Cradle, Invest India form alliance to strengthen startup ecosystems in both nations 

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  • Partnership aims to boost tech startup collaboration in both nations
  • Matchmaking programmes aim to generate US$23 mill in investments, contracts 

The exchange ceremony was represented by Norman Matthieu Vanhaecke, Group CEO of Cradle (2nd from left),, and Shri Sanjiv, joint secretary, Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India (2nd from right) , witnessed by Tengku Zafrul Tengku Abdul Aziz, Malaysia’s minister of Investment, Trade and Industry (middle)

Cradle Fund Sdn. Bhd. (Cradle), the focal point agency for Malaysia’s startup ecosystem, and Invest India, an investment promotion and facilitation agency under the Government of India, have exchanged a Letter of Cooperation (LOC) to establish the India-Malaysia Startup Alliance (IMSA) through Startup India. This strategic partnership aims to foster greater engagement and collaboration among technology-based startups in both nations.

Startup India, a flagship initiative of Invest India, intends to catalyse startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India. The initiative, established under the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India, plays a crucial role in facilitating foreign investment into its country and promoting its economic growth.

Commenting on the LOC between the two agencies, Chang Lih Kang, minister of Science, Technology, and Innovation (MOSTI), said, “India and Malaysia have benefitted from the long-standing relationship built on mutual respect and shared prosperity. This alliance between Cradle and Invest India is a natural extension of our strong economic and commercial ties.

“As Malaysia ranks among India’s top trading partners, this partnership will encourage local startups to venture into India’s 1.4 billion-strong market and will also provide pathways for quality Indian startups to penetrate the ASEAN market through Malaysia. This is aligned with the Malaysia Startup Ecosystem Roadmap (SUPER) 2021-2030, and its aspiration to place Malaysia among the top 20 global startup ecosystems by 2030,” he added.

Norman Matthieu Vanhaecke, Group CEO of Cradle, emphasised that, “This alliance between Cradle and Invest India, a first for both countries, not only strengthens our mutual commitment but also fosters a closer, more impactful, and sustainable cross-border tech entrepreneurial synergy, driving transformative growth in India and Malaysia’s startup ecosystem,” he said.

The LOC exchange ceremony was held in New Delhi on 21 August 2024, in conjunction with Malaysia’s official visit to India, led by Prime Minister Anwar Ibrahim. This alliance is envisioned as the primary bilateral framework for startup and innovation engagement between the two countries.

The exchange ceremony was represented by Norman of Cradle and Shri Sanjiv, joint secretary, Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India, witnessed by Tengku Zafrul Tengku Abdul Aziz, Malaysia’s minister of Investment, Trade, and Industry (MITI).

Over the next year, IMSA will focus on enhancing mutual awareness of the development of startup ecosystems in Malaysia and India, emphasising government interventions, industry collaboration, and university engagement.

Key initiatives under IMSA will include virtual capacity-building sessions, knowledge-sharing events, and the facilitation of startup matchmaking programmes. These efforts will culminate in the participation of Malaysian and Indian delegations, as well as other startup ecosystem players, at major events such as the Startup Mahakumbh 2025 and the ASEAN-India Startup Festival 2025, to be held in Kuala Lumpur as part of the country’s ASEAN Chairmanship.

The matchmaking programmes are targeted to catalyse investment and commercial contract value close to US$23 million (RM100 million) from potential venture capitalists and corporates between ASEAN and India. Additionally, these programmes will connect startups with relevant stakeholders to explore opportunities for market expansion, research and development, and deeper industry collaboration.

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EDB commits additional US.5 million funding, facilitates partnerships with startups

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  • EDB has so far helped 24 firms build 14 projects, with more to travel
  • To work with 9 companies to reduce collaborations between S’pore companies &amp, business

EDB commits additional US$24.5 million funding, facilitates partnerships with startups

The Singapore Economic Development Board ( EDB) is committing US$ 24.5 million ( RM106 million ) in fresh funds over the next two years to continue driving corporate venturing in Singapore. The organization stated in a statement that the third edition of the Corporate Venture Launchpad ( CVL 3.0) also aims to facilitate the formation of partnerships with startups.

It added that, along with nine appointed CVL 3.0 lovers, EDB’s New Ventures team will work with selected firms to develop in new development areas. The partners will assist businesses in launching new businesses and establishing tools for successful corporate-startup cooperation.

The first edition of CVL was launched in May 2021 with US$ 7.6 million ( RM32.8 million ) in pilot funding. EDB expanded the program in July 2022 to include more businesses and committed additional funding of US$ 15 million ( RM 66 million ). Since the start of CVL, EDB has supported 24 firms in launching 14 new projects, with more projects in the pipeline.

]1 MYR = 0.231206 USD]

These endeavors are headquartered in Singapore, specific local markets, and make exciting career opportunities there. They have also received over US$ 53.7 million in follow-on revenue from existing and new owners. At least ten of these businesses are creating several businesses, with some establishing independent projects. Six of the new businesses are focusing on opportunities in development fields like AI and ecology.

EDB commits additional US$24.5 million funding, facilitates partnerships with startupsJacqueline Poh ( pic ), managing director of EDB, said:” The CVL programme has been a catalyst for companies to innovate for growth by leveraging Singapore’s world-class business ecosystem. The program confirms EDB’s dedication to working with businesses to create new ventures and foster mutually beneficial partnerships between corporations and companies.

Expanded program to assist corporate-startup partnerships

The expanded CVL 3.0 program may offer support for corporate-startup partnerships, providing an extra pathway for companies to get innovative products, services, and technology.

