The Malaysia Digital Economy Corporation (MDEC), in collaboration with Proficeo Scaleup Malaysia, announced the successful conclusion of the Founders Grindstone: VC Readiness Programme (VCRP).
VCRP, a transformative 12-week programme aimed to bolstering tech entrepreneurs’ capabilities, skills, and insights in the complex fundraising process, and address critical gaps in the venture capital (VC) investment. It serves as a platform to bridge knowledge gaps and foster a more conducive environment for attracting venture capital in the challenging investment landscape. The programme was launched in May 2023.
The Chief Executive Officer of MDEC, Ts. Mahadhir Aziz said, in a significant stride towards fostering innovation, investment readiness and sustainable growth within Malaysia’s startup ecosystem, the Founders Grindstone: VC Readiness Programme demonstrates MDEC’s Digital Economy commitment to nurturing the tech startup ecosystem in Malaysia.
“With the Malaysia Digital (MD) national strategic initiative and its PEMANGKIN programmes, we aim to generate significant economic spill-over and foster exceptional growth, reshaping the way we work and live in Malaysia,” he said in a statement.
Out of 20 startups shortlisted by MDEC and Proficeo, 10 startups were chosen to embark on this journey to refine their strategies and lay the groundwork for early-stage venture investments.
The participating companies are Bio Inteltech Sdn Bhd, Capsphere, Cult Creative, Matrix Ideal Sdn Bhd (Evolet), Secondlifeasia Technology Sdn Bhd, Shoraka Suyula Platform Sdn Bhd, Synxsoft Sdn Bhd, TRYKE Transportation, Leasy App, and Wahine Capital Sdn Bhd.
Throughout the programme, each participating startup was provided with one-on-one interaction sessions with analysts and partners from ScaleUp Malaysia, focusing on fixing key gaps for investment readiness such as the Product and Business Model scalability, and pitch deck storytelling.