Marcus Teoh To Launch First Book “Now Or Never” On September 20th
Marcus Teoh has written his first book to encourage budding entrepreneurs to start their own business venture for just RM199, and is inviting fans and influencers to be a part of the exclusive private launch. This book provides answers to the question, “How to Start a Business with limited budget?”
Petaling Jaya, Malaysia, September 19, 2017 /PRWIRE.asia/ -- Serial entrepreneur and business consultant Marcus Teoh will launch the publication of his first book, “Now or Never”, on September 20th at the Feruni Tiling Academy, in Petaling Jaya, Malaysia. The book launch will include fans and influencers from the world of Southeast Asian entrepreneurship. Published by Kanyin, the book will offer first-time entrepreneurs untold real-life lessons, tools, and knowledge they need to launch a business with just RM199.
The book will help people understand the ins and outs of running a business, execute and duplicate proven, purpose-designed business strategies that don’t require a huge budget, and benefit from valuable lessons learned in real life scenarios, shared by popular Malaysian entrepreneurs.
The event will reveal the book’s cover design and the thought process behind it. Marcus will read excerpts from the book and share his philosophy on entrepreneurship as a path to self-liberation in three aspects: finance, time, and locality.
The book aims to be a celebration of the true nature of entrepreneurship, and in that spirit, Marcus will also discuss his own failures and setbacks on the route to becoming an inspiring speaker and business consultant.
A spokesperson for Marcus Teoh explained, “Being an entrepreneur is tough. This book was written after all the hardship that I had to go through as a full-time entrepreneur. What the media portray, the celebration of a successful entrepreneur is just the tip of the iceberg. I wanted to write this book to inspire new entrepreneurs to start a business the safe way, with only RM199. Take it a step at a time and grow from there. The launch event will allow me to highlight the content and themes of the book, while answering questions from budding entrepreneurs. I look forward to helping more people than ever through this book.”
About Marcus Teoh: Marcus Teoh hails from Malaysia. Entrepreneurship was his passion, and after transforming multiple business ideas into fully-fledged businesses, he realized his true calling was in teaching. Today, he speaks to, consults and trains aspiring Entrepreneurs and Start-Ups, as well as gives Motivational Talks, Facebook Marketing Training, and sharing practical takeaways from his own experience and lessons. For more information please visit: http://www.marcusteoh.com
PRWire Asia to speak on content outreach at BizAngel Entrepreneur Sharing in Penang, Malaysia
PRWIRE Asia’s director LIN Yi Yun will discuss the importance of timely content outreach for corporations to establish consistent brand & investor communication.
Penang, Malaysia, September 12, 2017 /PRWIRE.asia/ -- Lin Yi Yun from PRWire Asia will be attending the BizAngel Entrepreneur Sharing event on the 13th September 2017 at the Wealth Mastery Academy, Penang. The event was inaugurated last year by the organiser, Biz Angel. Since then they have organized over 10 sharing sessions, with more than 35 entrepreneurs sharing their businesses’ stories, benefiting more than 300 attendees. Lin will be emphasizing the benefits and importance of content marketing to businesses.
Lin’s talk will describe in detail the importance of content marketing, and content outreach through PR distribution. The talk will include a significant outline, including evidence demonstrating that content marketing costs 62% less than outbound marketing, while generating more than three times as many leads.
The event will take place 2pm-5pm, with registration at 1.30pm. The event will feature other entrepreneurs giving talks, including Mr. TK CHUAH from BoostOrder, Mr. Joseph TOH from Tourders and Dr. Yong Jen TAN from Idealite. “We are looking forward to meet the other entrepreneurs and to learn from them. BizAngel Entrepreneur Sharing series is a well known event among us entrepreneurs for meeting business buddies and even potential partners. The synergies created within the Biz Angel Network are invaluable for the growth of businesses within the network.” said Lin.
Content outreach is an essential part of any brand’s PR strategy, and using press release distribution can maximize the impact of new business developments to drive traffic and gain exposure.
Through press release distribution, business can gain brand mentions from the reputable media, which elevate their brand visibility and reputation. Press releases can help businesses achieve a higher level of authority and influence. With first page mentions on search engines, this can help to impress both customers and potential investors.
Lin Yi Yun himself elaborated, “We are honored to be one of the speakers at this amazing event. We hope to share the benefit and importance of content outreach with the entrepreneurial community and SMEs throughout Malaysia. Our emphasis will be on how businesses can reap the benefits from this approach. Many are not aware that through content marketing & outreach, they can drive toward a six times higher conversion rate than their competitors. We will describe the research that informs this, and exactly how people can execute a content outreach strategy for their own business.”