Instead of launching their own business, the businesses will collaborate with Open Innovation Partners to join with existing, top-notch startups and work together to achieve tangible business benefits. Such benefits include co-developing materials in Singapore to generate new revenue streams or adopting techniques that increase production and lower prices.

In order to boost the local innovative habitat, it added that companies will have more opportunities to grow by tapping into actual business need in Singapore.

Siemens ‘ collaboration with Artisan Green serves as an example of how corporate-startup partnerships can promote creativity and growth. Isabel Chong, senior vice president and head of Siemens Digital Industries in ASEAN, said:” Partnering with businesses is part of our long-term development plan at Siemens. For instance, our collaboration with the local horticultural farm Artisan Green makes use of our technology and digitalization tools to boost its output and scale operations. It exemplifies the interaction between Artisan Green’s strategy to industrial farming and our shared commitment to the production of high-quality, locally grown produce.

She added that she is pleased that EDB’s Business Venture Launchpad program is dedicating aid to nurturing corporate-startup collaboration and driving greater industry-wide engagement.

Ongoing focus on strengthening long-term opportunity creation capabilities

By establishing new businesses with a siège in Singapore, CVL 3.0 will continue to assist businesses in diversifying business prospects. In partnership with Venture Studio Partners, participating businesses will learn how to evaluate concepts within six-month sprints, as well as create sustained, long-term walk design capabilities.

After participating in CVL, world specialist engineering firm IMI plc established its in-house venturing division, IMI Venture Studio, to further produce green energy ventures. Marco Placidi, brain of Venture Studio at IMI corporation, said:” CVL has been a key element in IMI’s decision to build its enterprise studio in Singapore. EDB has created a strong ecosystem of business partners and corporations, which is enabling IMI to launch a number of ventures geared toward decarbonization and sustainability in the energy and commercial sectors.

He added that EDB’s expert help throughout the opportunity jumps and beyond has been crucial in establishing effective projects and attracting experienced, entrepreneurial ability. Through walk capital, IMI sees a lot of potential for new business expansion and technological advancement in the future, Placidi said.

Venture Studios and Open Innovation Partners make up the nine CVL lovers. They will offer tailored support based on the expertise level of each company, bringing their special capability-building products, procedures, skills, and assets.

Another aid characteristics of CVL 3.0 include:

  • EDB funding each idea validation sprint and business partnership initiative with up to 50 % of professional services and labor costs.
  • Find businesses will also be able to launch and level pilot projects that they co-developed with their startup partners and receive additional funding.
  • Where appropriate, EDB will build its enterprise builders and expert support to be part of the concept validation sprints and business partnership initiatives, both,
  • Potential access to a network of relevant VCs and family offices, as well as regional and global ecosystem connections, including investment opportunities from EDBI.

Companies can now submit applications to take part in CVL 3.0. Click here for more details.

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Digital News Asia

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  • Tourplus CEO embodies leader hurry, with keen gaze for chance
  • Owners have the highest duty, may convey optimism &amp, hope

The partnership with Tourism Selangor will earn Rickson Goh revenue, expand his supply of products and give him market inroad.

Some Malaysian startup founders have acquitted themselves as well as Rickson Goh, the gentle said founder of travel tech company Tourplus Technology Sdn Bhd, if you want to see how well they have handled the Covid-19 pandemic.

In the midst of a terrible halt in Malaysia’s tourism industry, he never merely raised eyebrows in the ecosystem with a powerful US$ 1 million seed capital fund raise, but he also went on to form some partnerships that will place his travel tech startup quite well when the tourism rebound occurs. Plus, he has also started talking to buyers on raising his second large as he projects profits for 2021 to reach US$ 1.65 million ( RM7 million )– almost none of it coming from vacation.

But what exactly is he smoking and what exactly is he spitting in his te sir? Turns out it is nothing more than leader rush and a strong desire for success. &nbsp,

Cuts win-win cope with Tourism Selangor

Tourplus, which had no mobile application before this, announced in a simple press release that it had worked with Tourism Selangor to create a wireless application for the state agency.

The true story is that Tourplus and Tourism Selangor have a 50:50 revenue share contract under the name Get Selangor for any income made through the game. Better yet, the state agency will start promoting Tourplus to those interested in the state agency’s database by encouraging all manufacturers of travel-related products to start digitizing their operations ( though this is not an exclusive agreement ).

As Rickson points out, the majority of these vacation players are small businesses, which would have been nearly impossible for Tourplus to enter. Instead, then it gets a reputable position company to make the introduction.

” We expect the game does go sit in Oct 2021″, says Rickson. Tourplus did examine business arrangements and installation in the app, operate and make the payout, etc., he states.

As Selangor intensifies efforts to prepare the journey ecosystem for the post-pandemic go rebound, Go Selangor may serve as the state government’s official travel app.

A crucial part of the efforts to find habitat players, most of whom are SMEs, available, is to encourage them to digitalise so that their vacation packages, services and inventory may be added to Get Selangor.

Rickson, who first proposed the idea in March and was given approval by the Selangor Information Technology and Digital Economy Corp. in July, believes that this partnership will benefit more rural operators or “hidden gem providers” that are not in the main stream platforms like Klook.

It is also a sweet deal for Rickson, who is preparing himself for the post-pandemic rebound by adding new inventory to his database. The latest of his recent cutbacks to his fundraising efforts in October, 2017.

Rickson Goh shows how you deal with a pandemicHis back was against the wall by that point, so the timing could n’t have been better. It was not an easy time, he admits. There was little to no money being made, and the statement” We were running out of money then” was true.

