Expose startups to US peers pitching styles, creating links with US investors Trip gives Sidec confidence of seeing substantial investments within Selangor with PNSB [Ed: An earlier version of the caption mis-identified Nadia.] Mission statements and goals set by public agencies are a dime a dozen and can be adjusted for convenience. But, launched in 2015, the Selangor Information Technology & Digital Economy Corporation (Sidec), a subsidiary of Invest Selangor Bhd, has been focused on its mission to lead the digital transformation of Selangor as ASEAN’s digital hub.
Expose startups to US peers pitching styles, creating links with US investors[Ed: An earlier version of the caption mis-identified Nadia.]
Nine of the 11 startups who went to the US shared their experiences which included participating in the Select USA Investment Summit in Washington DC, and some roundtables in the Silicon Valley with venture capitalists, where they showcased their business ideas and forged connections with international investors. Among the VCs met in the Silicon Valley were, 500 Global and The Hive USA, both of which also have a presence in Malaysia, March Capital, and Piva Capital.
“However, investors there prefer us to have a presence in the US because they only invest in the market they’re familiar with, and we were also told that it's challenging for foreign companies to venture into its market, particularly healthcare which is a highly regulated sector,” he added. POD is a financial well-being platform for the underserved such as gig workers and the B40 in Malaysia and Southeast Asia.
Their experience was good enough that both Kev and Nadia would recommend startups to be part of Sidec’s startup programs and participate in Pitch Malaysia USA should they get invited, even though participants have to pay around RM10,000 for the trip.
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