SHAH ALAM – Selangor Menteri Besar Datuk Seri Amirudin Shari will lead a delegation of 11 selected Malaysian tech start-ups to participate in a series of investment and pitching events in the United States.
In a statement today, Selangor Information Technology and Digital Economy Corp (Sidec) said the start-ups have been selected to join the 2023 SelectUSA Investment Summit in Maryland from May 1 to May 4.
“The SelectUSA Investment Summit, which will be officiated by President Joe Biden, is expected to provide an opportunity for Malaysian tech start-ups to meet international venture capitalists (VCs) and investors as well as potential business partners, enabling face-to-face business meetings.
“The showcase is organised by the US Commerce Department and provides a platform for global companies and economic development agencies from all 51 US states to establish trade and investment links,” it said.
Sidec noted that Amirudin and Selangor Industry and Trade executive councillor Datuk Teng Chang Khim will also participate in investment round-table meetings hosted by the US Commerce Department and the California Governor’s Office.
Meanwhile, the chosen start-ups are Asia Mobility Technologies, iMotorbike, ALPS Global Holding, Virtualtech Frontier, Boxcube, Entomal, Revenue Monster Group, QMed, Accendo Technologies, Kiddocare, and Pod.
The sectors they cover include smart transportation; metaverse; smart healthcare; biotechnology; gig economy platforms; environmental, social, and governance sustainability innovation; human resource technology; financial technology; and tourism technology.
“They will be accompanied by several Malaysian investment agencies and venture-capital funds such as Penjana Kapital, Permodalan Negeri Selangor Bhd, The Hive Southeast Asia, The SEA Capital, and Sterling Equity,” said the statement.
The 11 start-ups will also participate in a pitching event, which is being held for the first time at the Malaysian embassy in Washington.
“The event is expected to attract around 30 start-up founders from Singapore and Taiwan, as well as 70 business and political leaders, and members of the Malaysian overseas community and students.
“The event is already fully booked, with more than 100 guests confirming their attendance,” Sidec said.
After participating in pitching events in Washington and Maryland, the start-ups are scheduled to travel to Silicon Valley from May 4 onwards for an opportunity to meet with several VCs and foreign start-ups who have established themselves in the US.
“The trip is packed with events including pitching and showcases, investor round-table meetings and industrial visits, including to Draper University which is founded by the legendary ‘VC guru’ of Silicon Valley, Tim Draper.
“These start-ups will participate in a round-table discussion with 500 Global, one of the most active early-stage venture-capital funds, and other global VCs such as The Hive USA, March Capital, and Piva Capital,” said Sidec.
Moreover, accomplished Malaysian serial entrepreneurs based in Silicon Valley will also help arrange meetings between start-ups and investors focusing on promising early-stage start-ups, said Sidec. – Bernama, April 24, 2023
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