Even Rickson ( pic ) struggled to see any light, and the team had lost hope. It was very difficult for me. Day and night, I was trying to figure out a way to survive. We founders have the highest responsibility. No matter how we feel inside, and sometimes I felt helpless, but we have to exude hope and optimism for the team”, he says.

A quick foray into providing frozen food to consumers was unsuccessful. The key moment, however, came when he made the decision to forgo any international travel for at least for 24 months. A startup that had built its future off of inbound travel to Malaysia made a chilling realization.

Hanging out in Parliament, getting TSP status, convincing investors

Rickson swung into action. In the early stages of the pandemic lockdowns, webinars rose in popularity, and Rickson started taking classes there to learn from other business owners. He also became aware of the benefits of local players going digital and learned about the various government initiatives that are being implemented to help businesses. This would serve as Rickson’s lifeline as domestic tourism was awaiting a return to life.

” I was able to persuade my investors that domestic tourism was the best course of action and that the various government Covid aid recovery programs offered short-term opportunities.”

One of his biggest advantages was the stable government relations he established over a short period of time. He claims that it was not from funding any projects but rather from supporting the government in digitizing brick and mortar businesses, particularly those in the travel industry. He had to travel to the Malaysian Parliament to meet with relevant ministers in order to make his pitch, which helped Tourplus become recognized as a TSP ( Technology Service Provider ).

With this recognition Tourplus was able to assist businesses in requesting the Digital Marketing Grant, which is a component of the Malaysian Government’s efforts to assist businesses in recovering from the effects of the pandemic. They were qualified for up to a RM5,000 grant, and we have already received 200 companies ‘ approval from an overall 800 applications for the grant.

This work not only keeps his 20-strong team ( 30 % are part-time ) busy but has helped with cash flow as well.

Rickson Goh

Key collaborations in China, instant access to 200k hotel rooms globally

One important collaboration between Rickson and the Chinese travel agency ChongQing China Youth Travel Service started in April of this year.

Even though we raised money, traveling is still our main business, according to Rickson, adding that income and cash flow must be closely monitored.

” We need to keep innovating as well and I need to hire tech people, UI/UX designers, product people which will also help us scale”.

Another exciting development, one that he has kept under wraps is a partnership he has struck with China’s largest OTA ( Online Travel Agency ), the Nasdaq listed Ctrip. Users of the Tourplus app can now now directly book 200, 000 hotel rooms from all over the world where Ctrip has hotel partners thanks to an API integration.

” It is a very exclusive priviledge to be given the trust of API integration with a business like Ctrip,” Rickson asserts. That likely cuts both ways because Ctrip, which was founded in 1999, likely sees a little of itself in the ferocious startup from Kuala Lumpur and its gritty founder.

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AWS launches Infrastructure Region in Malaysia with US.2bil investment through to 2037

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  • higher funding than the US$ 5 billion that was first announced in 2023
  • Put about US$ 12.1 bil to GDP, help 3.5k work at physical companies yearly

Seen as a significant step towards fulfilling the vision of Malaysia’s New Industrial Master Plan 2030 to build a highly skilled, innovative, prosperous, inclusive, and sustainable economy.

It’s making a bigger devotion to Malaysia. Amazon Web services ( AWS ) an Amazon.com, Inc.company first announced the launch of its AWS Asia Pacific ( Malaysia ) Region in March 2023 and estimated the investment to be US$ 5.82 billion ( RM25.5 billion ) through to 2037.

Today however it announced that AWS is planning to invest an estimated US$ 6.2 billion ( RM29.2 billion ) in Malaysia through 2038.

AWS launches Infrastructure Region in Malaysia with US$6.2bil investment through to 2037The new AWS Region in Malaysia, led by Prasad Kalyanaraman ( pic ), vice president of infrastructure services at AWS, enables organizations across Asia Pacific to fully exploit the potential of the world’s most extensive and reliable cloud, assisting customers in deploying advanced applications with a wide set of AWS technologies like AI and ML. With today’s release, AWS is happy to support Malaysia’s modern transformation and help promote its function as a local hub for AI”.

AWS Regions are made up of Availability Zones, which place facilities in specific and unique geographic locations. Three Availability Zones are located far enough away from each other to support customers ‘ business continuity, but close enough to offer low overhead for large availability applications that use various Availability Zones.

DNA is ensure that two of its three information centers are in Johor and Cyberjaya, both of which are in the Klang Valley.

According to AWS, starting now, engineers, startups, entrepreneurs, and organizations, as well as state, knowledge, and nonprofit businesses, will have greater choice for running their applications and serving end users from AWS information centers located in Malaysia.

It already has a number of leading level firms as its customers including Bursa Malaysia, CelcomDigi, GX Bank Bhd, PayNet, Petroliam Nasional Bhd and Tenaga Nasional Bhd. The Department of Broadcasting Malaysia is one of the many government agencies that use it.

Amazon has adopted the same model with its AWS Partner Network ( APN), which consists of tens of thousands of independent software vendors ( ISVs ) and systems integrators ( SIs ) around the world, in the same way that enterprise tech vendors like IBM, Microsoft, HP, and Cisco use partners in overseas markets to boost sales. Now two Indonesian companies, Aerodyne and Tapway, are part of the APN.

AWS said that the construction and operation of the new AWS Region is anticipated to contribute approximately US$ 2.1 billion ( RM57.3 billion ) to Malaysia’s gross domestic product ( GDP ) and will support an average of more than 3,500 full-time equivalent jobs at external businesses annually through 2038. The company shared data from an economic impact study it commissioned.

