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Eight Malaysian companies are set to see their growth supercharged after they being selected to be part of the second cohort of the ‘ScaleUp Endeavor’ program.
It’s a hyper-adaptive 24-month program aimed at exponentially increasing the growth of Malaysia’s high potential, late stage startups.
Selecting the best.
Wee Jonn Leow, CEO of Photobook Worldwide. IMAGE: Endeavor.
Endeavor Malaysia will guide these entrepreneurs through the complexities of scaling their businesses.
All eight startups underwent a grueling screening by the Endeavor team and the ScaleUp Steering Committee. They were then selected during a Selection Day process, where eight panelists from the Endeavor network assessed all the shortlisted companies based on three main criteria: Entrepreneur, Business, and Timing.
“Endeavor plays a role in providing genuine mentorship with a passionate ecosystem,” Wee Jonn Leow, CEO of Photobook Worldwide and a member of the ScaleUp Steering Committee explained.
“Not everyone will pass the selection process but the fact that the companies showed up for the Selection Day despite the global pandemic shows that they are heading the right way; tough times don’t last, tough people do. Congratulations to all shortlisted participants!”
The selected startups.
Managing Director of Endeavor Malaysia Adlin Yusman. IMAGE: Endeavor.
Adlin Yusman, Managing Director of Endeavor Malaysia, said only the cream of the crop were selected for the second cohort.
The companies were given clear goals with the aim of doubling their revenue. Endeavor Malaysia aims to help them fundraise up to US$30 million to grow their business.
“We believe Malaysia is no exception to this type of evolution as we encounter many decade-defining startups in the late 90s and 20s that are truly remarkable such as Jobstreet, Groupon, Grab, and Carsome. With this, Endeavor Malaysia is taking on a bigger role through close facilitation in supporting and developing entrepreneurs through our ScaleUp Program – to take on a bigger role to build a more robust, resilient, and sustainable entrepreneurship ecosystem – especially during these challenging times. We firmly believe in the ethos that when economies turn down, entrepreneurs turn up,” Adlin said.
In case you’re curious, here’s a list of the eight selected startups:
1. Naluri: A human-driven, AI-augmented digital health solution that delivers improvements in mental and physical health in an affordable way.
2. Beligas: Helps thousands of Malaysians to order and get quick, & efficient deliveries of LPG cooking gas right to their doorstep. Customers also get to offset gas price when you recycle with Beligas.
3. BoomGrow: First 5G-connected vertical farm that transforms farming by producing 100 percent clean and nutritious goodness.
4. Pasta Panas: Fast casual dining outlet serving classic Italian favorites for only a fraction of the price.
5. Vircle: Malaysia’s First Parental-Controlled Nurturing Solution.
6. DoctorOnCall: Malaysian-based tele-health providing digital health services, offering doctor/specialist booking, medication sales, and delivery.
7. BloomThis: A startup that blossomed into Malaysia’s most stylish online florist and purveyor of gifts.
8. Good2U: Off-price retail chain store that sells affordable designer cut-label clothes.
All eight companies will be supported via ad-hoc mentorship, peer-to-peer sessions dubbed ‘Blitzscaling’ circles, and access to capital and a dedicated account manager to monitor the entrepreneurs’ needs and growth under the Road-to-Market initiative.
Read more Endeavor stories here:
Cover image sourced from Endeavor.
ที่มา : Mashable