SOURCE:
TheStar – https://www.thestar.com.my/metro/metro-news/2023/05/02/malaysian-startups-to-pitch-at-us-roadshow#.ZFDDtCMp6hI.linkedin
MalayMail – https://www.malaymail.com/news/malaysia/2023/04/24/sidec-selangor-mb-to-lead-us-roadshow-delegation-of-11-malaysian-startups/66171
We are proud to announce that Entomal would be a part of the 11 selected Malaysian technology start-ups that would be participating in a series of investment and pitching events in the United States under the lead of SELANGOR Mentri Besar Datuk Seri Amirudin Shari. Entomal would be joining the four-day 2023 SelectUSA Investment Summit, hosted by the US Department of Commerce (DOC), in Maryland which ends on May 4.
“The SelectUSA Investment Summit, which will be officiated by President Joe Biden, is expected to provide an opportunity for Malaysian tech startups 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 Department of Commerce and provides a platform for global companies and economic development agencies from all 51 US states to establish trade and investment links,” said Selangor Information Technology and Digital Economy Corporation (Sidec)
The Selangor government delegation led by Amirudin and state executive councillor Datuk Teng Chang Khim will also participate in investment roundtable meetings hosted by DOC and the California Governor’s office.
Aside from Entomal, the chosen startups are Asia Mobility Technologies, iMotorbike, ALPS Global Holding, Virtualtech Frontier, Boxcube, Revenue Monster Group, QMed, Accendo Technologies, Kiddocare, and Pod.
After participating in pitching events in Washington and Maryland, these Malaysian tech startups are scheduled to travel to Silicon Valley from May 4th onwards for an opportunity to meet with several VCs and foreign startups who have established themselves in the US.
During the visit, the Malaysian startups will take part in a roundtable discussion with 500 Global, one of the most active early-stage venture capital funds, and other global venture capitalists such as The Hive USA, March Capital and Piva Capital.
They will also visit institutions such as George Washington University’s Office of Innovation & Entrepreneurship, AWS Startup Loft and University of California, Berkeley’s Haas School of Business.
Malaysian entrepreneurs based in Silicon Valley will help arrange meetings between the startups and investors that focus on early-stage startups.
The 11 Malaysian startups were carefully selected based on their exponential scaling prospects as well as their ability to raise at least US$500,000 (RM2.23mil) and earn at least US$1mil (RM4.5mil) in revenue over the past 12 months.
The sectors covered by these startups include smart transportation, metaverse, smart healthcare, biotechnology, gig economy platforms, ESG sustainability innovation, HR technology, financial technology and tourism technology.
Selangor Information Technology and Digital Economy Corporation (Sidec) chief executive officer Yong Kai Ping believes that some of these startups may have the potential to become “unicorns”, referring to companies that reach a valuation of US$1bil (RM4.5bil) without being listed on the stock market.
We’d like to thank Selangor Menteri Besar Datuk Seri Amirudin Shari and SIDEC in organizing this business expedition trip for developing the Malaysian start-up tech scene to all across the world. Stay tuned on our progress and update of Entomal!