These jobs, including construction, service maintenance, architecture, telecommunications, and others within the government’s broader economy, may be part of the AWS offer network in Malaysia.

Tengku Zafrul, Minister of Investment Trade & Industry ( MITI), stated,” The launch of an AWS infrastructure region in Malaysia increases our country’s capabilities for digital innovation.

” This step is a major step towards fulfilling the perspective of Malaysia’s New Industrial Master Plan 2030 to create a highly skilled, modern, successful, equitable, and sustainable economy. We think that the transformational potential of AI, cloud computing, and digitalization are key factors in Malaysia’s effort to become an Asian hub for manufacturing and services. The AWS infrastructure Region will help ensure Malaysia stays competitive on the global stage as the largest investment made by an international technology company in Malaysia, according to Zafrul. &nbsp,

AWS Malaysia claims to have trained over 100 000 people in Malaysia in cloud skills since its direct presence in Malaysia in 2017. Through AWS Skills to Jobs Tech Alliance and AWS Training &amp, Certification programs like AWS Academy, AWS continues to invest in educating developers, students, and the next generation of Malaysian IT leaders in cloud skills.

With the launch of the AWS Asia Pacific ( Malaysia ) Region, AWS has 108 Availability Zones across 34 geographic regions, with announced plans to launch 18 more Availability Zones and six more AWS Regions in Mexico, New Zealand, the Kingdom of Saudi Arabia, Taiwan, Thailand, and the AWS European Sovereign Cloud.

Each Availability Zone has independent power, cooling, and physical security, and is connected through redundant, ultra-low-latency networks. Customers who want to have high availability on Amazon can design their applications to run in several Availability Zones to achieve even greater fault tolerance.

AWS offers the broadest and deepest portfolio of services, including analytics, compute, database, IoT, generative AI, ML, mobile services, storage, and other cloud technologies. Customers from startups and businesses to public sector organizations and nonprofits will be able to use cutting-edge technologies from the world’s leading cloud provider to spur innovation, satisfy data residency requirements, achieve lower latency, and satisfy the growing demand for cloud services in Malaysia and throughout Asia Pacific.

The new crop of AI-built data centers ‘ fervent appetite for power has also increased the demand for power in Malaysia. With the launch of the Corporate Renewable Energy Supply Scheme ( CRESS) in September, the Malaysian government is allowing third parties to access the country’s electricity grid in response to the high demand. The emphasis is on the supply of green electricity.

Once introduced, buyers can negotiate directly with any renewable energy power plant for green supply, said the Ministry of Energy Transition and Water Transformation.

Since 2020, Amazon has become the largest corporate buyer of renewable energy in the world.

At the same time, it is working on ways to increase the energy efficiency of its data centers —optimizing data center design, investing in purpose-built chips, and innovating with new cooling technologies. According to a new report from Accenture, which was commissioned by AWS, AWS’s infrastructure is up to 4.1 times more efficient than on-premises, and when workloads are optimized on AWS, the associated carbon footprint can be reduced by up to 99 %.

Additionally, AWS is committed to being water positive by 2030, returning more water to communities than it uses in its direct operations.

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Graffiquo Asia introduces innovative solution for oil & gas Industry

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  • Acquired support from key governmental organizations, habitat people
  • Options enable workers to handle data smoothly, make real-time decisions

Graffiquo Asia introduces innovative solution for oil & gas Industry

A new item from Graffiquo Asia Sdn Bhd, a provider of cutting-edge geographic technology solutions, has been released that will change procedures in the oil and gas industry. In a statement, the company announced that” GIX for Oil &amp, Gas Field Workers” attempts to optimize information record, asset management, and reporting procedures, offering prospective improvements in efficiency and safety for industry participants.

It added that GIX integrates functions such as raster, data-driven maps, and smart forms, empowering area workers to handle data easily and make more informed decisions in real-time.

Important political organizations and ecosystem participants have supported Graffiquo’s development efforts, according to Graffiquo. The company first received a commercialism give under the CIP300 system from Cradle Fund, which is under the Ministry of Finance, for their principal platform, Graffiquo. &nbsp,

Following this, it was supported by the Malaysian Technology Development Corporation’s Collaborative Research and Development Fund Grant to expand its commercialization activities and tools under the Ministry of Science, Technology, and Innovation. The Malaysian Petroleum Resource Corporation provided additional support through the OGSE Development Grant, especially for the creation of their subsidiary mobile app, GIX, under the Ministry of Economy.

Graffiquo Asia is a participant in the government’s MRANTI MYSTI program, which aims to promote local R&amp, D products and services for domestic and international markets. Also, the company is involved in the Petronas FutureTech 2.0 project, which aims to nurture tech startups and generate digital change within the oil and gas industry.

The Organi are represented by Graffiquo.Graffiquo Asia introduces innovative solution for oil & gas Industrysation for Sustainable Development Goal 11 and the United Nations ‘ Centre of Excellence for United for Smart Sustainable Cities program. Through its 3D visualisation platform, Graffiquo’s global commitment to smart and sustainable urban development is highlighted in this partnership.

Graffiquo Asia’s founder, George Tang ( pic ), thanked the support that was given, stressing the value of such support and recognition in driving innovation. He stated,” GIX represents a significant step forward in improving efficiency, safety, and decision-making processes for oil and gas companies”.

Graffiquo Asia is exploring partnerships with Malaysian ministries to advance the realization of Digital Malaysia Cities, besides its oil and gas sector focus. Committed to sustainability and smart urban development, the company aims to support the government’s vision for a digitally integrated nation.

