MaGIC-NEXEA partnership elevates the growth of startups to a total of RM41mil combined revenues

KUALA LUMPUR, MALAYSIA – Media OutReach – 11 February 2022 – NEXEA’s
Entrepreneurs Programme and
Malaysian Global Innovation and Creativity Centre (MaGIC) renewed their
partnership to continue helping startups grow their businesses during this
challenging time. Despite the pandemic, the Entrepreneurs Programme continues
to provide a platform for tech entrepreneurs to connect with peers and
like-minded individuals in an opportunity to grow, gain knowledge, and develop
themselves for success.

Since collaborating with NEXEA in
March 2021, MaGIC has empowered 15 participants. In this quarter, the startups
have grown tremendously in terms of generating revenue, team expansion, growing
the startup valuation and gaining fundraising. The startups who are supported
by MaGIC have recorded a total of RM41mil revenue in this quarter. Realizing
that the partnership promoted the entrepreneurs’ growth, MaGIC expanded their
support to another 15 participants later in September. Hence, MaGIC now has
opened up to a total of 30 slots for the programme.

“The ability to scale up,
access untapped markets, enhance brand positioning, access to funds and
partners, are crucial factors to the success of technology and innovation
businesses. By value-adding to the startups’ growth development cycle, we are
effectively enhancing the value and impact for our innovators to deliver its
benefits back into the ecosystem. Together, MaGIC with our corporate partners
can empower startups who will be at the forefront of the digital transformation
while positioning them for exponential growth. to accelerate commercialisation
rates of key technologies pivotal to the growth of the country,” said Khalid
Yashaiya, Acting CEO of MaGIC.

“With the consolidation of
MaGIC and TPM as MRANTI, we can further empower innovators who
will be at the forefront of the digital transformation while positioning them
for exponential growth to accelerate commercialisation rates of key
technologies pivotal to the growth of the country,” said Khalid.

Eu Gin, the founder of
Riipay, was one of the newer startups under the programme. It is a financial
service company that provides ‘buy now, pay later’ for customers’ easy
financial management. He said, “The Entrepreneurs Programme has allowed me
to build deeper connections with many fellow entrepreneurs. With this, I am
able to learn from their experience, which has helped me build a more
sustainable business with a high focus on business fundamentals, such as
company business development strategy, company finance, talent management, and
more.”

He added, “As a startup,
managing our costs to be as lean as possible is very crucial. MaGIC’s support
has eased me in managing my company’s finances better.”

Apart from that, Keith Loh,
the founder of Perkaholic, a startup that is passionate about providing
lifestyle perks for employees, said, “Having been through the programme,
we have truly discovered who we truly are as entrepreneurs. We have gained so
much knowledge and experience from this program.”

“As a
result, NEXEA’s Entrepreneurs Programme has accelerated the process, ensuring
we do not repeat the mistakes of others who have gone through the same process.
As a startup, the team is now more aware of what will happen, which will enable
us to progress better by avoiding traps that we otherwise would have fallen
into,” he adds.

As of the third
quarter of 2021, the Entrepreneurs Programme managed to help the startups to
gain more than RM75mil in total combined revenues and over RM1bil in combined
startup valuations. Lastly, they also managed to achieve RM118mil in combined
funding for these entrepreneurs.

Visit us at https://entrepreneursprogramme.com/ for more information.

 

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