant collector community across APAC and invites sellers and potential partners from across APAC and beyond to participate in its journey.

Adlin (4th from left) with the Collektr team. Co-founder Saida Azizi is 2nd from right.

MAS network to bolster ‘global south’ as fintech hub | FinanceAsia

By: Marcus Ching

On: November 9, 2024

In: Asia, Finance, South-East Asia

The Monetary Authority of Singapore (MAS) announced the establishment of the Global Finance and Technology Network (GFTN) on October 30, an ambitious initiative designed to reinforce Singapore’s standing as a global fintech leader and boost the tech potential of the ‘global south’.

Headed by Ravi Menon, former managing director of MAS from 2011-2023, the GFTN aims to “enhance global connectivity for impactful innovation in financial services”.

Menon old a media briefing that networks such as the GFTN aimed to tap the potential of the “global south”.

Beyond Silicon Valley

He said it was important to broaden fintech innovations beyond traditional centres like Silicon Valley and London to emerging cities such as Nairobi, Jakarta, and São Paulo.

He said that by 2030, the Asia-Pacific region is predicted to become the world’s largest fintech market, with Africa and Latin America projected to grow by 30 per cent annually. Yet regions like Sub-Saharan Africa and the Middle East still faced substantial funding gaps, noted.

Through GFTN, Singapore would aim to address these inequalities by providing resources, infrastructure, and collaborative frameworks to foster sustainable growth, especially in underserved regions.

“Through our networks and partnerships, GFTN will aim to unlock sustainable and inclusive pathways that serve communities facing critical gaps,” Menon said.

He added that the world is “entering an era of growing digital connectivity across borders” starting with electronic payments and progressing toward universal trusted credentials and data exchanges.

Getting cross-border digital infrastructure right, he added, would be critical.

After years of experimentation, Menon stated, “the tokenisation of financial assets has reached a tipping point” with billions of dollars of financial assets now on-chain.

However, he noted that “the promise of a tokenised financial system has not materialised,” indicating it was still a work in progress.

Quantum leap

He observed that artificial intelligence is beginning to make significant inroads into financial services, bringing both AI-powered innovations and potential risks.

Menon pointed out that if quantum technologies develop, the coupling of AI and quantum technologies would “unlock new opportunities as well as unprecedented security challenges”.

Addressing climate change had also become a growing focus for the financial sector, he said, with increased interest in climate tech solutions for both carbon mitigation and climate resilience.

All these advancements, according to Menon, would demand “closer and more meaningful engagements between countries (and) between the public and private sectors” couple with coherent policies and regulations to “harness the benefits of these technologies while mitigating their downsides”.

GFTN initiatives

The GFTN will be launching four key initiatives as a part of its scope:

GFTN Forums will expand Elevandi’s five flagship events, including the Singapore Fintech Festival (SFF), to foster cross-border collaboration with experts worldwide. Elevandi – to be replaced by GFTN -is a not-for-profit entity set up by MAS to connect people and businesses, ideas and insights in the fintech sector in Singapore and globally.

GFTN Advisory will offer practitioner-led consultancy to help developing economies build digital infrastructure, form innovation-friendly policies, and support social-impact-driven private entities with market insights.

GFTN Platforms which will empower small enterprises and startups through digital services, improving market access, analytics, and sustainability reporting.

And lastly, GFTN Capital that will target early- and growth-stage startups in fintech and climate tech, providing patient capital and global partnerships to promote financial inclusion and environmental sustainability.

China’s .4 trillion debt swap girds for Trump tariffs to come – Asia Times

China’s $1.4 trillion debt swap girds for Trump tariffs to come – Asia Times

By: Bolen C

On: November 8, 2024

In: Asia

The US$ 1.4 trillion debt swap package announced by China today ( November 8 ) may have a more significant impact than what might seem.

The shift to mortgage regional authorities bill, approved by the Standing Committee of the National People’s Congress, marks the first such effort since 2015 to increase the debt roof for communities.

It comes amid concerns about a new Donald Trump presidency that will restore world trade wars, inflationary pressures, and great youth unemployment.

The swap agreement, according to Finance Minister Lan Fo’an, “is a big policy decision taking into account international and domestic advancement environments, the need to maintain the stability of the financial and fiscal operations, and the actual development situation of nearby governments.”

