Endeavor Malaysia picks 8 companies for its ScaleUp Endeavor Cohort 2
By Digital News Asia July 21, 2021
- Shortlisted based on three main criteria: Entrepreneur, Business & Timing
- Part of commitment to build a more robust entrepreneurship ecosystem
Endeavor, a global high-impact entrepreneurship movement that works with growth stage businesses in 40 markets around the world have selected eight companies for its second cohort of ‘ScaleUp Endeavor’ – a hyper-adaptive 24 months program aimed at supercharging the growth of Malaysia’s high potential, late stage startups that aspire to be an Endeavor Entrepreneur.
To catalyse the speed of the ecosystem in producing more high-impact scaleups for the upcoming decade, Endeavor Malaysia have selected eight companies to journey with Endeavor for a 24 months hyper-adaptive program designed to guide entrepreneurs through the complexities of scaling a business.
The eight selected companies from a pool of applicants were screened internally by the Endeavor team, the ScaleUp Steering Committee followed by a Selection Day where eight panelists from the Endeavor network assessed all the shortlisted companies based on Endeavor’s three main criteria: Entrepreneur, Business and Timing.
"Endeavor plays a role in providing genuine mentorship with a passionate ecosystem. Not everyone will pass the selection process but the fact that the companies showed up for the Selection Day despite the global pandemic shows that they are heading the right way; Tough times don’t last, tough people do. Congratulations to all shortlisted participants!" said Wee Jonn Leow, CEO of Photobook Worldwide and a member of the ScaleUp Steering Committee.
The list of shortlisted companies include:
1. Naluri: A human-driven, AI-augmented digital health solution that delivers improvements in mental and physical health in an affordable way.
2. Beligas: Helps thousands of Malaysians to order and get quick & efficient deliveries of LPG cooking gas delivered right to their doorstep while offsetting gas price when you recycle with them!
3. BoomGrow: First 5G-connected vertical farm that transforms farming by producing 100% clean & nutritious goodness.
4. Pasta Panas: Fast casual dining outlet serving classic Italian favourites for only a fraction of the price, constantly exploring endless pastabilities!
5. Vircle: Malaysia’s First Parental-Controlled Nurturing Solution.
6. DoctorOnCall: Malaysian-based telehealth providing digital health services offering doctors/specialists booking, medication sales & delivery.
7. Bloomthis: A startup that blossomed into Malaysia’s most stylish online florist and purveyor of gifts.
8. Good2U: Off-price retail chain store that sells affordable designer cut-label clothes.
“For this second cohort, we selected the cream of the crop as we’ve set clear goals as we aim to double the revenue of the selected companies and also help them to complete a total fundraise amount of US$30 million for their growth. We believe Malaysia is no exception to this type of evolution as we encounter many decade-defining startups in the late 90’s and 20’s that are truly remarkable such as Jobstreet, Groupon, Grab and Carsome. With this, Endeavor Malaysia is taking on a bigger role through close facilitation in supporting and developing entrepreneurs through our ScaleUp Program –to take on a bigger role to build a more robust, resilient and sustainable entrepreneurship ecosystem-especially during these challenging times. We firmly believe in the ethos that when economies turn down, entrepreneurs turn up,” commented Adlin Yusman (pic), Managing Director of Endeavor Malaysia.
As part of the ScaleUp Endeavor program, all selected companies will be part of this hyper-personalised network support offering fixed and ad-hoc mentorship, Blitzscaling Circles (peer-to-peer sessions), Road-to-Market, access to capital and a dedicated account manager to monitor the entrepreneurs needs and growth.