About Biz Angel: BizAngel.co is a Business Angel Network accredited by the Malaysian Business Angel Network (MBAN), the official trade association and governing body for angel investors and angel clubs in Malaysia. They strive to bring entrepreneurs and investors into Asia to fuel the burgeoning startup ecosystem. For more information: https://bizangel.co/
CO3, Probably South East Asia’s Coolest Office Launched in Malaysia
Selangor, Malaysia, July 28, 2017 /PRWIRE.asia/ -- Malaysia based co-working space startup CO3 Social Office officially launched their first office location in Puchong, Malaysia today. The opening of the Puchong office marks the completion of the first out of five offices the company had planned.
Early this year, the startup revealed their ideology in Connexion at Nexus, Bangsar South. During the 1,500 people event, the team from CO3 presented their plan to deliver the “coolest office in Malaysia” by June 2017. In the same event, they had also announced the plan to open 5 offices in 12 months.
“We have said it, now we have done it”, said Yong Chen Hui, Founder & CEO of CO3 Social Office. “The journey wasn’t easy but our aspiration took us here.”
“We have said it, now we have done it”, said Yong, CEO of CO3
In celebration of the first workspace opening, the team organised a weeklong celebration including two housewarmings, a grand opening ceremony, and an exclusive social gathering with Bruneian artist Goh Kiat Chun or better known as Wu Chun. Now a full-time entrepreneur, the ex-singer Wu Chun is the non-executive director of the newly launched co-working space. As part of the weeklong celebration, the 44-year-old entrepreneur shared his rich experiences in entrepreneurship with a group of young influencers.
Wu Zun, one of CO3 co-founders having a sharing session with Malaysia's top social media influencers
When asked about the differentiating factors that set CO3 apart from the existing co-working offices in the region, Yong brought up an interesting point. The “heartware” he said. He explained that besides the hardware (the facilities) and the software (the mentor supports and business networks) which almost every co-working office provides, CO3 social office is promoting an intangible spirit called the “heartware”.
It’s made up of 3 key elements namely freedom, dignity, and trust. “We allow ideas to travel freely within this space, we promote the concept of same rank where everyone has their own space, and we want to build trust within the members,” he added.
The spirit of CO3 is to allow free travel of ideas between the members
Further embodying the spirit of “heartware”, this co-working space allows flexible leasing for as short as a month and an adopted honor system for the food and beverages in the workspace. Additionally, all the net proceeds from the honor system will be donated to charitable causes.
Built upon CO3’s honor system, members pay for their food and beverages without any supervision.
With millennials slowly taking over the workforce, talent attraction and retention is more challenging than ever. Hence the company is confident that augmenting the importance of human-centric “heartware” will be an alternative solution to talent retention.
Yong giving a speech on the importance of "Heartware".
CO3 Social Office also positioned itself as a unique concept that can be implemented in existing corporate environments and real-estate locations, improving their appeal to the new generation of white collar professionals, on top of optimising the utilisation of their existing assets.
Jeff Ong, Executive Director of CO3 explained that many offices have unutilised real estates like meeting rooms or under-utilised real estates like manager rooms. Co-working space helps companies to turn these real estate cost into revenue.
CO3 maximizes the value of real estates by having shared meeting rooms, brainstorm area, and other facilities among the members.
On the day of the launch, Yong also revealed that the 22,000 sq feet working space has achieved more than 80% occupancy, with 200 members from various professions including the legal, corporate secretary, production house, event, media, and tech startup industries. CO3 Social Office is not just the coolest office in Malaysia, but it’s also the largest of its kind in the region. Believing in the concept of constant growth, the team had planned to outdo their current accomplishment. Yong stated that this first office is built to prove the concept of co-working area in Malaysia. Ready to achieve their next goal, they are eyeing their second location which will take up 80,000 sq feet in a 5 storey building. The location is 4 times larger than its predecessor and is said to be along Jalan Semangat. When asked about the remaining 3 locations, Yong explained that scouting process is ongoing. Though the exact locations are not finalised, the team is looking to complete these locations by Q2 2018.
More shots of CO3 Social Office:
A bright red plane in the middle of the office to usher the members TO FLY.
CO3 comes with an assortment of entertainment & relaxation facilites.
No short of good foods & beverages in the premise.
For more information, please visit http://co3.co
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A special report by PRWIRE Asia.
Havson Group Puts VR On The SEA Map With Funding From 500 Startups
Kuala Lumpur, Malaysia, June 22, 2017 /PRWIRE.asia/ -- VR entertainment technology startup Havson Group has closed funding from Silicon Valley-based venture capital seed fund and accelerator, 500 Startups. Producing unique VR content and using advanced VR technology that solves problems of motion sickness and latency, Havson Group has recognised the booming virtual reality industry in Southeast Asia and generated early interest from global players.