Lan reckons the swap might save roughly 600 billion yuan ( US$ 84 billion ) in interest payments over five years, freeing additional resources to boost investment and consumption. As of the close of 2023, Lan estimates, China’s excellent hidden debt was 14.3 trillion yuan.

Some economists think Friday’s action is enough to revive assurance, as evidenced by a fall in stocks and the renminbi. Most people do n’t believe that this will be the final attempt to alter the story.

As Carlos&nbsp, Casanova, scholar at Union Bancaire Privée, sees it,” the local authorities debt swap program remains inadequate, but extra measures could inspire a recovery in personal investment and a broadening of local consumption”.

Some economists believe that there might still be room for more immediate action to increase home need. What the transfer system may do, though, is get Xi’s Communist Party some time to implement critically needed changes.

Everyone is aware that Team Xi needs to concentrate on strengthening money markets and repairing the property market. Beijing has act more quickly to lessen its hold on power over state-owned enterprises and create more room for startups to stifle the economy. Additionally, authorities had create stronger social safety nets to encourage families to invest more and keep less.

However, despite the desire for these improvements, international investors rarely grant Beijing the patience to carry them out. And efforts to fix, change or adapt China’s economic engines are sure to lower rise significantly. Markets, though, wo n’t hear of it.

Any hint of disappointing island progress causes Chinese stocks to be sold off by international investors. It encourages economists all over to describe the decline in global progress, trade flows, and commodity prices in frequently depressing, market-deflating conditions.

It results in Xi becoming the financial relative of a CEO struggling to produce quarterly earnings. This pattern fosters short-termism, which is one that contributes to Beijing’s gradual progress with China Inc.

Granted, Xi’s group does itself no privileges by continuing to reveal annual development goals. Setting subjective GDP goals year after year distorts incentives and causes policymakers to promote trigger over supply-side retooling.

With this most recent trigger explosion, Xi’s reform team may gain some reluctance from global markets. It’s ambitious enough to convince skeptical people that China is committed to permanently putting an end to recession.

Restoring trust “relies on fiscal and monetary policy help lifting minimum demand”, says Alex Muscatelli, scientist at Fitch Ratings. ” If present trends in the home market are exacerbated, price falls may be entrenched”.

Muscatelli adds that there is a chance of sustained value declines as a result of the “potential exacerbation of recent supply and demand styles coupled with demographic and debts overhang challenges.”

Avoiding that “exacerbation” means pairing monetary and fiscal stimulus with strong revamping moves to increase China’s dynamic activity.

Premier Li Qiang stated in a statement at the China International Import Expo that Beijing has “ample room for fiscal plan and financial policy,” adding that the country will meet the country’s 5 % goal this year. ” The Taiwanese government has the ability to push sustained financial improvement”, Li said.

However Trump’s re-election ups the ante on Beijing. Travel January 2025, when he’s sworn in, Trump will be on the time to hit 60 % levies on Asia’s biggest economy, as he vowed he would on the plan path.

” To mitigate rising US taxes on the market, we believe Beijing had probably scale up governmental stimulus”, says Robin Xing, a planner at Morgan Stanley. Xi may feel compelled to do something about them the more Trump raises trade tensions, according to Xing.

With a Trump success, ING Bank’s main China analyst Lynn Song adds that” the chances for a larger policy assistance package will increase fairly.”

Although China is more prepared to stifle global trade, Eurasia Group’s China practice’s managing director Rick Waters claims Beijing may struggle to stop the collateral damage.

According to Waters,” I believe the challenge is that China is still at a structural disadvantage in a trade war because they lack symmetry.” When the US imposes tariffs on them, they are unable to do so.

Song counters that” the first trade war was a game changer, many companies were caught off guard, and investors were left scrambling. Trump’s proposed tariffs have been in discussion for some time, so they should n’t surprise you much this time around.

Yet the magnitude of the trade tariffs to come could be unprecedented. Take the 100 % tariffs Trump has threatened on Mexican-made cars. How long do Toyota and Hyundai CEOs anticipate that Trump will extend their agreements to South Korea and Japan?

Ian Bremmer, president of the Eurasia Group, says,” the world’s second-largest economy is already underperforming, and Beijing is feeling increasingly defensive about the tariff threats coming from hawks like former Trump trade czar Robert Lighthizer”.

