Malaysian Startup and Social Entrepreneurship … capitals to other government driven initiatives for nurturing the startup landscape, Malaysia’s startup ecosystem is one that does

1 | Malaysian Startup Ecosystem Report 2016

Malaysian Startup and Social EntrepreneurshipEcosystem Report 2016

2 |

EXECUTIVESUMMARY


2016 has been another record year for the Malaysian startup community and for MaGIC. For aspiring entrepreneurs, the presence of a dynamic and multicultural generation as well as supportive business structures and being in a strategic geographical location make Malaysia a great place to build a startup.

As in all other industries, the Malaysian government is actively involved. From matching funds forventure capitals to other government driven initiatives for nurturing the startup landscape, Malaysia’s startup ecosystem is one that does not come without continued support from a number ofstakeholders in the public sector.

Despite Malaysia being a relatively small country as compared to the neighbouring countries, it has proven strength in empowering globalization and has also demonstrated itself as a significant base where it is home to startups that have raised huge funding rounds. iFlix raising US$45 million in funding in March 2016 and kFit scoring US$12 million in a series A round are only some of the stirring factorsfor the entire market to speculate when the next magic will happen. For this reason, Malaysia hasrecently been made known as a platform in Asia.

However, there is a deficit in technical talent and much like many of the resources that Malaysia relies on, talent too, is imported. Nevertheless, exits and startups with growing valuations still prove thatopportunities are abound for entrepreneurs in Malaysia.

4 |

Debra Fong, currently a Senior Analyst under the Technology & Innovation Team joined MalaysiaGlobal Innovation & Creativity Centre (MaGIC) inOctober 2016. With prior experience in bothanalytics and corporate sales in the oil and gasindustry for three years, her current role in MaGICinvolves studying and gathering insights onthe local and global startup and socialentrepreneurship ecosystem. With this, her aimis to achieve a better understanding on the current achievements of Malaysia’s entrepreneurshipecosystem and further strategise in creatinggreater global impact.

Being a striving entrepreneur herself, she understands the challenges that come with startingone’s own business after she took the leap of faithand began one of her own-an online bakingbusiness (instagram.com/fatdebbakes) which she currently pursues part time during the weekends.

Author’s Biography


This report is based on research through multiple data platforms, websites and resources suchMaGIC’s Startup Database (https://www.startupdb.asia), the opinions of individuals at MaGIC,Pitchbook, Tech In Asia, Tracxn, Vulcanpost, Worldbank and Government portals to name a few.

Also not forgetting my teammates Syafiruddin Mustafa and Rifhan Razali who assisted me in thedata collection and research, publishing this report would not have been successful withouttheir assistance.

DISCLAIMER : This report is for information purposes only and the information contained in thispublication is derived from data obtained from multiple sources believed to be reliable and in good faith, but no warranties or guarantees, representations are made by MAGIC with regard to theaccuracy and completeness of the data. The opinions reflected herein may change without noticeand the opinions do not necessarily correspond to the opinions of MaGIC. MaGIC does not have an obligation to amend, modify or update this report or to otherwise notify a reader or recipient thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Acknowledgement

6 |

The Facts

Government

Community Events

Funding

Accelerators & Co. Working Spaces

Going Global Tips

Opportunities & Challenges

Key Networks

Notable Startups

Overview of Other Ecosystems

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06

03

08

11

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07

04

10

- pg07

- pg28

- pg30

- pg19

- pg39

- pg59

- pg13

- pg32

- pg25

- pg52

Table of Content

Start Up Case Studies09 - pg48

Expectations in 2017

What They Said

12

13

- pg61

- pg66


01THE

FACTS

8 |

Malaysia Citizen Population

1. http://data.worldbank.org/country/malaysia2. “2010 Population and Housing Census of Malaysia” (PDF). Department of Statistics, Malaysia. p. 113. Population, Household and Living Quarters (2010), Department of Statistics, Malaysia4. “Current Population Estimates, Malaysia, 2014 - 2016”. Department of Statistics, Malaysia.

30,331,007

22.5million 5.72million

60.3%

Malays andBumiputeras

24.6%

Chinese7.1%

Indians

8%

Others

Ethnic Groups


GDP 2016 Average ConnectionSpeed 2016

Smartphone Users

Average PeakConnection Speed 2016

Growth YOY 2016

* Note: Latest data attained based on Q2 2016 figures.