Pioneering the introduction of VR in the region, Havson Group recently launched EXA Outpost, a first of its kind hyper-reality development studio based in Kuala Lumpur, Malaysia, where players leave reality behind and immerse themselves in a first-person experience that puts players in the middle of a dimension exploration.
EXA Outpost 1 located at SetiaWalk Puchong
EXA Outpost: Mission Room
EXA Outpost: Angkas Zone
Backed by a team that has deep-seated knowledge of the industry, Havson Group has been no stranger to the world of gaming. Starting off as Mediasoft, the team has developed some of the top mobile games in the world including the badminton game Jump Smash and the world’s first sepak takraw game Roll Spike that saw more than 10 million downloads.
The founders of Havson Group of companies (Left) Rayson Wong; (Right) Havene Liew
Cementing its track record to date, Havson Group participated and subsequently won the Alibaba CACSC competition held in Singapore in August 2016 emerging as a Champion against 12 other startups from the region. And becomes Merit winner of global final in Hangzhou, China. Havson Group’s unique advantage comes from its VR solution enabling players to move freely in a large space without motion sickness.
Havson Group – Champion of Singapore Division, CACSC 2016
“Through the Alibaba CACSC competition, we managed to prove to the world that we are an emerging global tech company solving real gaming problems.” said Kee Saik Meng, Founding Partner of Havson Group.
Havson Group – Merit Winner of Global Final, CACSC 2016
Havson Group was also the first Malaysian startup showcasing their VR content at the Silicon Valley VR Expo in San Jose.
Even though well known on the international gaming scene, the problems Havson Group sought to address with their tech solutions were more regional. Bringing the VR industry to Southeast Asia, Havson Group saw its many advantages for the market including drawing traffic to dying malls.
“Our VR Parks provides a solution for mall operators wanting to attract footfall, especially from millennials, and provides a gaming experience unlike any other VR multiplayer has done.” said Havene Liew, Founder of Havson Group.
A burning passion for improving and growing the Malaysian games industry drove former film director and game design lecturer Havene to initially kickstart Mediasoft Entertainment in 2012 together with another founder Rayson Wong. During his time as a lecturer, Havene saw numerous young talented individuals leaving the country to seek opportunities overseas or quit the gaming industry altogether due to a lack of opportunities.
Taking matters into their own hands, Havene and Rayson wanted to create those very opportunities, develop those talents and contribute back to the local gaming ecosystem. This passion for talent development saw Mediasoft winning the best employer award in 2015 awarded by KWSP Malaysia.
No stranger to virtual worlds, Kee who has extensive experience in film and games, elaborates on Havson’s insights, “We see this market growing very rapidly in the next few quarters. Besides the growing consumer demand for richer VR experience via malls, we see Hollywood studios and big game companies with IPs entering this space, and, naturally, they are looking for strategic partners to work with.”
This market demand sees Havson Group joining other major competitive players around the world in capturing the global market share. These competitors include The Void, a Hyper-Reality experience gaming centre based in Utah, New York and Dubai. Zero Latency is another immersive VR studio based in Melbourne, Australia which received a total of USD9.5M to date in seed and venture funding from Carthona Capital.
Other players include Dreamscape Immersive which plans to open a VR Multiplex in Los Angeles later this year. Dreamscape has raised USD11M in funding in a round led by Bold Capital. Imax too, has said it plans to open six VR centers in partnership with AMC Theaters and Regal Entertainment, and additional centers planned for Britain and China as well as projects in Japan, the Middle East and Western Europe.
With competition mounting globally in the US, Australia and other parts of Asia, Havson Group’s years of gaming experience and understanding of the Southeast Asian and other regional markets is what they see as their first movers competitive edge.
Others have seen it too with demands for partnerships increasing. Havson Group has already signed partnerships in Pakistan and ShenZhen, China and are currently in discussion with numerous major theme parks and resorts across the region. With interest in VR mounting, Havson Group plans to cement its hold within the region, ahead of the competition.
Managing Partner of 500 Startups, Khailee Ng said that investing in Havson Group was not only in line with their goal to recognize promising startups in Southeast Asia and assist them in growing on a global level, Khailee injects that Havson Group is one of the corporations that has the potential of fast pace growth with the help of technology.
“Having invested in 1,700 Startups in over 60 countries, we’ve built an international platform for startups like Havson to rapidly enter multiple markets at speed. Their business model involves malls paying upfront for rollouts, and generates ongoing profit share. It’s a very capital efficient way to build a global business. Just the kind of business we like!” said Khailee.