The Chinese, Bremmer adds, “are going to be frantically trying to establish back channels to China-friendly Trump allies like Elon Musk, hoping they can facilitate a less confrontational relationship. Trump’s hawks will gain favors and demand an even more confrontational strategy, or both? Beijing will move cautiously and slowly in this environment”.

Alicia García-Herrero, chief Asia-Pacific economist at Natixis, notes that an “insufficient stimulus package, coming on the heels of Trump’s re-election” would backfire, meaning China “needs to find other sources of growth because trade will not make it”.

Another concern is how these and other Trump levies might conflict with Wells Fargo &amp, Co.’s strategy to lower interest rates, writes Brendan McKenna.

More tariffs could fan inflation, he says, adding that the Fed easing “less aggressively” than currently forecast could “act as a tailwind for the dollar”.

China is hardly recession-bound. Data on exports in October, for example, signaled a healthy acceleration — the biggest upshift in activity since mid-2022. In response to Trump’s tariffs, some analysts wonder if Beijing might devalue the yuan in retaliation.

” Beijing might look to devalue the yuan as they did in 2018-2019 to counter tariff effects and boost export competitiveness”, says Dilin Wu, a research strategist at brokerage Pepperstone.

It’s a difficult balancing act. China, after all, is facing multiple challenges from several angles. And if the yuan falls, the biggest of all might get worse. If the yuan drops significantly, property developers who have sizable offshore debt may find it more difficult to make payments.

China’s obsession with annual growth goals plays a major role in the weaker yuan argument. It’s become a particular distraction since the 2008-2009 Lehman Brothers crisis era.

Since then, China’s growth model has relied heavily on municipal leaders around the nation ordering up huge projects: six-lane highways, monorails, international airports, stadiums, conference and shopping centers, city hall complexes, corporate campus districts, five-star hotels, massive museums.

For local government leaders, making China’s annual numbers has dominated the economic incentive structure. A motivated local powerbroker can consistently turn in above-average GDP rates, which is the quickest way to capture Beijing’s attention.

When Xi rose to power in 2012, he pledged to let market forces play a “decisive” role in economic policymaking. Beijing has worked for the past five years to lessen risk in the financial system and reduce risks for property developers to demonstrate this. However, the GDP goal contradicts that priority.

The problem, argues Thomas Helbling, deputy director of the International Monetary Fund’s Asia-Pacific unit, is that” the economy is very investment heavy”.

The biggest headwinds China’s way is being slowed by the property crisis and falling global demand, according to the IMF. Yet, so is a growth model that encourages unproductive borrowing.

Beijing, Helbling says, must level the playing field for private businesses to compete with state-owned enterprises. To encourage consumption and boost investment in education and technology, it must create a strong social safety net. Pension reforms are also crucial to dealing with China’s aging population.

” If you do those reforms, there is an upside to growth”, Helbling concludes.

Follow William Pesek on X at @WilliamPesek

AvePoint launches AI Lab in Singapore to drive industry-focused innovation

By: Mary Blight

On: November 7, 2024

In: Technology

The AI Lab will generate world Artificial studies with industry-focused R&amp, D
strategies to employ through 25 AI specialists and researchers over the next three years.

The Singapore Economic Development Board ( EDB) supported the release of AvePoint’s AI Lab to advance AI-driven research and innovation in the cutting-edge areas of artificial intelligence and machine learning. The company is the world leader in information management and data management. The AI Lab is said to be addressing global business issues through the development of new research and the integration of AI across the AvePoint Confidence Platform in a speech.

It added that the AI Lab may serve as a main hub for high-impact studies in AI, focusing on spurring industry-relevant R&amp, D with a global reach. Scientists, drawn from both local and international expertise lakes, will have the opportunity to operate with AvePoint’s international teams on employ cases from different countries, ensuring an international exchange of knowledge and insights.

In the next three decades, the test will employ across 25 AI researchers and program specialists to help these initiatives, which will encourage AI innovation both locally and globally. Through a global circular programme at AvePoint’s headquarters, it will allow regional PhD-qualified experts to collaborate with top international researchers. Also, the facility will offer opportunities for collaboration with a system of universities and the company’s global item teams.

” We are excited to start the AvePoint AI Lab, which will be instrumental in advancing AI-driven analysis and addressing market requires”, said Wei Chen, mind of R&amp, D at AvePoint. With this facility, we aim to create effective solutions that benefit global industries while improving our SaaS products.