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eCloudvalley appoints Sandy Woo as Malaysia country director to accelerate business growth

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  • Past led the Malay industry for Veritas Technologies
  • Appointment highlights the agency’s commitment to expand cloud adoption

eCloudvalley appoints Sandy Woo as Malaysia country director to accelerate business growth

eCloudvalley Digital Technology, a fast-growing cloud solutions provider and premier Amazon Web Services partner, has announced the appointment of Sandy Woo ( pic ) as Country Director for its Malaysia operations. This strategic shift demonstrates the firm’s commitment to accelerating the adoption of cloud technology and modern transformation in Malay businesses.

Woo, a pioneer with over twenty years of experience in the tech sector, will spearhead eCloudvalley’s effort to simplify cloud systems and make innovative solutions more available to businesses from various industries. Her appointment comes at a critical moment for Malaysia’s ongoing efforts to develop its electric economy blueprint, which aims to make it a high-income, online driven nation.

” This is a fantastic time to work for eCloudvalley, working alongside a team of skilled cloud professionals who are serving an expanding client base. Malaysia is being prepared for accelerated sky adoption and innovation, according to Woo, pointing to Amazon Web Services ‘ plans to launch a new AWS Region around.

She continued,” We are driven to assist and enable firms to fully understand the transformative potential of the sky and advanced systems like generative AI, system teaching, big data, IoT, and more. We have a focused plan and proven skills.

Due to eCloudvalley, Woo led the Malay industry for Veritas Technologies, playing a key role in expanding the company’s business footprint while embodying her aggressive nature to create data-driven results. Woo also held leadership roles with renowned technology companies, including Cisco Systems, CA Technologies, and NTT ( Dimension Data ).

” Our victory at eCloudvalley is measured by our ability to provide advanced, custom sky solutions that create real business value for our clients.” Woo’s visit shows our responsibility to creating a skilled workforce capable of meeting the requirements of Malaysia’s changing market, according to Regional Director Jonathan Que.

She makes the ideal leader for our Indonesian operations because of her thorough understanding of consumer business needs and her knowledge of changing industry trends. Woo is the right prospect not only to push eCloudvalley’s second phase of growth, but also to support our clients innovate, size, and obtain their business targets”, he added.

In Malaysia in 2020, eCloudvalley established its presence during a time of significant disruption, and it has since grown to include a total of 60 cloud professionals. The company has played a pivotal role in helping numerous enterprises, startups, and SMBs navigate the evolving business landscape.

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Successful conclusion of Endeavor’s Future Forum 2.0 – A game changer for Malaysia’s startup ecosystem 

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  • Over 3000 business rulers, investors &amp, businesses attended the conference
  • Participants gained insights into M’sia’s business habitat through key discussions

Peter Murray, Head of Financial Services Industry, ASEAN. AWS, Normal Vanhaecke, Group CEO, Cradle Fund Sdn Bhd, Adlin Yusman, Managing Director, Endeavor Malaysia, Jesse Chooi, Scaleup Development, MDEC and Hassan Alsagoff, Regional Head of Loyalty & Marketing ,Grab Malaysia

With Cradle Fund, through the MYStartup initiative, as its patron, along with support from Grab Malaysia, GXBank, Amazon Web Services ( AWS), and Malaysia Digital Economy Corporation ( MDEC ), Endeavor’s Future Forum 2.0 successfully concluded on Tuesday, 13th August 2024, at the Asia School of Business. The occasion maintained a strong participation, with over 300 business leaders, companies, and traders in attendance, matching next week’s numbers.

This consistency, according to Endeavor, demonstrates that the success of the Future Forum last year was not just a case of luck; it was a result of the organization’s continued commitment to bringing in top speakers who have a strong impact on the entrepreneurial community.

This year’s Future Forum 2.0 featured a lineup of speakers, including Endeavor Emeritus Board Member Nazir Razak ( chairman of Ikhlas Capital ), Endeavor Mentors such as Joel Neoh ( co-founder of First Move &amp, Fave ) and Tunku Alizakri Alias ( Former chairman of Penjana Kapital ), Endeavor Entrepreneurs including Aaron Patel ( founder of iHandal ) and Kian Seah ( founder of HHI), as well as Endeavor Pre-ISP candidates such as Nicholas Pinn Yang Lim ( co-founder of Good Foodie Media ), Nadira Yusoff ( co-founder of Kiddocare ), Nurul Syaheedah Jes Izman ( co-founder of Pantas ), and Mark Koh ( co-founder of SUPA ).

The list of speakers continued with Norman Vanhaecke ( group CEO of Cradle ), Fadrizul Hasani ( CTO of GXBank ), Karamjit Singh ( founder of Digital News Asia ), Peter Yong ( founder of Mr. Money TV ), Koichi Saito ( founder of KK Fund ), Sophie Chiu ( principal at AppWorks ), Warren Leow ( CEO of Pixlr Group ), Gerardo Salandra ( CEO of Respond. io ), Rene Menezes ( executive director of Remix Solutions ), Roshan Kanesan ( producer &amp, presenter at BFM), and Fahim Surani ( Solution or Systems architect at Amazon Web Services ).

The attendees, according to Endeavor, gained valuable insights into Malaysia’s business ecosystem, from understanding the Gen AI rebellion to understanding the key factors that entice foreign investors to the local landscape. Additionally, they discussed ways to incorporate ESG into firm plan and learn about the brand-new era of marketing and branding. Importantly, the event’s Legitimate Clinic, in partnership with Zaid Ibrahim &amp, Co ( in association with KPMG Law ), provided personalised legal counsel to companies, reinforcing the agency’s commitment to empowering local companies.