With future plans involving Southeast Asia, China and the US, Havson Group of companies is strongly focused on the booming VR market.
“We have the right talented individuals who are brave for new challenges, we can have the right technology along with the skilled software to create a product on par, we have the resources that can push us far, it is undeniable that Havson has the track record that can create another new height,” added Rayson Wong, Founding Partner of Havson Group.
About Havson Group: Havson Group builds VR contents and provides VR tech solutions to FEC, theme parks and shopping malls.
Suit Up, Experience The Game Changer Of Hyper-Reality Entertainment
Puchong, Selangor, Malaysia, June 02, 2017 /PRWIRE.asia/ -- Gear up, ladies and gentlemen! EXA GLOBAL – under the umbrella of digital entertainment and technology company Havson Group – is urgently recruiting soldiers for an immediate search and rescue mission of their fellow comrades missing in action while on an exploration to a foreign dimension, and they were hailing all new recruits to gather at the latest hyper-reality Family Entertainment Center (FEC) at SetiaWalk’s EXA Outpost, to be “transported” and save their comrades from danger at their recent launch.
The latest disruptive FEC to invade the gaming scene in Malaysia, EXA Outpost at SetiaWalk is a first-person, hyper-reality immersive experience that puts players right smack dab in the middle of a dimension exploration. EXA Outpost brags the rights to be the first of its kind in Southeast Asia, being a quality full-service Hyper-Reality–FECs (Family Entertainment Centers) that will command the approval of the predominantly Malaysian community which it serve.
Mr. Richard Lee, CEO of EXA Global said that engagement is the core to every project being designed by the team – to get their players involved in the technology, to be a part of the story, and experience the game together as a team.
“EXA Outpost is a project of exploration; we invite friends and family to explore, to engage, to defend and return home with an experience where they can share with one another. The moment they book their tickets, we want them to experience the story together as a team,” said Mr. Lee during the launch of EXA Outpost recently.
“Getting the right module, enhancing the formula, experience and content are key components when creating and building an immersive advanced technology to have people sharing their hyper-reality experience with others. Being that part of the story for our players is important to us, as we know experience is something very valuable we at EXA Global can offer.”
A mixture of both physical and hyper-reality attractions that holds a fully immersive, wireless free roaming concept, the gaming content of EXA Outpost are created and developed solely by EXA Global themselves. A Sci-fi shooting game involving multi-players of four in a closed room, troopers will firstly be placed in EXA Outpost’s Ingress room for a briefing on their mission and safety conditions, where they will be suited up with the EXA Gear – player-wearable technology consisting of backpacks, guns, headset, batteries and charging system.
Players will then experience the real highlight of the dimension exploration along with the outer space atmosphere through their ANGKAS system, providing troopers with a more surreal and breathtaking experience. Players will immerse themselves in a surreal movie-like graphic story of being trained as new recruits equivalent to Starship Troopers in a graphically-enhanced Mission Room, receiving orders from a certain Commander Rick and dispatched to explore a foreign dimensional space that will leave players in awe and admire the ‘reality’ of an unexplored realm. Players are instructed to navigate the deep caves of the dimension and investigate the area, encouraging them to explore, engage and experience the whole story and the surreal atmosphere they are transported into, and work together as a team to conquer their mission when encountering large and vicious alien-like monsters.
Mr. Lee emphasized that its innovative facilities will have a positive impact within the Family Entertainment Centers both in Malaysia and on a global scale – having fully analysed and researched the market to effusively enhance the augmented reality solution for both gamers and non-gamers. He went on to add that there are more enhancements and developments to be made to allow their players visiting EXA Outpost have the full immersive experience in letting them feel what EXA Global wants them to feel.
“As part of the creative and innovative pioneer in digital entertainment and technology Havson Group, between ourselves we created the ultimate immersive Hyper-Reality Studio experience within this region.
“With great minds combined, we successfully developed a unique and distinctive system of high quality Hyper-Reality Entertainment Centers and create an exceptional yet incredible experience bringing hyper-reality to a new height,” said Mr. Lee.
Mr. Lee added that Team Building and Communication have always been the pillars embedded in EXA Global’s hyper-reality projects, as they truly believe that hyper-reality can bring people together and providing them that opportunity to let themselves go and immerse in communication to achieve a goal together.
“At EXA Outpost, the “wow” factor is something we want to evoke in people, as the stories we tell and the experience we give, is what each and every person will be bringing home and return for more, as such experience is always crucial in every project we do,” said Mr. Lee.
EXA Outpost also consists of two rooms: dedicated to the games and a Hyper-Reality Arcade Entertainment Centre where patrons can play VR arcade games.
