Endeavor Malaysia has expressed their support for Malaysia Digital Economy Corporationss (MDEC) Founders Centre of Excellence (FOX) programme, a new initiative guided by the goals set in MyDigital Blueprint, designed to support the growth and development of high-potential tech companies in Malaysia.
A key component of the recently launched FOX programme comprises a Global Mentoring Program (GMP) which is a 6-month initiative conducted by Endeavor Malaysia that aims to have more home-grown tech companies to become national unicorns by 2025.
Through the GMP, MDEC and Endeavor Malaysia will provide customised support to 10 high-growth tech companies that have the potential to become unicorns or IPO in the near future.
The programme will focus on addressing the needs identified by these companies, including policy intervention, business expansion, high-value investments, amplification and consultancy, and talent acquisition.
“We are delighted to be partnering with Endeavor Malaysia in the FOX GMP, a programme aimed at catalysing the creation of more “Unicorns” in Malaysia. This initiative is aligned with MyDIGITAL as well as the new national strategic initiative, Malaysia Digital (MD), which seeks to cultivate and advance domestic tech companies to attain Unicorn status by 2025. We are confident that the synergy between MDEC’s resources and expertise, along with the global exposure and vast network support provided by Endeavor Malaysia, will enable these companies to reach their maximum potential and make a meaningful impact in their respective industries,” said Ts. Mahadhir Aziz, CEO of MDEC.
Endeavor Malaysia, with a unicorn on their board, Eric Cheng (CARSOME), alongside a herd of unicorns globally such as: Bukalapak from Indonesia, Insider from Turkey, Kavak from Mexico, Kitopi from UAE and more is well-equipped to push more traffic in the tech industry and demonstrate the potential for success toward achieving FOX program’s goal.
Alongside Mahadhir’s leadership, Managing Director of Endeavor Malaysia, Adlin Yusman added, “Through this programme, Endeavor will assist participating companies by providing access to customised and unbiased group mentorships, global exposure to industry experts from over 41 markets, introduction to a vast network of investors and fundraising support. Qualified companies may also be eligible for post-programme support to further accelerate their growth and success. We believe that the FOX program, with its unique blend of resources and expertise from MDEC and Endeavor Malaysia, will help these companies create a lasting impact within their companies and to the next generation of aspiring entrepreneurs.”
To be eligible for the FOX GMP, companies must be headquartered in Malaysia and have a digital technology platform or service as a core offering. Additionally, they must have raised Series A or possess a solid track record of growth and revenues. The 10 companies selected include those involved in SaaS, AI and IoT, Fintech, Insuretech, Healthtech, E-commerce, Proptech and IC Design.
The FOX programme i aims to support the growth and development of high-potential tech companies, which are vital for driving innovation and economic growth in the country.