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  • Writer's pictureJessica Lee

MDEC Proficeo Selects Ten Startups For Initial Venture Capital Investments

The Malaysia Digital Economy Corporation (MDEC), in collaboration with Proficeo Scaleup Malaysia, chose 10 start-ups in their Founders Grindstone, a VC Readiness Programme (VCRP).

MDEC chief executive officer Mahadhir Aziz said the Founders Grindstone: VC Readiness Programme, which was concluded demonstrates MDEC’s digital economy commitment to nurturing the tech startup ecosystem in Malaysia.


“With the Malaysia Digital (MD) national strategic initiative and its PEMANGKIN programmes, we aim to generate significant economic spill-over and foster exceptional growth, reshaping the way we work and live in Malaysia,” he said in a statement today.


Out of 20 startups shortlisted, 10 startups were chosen to embark on this journey to refine their strategies and lay the groundwork for early-stage venture investments.


The participating companies are Bio Inteltech Sdn Bhd, Capsphere, Cult Creative, Matrix Ideal Sdn Bhd (Evolet), Secondlifeasia Technology Sdn Bhd, Shoraka Suyula Platform Sdn Bhd, Synxsoft Sdn Bhd, TRYKE Transportation, Leasy App, and Wahine Capital Sdn Bhd.


Throughout the programme, each participating startup was provided with one-on-one interaction sessions with analysts and partners from ScaleUp Malaysia, focusing on fixing key gaps for investment readiness, as well as participating in networking sessions.


On Oct 16, a final demo day will conclude the programme at MDEC Bangsar South.

Mahadhir Aziz said the demonstration will be held in conjunction with Malaysia Digital Expo 2023 (MDX2023).


During this occasion, participating startups will have the chance to exhibit their progress, acquire insights, and their preparedness for investment to both the public and potential investors.


The expo will be from 25 September to 8 November 2023 to bring together Malaysia’s top in digital economy and demonstrate Malaysia’s readiness to explore and grow to take its digital system to new heights. Source: BusinessToday

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