For more information on how to book a session with EXA Outpost at SetiaWalk or the mission of Dimension 12, please visit www.exa-global.com, or follow us on www.facebook.com/EXAGlobal/.
Official Partners:
For further information kindly contact:
Eunice Wong, Senior Brand Manager
Mobile: +6012 2877 368 / 03 7865 7932
Email: eunice@slpr.com.my
Wantha Anatasya, Brand Executive
Mobile: +6018 2968 119 / 03 7865 7932
Email: wantha@slpr.com.my
Southeast Asia: The Next Major Market in Asia for Founders and Investors
When Garena, Southeast Asia’s most valuable startup picked Goldman Sachs Group Inc. to lead a planned initial public offering in the United States, it made an optimistic statement about the future of startups in Southeast Asia. The initial public offering, if completed, would record the...
April 27, 2017 /PRWIRE.asia/ -- When Garena, Southeast Asia’s most valuable startup picked Goldman Sachs Group Inc. to lead a planned initial public offering in the United States, it made an optimistic statement about the future of startups in Southeast Asia. The initial public offering, if completed, would record the largest share of IPO proceeds from Southeast Asia at US$3.75 billion.
“This is an extremely significant deal,” said Vishal Harnal, a partner at 500 Startups in Singapore. “Once you have a success story coming out of the region, it becomes easier for others to emulate. An IPO of this magnitude will galvanize and serve as a beacon to all the startups in Southeast Asia.”
Founded in 2008 by Forrest Li, Garena is a Singaporean unicorn currently valued at US$3.75 billion.
SEA – the Next Rising Star in Asia
Like China a decade ago, Southeast Asia is now an emerging market on the verge of something big. The region has raked in a cumulative funding of US$2.6 billion in 2016, increasing over 60 percent from its previous year of US$1.6 billion. It has even been touted as the most attractive emerging market for private equity investment in Asia, according to Global Lead Insights.
“Southeast Asia for the next 10 years is going to be one of the most exciting regions to invest in. If you think about it, it’s kind of situated between the two giants – China and India – and then if you look at it – Silicon Valley companies who missed out on China and India are looking at where are the last big markets that are left. And Southeast Asia it is,” said Thomas Tsao, the Founding Partner of Malaysia-headquartered Gobi Partners.
But it is not just the market opportunities that have drawn entrepreneurs from around the globe to places like Singapore, Thailand or Malaysia.
The Catalyst to The Rise of SEA
There is a host of factors contributing to the surge of interests in startups outside the established hotbeds for technology and innovation. Southeast Asia’s growing digital connectivity for one, has made the population addressable. With over 300 million smartphone users in the region as compared to the United States which has only 225 million – this brings about a greater consumer demand and purchasing power.
On the other hand, business-friendly initiatives have also further supported the investments in Southeast Asia. For example, the Malaysian government runs Malaysian Global Innovation and Creativity Centre (MaGic), a startup entrepreneurship program that has provided many benefits for startups to find fertile ground in Malaysia.
Programs to help startups like the MaGIC Accelerator Program is readily available across many SEA countries.
Most importantly, the market in Southeast Asia has a lesser competition intensity for startup founders and investors alike which provide a rational entry valuation.
Even Timor-Leste, a country located beneath Indonesia (for those who have never heard of the country) has a proportionately large number of startups despite having the requirements for entrepreneurs to deposit 260 percent of their average income in a bank. This is considerably a huge amount of capital to raise up front in comparison to the global average amount which is just 9 percent.
Non-SEA Investors Dominates Market Sphere
Statistics have also shown that non-Southeast Asia investors are dominating the SEA market sphere. As the region has drawn attention from neighboring countries including Japan, China, and India as well as accumulating substantial capital from major global venture capital firms like Northstar, IMJ and Sequoia Capital.
500 Startups, a United States-based venture capital firm, is also heavily involved in Southeast Asia – having helped startups work on specific growth goals. Just last year, it added another US$50 million into 500 Durians, a micro-fund focused on investing Southeast Asian startups. Its active involvement has even made it SEA’s most active early stage investor.
Another notable investor interested in the region is Jack Ma, extending his influence in the region as he acquired Malaysia’s eCommerce platform Lazada in April 2016 for a total US$1 billion. For Alibaba, this is a big wager on the region as the enterprise competes against Amazon to dominate the eCommerce sphere.
Besides, the Chinese mogul has also been very active in the region’s political scene, associating with the head of states from Thailand, Singapore, and Indonesia, in addition to becoming the economic advisor for Malaysia. The same goes for the Chinese government as it invests heavily in Cambodia, Laos, and Myanmar to transform them into bigger destinations for export.
