ScaleUp Malaysia, which launched on 1 October 2019 has announced that they have selected 20 companies to be part of Round 1 of their inaugural Cohort. These companies have gone through a rigorous qualification process and have been selected based on very stringent evaluation standards.
Andre Sequerah, Managing Partner of ScaleUp Malaysia says, “It was a tough choice for the ScaleUp team to make but at the end, it was a combination of innovative business models, sizeable markets and strong founders that drove our final decision.”
These companies are: Huddle, a platform for everyday athletes to book sporting experiences from across ASEAN ATX, A pioneering digital payments service provider with 8 years of track record Auto Craver, a cloud-based management software for car dealers to automate processes Batik Boutique, a premier Malaysian gift brand with an artisanal story of creating social impact. Camp5, Asia’s premier rock climbing gym Everpeaks, a duty free global distribution hub Futurelab, a mentorship platform to help develop tomorrow’s executives Carpit, tyre servicing platform for today’s mobile user GOLOG, an on demand cold chain logistics platform Iimmpact, a mobile platform that’s revolutionising mobile top ups and bill payments Kwikcar, a peer to peer car sharing platform MyAone, a platform for learning centres to acquire students, systemise end-to-end operations, and automate payment collections getBiiB, a community platform for runners that serves a global audience Truck Trader, a logistics management platform for the commercial vehicle industry SecondCRM, a CRM solutions provider for small and medium businesses Tripcarte, a distribution platform for travel activity and attraction tickets Wowintro, an online video interviewing software that enables employers to screen talents in minutes Yellow Porter, a cross border eCommerce enabler Sentuh, a wellness on demand platform that connects users to certified mobile wellness therapists Whimsigirl, a direct to consumer fashion brand for everyday girls Sequerah also highlights the diversity of the cohort, which also features several non-digital native companies, ”We are also really excited to work with companies who come from very varied backgrounds – from consumer technologies to software to retail and wellness.”
One of the prerequisites of participation in ScaleUp was that the companies need to have proven revenue models. These companies, while at different stages of maturity have generated a collective GMV of over RM400 million in the last two years and ScaleUp aims to take them further as they progress in their program. Tay Shan Li, Managing Partner of ScaleUp Malaysia looks forward to the journey ahead with these companies, ” Over the next few months, we will be working with the 20 companies on their business models and growth plans. We will focus on key aspects of building a scalable business – from technology, HR and marketing to product development and finance.”
At the end of Round 1 in Q1 2020, ScaleUp Malaysia would have selected 10 companies to receive and investment of RM200,000 and will then work with those 10 companies to fine-tune their pitch to meet strategic investors and partners.
Before making its selection, the cohort will have a combination of focussed classroom style sessions with industry professionals that cover core competencies of running a successful scaleup and work with dedicated coaches who will help each company with their specific challenges. ”It is our intention that even if the companies do not make it through to the investment round, that they would have benefited from our programme and be able to build their businesses and strategise as founders of scaleups,” Tay adds.
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