1. http://databank.worldbank.org/data/reports.aspx?source=2&country=MYS2. http://www.thestar.com.my/business/business-news/2016/08/12/malaysia-gdp-grew-4pct-in-q2-of-2016/3. Statistics Department MCMC4. https://www.akamai.com/us/en/multimedia/documents/state-of-the-internet/q3-2016-state-of-the-internet-connectivity-report.pdf5. https://www.statista.com/statistics/494587/smartphone-users-in-malaysia/

61billion* 7.5Mbps28.0million

16.4million 51.7Mbps

Malaysia GDP per capita Active Internet Users Internet Speed

4.0*Current US$

Annual %

10 | 1. http://www.skmm.gov.my/skmmgovmy/media/General/pdf/3Q16-infog.pdf

28million 2.7million 141.6

Total mobilesubscriptions 2016

Total broadbandsubscriptions 2016

Mobile Penetration Rate 2016

%

Malaysian Internet & Mobile Usage


Poverty

0.5% of Malaysian households earning less than RM500/

month, which is 1.45 million Malaysians

Rural/Urban Dividet

Only 14% of rural households earn more than RM5000/month compared to 41% in

urban areas

Employment

400,000 job seeking individuals are

currently unable to seek paid employment

in Malaysia

Social Enterprise Facts

1. Wan Dazriq, Manager (Strategic Initiatives), ASEAN Centre of Entrepreneurship

12 |

Education

Ranked 39th out of 44 countries, with lower than global average

score in 2012PISA exercise

Sustainability

94% of Malaysia’s energy consumptions

is throughnon-renewable

fossil fuels

Carbon Emission

7.67 metric tonnesof Carbon Dioxide emitted for everysingle Malaysian

in 2012 02Social Enterprise Facts



02OPPORTUNITIES

& CHALLENGES

14 |

Ease of settingup a business

Multiculturalsociety

SSM application is easier than before

Ability to produce a larger scale of

products

SupportiveGovernment Policies

Availabilities of grants and tax exemptions

for investors andstartups coupled with supportive agencies

ie. MaGIC, SMECorp, MDEC etc.

Opportunities


Huge mobilepenetration

65% smartphone penetration rate

StrategicGeographical Location

Relatively Cheaper Operational Costs

Due to exchange rate Malaysia is located within 2-3 hours from

the neighbouringASEAN partners and 4-6 hours from our

Asia partners

16 |

Shortage ofTechnical Talent

Non - Homogenous market

Shortage of Strong Startups in Malaysia

Technical talents moving overseas

searching forbetter opportunities

With every change, cost increases. There is always risks (brand damage, etc.) if the

localization fails

May have an impacton Malaysia’s

attractiveness as a startup hub to

foreign investors

Challenges


Leadership Pathways

The social enterprise sector boasts more diverse leadership than

traditional sectors, providing aleadership pathway for

women and young professionals

Tackle Global Issues

Combat social issues ie. improve a community (often a marginalized

group), provide access to skills training, employment, and revenue; and often at the same time attempt

to provide some sort ofenvironmental aid simultaneously

Opportunities created through Social Entrepreneurship


18 |

Gaining legitimacy,support, andrecognition

from the publicand government

Lack of businessacumen to run

the enterprise ina viable andsustainable

manner

Lack of funding &financial support

Lack of accessto qualitytalent &

manpower

Challenges faced by Social Entrepreneurship



FUNDING

20 |

19

32

63

40

Funding in Malaysia Startup Ecosystem

1. Pitchbook; Figures are updated as at 7 Dec 20162. Eric Tan (https://www.slideshare.net/rictann/south-east-asia-and-malaysia-deep-dive-startup-ecosystem-2016-an-overview)

Deal Size (USD) Deal Count

$9.5m

$33.2m

$47.9m

$33.1m

2013 2014 2015 2016


Deal Count and Deal Size in Malaysiacompared to the whole of SEA

Malaysia against SEA: Median Deal Size

% of Deal Count % Deal Size From 2013 to 2016, the gap of median deal size grew from $0.35m to $0.87m – few Malaysian startups managed to scale at later stage.

Median Deal Size (USD) - SEAMedian Deal Size (USD) - Malaysia

2013

2014

2015

2016

2013

2014

2015

2016

$0.50m

$0.59m

$0.47m

$1.00m

$0.15m

$0.08m

$0.11m

$0.13m

9%

16%

10%

14%

1.7%

4.4%

2.6%

1.7%


22 |

Overall 2016 although lower than 2015, is still an increase overall from 2013 and 2014. The dip could be due to the lack of startups that are on thefundraising mode (either quality, readiness orstartups just do not need the money).