Alibaba founder, Jack Ma has agreed to act as an advisor to the Malaysian Government on its digital economy
This is an interesting moment in time for Southeast Asia. It is essentially because investors are now realizing that Southeast Asia is the only large market left to grow.
Amidst the positive outlook, ASEAN own startups which are valued at more than US$1 billion, from ride-hailing leader Grab to e-commerce operator Tokopedia, are also coming to age. With this, it is only expected that Southeast Asia’s entrepreneurial ecosystem will receive a tremendous boost in the near future.
And Garena’s IPO is just the beginning.
Contact Information:
Name: VCNewsNetwork
Organization: VCNewsNetwork
Website: http://www.vcnewsnetwork.com/
Email: info@vcnewsnetwork.com
CRADLE ANNOUNCES NEW INVESTMENT PRODUCT TO AUGMENT SUPPORT FOR MALAYSIAN TECH START-UPS’ GROWTH
Cradle Fund Sdn Bhd (Cradle) the early stage start-up influencer, today announced its new investment product called DEQ800, following its investment portfolio expansion effective February 2017. DEQ800 is the abbreviation for Direct Equity 800, a form of equity investment that offers capital injection of between...
KUALA LUMPUR, MALAYSIA, April 27, 2017 /PRWIRE.asia/ -- Cradle Fund Sdn Bhd (Cradle) the early stage start-up influencer, today announced its new investment product called DEQ800, following its investment portfolio expansion effective February 2017. DEQ800 is the abbreviation for Direct Equity 800, a form of equity investment that offers capital injection of between RM 300,000 to RM 800,000 for local early stage tech start-ups.
DEQ800 comes as the next phase of product offering after Cradle’s co-investment programme that was first introduced in 2014. The launch marks Cradle’s new direction in supporting tech start-ups, particularly those at early stage.
According to Nazrin Hassan, Group CEO of Cradle, the new direction is in line with the government’s intent to wean the market off grants in funding early stage start-up noting that half of Cradle’s total allocation in 2017 given by the Ministry of Finance, is in the form of equity funding as the agency gradually evolves from its grant funding model to equity investment model.
He further viewed the new direction and launch of DEQ800 as a testament to Cradle’s continuous commitment to fund start-ups with strong growth potential and elevate Malaysian start-up ecosystem to greater heights.
‘‘The launch of our new product clearly demonstrates our relentless passion and tenacity to build great Malaysian start-ups and fortify the nation’s start-up ecosystem, ultimately. We believe DEQ800 will serve as a crisp avenue for start-ups with clear growth and good exit potentials at pre-seed and seed stages to raise capital for their businesses and help achieve these objectives,’’ he said.
Focused investment sectors under this initiative include areas within the National Key Economic Areas (NKEA) such as Financial Services; Tourism; Business Service; Electrical & Electronics; Wholesale and Retail; Education; Healthcare; Communications Content and Infrastructure; Oil, Gas and Energy; and Agriculture. In addition, Cradle shall also include ICT and Non-ICT sectors under its radar.
Meanwhile, targeted and potential investee companies are start-ups with tech-based products or services.
Nazrin later shared that Cradle’s DEQ800 brings more value to the table than capital injection alone.
“Our strong entrepreneurial heritage and extensive experience in pre-seed and seed stages will give us the upper hand in catering to the start-ups’ needs for growth. Rather than just putting money in their ventures, the product, through various subject matter experts, will help build them through various value-added services such as in the areas of mentoring, commercialisation support and many others,’’ he explained.
Additionally, Nazrin said having the access to ecosystem players is also amongst the key benefits start-ups get to enjoy when they receive investment under DEQ800.
He added, ‘‘one major advantage of getting seed funded by Cradle is that our start-ups can look forward to leverage our ecosystem of diversified investor groups which can add value to their knowledge and experience as they strive to scale beyond their home market.’’
With regard to the product outcome, Nazrin hoped that DEQ800 could serve as an alternative to stimulate the growth of high-potential Malaysian tech start-ups and make the early stage funding ecosystem in Malaysia, more robust, albeit the current economic downturn and government’s stance on reducing dependence on grants.
Additionally, he wished to look forward to the day where DEQ800 could close the funding gap in the nation’s seed stage where there are very few players that invest below RM 800,000.
On a strategic side, Cradle plans to invest in up to 10 start-ups under direct equity and close 3 co-investment deals in 2017.
Prior to this, Cradle’s equity investment was practised via one-to-one partnership. However, following the portfolio expansion, the co-investment initiative will see a significant change with the introduction of two-to-one ratio. This means Cradle will double every matching contribution with its partners on their co-investment deals.
