MTDC’s hattrick at the 14th MVCA Awards 2020/2021
By Digital News Asia December 22, 2021
- Greatech Technology, Pitchin Platforms & Sophic emerge category winners
- MTDC support crucial during their early days of existence in the market
Last Wednesday, 15 Dec the Malaysian Venture Capital & Private Equity Association (MVCA) held the 14th MVCA Awards 2020/2021 to recognise industry players, partners and entrepreneurs that have achieved outstanding milestones and contributed to the funding industry of Malaysia.
“The award ceremony is the most significant occasion for MVCA because this is the opportunity for us to recognise and share the achievements, success and contribution of our industry stakeholders as part of the Malaysian financial industry. For 2020/21 awards, we are honoured to present 12 awards to distinguished recipients under 12 categories,” said Muhammad Hazani Hassan, chairman of MVCA.
For Malaysian Technology Development Corporation (MTDC), it was a particularly sweet night as three of the companies in MTDC’s ecosystem walked away proud winners in their categories. MTDC defines its ecosystem as organisations that have benefited from its various grants/funding/capacity building/knowledge sharing/market access programs over the past two decades.
“MTDC is honoured that three of our ecosystem companies were recognised at the recent MVCA Awards 2020/2021. Their win is a testimony that our companies have excelled in their pursuit for operational and managerial excellence as well as their inventiveness in providing local technology solutions,” says Norhalim Yunus (pic, left), CEO of MTDC.
For the recipient of the Chairman’s Award, Pitch Platform Sdn Bhd, the recognition is the cherry on the cake in what has been a record setting year for Sam Shafie, cofounder and CEO of equity crowdfunding platform, pitchIN. The company announced that it has crossed US$47.3 million (RM200 million) milestone in November 2021, just 12 months after setting an ECF milestone of US$23.65 million (RM100 million) funds raised by issuers.
“We are delighted with this recognition. In 2016, pitchIN set out to add value to the funding landscape through the democratisation of fundraising. We have become a vital component of the Malaysian funding ecosystem. In November 2021, pitchIN crossed the RM200 million raised landmark. This remarkable achievement was achieved by the support of partners like MTDC, which have introduced a funnel of companies to pitchIN as well as committed funds for investment for ECF deals,” said Sam.
The company MVCA recognised under Exits – Large Cap category, Greatech Technology Bhd, has proven to be one of the success stories in corporate Malaysia for 2021. It also happens to be one of MDTC’s best success stories to date.
With more than 25 years of experience in the factory automation industry, expertise in manufacturing production line systems and automated equipment for clients globally, Greatech boasts of as in-house manufacturing facility complete with precision machine shop, sheet metal fabrication shop, engineering facility and system assembly space.
“As an automated manufacturer, MTDC’s funding, namely its Commercialisation of Research and Development Fund and Technology Acquisition Fund was key to the company’s success during our early stage. MTDC’s network and business advice also placed Greatech in good stead by securing orders from customers globally,” said Tan Eng Kee (pic, right), the cofounder and CEO who established Greatech in 1993.
Rounding up its hattrick of wins is Sophic Sdn Bhd which was recognised as, Outstanding Investee Companies where the criteria is to demonstrate, years CAGR (Compounded Annual Growth Rate) for revenue and/ or 3 years CAGR for EBITDA (Earnings before Interest, Tax Depreciation and Amortisation).
Cofounder and CEO, Koh Dim Kuan (pic, right) was generous in his praise. “MTDC has been a pillar of strength in our growth journey, and with the woven partnership we will further reach the next heights of excellence,” he declared, adding, “together we have achieved more."
Launched in 2008, Sophic is a digital solution provider riding on the innovation wave of Industry 4.0. It started principally as a software company and has evolved with a young and energetic team that now offers solutions enabling smart machines with automation and IOT solutions at the core, smart factory towards a full lights off integrated solution, smart city with AI application.
Encouraged and sharing in the success of the three winners, MTDC’s Norhalim says, “The significant acknowledgement from MVCA and the wins by our ecosystem companies powers us ahead into 2022, eager to create greater impact for Malaysia’s digital economy ecosystem,” he said.
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