The Selangor Information Technology and Digital Economy Corporation (Sidec) will be selecting 10 promising startups to represent Malaysia at pitching showcases in both the Silicon Valley and Washington, one of the most ambitious pitching programmes organised by the Malaysian ecosystem enablers in the USA this April.
Sidec Chief Executive Officer Yong Kai Ping said the start-ups would be selected under the Pitch Malaysia USA Series 2023, the pinnacle programme by Sidec which highlights the country's promising start-ups and placing them in the spotlight of global investors to scale globally.
The Pitch Malaysia USA Series, to be held from April 25 until May 3, is a platform for investment-ready local start-ups to showcase and expand their business potential into the US market. Start-ups from all states can send their applications from Feb 20 until March 10, and the 10 start-ups selected will be announced on March 16.
He said the criteria for companies applying for Pitch Malaysia include being:
Incorporated for fewer than 10 years
Raising US$500,000 from a venture capitalist firm or an institutional investor
Generating at least US$1 million in revenue over the last 12 months
Developing new technology, products or services as well as providing disruptive innovations and scaling new markets.
“The other application details will be announced later,” said Yong Kai Ping.
Sidec is dedicated to achieving the national goal of creating five unicorns by 2025
Selangor EXCO for Industry and Trade, YB Dato’ Teng Chang Kim said that Sidec has successfully nurtured 150 startups from the five consecutive cohorts of the Selangor Accelerator Program (SAP) and also also took the Top 5 winning startups for industrial visits to Beijing, Hangzhou, Jakarta, Ho Chi Minh and Bangkok.
As confidence grew, Sidec further ventured on the "moonshot" project of organising the Silicon Valley pitch programme in 2020 and 2022. The Pitch Malaysia USA Series 2023 will be the third time Sidec is leading a diversified team of "Truly Asia Startups" to explore the Land of the Free and the Home of the Brave.
“We look forward to a successful 2023 SelectUSA Investment Summit and Pitch Malaysia USA Series, as well as wishing all Malaysian startups to accomplish all their investment and business goals, and to come home with more success stories.
Expanding business potential into the US market
According to the US Ambassador Brian McFeeters, "The SelectUSA Tech event on May 1-4 in Maryland is an ideal platform for connecting early-stage and startup technology companies from various countries to prospects in the United States. International tech companies that invest in the United States can benefit in many ways, from our strong protection of intellectual property rights laws to access to our large consumer market."
The U.S. Embassy KL welcomes Malaysian companies that want to learn more at www.trade.gov/selectusa-home
Launching of the Selangor Sandbox Coworking Space
Selangor Sandbox Coworking Space was rebranded from Selangor Digital Creative Centre (SDCC) which started operations in 2015. Located in i-City, Shah Alam, Selangor, the 14,000 square feet Selangor Sandbox Coworking Space is purpose-built for networking, mentoring, brainstorming, spurring creativity and resource sharing. The space includes a seminar room, multiple meeting rooms, library, a gym and rest area.