Also with regards to the lower average perinvestment, it could be due to the fact that VCs and/or startups are becoming more savvy about how much they would need for their growth and a such, have designed smaller rounds to suit.

Alternatively, VCs may want reduce their risks but increase their bets, so smaller rounds could help them achieve that - i.e. the manner of how 500Startups invest.

Jonathan Lee of MaGIC


Most Active Investors in Malaysia in 2016

34

1011

917

7

No. of Deals in the Past 5 YearsNo. of Total Investments 2016

Preferred Verticals

Preferred Stage

E-Commerce,EdTech, Fintech,

Mobile, SaaS

Seed, Series A

AdTech, Big Data, E-Commerce,Fintech, SaaS,

Mobile

Seed, Series A

IoT, Big Data,E-Commerce,

Fintech

Seed, Series A

USA China Malaysia


24 |

Most well-funded Malaysian startups with $2m+ funding in 2016

$15.25m

$12.0m

$4.50m$3.0m $3.45m $2.27m $2.0m $2.35m

$2.7m $2.0m $2.0m $2.0m

Total Funding To-DateFunding Raised in 2016

Founded / #Employees

Industry / Vertical

2015 / 130+ 2015 / 65+ 2015 / 72012 / 30+ 2013 / 6 2015 / 25+

Lifestyle /Marketplace

Services /Marketplace

Finance / FinTech Solution

E-commerce / Marketplace

Healthcare /Marketplace

E-commerce / Marketplace

Mar 2016 May 2016 Mar 2016 Jul 2016 Jan 2016 Mar 2016



06NOTABLE

STARTUPS

26 |

* Note: Latest data attained based on mindshare.

1. TechinAsia

Top six notable startups in 2016


Notable S.E Startups

28 |

04GOVERNMENT

List of agencies, foundations & ministries involved in the

startup ecosystem


Ministries

Foundations

Agencies

30 |

05COMMUNITY

EVENTS


Startup Weekend by StartupWeekend.org

Pitch Tuesdays by 1337 Accelerators

The Pitch byNext Academy

Grill or Chillby MaGIC

StartupGrindPowered by Google for Entrepreneurs

Let’s Jam @ GEM by Global Entrepreneurship

Movement (GEM)

Community Events

32 |

07KEY

NETWORKS

33 | Malaysian Startup Ecosystem Report 20161. https://www.techinasia.com/14-malaysian-startups-poised-breakout-2016

Azran Osman-RaniCEO of iFlix

Anthony TanGRAB

Chan Kok LeongiPay

Joel NeohFounder & CEO of KFit

Jesrina ArshadFounder of Purely B

Vivy YusofFashion Valet

Founders

34 |

Mentors

Khailee Ng 500 Startups

Jonathan Lee MaGIC

Warren Leowdesigns.net

Vishen Lakhiani Mindvalley

Patrick GroveCatcha Group

Mark Chang Jobstreet


Venture Capitalists

Cradle Seed Ventures Management Pte Ltd

1337 VenturesSdn Bhd

5M InvestmentHolding Ltd

3P Infra ManagersSdn. Bhd

CIMB Private Equity Advisors Sdn. Bhd

DTA VenturesManagement Sdn. Bhd

36 |

Edmond Yap Chief Education Officer

Edunation

Daniel Loy Director, Centre of

Learning & Innovation

Petrosains

Julia Chong CEO

The TrulyLoving Company

Fahmi ZawawiManaging Director

TOMS Shoes

Shuyin Tang Principal

Unitus Impact

Rashvin Pal Singh Co-Founder & CEO Biji-Biji Initiative

Sasibai Kimis Founder &

Managing Director

Earth Heir

Yasmin Rasyid President

EcoKnights

Key networks in S.E (Founders & Mentors)


Maybank

Axiata Digi Incub8Cyberview

Maxis Inspire TuneLabs

1. https://drive.google.com/open?id=0BxNQbbsjgrAgSDZVXzV0WURaaHM

Corporates

38 |

Tech In Asia

Deal Street Asia Malaysian Digeste27

Tech Crunch asia Vulcan Post

1. https://www.bornevia.com/blog/20-top-sources-in-our-list-for-asia-technology-and-startup-news/2. http://www.allyoucanread.com/malaysian-newspapers//#news

