MyStartup Hub 2021 invites global startups to Malaysia
By Digital News Asia April 28, 2021
- Supports global startups to establish presence in Malaysia as gateway to Asean
- Selected startups to undergo 12-month structured programme
GLOBAL startups looking to establish their business hub in Malaysia can now look to do so via the newly-launched MyStartup Hub (MSH) programme, which is affording a new round of market accessibility and incentives.
An initiative of the Asean Centre of Entrepreneurship (ACE), MyStartup Hub is engineered to support startups in their growth into Southeast Asia, it said in a statement.
Through MSH, startups from anywhere in the world can establish a presence in Malaysia as a gateway to access Asean’s marketplace.
“MSH 2021 now starts with an introduction to Malaysia with more incentives available.
“This year, we are looking to assist 20 high-growth global startups with unique technology looking to expand in and through Malaysia – doubling our reach from last year as international borders open and markets move to post-pandemic recovery,” said Amiruddin Abdul Shukor (pic), acting chief executive officer of Malaysian Global Innovation & Creativity Centre (MaGIC).
Amongst others, MSH 2021 will offer incentives to selected start-ups that fulfil the commitments under the MSH programme.
An additional incentive of US$750 is added this year to the programme for global startups that successfully recruit a minimum of three local talents, it added.
“We are inviting global start-ups at the high-growth and expansion stage to apply for the programme which has been streamlined and well-designed for their soft-landing through this flagship support services programme.
“Solutions offered by the start-ups should benefit the people in Asean, whilst catalysing innovations and knowledge transfer to Malaysian talents.”
A gateway to Asean
Priority will be given to startups with products and solutions in the following key areas: Smart manufacturing; smart cities and transportation; technology in healthcare, education and agriculture; and culture, arts and tourism.
The startups are required to have a clear Asean-focused growth, expansion and commitment plan, coupled with strong financial backing and a track record on performance.
Successfully selected global startups will undergo a 12-month structured programme where the incentives are valid. In turn, they will receive pertinent and in-depth advice on a guided business incorporation process, hands-on mentoring, local talent acquisition and access to the Malaysian market.
MSH2021 is supported by industry and technology leaders including Microsoft Malaysia and other partners which are purposed on driving a knowledge and innovation led ecosystem, MaGIC said.
“Last year 10 global startups participated in MSH 2020 - primarily from China, Taiwan, India, Egypt, Sri Lanka and Indonesia.
“Participants in this programme were engaged in a number of industries including artificial intelligence (AI) and technology, agriculture technology, aeronautics, e-commerce, and power and energy,” said Amiruddin.
Cheng Loke, director of business development from The Decision Lab, which was founded in and headquartered in India, said the MSH was a pivotal point in their market expansion strategy.
“We are currently expanding to Singapore, Thailand and Indonesia from Malaysia. It is very easy for us to get access into these countries from our business hub in Malaysia, which is actually centrally located. We started in 2017 and have grown tremendously, presently working with very big clients,” he claimed.
Speaking of the importance and efficacy of MSH, Cheng said joining the right programme and getting the right resources to help, especially as an international start-up, is very beneficial.
It can save a lot of time in terms of doing research, figuring things out on your own and a lot of money and effort, he added.
The company’s solution, CEMPIA (Customers Experience Management Platforms for Insights and Actions) touts a comprehensive, real-time and digital patient experience (PX) management platform.
Today, it is being used by several leading hospitals in Southeast Asia, Cheng claimed.
To sign-up and participate in MSH2021, visit here. The registration deadline is at May 7.
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