Sidec: Top 10 Winners Recognised At Selangor’s ECX 2024 Final Demo Day

KUALA LUMPUR, Nov 6 (Bernama) -- The final demo day for the second cohort of the Selangor E-Commerce Xccelerator (ECX) 2024 recognised the top 10 winners at the Selangor Information Technology and Digital Economy Corporation (Sidec).

The 10 winners are Wellness Cosmetology Alliance Lab Sdn Bhd; Nasi Lemak Nale Sdn Bhd; Ominent Sdn Bhd; Eartheories Sdn Bhd; Gelatomio Production Sdn Bhd; Saudagaar Asia Sdn Bhd; Kimyra International Sdn Bhd; Natugee Sdn Bhd; MCCKT Ventures Sdn Bhd; and Naza Beyond Ventures.

Ng Sze Han, Selangor State Exco for Investment, Trade and Mobility, announced that the winners will receive exclusive access to a special programme offered by TikTok’s parent company, ByteDance, in Shanghai.

“This provides them with valuable insights into global markets, networking with industry leaders, and exposure to the latest trends in e-commerce and digital marketing.

“Additionally, the top 10 winners will receive 30,000 credits from Pos Malaysia, contributing to a total prize package valued at RM300,000,” he said in his keynote speech at the ECX24 final demo day yesterday.

Ng said that by nurturing high-potential small and medium enterprises (SMEs), the ECX programme aims to contribute to Selangor’s goal of fostering 5,000 digital-savvy entrepreneurs within the next five years.

“In 2023, e-commerce in Selangor accounted for nearly RM400 billion in transactions, positioning the state as a vital driver of Malaysia’s digital economy.

“With the digital economy projected to contribute significantly to the national GDP by 2025, initiatives like ECX are more important than ever,” he added.

Meanwhile, in a statement today, Sidec chief executive officer Yong Kai Ping said the ECX 2024 final demo day exemplifies Selangor’s dedication to supporting innovation in retail tech and digital commerce.

“These participants embody the resilience, creativity, and forward-thinking mindset needed to drive Malaysia’s economy forward,” he said.

The ECX24 programme has developed a platform for these startups and SMEs to gain market access, brand exposure, and investor interest, providing the resources to scale and compete in the digital marketplace.

Participants also benefited from exclusive perks, such as cloud services from Amazon Web Services and Microsoft Azure, which included access to artificial intelligence models like OpenAI’s GPT-4 and Llama 2.

-- BERNAMA