Indelible Ventures (Malaysia) Among Winners Of upDrive’s Cycle 1 Initiative

upDrive has unveiled the winners of its inaugural cycle initiative, aimed at fostering entrepreneurship and innovation across emerging markets. This year’s accolades go to Indelible Ventures, Endeavor and Techsauce Media, each embodying the spirit of innovation and the potential to impact the startup ecosystem in their respective regions significantly.

Indelible Ventures (Malaysia) targets seed-stage, tech-enabled B2B startups that can scale internationally, using their extensive global experience to help founders expand their businesses and grow across different geographies.

Endeavor Indonesia (Indonesia) is a global community dedicated to supporting high-impact Entrepreneurs in emerging and underserved markets. Its mission is to create thriving entrepreneurial ecosystems by inspiring founders to aim higher, providing support and investment for rapid scaling, and offering a platform for them to give back, thereby amplifying their individual impact.

Techsauce (Thailand), founded by Thai tech startup community leaders, serves as a hub connecting startups worldwide through collaborative networks. 

Each winner will receive a USD 15,000 grant to support their proposed projects, with a roadmap agreement ensuring the funds are used to maximise impact. This aligns with upDrive’s commitment to sustainable growth and positive change in emerging markets.

These winners were selected for their exceptional creativity, innovative solutions, and their potential to make a significant impact in the field of entrepreneurship in emerging markets to address current challenges within the startup ecosystem, including regulatory hurdles, talent retention, access to capital, mentorship, and fostering a culture of inclusivity and diversity.

“We are proud to announce the first winners of the upDrive Program. We are very impressed by their innovative solutions that have the potential to drive positive change for the benefit of startup founders in local communities. They outlined realistic and well-planned strategies for implementing their proposed projects, ensuring that they can be successfully executed and have a tangible impact. The winning proposals are also aligned with the core objectives of the upDrive Program, emphasising sustainability, social impact, and long-term viability,” said Assem Omar, Head of upDrive.

The upDrive Program, initiated by inDrive, a global mobility and urban services platform, is dedicated to nurturing and bolstering the burgeoning startup ecosystem in Southeast Asia. This initiative underscores the company’s dedication to fostering innovation and stimulating economic growth in one of the globe’s most dynamic and promising markets. Designed to expedite the development of local startup communities in emerging markets, the program offers customised resources tailored to their specific needs. 

The selection process for the UpDrive Program grants involved a rigorous and impartial evaluation conducted by representatives from inDrive. All submitted proposals underwent an initial review to ensure they met the eligibility criteria and aligned with the focus areas of the UpDrive Program. 

Indelible Ventures’ proposal seeks to foster entrepreneurship by collaborating with universities across Malaysia. The goal is to inspire young people to become founders or pursue careers in existing startups. The initiative aims to engage with at least 500 aspiring founders and collaborate with a minimum of 50 university-incubated startups.

“We are excited to have UpDrive as a key partner to support our efforts in driving entrepreneurship outside of the core centres and capital cities.  We plan to drive more ecosystem building activities across Malaysia to inspire the next innovators that will be advising their local markets and beyond,” said Kevin Brockland, Founder and Managing Partner at Indelible Ventures (Malaysia).

The Techsauce proposal presents the Thailand Accelerator, a program designed to support early-stage companies. It offers mentorship, funding access, PR, and investor connections to promote sustainable growth and visibility at the Techsauce Global Summit. The program emphasises three main areas:

1) Accelerator – recruiting and guiding startups towards a demo day,

2) Community Building – organising networking events, meetups, and workshops, and

3) Grooming New Founders – through a unique apprentice program.

“We are incredibly honoured to be selected for the UpDrive Startup Program by InDrive. This grant will be instrumental in propelling Techsauce forward in our mission to empower the tech ecosystem in Southeast Asia. InDrive’s recognition of Techsauce’s potential further validates our unwavering commitment to fostering innovation and collaboration within the region’s burgeoning tech scene. We are confident that this partnership will unlock new possibilities for Techsauce to make a lasting impact and contribute meaningfully to the growth of the tech industry in Southeast Asia,” said Oranuch Lerdsuwankij, CEO and Cofounder of Techsauce.

Endeavor Indonesia is proposing the Endeavor Scale-Up, a non-dilutive, founder-focused accelerator program. It aims to help founders scale their companies by providing access to successful founders, seasoned executives, and industry leaders across the Endeavor network.

“I am delighted to join hands with InDrive for the upcoming Endeavor Scale Up Batch #6 and #7. Endeavor Scale Up is a non-dilutive founder-focused accelerator program that has empowered 127 entrepreneurs from 67 of Indonesia’s most promising companies, including Evermos, Noice, Buttonscarves, and many more. With InDrive’s support, we are optimistic about attracting even more innovative founders who lead fast-growing businesses in Indonesia. This partnership aligns with our commitment, as we continue to drive founders to dream bigger, scale faster, and pay it forward to foster sustainable growth and drive impactful change in Indonesia’s startup ecosystem. Together, we are ready to catalyse the next wave of success stories through our Endeavor Scale Up program,” said Devina Hartono, Executive Director of Endeavor Indonesia.

As these trailblazers set forth to utilise their grants, upDrive remains committed to monitoring their progress and supporting their journey toward creating a more inclusive and innovative entrepreneurial ecosystem.

The UpDrive Program has achieved a significant milestone in supporting emerging markets. Currently, the program is on a temporary hold to enhance its model and structure.

For further details on the winners and their groundbreaking projects, please visit https://updrive.indrive.com/.

 

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