The consistently high attendance for Future Forum 2.0, according to Adlin Yusman, managing director of Endeavor Malaysia, confirms that our technique to developing relevant topics and engaging speakers resonates with the business community. It’s not just about a one-time victory, it’s about continually delivering value and fostering an environment where creativity flourishes”.

He continued,” The company is thrilled by this week’s success and looks forward to returning in 2025 with an even more remarkable Future Forum 3.0.” As Endeavor looks forward, we will continue to support high-impact business owners and foster a vibrant company habitat. The success of Coming Forum 2.0 shows how well on track this goal is, Adlin said.

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AUKUS AI drones shadowed by China’s tech supremacy – Asia Times

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Cutting-edge AI-enabled AUKUS drone tests show the group’s push for technologically superior military power, but business restraints and Chinese marketplace dominance could stymie its readiness for upcoming conflicts.

The UK’s Defense Science and Technology Laboratory ( DSTL ) reported this month that Australia, the UK, and the US have successfully tested AI-enabled uncrewed aerial vehicles ( UAVs ) that enable human operators to identify and neutralize ground targets.

The trial, which is a component of the AUKUS Resilient and Autonomous Artificial Intelligence Technologies (RAAIT ) series, is reportedly the first real-time military use of autonomous and AI sensing systems, according to DSTL.

The source says that the practice, conducted during the annual US-hosted Project Convergence, showcased creative AI and freedom, substantially reducing target identifying time and minimizing risk to personnel.

Additionally, it mentions that the training demonstrated improved interoperability and access to advanced AI among the AUKUS countries, as well as the potential for protecting defense goods from digital war and GPS problems.

According to DSTL, Commodore Rachel Singleton, head of the AUKUS Defence Artificial Intelligence Center ( DAIC ), stressed the value of interoperable systems developed across the three countries.

According to the cause, the technology, which has been fast developing since its first British test in April 2023, aims to give the military an operational edge against evolving threats.

These creative work may be part of AUKUS Pillar II, which focuses on advanced military features such as computer capabilities, AI and freedom, classical technologies, undersea capabilities, hypersonics and counter-hypersonics, and digital war capabilities.

Small robots have proved to be devastating weapons in the continuing conflict in Ukraine, but AUKUS has probably been slow to adopt them as the core of the tech-driven empire.

The group faces major difficulties in implementing small drones due to high production costs, fierce opposition from Chinese manufacturers, reliance on Chinese components, and source competition from different projects.

Defense One pointed out this month that Ukraine’s powerful annual production of one million first-person-view drones could result in a potential shortfall in the US Army’s small drone production for defense purposes.

Defense One points out that private companies like Skydio and Teal struggle to match demand because of China’s market hegemony and higher generation costs, despite the US Army’s increasing inclusion of drones, inspired by Russian battle successes.

According to the Defense One report, the US Department of Defense’s ( DOD ) slow purchasing and limited assistance create barriers for startups in the drone market. Additionally, it raises questions about the higher price and lower performance of US drones compared to Chinese ones.

However, Breaking Defense reported this month that the US had chosen some systems for Tranche 2 of its Replicator program, which was intended to field large numbers of disposable drones. Previously, the US included the Switchblade kamikaze drone in the program.

Underscoring Australia’s dependence on China for drone capability, Defense Post reported in August 2023 that the Australian government is using 3, 000 Chinese-made drones with components such as cameras, gimbals and batteries blacklisted by the US for their alleged links to China’s People’s Liberation Army ( PLA ).

Due to the absence of a sovereign drone manufacturing base, Australia is more prone to supply chain disruptions, according to Defense Post. Although it claims that Australia has a mature drone ecosystem, it only uses it commercially.

Despite those difficulties, Defense Post reported in February that Australia has awarded contracts worth US$ 800, 899 to 11 domestic companies to develop prototype unmanned aerial systems ( UASs ) for its military.

The source says such a move will further Australia’s sovereign drone industry, create jobs and increase military operational effectiveness.

In March 2024, Breaking Defense reported that the UK’s Royal Air Force (RAF ) 216 Squadron, established in 2020 to test uncrewed aircraft, has not conducted any drone tests. The national military drone strategy’s goal of rapid integration of drone services is challenged by this circumstance, according to the report.

In a parliamentary statement, then-President of the UK, James Cartlidge, noted the squadron’s inactivity and the canceled trial with the Koios intelligence drone due to resource conflicts.

The UK Defense Drone Strategy 2024 recommends investing$ 5.91 billion over the next two years in uncrewed capability, accelerating acquisition reform, building a resilient industrial base, defining digital architectures for seamless integration, and instilling a culture of innovation to spur domestic production.

Although the AUKUS bloc has taken significant steps to address these issues and is facing several challenges, the steps may not be enough.

The situation does not bode well for AUKUS vis-à-vis China, the world’s largest drone manufacturer and arguably the reason for the bloc’s existence.

In keeping with that, WSJ reported this month that China saw an opportunity to modernize its military in comparison to the US while the US focused on the Global War on Terror ( GWOT ).

WSJ notes that AI-enabled drones are critical to China’s military modernization efforts. Although the WSJ report notes that drones with limited autonomy could be deployed in combat in the coming years, fully autonomous drones may be far off.

The report also mentions that China dominates the global drone supply chain and is the market leader in large, complex drones like the MQ-9 Reaper and RQ-4 Global Hawk.

