GROWTH Charger, a leading startup accelerator and incubator, successfully hosted the Malaysia finals of the Startup World Cup 2024, with Cradle Fund Sdn Bhd as the title partner.
Held at the Asia School of Business in conjunction with Merdeka and Malaysia Day celebrations, the event granted one outstanding Malaysian startup the opportunity to compete on the global stage in Silicon Valley.
The winner of the Malaysia finals now has the chance to vie for a grand prize of US$1 million (RM) in investment at the Startup World Cup 2024, organised by Pegasus Tech Ventures.
The Malaysia Finals of Startup World Cup 2024 coincided with Malaysia’s Merdeka and Malaysia Day celebrations, reflecting the country’s aspirations to become a leader in the global startup ecosystem by 2030, as outlined in the Malaysia Startup Ecosystem Roadmap 2021-2030.
This initiative aligns with the nation’s ambition to make Kuala Lumpur a hub for innovation and digital advancement, providing a platform for Malaysian entrepreneurs to showcase their capabilities on the global stage.
Ten high-potential startups, selected from a competitive pool, presented their business solutions across sectors such as education technology, healthcare, green energy, agriculture, and digital platforms.
These finalists, chosen for their innovative approaches and market-ready solutions, impressed a distinguished panel of judges, including industry leaders and investors from Malaysia Digital Economy Corporation (MDEC), The Hive Southeast Asia, Iris Capital Partners, Artem Ventures, Ignite Asia, Mranti, and Sunway iLabs.
Sethu Raaj, Midwest Composites chief executive officer and winner of the Startup World Cup (Malaysia) 2024, said: “We are extremely grateful to have been selected as Malaysia’s representative to the Startup World Cup in San Francisco. We look forward to demonstrating to the world that Malaysian startups are world-class and have innovations that are on par with any global ecosystem.
“Growth Charger is pleased to announce that Midwest Composites has emerged as the winner of the Startup World Cup (Malaysia) 2024. Their achievement is a testament to the innovation and potential within Malaysia’s startup ecosystem.
“As they head to Silicon Valley this October, we believe they will make a strong impact on the global stage, and competing for a US$1 million investment, this opportunity is a game-changer. This victory underscores our mission to propel Malaysian startups onto the world stage.
“We are grateful to Pegasus Tech Ventures and our partners for making this journey possible.” Iskandar Shafi’i, director and co-founder at Growth Charger.
Norman Matthieu Vanhaecke, group chief executive officer of Cradle, said: “We are immensely proud to support the remarkable talent and innovation demonstrated by our local startups at the Malaysia Finals of this year’s Startup World Cup.
“At Cradle, we remain dedicated to exploring avenues and opportunities such as this Startup World Cup to showcase some of our best Malaysian startups in the international arena.
“These efforts reflect our unwavering commitment to nurturing and empowering these ventures to achieve their full potential locally and globally, ultimately realising the country’s vision to become one of the top 20 global startup ecosystems.
“We extend our heartfelt congratulations to Midwest Composites and wish them all the best as they compete in the grand finals in San Francisco.”
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(From left) Artem Ventures managing partner Low Zhen Hui, The Hive Southeast Asia investment principal Watson Tan, Sunway iLabs chief operating officer Karen Lau, Cradle Fund grand and investment senior vice-president Juliana Jan, MDEC funding facilitation head Fadzli Hisham, Growth Charger director Iskandar Shafi’i, Pegasus Tech Ventures investor Yonathan Vincent Xavier, Mranti general manager Syazwani Ismail, Ignite Asia investment vice-president Jake Thui, and Iris Capital Partners assistant vice-president Kenny Lee pose during the Startup World Cup 2024 Malaysia finals at Asia School of Business, Kuala Lumpur, on September 5, 2024.[/caption]
The event was supported by numerous key ecosystem players, including Cyberview and MDEC as strategic partners, Worq and CloudMile as ecosystem partners, and supporting partners such as Invest Selangor, The Hive Southeast Asia, Gobi Partners, Iris Capital Partners, Curine Ventures, Kumpulan Modal Perdana, Artem Ventures, Sunway iLabs, Ficus Capital, Ignite Asia, Indelible Ventures, Trive, Antler, International Medical University, Endeavor, JomHack, NTT Group, NTT Startup Challenge, and Nestspace.
Shafinaz Salim, head of Cyberview’s tech hub development division, said: “The Startup World Cup championship is testament to the incredible talent and vision of entrepreneurs who are shaping Malaysia’s future. We are thrilled to see Midwest Composites, a start-up from our current Cyberview Living Lab® Accelerator cohort, emerge champion.
“We would also like to congratulate Vidanex and Faradays Energy, also from our current cohort, together with two of our alumni, Pandai and MengajiOnline, for making the list of finalists. This achievement highlights their exceptional talent and innovative spirit, simultaneously underscoring the importance of supporting and nurturing them towards potentially becoming Malaysia’s next unicorns.”
CloudMile Malaysia country manager Lester Leong said: “CloudMile and Growth Charger unite to foster a vibrant startup ecosystem in Malaysia, together we provide them with the tools and resources they need to thrive with the objective to make the Malaysia startup scene great, Madani Malaysia!”
The winner of the Malaysia finals will be flown to Silicon Valley to compete in the Startup World Cup grand finale, where they will pitch to global investors, network with top venture capitalists, and compete for a life-changing US$1 million investment prize.
The Startup World Cup, organised by Pegasus Tech Ventures, is a global competition that connects startup ecosystems across the globe. With regional finals held worldwide, the Malaysia finals of the Startup World Cup 2024 represents a critical step in Malaysia’s journey towards becoming a global innovation powerhouse.
Growth Charger currently manages 128 portfolios and has accelerated over 250 startups, which have raised total investment of over US$173 million. With a history of successful collaborations with government agencies such as Cradle through the MYStartup initiative, Cyberview, MDEC, Mranti, Sidec, TERAJU and Yayasan Peneraju, Growth Charger has solidified its position as a key player in the startup ecosystem. This experience and expertise will be crucial in supporting participating startups throughout the competition.
For more details about the Startup World Cup 2024 Malaysia finals, visit its webpage.