Media


08ACCELERATORS &

CO. WORKINGSPACES

40 |

Katsana Malaysia Logistic

Eggbun EducationKorea Education

SuitApp Russia Fashion

Happy BunchMalaysia Online Retail

iKargo Malaysia Logistic

Door 2 Door Doctor Malaysia Healthcare

MaGIC AcceleratorNo. Startups Graduated:MAP: 139 / MAP SE: 69 / DISTRO DOJO: 26


WeTeach Germany Education

Kakitangan Malaysia Smart Office

Apver Thailand Digital Media

The Lorry Malaysia Logistic

GuarDia Indonesia Music

Parkit Australia Social Enterprise

WatchTower and FriendsNo. Startups Graduated: 30

42 |

HiGi Energy Malaysia Energy

KidzBOT Vietnam IOT

Asian LaunchpadNo. Startups Graduated: 3


Asian Launchpad

TechSailor Singapore Analytics

CincaiBuyMalaysia E-commerce

SalamAkikahKorban.com Malaysia Halal Purchasing

One Ping Malaysia IT Development

Tapway Malaysia Big Data

Veonic Malaysia Security

MADNo. Startups Graduated: 19

44 |

1337 AcceleratorNo. Startups Graduated: 9

ParkEasy Malaysia Utility

Baucar Malaysia E-commerces

GigFairy Malaysia Entertainment

ClosetStyles Malaysia Fashion

Owesome Malaysia Personal Finance

Tide Analytics Malaysia Analytics


1337 Accelerator GameFoundersNo. Startups Graduated: 52

Interactive Fate Games Development

27Rabbits Malaysia Games

Development

Cupcake Entertainment Brazil GamesDevelopment

Amazing Soul Games Columbia Games

Development

Figment Games Philippines Games

Development

Team Red Panda Slovenia Games

Development

46 |

Notable of other Existing Accelerators

TuneLabs

Cyberview Living Lab Accelerator

Hong Leong Launchpad

Digi Accelerate

The Hangout, Johor

1. https://vulcanpost.com/605881/accelerator-programme-startup-malaysia-2017/


The Canvas

MaGIC Coworking Space The Co. BangsarIncube8

Make Space Uppercase

Co-Working Space

48 |

09START UP

CASE STUDIES


Introduction : BorderPass gets you through airport immigration in seconds. We send your biometrically verifiedprofile to the destination government ahead of travel to kickstart the immigration screeningprocess. Pre-cleared users can skip theimmigration queue and form using a seamlessand secure BorderPass automated gate on arrival.

Competitors : There are other companies in the Malaysian border control business, for example IRIS, NERS, Prestariang and Datasonic, but they are established players.

Problems/Issues tackledby Borderpass : BorderPass aims to tackle airportovercrowding, which causes discomfort and creates security issues.

Challenges faced by Borderpass : On a technical level, we are working on theintegration of hardware from multipleinternational vendors. We also have to getapprovals from various private and government institutions. Funding is also an issue as we areinitially capex heavy during pre-commercialisation.

BorderpassProgram : Stanford (Global Program)

50 |

Introduction : At 100% Project we seek to empower teachers to provide the best learning experience for theirstudents. We do this primarily by connectingpublic to their stories so they can raise funds fortheir classroom needs.

Competitors : Other great education NGO’s and organisations are - Teach for Malaysia, Edunation, Arus

Problems/Issues tackledby 100% Project : We support dedicated teachers to go the extra mile for the students but who cannot proceed due to budget constraints in their school or their school being from a more under privileged community. On a larger scale, we also want to a (elevate the teaching profession by raising the profile ofdedicated teachers, and b) rally the community behind our teachers and to strengthen narrative of the school being everybody’s responsibility, not just the government’s.

Challenges faced by 100% Project : Finding sustainable streams of revenue. We’re constantly experimenting with increasing scope of our offerings so we can leverage off our expanding teacher network.

100% Project Program : MAP S.E


Introduction : KATSANA is a data company focusing on usage-based insurance by way of telematics. Our prediction &gamification engine excels in understanding driverbehavior patterns, scoring drivers based on actualrisk on the road, and engage them to becomebetter drivers.

Competitors : AutomaticMetromile

Problems/Issues tackledby Katsana : It started in 2013 when a friend’s car was stolen in broad daylight at Bangsar, and my brother’s car stolen a week later in Penang. It made me do market research and discovered that Malaysia is #6 in the world when it comes to car theft, and existing solutions in the market are in dire need of innovation to keep up with latest smartphone technologies.