In relation to this, the ticket size for co-investment also sees a little rise to RM 800,000 from RM 500,000 from previous years.
About Cradle:
Cradle Fund Sdn Bhd (Cradle), an agency under the Ministry of Finance Malaysia (MOF) is the organisation that manages the Cradle Investment Programme. The MOF had allocated RM100 million to Cradle for this programme since it began in 2003.
The agency was awarded with an additional allocation of RM175 million for the 2011-2015 period, under the 10th Malaysia Plan. Cradle now runs the Coach and Grow Programme (CGP), a market-driven programme to train entrepreneurs and also administers the Angel Tax Incentive, which was designed for angel investors to be accorded a tax deduction of up to RM500,000.
The organisation has been expanding its capacity by venturing in co-investment partnership. Since its inception, Cradle has helped over 700 Malaysian tech start-ups and holds the highest commercialisation rate amongst government grants in the country.
Cradle Seed Ventures (CSV) is a subsidiary of the venture capital arm of Cradle Fund Sdn Bhd focusing on early stage venture fund based out of Malaysia. CSV has added strength of being able to leverage Cradle’s experience in supporting early-stage start-ups, understanding their funding and operational needs and also be by their side when they scale in their local Malaysian market and to foreign shores.
For more information on Cradle, please visit www.cradle.com.my
For media queries relating to Cradle’s DEQ800, please contact Ashraff Taharim at 019-278 9760 or email ashraff@cradle.com.my
Contact Information:
Name: Cradle Fund Sdn Bhd (Cradle)
Organization: Cradle Fund Sdn Bhd (Cradle)
Website: http://cradle.com.my
Email: info@cradle.com.my
Malaysian Cradle Fund unveils DEQ800 to diversify investment strategy for a maturing startup ecosystem
Malaysian early-stage tech startup catalyst Cradle Fund Sdn Bhd has announced the launch of a new investment product known as Direct Equity 800 (DEQ800) which follows an investment portfolio expansion effective February 2017. This equity investment initiative indicates a gradual shift in the firm's investment...
April 27, 2017 /PRWIRE.asia/ -- Malaysian early-stage tech startup catalyst Cradle Fund Sdn Bhd has announced the launch of a new investment product known as Direct Equity 800 (DEQ800) which follows an investment portfolio expansion effective February 2017. This equity investment initiative indicates a gradual shift in the firm’s investment strategy from grant funding model to equity investments model.
With a total funding size close to RM11 million (about US$2.47 million), Cradle plans to close 13 deals by June 2017 – investing in 10 startups via direct equities as well as co-investing in 3 startups, each writing cheques between RM300,000 to RM800,000. For the co-investment exercise, Cradle will be introducing a 2:1 ratio, whereby if one of their investment partners invests RM200,000, Cradle will invest RM400,000, doubling the matching contributions for every ringgit invested, up to a limit of RM800,000.
While Cradle has been mainly focused on tech and innovation startups, Juliana Jan, Cradle’s chief investment officer clarifies that “Cradle is not focusing on any one tech area but rather wants to provide support to areas that have good growth potential.”
Looking at DEQ800, the focused investment sectors under this initiative include areas within Malaysia’s National Key Economic Areas (NKEA) including areas of financial services, tourism, business service, electrical and electronics, wholesale and retail, education, healthcare, communications content and infrastructure, oil, gas and energy, agriculture, information and communications technology (ICT) and non-ICT sectors.
For startups interested in DEQ800, Cradle judges a startup eligibility on several criteria including:
– being a startup incorporated in Malaysia with at least 51 percent owned by Malaysian shareholders;
– ownership of all intellectual property rights, titles and interests relating to prototype, products and/or services for the purpose of commercialisation;
– an operation timeline less than five years, in addition to a total revenue of not more than MYR5 million.
Speaking on the initiative, Cradle’s CEO Nazrin Hassan is ascertained that this is the perfect time for the shift to direct equity investment as local startup ecosystem has significantly evolved and mature throughout the decade. Then again, Hassan adds, “Government- and Cradle-backed prototype grants will always be available as there is always a need for that type of risk taking, but startups still need to learn how to get private investments or they will continue relying on grants.”
Established in 2003, Cradle is a non-profit organisation under the Malaysian Ministry of Finance that manages Cradle Investment programmes. It has filled a funding gap in the area of developing ideas through its CIP150 programme, that helps develop ideas into prototypes as well as its CIP500 programme, that helps to move on to funding for prototype-to-market. The company, since its inception, has also supported more than 700 Malaysian tech start-ups, holding the highest commercialisation rate among government grants in the country.
