The 100 Soonicorns ecosystem is designed to groom local startups with potential to become the next unicorns of Malaysia, following Carsome Group. theSun theSundaily business startup economy entrepreneur Malaysia
From left: Sequerah, MDEC chief digital industry officer Gopi Ganesalingam, ScaleUp Malaysia managing partner Xelia Tong, Taufiq and Sivapalan at the launch.: Malaysia is enhancing its potential to produce more unicorns via 100 Soonicorns, a programme that aims to support the country’s aspiration to create five unicorns by 2025.
The programme was launched by ScaleUp Accelerator Sdn Bhd and Proficeo Consultants Sdn Bhd in a public-private partnership with Penjana Kapital Sdn Bhd and Malaysia Digital Economy Corp Sdn Bhd . “The programme will highlight these startups as Malaysia’s most promising companies, placing them in the spotlight of global investors,” Sivapalan said at the launch today.
Penjana Kapital CEO Taufiq Iskandar remarked: “We have always believed that developing an ecosystem requires more than just financial capital. 100 Soonicorns is an initiative that provides the right stimulus to help up-and-coming entrepreneurs maximise their potential.” To be invited as participants, startups – typically technology-based – need to have raised at least US$1 million from a venture capital firm or institutional investor; or have generated US$2 million in revenue over the last 12 months.
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