It points out that China’s DJI controls 72.3 % of the worldwide drone market share, while the US struggles to create reliable, inexpensive small drones at scale.

WSJ points out that China has a competitive advantage in developing small-scale systems, giving it an advantage in drone swarm tactics. It also mentions that while the US follows a man-in-the-loop approach to using AI-enabled drone swarms, its potential adversaries, such as China, may not abide by such norms.

Additionally, Mark Milley and Eric Schmidt claim in a Foreign Affairs article this month that the US is not adequately prepared for the developing war zone, which is dominated by autonomous weapons, AI, and unmanned systems.

Milley, until recently the US Joint Chief of Staff, and Schmidt, CEO of Google, point out that despite global competitors ‘ rapid advancements in these technologies, the US has lagged in developing and deploying such capabilities effectively.

They attribute delays to outdated military doctrine, bureaucratic inertia, and a lack of explicit strategic intent when integrating AI and autonomous systems into combat operations.

They claim that this inadequacy is particularly worrying because more and more conflicts rely on these cutting-edge technologies to gain a competitive edge on the battlefield. They warn that ignoring the gaps could make the US vulnerable in upcoming conflicts, where they contend that AI and autonomous weapons systems will be crucial.

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Antler closes USm SEA Fund II on SEA startups from day zero to growth stage

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  • Invest in tech-enabled businesses, focusing on Singapore, Indonesia, Vietnam, Malaysia
  • Over the next few months, US$ 3 million will be earmarked to get invested in Malaysian companies.

Antler Malaysia launched its second cohort in July 2024, welcoming 68 experienced, diverse, and highly skilled founders to join the Antler Residency Program.

Antler, the global early-stage venture capital firm with offices in more than 30 cities around the world including Kuala Lumpur, announced the US$ 72 million ( RM318.3 million ) close of its second Southeast Asia fund, Antler SEA Fund II. The new account will remain investing in early-stage tech-enabled firms in Southeast Asia with pre-launch, pre-seed, and plant money.

Over the next few months, the fund targets to invest US$ 27 million ( RM119.4 million ) in 45 early-stage startups. A portion of the funding will go toward startups created as a result of the Antler Residency Programs, which were held in Southeast Asia and for which Malaysia will receive a total of US$ 3 million ( RM13.3 million ).

Start to startups with co-founders now in the early stages, as well as individuals with the knowledge and ability to be founders, the residency will give exclusive access to a community of entrepreneurs, building expertise, a worldwide network of institutional investors, and capital from day zero. The Malaysian group is expected to begin in October of this year.

The Fund has effectively made investments in a number of appealing businesses in Malaysia, including the blockchain-powered B2B procurement system MessengerCo, diagnostic solutions company Biogenes Technologies, and construction projects control system COEX.

Jussi Salovaara, co-founder and Managing Partner of Antler, said, “SEA Fund II marks the second paragraph in Antler’s vision in backing members from the earliest phases through their development. As a world multi-stage investor, we believe there has never been a better day than now to develop. The development of artificial intelligence, access to capital, and a developing South Asian market have all created a amazing atmosphere for technology and the breeding of global leaders.

Antler SEA Fund II is supported by global and regional minimal companions, with over 50 % of the portfolio composed of institutional shareholders, including a sovereign wealth fund, income bank, and college fund.

The bank’s near comes amid excellent discounts and increasing investor appetite for early-stage opportunities, driven by rapid automation, rising middle class, and strong economic growth leads across the region. Preqin data also indicates a significant increase in early-stage investments worldwide, with seed deal sizes rising by 112 % and Series A deals up 31 % on average.

To support founders from the earliest stages of building to growth stage, Antler has introduced ARC ( Agreement for Rolling Capital ), a newly launched fundraising initiative for early-stage founders to secure up to RM2.65 million, including the initial investment, pro-rata follow-on, and ARC, within the first nine months of a company’s lifecycle.

Antler may also continue to invest up to RM44.21 million of scale-up investment in growth-stage companies from Series A onwards through its emerging development bank, Antler Elevate. The RM1.26 billion fund invests worldwide in breakout firms, including within Antler’s early-stage money.

Antler’s SEA Fund I has invested in 91 companies, including e-SIM market Airalo, system for refurbished digital devices Reebelo, bright point-of-sale system provider Qashier, AI-driven economic data automation platform Bluesheets, and current expense management solution Volopay. Globally, Antler has invested in more than 1, 000 startups across a wide range of industries and technologies.

Beginning in October 2024, Antler Malaysia will begin accepting applications for its third cohort. Startups who are looking for funding or simply the best talents with the goal of creating the most influential companies of the future are encouraged to apply here.

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Why Japan’s Kishida finally called it quits – Asia Times

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TOKYO — As Fumio Kishida bows out of Asian leadership, let’s first supply with the roll on why.

No, Prime Minister Kishida is n’t falling on his weapon because of slush fund scandals. His Liberal Democratic Party members are about as uncommon as Tokyoites who consume fresh fish. After 1, 045 days in strength, Kishida’s struggling economy and failure to implement any significant reforms derailed.

Perhaps the premiership of a Group of Seven economy is n’t for you if your biggest improvement in 34 months is increasing the minimum wage to a whopping US$ 7 per hour.

Of course, Joe Biden did Kishida no privileges by stepping away. The strongest argument made by Kashida for winning the party’s leadership election in the upcoming month was her close connection with the US leader. Kamala Harris will now be considered debate as Biden is no longer the Democratic Party nomination.