With its global trade element, the AvePoint AI Lab will produce AI-driven solutions for important industries, including:

FinTech: AI will improve finance operations by combining advanced information formation and fraud detection with Know Your Client solutions to improve financial product recommendations.

The laboratory will also create impressive suggestion systems for profession development and lifelong learning that are relevant to a worldwide audience. These solutions include enhancing collaboration and knowledge management through AI.

Philbert Gomez, senior producer &amp, head of Digital Industry Singapore, said, “EDB is committed to fostering Artificial technology that addresses real-world business issues. We are pleased to back AvePoint’s AI Lab in Singapore, which may improve cutting-edge AI research and help convert these discoveries into useful solutions for worldwide markets. This program is in line with our intention of positioning Singapore as a center for AI ability and development, creating valuable job opportunities, and promoting the development of AI applications that can increase productivity and competitiveness across different sectors worldwide.

The AI Lab’s main objectives are to expand the company’s SaaS merchandise while expanding its existing product lines to meet changing needs in the world market.

Wei Chen continued,” Our focus is always going to be translating these achievements into practical programs for our customers worldwide,” adding that” The Lab enables us to work on a global level, ensuring that the improvements we develop here in Singapore can have an effect on industries around the world.

Mdec, DNB and MyDigital display Malaysia’s innovations at SCEWC BARCELONA 2024

By: Mary Blight

On: November 6, 2024

In: Technology

In September 2025, M’sia will be the first network of the Smart City Expo at SEA.
Show highlights M’sia’s commitment to modern cities &amp, international collaboration

Smart City Expo World Congress (SCEWC 2024) in Fira Barcelona Gran Via, Spain.

The Malaysian Pavilion will be displayed at the Smart City Expo World Congress (SCEWC 2024 ) in Fira Barcelona Gran Via, Spain, along with Digital Nasional Berhad and MyDigital Corporation. The parties stated in a joint statement that this exhibition highlights Malaysia’s unwavering commitment to supporting foreign collaborations and advancing online city initiatives to promote urban development and sustainability.

The Malaysia Pavilion, officiated by Gobind Singh Deo, Malaysia’s Digital secretary, showcases a diverse collection of Malaysian companies leading in modern city options. With 11 organisations presenting their technologies and innovative products and services, attendees may participate directly with Malaysian innovators, explore creative ventures, and practice the transformative possibility of Malaysia’s modern business first.

SCEWC 2024 is a global system combining business leaders, politicians, and inventors, which emphasises Malaysia’s corporate vision to utilize digital technologies for enhancing urban living and improving citizens ‘ online experiences. The Malaysia Pavilion serves as a forum for stimulating conversations on the future of online locations and showcasing the country’s cutting-edge options.

MDEC’s CEO, Anuar Fariz Fadzil, expressed excitement about the Malaysia Pavilion, stating,” We’re showcasing our innovations to encourage engagement, dialogue, and partnerships that may shape the future of online urban living, and learning German best practices in modern city governance. We are also forming strong alliances to increase Malaysian digital exports and investments.

The Ministry of Digital also announced that Malaysia will be the first nation in Southeast Asia to host the Smart City Expo Kuala Lumpur in September 2025, continuing its commitment to Barcelona. Malaysia will lead efforts to bring the region together with the most recent innovations, promoting the creation of more effective and sustainable cities throughout the region, as chair of ASEAN in the upcoming year.

Azman Ismail, the CEO of Digital Nasional Berhad, highlighted the potential of smart city applications powered by 5G to improve urban living. ” Smart city solutions, including autonomous vehicles and advanced public transportation systems, smart lighting integrated with real-time surveillance, real-time traffic management, and intelligent water and waste management, significantly improve the safety, security, comfort, and convenience for urban residents. These applications leverage AI and IoT devices, which depend on high-speed, ultra-low latency connectivity. As Malaysia’s 5G wholesale network provider, DNB is proud to be the backbone of the nation’s digital city transformation”.

Adrian Marcellus, the CEO of MyDigital Corporation, said,” We envision creating cities that are both inclusive and sustainable by using digital technologies to bring about meaningful change for everyone.” Through global collaboration, we aim to address our cities ‘ most urgent challenges—improving quality of life, enhancing resilience, and fostering equitable opportunities for all”.