Challenges faced by Katsana : Being a young startup back then, it was rather hard for us to tackle the enterprise sector because established companies tend to be wary of new unproven startups. However, once we managed to capture one enterprise, others tend to follow suit. The tip is, associate yourself with industry leaders to generate credibility. Big bosses tend to trust their business buddies more than salesmen.

KatsanaProgram : MAP Asean

52 |

10OVERVIEW OF OTHERECOSYSTEMS IN 2016


* Note: Based on mindshare.

1. http://wearesocial.com/sg/blog/2016/09/digital-in-apac-20162. https://www.techinasia.com/15-top-funded-startups-singapore-infographic3. http://sbr.com.sg/sites/default/files/singaporebusinessreview/print/SBR_FebMar2016_HottestStartups.pdf

51,855USD

78companies 12companies4.70million

83%

12535companies

GDP per capita

Total Funding Rounds

Series ASeed Funding Series B

Active Internet Users

Internet Penetration Rate

Singapore Population

5.65million

15 Dec 2016

Top 3 Startups*Upcoming Startups

Types of Funding Received

Ninja VanLazada SG VaniteeRedmart Shopback SingaporeTradeGecko

4. http://www.startupranking.com/top/singapore5. Tracxn6. www.tradingeconomics.com

54 |


1. https://www.techinasia.com/indonesia-web-mobile-statistics-we-are-social2. https://www.techinasia.com/indonesia-15-best-funded-tech-ventures

3. https://www.techinasia.com/indonesia-10-funded-startups-growth4. https://www.techinasia.com/5-indonesian-startups-watch-2016

5. Tracxn6. www.tradingeconomics.com

3,834USD

88.1million

34%

GDP per capita



Indonesia Population

259.1million

15 Dec 2016


TokopediaRuangguru TravelokaKudo BukalapakeFishery by Cybreed

36 companies 6 companies

6321companies





5. Tracxn6. www.tradingeconomics.com

* Note: Based on mindshare. ** Note: figure includes access via fixed and mobile connections.

1. http://wearesocial.com/sg/blog/2016/09/digital-in-apac-20162. http://fintechnews.sg/7593/vietnam/7-hottest-fintech-startups-solutions-vietnam/ 3. https://www.techinasia.com/3-vietnamese-startups-get-funding-from-malaysia-1337-ventures

4. www.tradingeconomics.com5. Tracxn

1,685USD

49.5million

53%**

GDP per capita



Vietnam Population

93.3million

15 Dec 2016


Lozi.vnSaloneses MocaPerkfec TimoNavi

54companies 6companies

8929companies




56 |

* Note: Based on mindshare. ** Note: figure includes access via fixed and mobile connections.

1. http://wearesocial.com/sg/blog/2016/09/digital-in-apac-20162. https://www.techflier.com/2016/08/22/top-13-tech-startups-from-myanmar-you-need-to-know-about-in-2016/3. https://e27.co/meet-the-six-startups-accepted-into-myanmars-first-ever-accelerator-programme-20160908/


1,309USD

11.8million

22%**

GDP per capita



Myanmar Population

54.1million

15 Dec 2016


WisperKargo NEXRarhub BindezTechnoholic


125companies






1. http://wearesocial.com/sg/blog/2016/09/digital-in-apac-20162. http://www.bangkokpost.com/tech/local-news/796196/3. http://www.innovationiseverywhere.com/the-top-6-growing-thai-startups-curated-by-techsauce-summit-2016/


15,346USD

41.0million

0%

GDP per capita



Thailand Population

68.1million

15 Dec 2016


ClaimDiAirportels SkootarDRVR SocialGiverEverex


10925companies




58 |


1. http://wearesocial.com/sg/blog/2016/09/digital-in-apac-20162. http://www.startupranking.com/top/philippines3. http://www.dealstreetasia.com/stories/14-philippine-startups-to-watch-out-for-in-2016-25326/


6,938USD

54.0million

0%

GDP per capita



Philippines Population

101.5million

15 Dec 2016


Lazada PhilipinesPawnHero Metro DealAyannah Price PricemClinica


9511companies





11GOING

GLOBAL TIPS

60 |

“For any startup to go global, there’s two things they need to sort out. One, making sure that they have enough cash to mobilise anything they need in the new market and two, they need to have a clear business model to deploy there.”