But Kishida’s situation is its own financial sign with repercussions for shareholders rushing into Tokyo companies, Bank of Japan policies, Eastern geopolitics and US-Japan relations.

The tale driving waves of investment sliding Tokyo’s approach is a “booming” Japan. That epic changes over the last few years, led by former Prime Minister Shinzo Abe, whipped aging, inefficient, change-averse Japan Inc. into form.

In one method, this acquire has merit. It’s correct that Abe, Kishida’s leader, from 2012 to 2020 pressed companies to increase returns on investment and offer owners a louder tone. These actions, in addition to sharp drops in the renminbi, boosted corporate earnings and elevated the Nikkei Stock Average above its all-time highs from 1989.

Problem is, that’s very little all so-called” Abenomics” accomplished. Abe’s big talk of weakening labour markets, cutting government, supporting companies, empowering women and attracting top global expertise amounted to little.

Abe encouraged the main bank to open the pecuniary gates and removed the heavy lifting from the BOJ’s management in order to retool the market. However, a weaker yen even fueled a bull industry in confidence.

The japanese depreciation was prioritized over moves to boost competition in all three Asian governments that have been in power since late 2012. More drastic quantitative easing made politicians less and less subject to the force to stage playing fields. It took the burden off CEOs to develop, rebuild and jump for the railings.

That’s then backfiring on Kishida brilliantly. In many ways, he is footing the bill for the growing disconnect between what Abenomics promised and the situation Japan will face in 2024. The fact that compensation benefits are also trailing prices, generally speaking, amid a once-in-a-generation property bubble says it all.

The significant disparity between business pledges to raise wages and real gains is Kishida’s other issue. Earlier this year, labour unions were thought to possess scored a once-in-generation pay gain. The truth may end up being quite distinct.

” The’ shunto’ flower salary negotiations produced a three-decade report result, but real pay gains recorded across the economy have been disappointing”, says Stefan Angrick, top economist at&nbsp, Moody’s Analytics.

What’s more, he adds, “industrial manufacturing stalled in the second quarter and wage increases have headroom, both of which move the healing further into the range”.

All this has given the BOJ a circumstance of rate-hiker’s shame. More tightening measures are currently off the table, as Governor Kazuo Ueda’s group has already indicated following the rate increase decision on July 31.

The social formation in Tokyo is largely unknow where all this will lead. The list of possible Kishida descendants includes: Digital Minister Taro Kono, past Defense Minister Shigeru&nbsp, Ishiba, LDP Secretary-General Toshimitsu&nbsp, Motegi, former Foreign Minister Yoshimasa Hayashi, past Environment Minister Shinjiro&nbsp, Koizumi, and Economic Security Minister Sanae&nbsp, Takaichi.

As of now, none of the above is a distinct front-runner. In reality, the LDP election process will have the most intense political competition in Japan in recent memory.

The problem, of course, is that none of the apparent applicants is known to be an economical reformer. Given that the LDP has essentially wasted the next 12 years, which provided a window into Japan’s future, that is problematic.

No modern Chinese leader had a blueprint for an economy that voters approved of, great endorsement ratings, and plenty of time to put it into action when Abe won the league for a second time in 2012 ( Abe held business for almost eight years ).

Then, Kishida is paying the price for LDP silence over the last 4, 249 time. Yes, Kishida is to blame for his low 20 approval rankings. He is also suffering from the combined effects of the ruling party’s failure to improve Japan’s economic standing.

Kishida is n’t without his win. A big one is raising defense spending to a record 7.95 trillion yen ( US$ 54 billion ), or close to 2 % of gross domestic product. If Donald Trump is to get another term in the White House, this success may be beneficial. Trump agitated for allies to increase military spending during his first name as US senator, which spanned 2017 to 2021.

Despite the economic mood that wages are falling, prices is still at its peak. Below, Kishida did himself some favors by slowing-walking techniques to revitalize the reform process.

This includes some of Kishida’s unique ideas. In October 2021, Kishida promised a “new neoliberalism” to destroy Japan Inc. and redistribute money toward the middle category.

Kishida furthermore proposed to open a way for the US$ 1.5 trillion Government Pension Investment Fund, the world’s largest for object, to finance a business bonanza. Along with tapping&nbsp, GPIF, Kishida sought to woo foreign investment.

But little came of” Kishidanomics”. The reality as Kishida bows out is that wage gains are bigfooted. This is largely a side-effect of Abenomics, which shaved a third off the yen’s value.

In addition to facilitating complacency, it made Japan particularly vulnerable to import inflation given the rise in food and energy costs. Japan has been particularly hit by the effects of Covid-19, Russia’s invasion of Ukraine, and rising Middle Eastern tensions.

Japan has now experienced the inflation it has been attempting to produce for 25 years. But it’s the “bad” kind that depresses consumer confidence and business investment. This predicament tarnished Kishida’s economic legacy.

Political finance scandals are never helpful, of course. However, Kishida is losing the sword because of an economy that has n’t kept up the lofty goals of the last ten plus years. Promises that the LDP’s next leader will struggle to keep as the US economy struggles and China’s economy slows.

On Wednesday, Kishida said, without irony, that&nbsp, “in order to fully emerge from a deflation-prone economy, we must accelerate wage and investment growth, and ensure we achieve our goal to expand Japan’s gross domestic product to 600 trillion yen ($ 4.10 trillion )”.

If only the LDP had done that, Japan might actually be booming. Additionally, it might not be required to elect its fourth prime minister in less than a year. Suffice to say, that to-be-named leader might be set up for economic success.

Follow William Pesek on X at @WilliamPesek

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