Together, he said,” We can create urban environments where technology supports sustainable growth and ensures that no one is forgotten,” which shows ASEAN’s commitment to inclusivity and resilience for a better tomorrow.

These initiatives highlight the Ministry of Digital’s ongoing commitment to creating a robust digital economy. By harnessing innovative technologies and encouraging international collaboration, Malaysia aims to set new standards in urban living, drive sustainable growth, and preserve the environment.

Tanjong Katong Complex sale: Former tenants miss mall; entrepreneurs look forward to new dedicated space

By: Marcus Ching

On: October 31, 2024

In: South-East Asia

POTENTIAL SPACE FOR YOUNG BUSINESSES

The Singapore Malay Chamber of Commerce and Industry (SMCCI) said that such a test bed would provide the support that new businesses need.

Entrepreneurs who are just starting out struggle with finding the right mentorship, said SMCCI assistant honorary secretary Syahiran Rohajat.

He noted that startups now often take to social media to peddle their businesses.

“With these plans, they will have the opportunity … to bring their product to retail.. (and) sell it face-to-face,” he added.

Some virtual businesses expressed excitement at the possibility of a space to explore ideas for a short period with little at stake.

“After those three months, we can have a fully cooked business plan, and we can make better decisions when we finally want to mature into a proper space,” said Mr Nabill Shukry, co-founder of online business Cheekies Singapore, which sells marinated chicken.

“Beyond the space and beyond the resources, mentorship, to me, is the most important, because mentorship will allow us to not make the same mistakes (as the mentors), ” he added.

Khazanah launches Jelawang Capital as national fund-of-funds to accelerate Malaysia’s venture capital ecosystem

By: Mary Blight

On: October 29, 2024

In: Technology

Empower & grow startup ecosystem as part of Khazanah’s Dana Impak effort
Drive Emerging Fund Managers’ Program & Regional Managers’ Initiative

Khazanah launches Jelawang Capital as national fund-of-funds to accelerate Malaysia’s venture capital ecosystem

Khazanah Nasional Bhd today launched its RM1 billion national fund-of-funds, Jelawang Capital Sdn Bhd, with Bryan Lim as its CEO, following the consolidation of Malaysia Venture Capital Management and Penjana Kapital in July and pursuant to the announcement of Prime Minister Anwar Ibrahim’s third MADANI Budget 2025 speech.

Amirul Feisal Wan Zahir, Khazanah Managing Director, said, “Jelawang Capital signifies our commitment to the growth of Malaysia’s venture capital (VC) ecosystem. Through this catalytic initiative, Jelawang Capital will continue to grow Malaysian fund managers while attracting regional fund managers with expertise and capital.”

He noted that while the VC industry is an important source of innovation, economic growth and job creation for the nation, based on research by Startup Genome, only 1.5% of startups in the best US VC hubs enjoy meaningful financial returns on their investment i.e. a successful exit of US$50 million or more, illustrating the high inherent risk and challenges associated with this asset class.

“As such, nothing short of an all-of-nation approach will be needed for us to increase the odds of success. While capital is a key building block to a vibrant VC ecosystem, other critical success factors include the ease of doing business, availability of talent, and deepening of technology and know-how. As innovation is borderless, it is this combination of capital, effective regulation, talent and technology that will determine the future of Malaysia,” Amirul stressed.

The tallest waterfall in Kelantan, Malaysia is also said to be one of the tallest, if not the tallest in Southeast Asia as well.

Khazanah launches Jelawang Capital as national fund-of-funds to accelerate Malaysia’s venture capital ecosystem Bryan (pic), who is also Khazanah’s Head of Dana Impak, said, “Jelawang Capital is named after the tallest waterfall in Malaysia (pic). Our vision for the local VC ecosystem begins with the provision of capital to fund managers. In turn, we envision this capital and expertise of the managers to cascade to high-potential startups. Like a waterfall flowing into rivers that nourishes the local flora and fauna, we hope these high-potential investments will enrich the wider VC “rainforest” (ecosystem) with innovation and quality jobs. As with any healthy forest, success will depend not just on the availability of water (capital), but also on the abundance of sunlight and nutrients. In shoring up this ecosystem, we look forward to working with like-minded partners and investors.”

