Cyberjaya can be the hub for fintech startups: Cyberview
By Goh Thean Eu December 12, 2016
- Selection process for the second batch of accelerator programme will start soon
- Most startups don’t see light of day long enough to make a positive impact on society
CYBERVIEW Sdn Bhd, the master developer of Cyberjaya, believes that the township has what it takes to be hub for financial technology (fintech) startups, partly thanks to its ongoing initiatives to attract fintech startups.
"I believe that in time, Cyberjaya can be a hub not only for fintech startups and companies, but also for technopreneurs and businesses that have a common goal in playing a part towards making a difference in society," said Cyberview managing director Faris Yahaya (pix above) in an email interview recently.
"We have an aim which is bigger than us, and so we’re bringing together the brains, the talent, and the resources necessary to make something great happen."
The company launched its 4th Living Lab Accelerator Programme and the CoInnov8 co-working spaces in Cyberjaya last month.
So far, five startups were shortlisted from an initial 33 submissions. These shortlisted startups - namely Billpls, CurrenSeek, Otomate Me, PrimeKeeper and Future Integrated Networks - will be able take on the accelerator programme and to work at the co-working spaces at CoInnov8.
According to Faris, these five startups have undergone a "startup roadmapping" session with the programme manager to discuss their acceleration plans moving forward.
Faris added that there are plans to select the second batch of the accelerator programme in the near-term.
"The selection process for the second cohort of fintech startups will commence soon, which means we will be running two batches simultaneously and will have a total of 10 startups under this accelerator programme working out of CoInnov8," said Faris.
How is the accelerator programme, CoInnov8 and Cyberjaya shaping the startup ecosystem?
The launch of the accelerator programme and CoInnov8 are aimed at helping startups to have better chance of survival and success.
"There are about 102 co-working spaces available at CoInnov8, which includes a wide area for the programme to run.
"It’s a go-to space that is able to provide startups with the necessary facilities including a workspace for prototyping, a showcase area, access to valuable mentorship programme, and a community network that is able to accelerate and propel their growth," said Faris.
Besides being able to get the guidance from programme manager and to work out of the co-working space, the shortlisted startupswill also have access to the recently established City Innovation Council (CIC).
CIC is a body led by Cyberview and comprises Malaysia Digital Economy Corp (MDEC), Malaysian Global Innovation and Creativity Centre (MaGIC), Malaysian Communications and Multimedia Commission (MCMC), Setia Haruman, and Sepang Municipal Council.
"It doesn’t end with the support of the collaborative space and the facilities and resources that come with it, as startups will be able to pilot their inventions in a real-life setting – the city of Cyberjaya as their platform of validation.
"This way, these startups are able to design and develop their offerings with the understanding of the needs of society, which would serve as an opportunity gap for these technopreneurs to fill," said Faris.
Through the programme and collaborative space, the startups will be able to pilot and validate their innovations in a real world settings. For Faris, there is no other community more suitable than the Cyberjaya community -- which he believes that 20% of the city's total population are early tech adopters.
"In order for change to happen, we need to have the courage to spark those changes for the transformation of a better tomorrow, and we cannot do that if we’re stuck in the same cycle with the same ideas. We need to push boundaries and give support to those who are willing to do just that. And so we need to recognise that the ideas of these startups need to be supported with the right resources and avenues for commercialisation.
"Most startups don’t see the light of day long enough to make a positive impact on society simply because they were not provided with the right support system. So here we are, setting the foundation in the form of facilities and resources so that ideas will not merely stay as ideas, but will live up to their potential in making an impact on society," he explained. system.
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