12 Malaysian Tech Startups Shortlisted For Pitch Malaysia Usa Series

SHAH ALAM, April 12 (Bernama) -- The Selangor Information Technology and Digital Economy Corporation (Sidec) has announced the 12 Malaysian tech startups shortlisted for its upcoming programme Pitch Malaysia USA Series in Silicon Valley and Washington DC.

The twelve startups shortlisted to participate in the programme are Asia Mobility Technologies, iMotorbike, ALPS Global Holding, Virtualtech Frontier, Abletech Solution (Subplace), Boxcube, Entomal, Revenue Monster Group, QMed, Accendo Technologies, Kiddocare and Pod.

In a statement today, Sidec said these startups were selected from among 80 applicants based on their exponential scaling prospects, having raised at least US$500,000 from Venture Capital firms and generated US$1 million in revenue over the last 12 months.

It said the programme would take place from May 1 to May 6 and would include three pitching showcases at the Malaysia embassy in Washington DC, Draper University, and the SelectUSA Investment Summit.

The programme would also include industrial visits to the Office of Innovation and Entrepreneurship, George Washington University, Autodesk Technology Center and Amazon, two global venture capital meet-ups, and networking opportunities with the Malaysian diaspora community and global startups, it added.

"Pitch Malaysia USA Series is a platform to highlight promising Malaysian startups by placing them in the spotlight of international investors and helping them to scale globally, aligned with the national goal of creating five unicorn companies by 2025.

"It will attract foreign direct investment (FDI) and build closer ties between the technology ecosystems of the United States (US) and Malaysia," Sidec said.

Sidec said the SelectUSA Investment Summit 2023 is the premier event in the United States for foreign direct investment (FDI) promotion which connects approximately 3,600 participants from 70 countries, including local and foreign investors, companies, economic development organisations (EDOs), and industry experts to facilitate investment deals.

The delegation would be led by Menteri Besar Datuk Seri Amirudin Shari and also include state executive councillor for Investments, Trade and Industries Datuk Teng Chang Khim; Sidec; National Venture Penjana Kapital; Selangor state venture capital Permodalan Negeri Selangor Bhd, The Hive Southeast Asia, The SEA Capital, Sterling Equity, and tech startup founders.

-- BERNAMA