- Ashran Dato’ Ghazi, CEO MaGIC

“The more money a startup have, the more likely thestartup could survive (going global). Especially in countries where the foreign exchange (from the original currency) is stronger. Plus, a startup should plan to go global from the get-go, as a long - term goal because sometimes incertain countries, the market is relatively smallerthan they think.” - Jonathan Lee, VP, Entrepreneurship Development, MaGIC

“Before venturing to global market, do your research for the target market there and perform your due diligence on your local team at the intended country. Make sure you get the best and the right talents who knows the ropes and quirks of the country (best to be locals). Don’t forget tohustle to gain momentum and tractions.” - Hazel Abu Samah, VP, Marketing and Communications, MaGIC

Must Have Enough Cash & ClearBusiness ModelDeployment

Money Equalsto Sustainability

Do YourDue Diligence


12EXPECTATIONS

IN 2017

62 | 1. Vulcanpost

Corporate bodies will become more involved with startups

There will be more verticalaccelerators in Malaysia

Merger & acquisition activities to increase

Equity crowdfunding tocontinue strong growth

Machine Learning, ArtificialIntelligence, and IOT tech sectors

to continue strong growth

Social enterpriseswill gain more public

awareness and recognition

Expectations in 2017 in the startup ecosystem


Move away from being a CSR driven project to a revenue

driven entity

Focus on not sustainability alone but growth as well

Focus on greater social impact than just community impact

Re-educate conventional investors to look into impact investing

Educate corporate companies to supportthese companies via conscious capitalism

(fair trade, etc.)

Social Entrepreneurship Expectations in 2017*

* Note: Applies to all socially conscious startups

64 |

Government should promote corporate entrepreneurship

awareness

Startup founders should be more innovative (i.e take heightened calculated risks & be different)

Startups within Malaysia could start looking away from

service-like business model

Decide firsthand on where to go upon validated market

(for expansion)

Government should incentivise VCs and Angel Investors to spur

more investments in Malaysia

Startups in Malaysia have great potentials to be impact driven

entreprises

VCs’ Expectations of Malaysian Startup Ecosystem

1. Malaysia’s Competitive Advantage From A VC Perspective (Echelon Penang 2017, Malaysia)


Malaysia has competitivelocation in SEA so startups

should use it

More engagement & outreach of startup ecosystem in rural areas

by the Government

Startups should engage more in the initiatives set by the

Government

Startups should considerintegrating Big Data Analytics in their

business model

Startups should not shy away from contacting VCs and Angel Investors

(We want to talk to you!)

66 |

13WHAT

THEY SAID


1. https://www.facebook.com/richardker/media_set?set=a.10155032851759009.1073741847.789539008&type=3

Sasha Tan – Founder (FAVFUL)

Syed Ahmad Fuqaha – Co-Founder (KATSANA)

Johnson Lam – Founder (KAKI DIY)

Adlin Yusman – Founder (BEMALAS)

“Uncertainty magnifies the challenge,so face it quickly, lest it outgrows you.”

“There’s no so such thing as perfection. Thus don’t wait to be perfectwhen releasing a product. Release quickly, iterate quickly.”

“You only live once. But in your lifetime, touch as many lives as you can,you will be able to live your life through them.”

“Running a startup is like being in the trenches, you need the right strategy, good lieutenants and most importantly a burning desire to win.”

68 | 1. https://www.facebook.com/richardker/media_set?set=a.10155032851759009.1073741847.789539008&type=3

Joanne Ho – Founder (HAPPY BUNCH)

Chow Yee Hoong – Founder (DAPPER&CO)

Cheryl Yeoh – Founding CEO (MaGIC)

Giden Lim – Co-Founder (BLOOMTHIS)

“Passion gets you started butperseverance takes you to the finish line.”

“Analyze by fundamentals,execute with passion.”

“Practice courage over comfort.Be comfortable with the uncomfortable.”

“Unless you stop trying, there’s no such thing as failure.Don’t make it an option.”


Jesrina Arshad – Founder (PURELYB)

Yuen Tuck Siew – Founder (JIRNEXU)

“Never ever downgrade your dreams. When you’re powered by passion, positivity and sheer determination, you can do anything and truly make a difference in people’s lives.”

“As you scale your startup you will delegate almost every responsibility except belief. You must have an unbreakable belief in your vision and insure that investors, partners, and clients share that belief in what you.”

Documents

Malaysian Startup and Social Entrepreneurship … capitals to other government driven initiatives for nurturing the startup landscape, Malaysia’s startup ecosystem is one that does