With the introduction of its new programme, Cradle looks forward to assisting more Malaysian startups by providing them with equity investment, mentorship, as well as help in connecting them with other venture capitals and investors. Companies invested by Cradle, especially those that are looking to go global can look forward to more support and growth guidances via Cradle’s experience and network.
By Vivian Foo, VCNewsNetwork
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Japanese Xtreme Design raises pre-Series A worth US$620k led by Freebit Investment
Japanese Xtreme Design raises its pre-Series A round worth US$620k to go beyond virtual supercomputer on-demand through UI/UX enhancement.
April 27, 2017 /PRWIRE.asia/ -- Xtreme Design, a Tokyo-based startup providing the cloud-based virtual supercomputing-on-demand service known as Xtreme DNA, has on Tuesday announced that it has fundraised 70 million yen (about US$620,000) in its pre-Series A round.
The round was led by Freebit Investment and individual investors which include the former Vice President of Japanese mobile game developer Colopl, Kotaro Chiba and the CEO of Takamatsu-Kotohira Electric Railway, Yasumasa Manabe.
With this funding round, it is said that there would be a probable business synergy between Xtreme Design and Freebit, the parent company of Freebit Investment which businesses involves the provision of Infrastructure as a Service (IaaS).
This financing round also follows the round conducted last January and March by the firm’s founders and angel investors worth 30 million yen (about US$260,000).
Founded in February 2015, Xtreme Design is a platform development company for the democratization of supercomputing. In November 2016, the startup has presented its flagship product Xtreme DNA at the global supercomputer conference SuperComputing 2016.
Xtreme DNA is an unmanned service of operations which is capable of monitoring the dynamic changes of configuration in order for an effective system utilization of supercomputers through the deployment of virtual supercomputers on the cloud.
It is available for Microsoft Azure, supporting InfiniBand as well as applicable on AWS (Amazon Web Service). According to CEO Naoki Shibata, the functions of Xtreme DNA have been attracting a lot of attention as IaaS from enterprise users.
Despite Xtreme Design focus on back-end technologies, it appears to be switching gears for the next stage, releasing “Xtreme DNA 2.0.” in which Shibata explains is an attempt to supplement the visualization with well-designed UI/UX to Xtreme DNA.
“We plan to develop our service to be used not only in genome or simulation analysis but also in various fields such as IoT, image analysis or stock price prediction in fintech. The purpose of UI/UX implementation is to make it easier to be used by a wide range of users,” said Shibata.
Although a few startups in the United States also provide seemingly competitive services, Shibata expects that Xtreme Design can win out if a good product with UI/UX can be offered.
With a vision to dominate the global market, the brand-new Xtreme DNA is scheduled to be exhibited at the SXSW Trade Show which will be held in Austin, Texas on March 10th.
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Japanese Investment Firm NSSK Sets Up US$300 Million Second Investment Fund – NSSK II
Nippon Sangyo Suishin Kiko (NSSK) has raised US$300 million for its second investment fund which has received commitments from North American and European investors, as well as new Japanese LPs.
April 27, 2017 /PRWIRE.asia/ -- Tokyo-based NSSK, who calls itself a new source of strength for Japan’s regional economy, has raised US$300 million for its secund fund NSSK II (Intl) Investment, according to a report in Private Equity International citing sources.
While the first NSSK fund was entirely raised from Japanese investors, this second investment vehicle has instead received commitments from North American and European investors, as well as new Japanese LPs.
The fund however, is still primarily yen-denominated, and has a target size of 63 billion yen (US$539 million) according to a SEC filing in September 2016. The new fund will be used to back retail, consumer, healthcare and hospitality companies in Japan, supporting them for global expansion.
NSSK, which is short for Nippon Sangyo Suishin Kiko is an alternative-investment firm led by the former private equity company TPG Capital’s Japan head – Jun Tsusaka, who now plays the role of Managing Partner and Chief Executive Officer at NSSK.
Other founders of the firm also include Kaz Tokuyama, a former Merrill Lynch Japan Securities Co. banker, and Nobuhiko Ito, who was previously the CEO of General Electric Co.’s Japan operations.
Founded in September 2014, NSSK focuses on proprietary investments in regionally-focused firms and private companies with succession issues. Its investment strategy is to generate superior returns by applying global investment discipline, operating expertise and human capital to the attractive SME market in Japan.
The investment firm had its first investment in December 2014 when it agreed to pay an undisclosed sum for 70 percent of Mie-prefecture based US.Mart Corporation, a developer of amusement facilities.
Recently, the investment firm has acquired SC Holdings Co Ltd, a leading operator of nursing homes and assisted-living facilities for seniors with a primary presence in the Greater Kanto area of Japan.
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