Other senior executives at Jelawang Capital are Looi Wen Jie and Syed Husain Albar who serve as co-head of Investments; Radin Faizal Baidrul Ikram, Head of Transformation, and Nurlisa Hussin, Head of Strategic Relationship Management & Special Projects.

To accelerate the growth of Malaysia’s venture capital ecosystem, Jelawang Capital will spearhead two initiatives:

The Emerging Fund Managers’ Program (EMP):

The EMP aims to nurture promising Malaysian VC fund managers to raise their first, second or third fund.

Open to Malaysian General Partners based in Malaysia or abroad, the EMP seeks to support Malaysian fund managers to establish their track record and increase their competitiveness in the VC ecosystem.

Jelawang Capital will act as an anchor for Malaysian GPs to gain traction and crowd-in further capital from other local or international investors. Aside from capital support, the EMP aspires to support GPs to develop crucial areas such as fund management, investment operations and talent management. In turn, this is expected to gradually institutionalise and improve the capabilities of GPs.

Interested applicants can learn more about the qualifying criteria and download the application forms at www.jelawangcapital.com. The EMP is open for proposals until 31 Dec and completed applications are to be submitted to [email protected]. Further opportunities to participate in EMP will be available in the second half of 2025.

The Regional Managers’ Initiative (RMI):

RMI aims to elevate Malaysia’s startup ecosystem through strategic partnerships with regional VC firms.

The RMI represents Jelawang Capital’s effort to attract international fund managers who are committed to enrich the ecosystem. This includes supporting the growth of Malaysian startups to be regional and global players, as well as facilitating the redomiciling of global companies in Malaysia to expand local job capabilities, attract talent and deepen innovation. In addition, Jelawang Capital welcomes established venture generators to unearth new entrepreneurs and support the growth of existing ones in Malaysia.

Regional managers aligned with these strategic objectives are invited to submit their proposals to [email protected].

Both the EMP and RMI initiatives will enable the fusion of local and international expertise, perspectives and knowledge to spur a vibrant ecosystem that fuels progress that Advances Malaysia.

As the national fund-of-funds, Jelawang Capital forms part of Dana Impak, a key pillar of Khazanah’s Advancing Malaysia strategy anchored by ‘A Nation that Creates’ framework which aims to boost national productivity and competitiveness. Dana Impak initiatives aim to empower Malaysian business of all sizes and across different life cycles, including startups, small to mid-tier as well as large companies, with the objective of improving livelihood of communities.

Budget 2025: MBAN applauds measures, asks for matching grant to further amplify early-stage funding

By: Mary Blight

On: October 29, 2024

In: Technology

Announced measures will strengthen Malaysia’s Startup Ecosystem
Matching grant will spur more participation, increase investment pool

Budget 2025: MBAN applauds measures, asks for matching grant to further amplify early-stage funding The Malaysian Business Angel Network (MBAN) welcomed the recent Budget 2025 announcement, especially the establishment of a US$229 million (RM1 billion) National Fund-of-Funds allocation under Khazanah, alongside US$14.9 million (RM65 million) for Cradle Fund, describing this “as a pivotal step in empowering startups to expand both regionally and globally.”

Pointing to a recent 500 Global survey that Malaysia has over 30 “A1” grade startups, each generating more than RM5 million in annual revenue with over 20% growth, MBAN highlighted that access to funding remains a critical challenge with studies showing that inadequate financing is among the top three reasons for startup failures.

[RM1 = US$0.229]

It also applauded the new matching investment fund exceeding RM100 million that will be introduced through an equity crowdfunding (ECF) platform to support the growth of local suppliers in the electrical and electronics (E&E) sector, as well as in specialty chemicals and medical devices.

“This initiative aims to provide significant advantages to different areas within the startup ecosystem,” it said. Budget 2025 also allocated RM25 million for creative social entrepreneurs, further strengthening the support for a wide range of entrepreneurial initiatives.

Reinforcing its commitment to nurturing early-stage startups, and acknowledging the support these measures will provide, MBAN nonetheless believes that introducing a matching grant would further amplify early-stage funding.

“This initiative would provide matching capital to angel investors, encouraging more participation and increasing the overall investment pool for startups. We hope the government will consider this proposal, as it could further enhance our ecosystem and support early-stage businesses in their growth journey,” the angel network said.

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