KUALA LUMPUR: Malaysia Digital Economy Corporation (MDEC), together with Cyberview and Setia Haruman Sdn Bhd has launched the inaugural Cyberjaya Tech Funding Symposium 2016 in Malaysia.
The congregation featured leading global investors and prominent speakers who shared knowledge and valuable insights on entrepreneurship funding opportunities.
At the symposium, MDEC also signed four Memorandum of Understanding (MOU) with key foreign Venture Capitalists (VC) from the US, Vietnam, Singapore and China to support the growth of the Digital Economy in Malaysia.
With the participation of 22 foreign VCs, the funding symposium acts as a catalyst to attract foreign venture funds to Malaysia to generate more collaborative efforts and promote syndication among local & foreign funders.
Among investors present, include Draper Dragon, DFJ Vina, Intres, Cradle Seed Ventures, Vertex Ventures, 500 Startups, Quest Ventures and B Capital Group.
“We are thrilled to see such great response from world renowned investors who are here to provide our local entrepreneurs and businesses with the necessary opportunities to scale and provide the needed support,” said MDEC chief executive officer Datuk Yasmin Mahmood.
“With the rapid emergence of entrepreneurs, it is essential for Cyberjaya and Malaysia to have a developed funding ecosystem to support our local entrepreneurs and businesses.
“We seek to attract foreign venture capitals to invest in Malaysia as their presence and contribution catalyses the ecosystem growth.
“A developed funding ecosystem facilitates and empowers the broader local economy to contribute to Malaysia becoming a hub for creative thinking and business activity for upcoming local and foreign tech companies,” she added.
In the effort to develop the funding ecosystem in Malaysia, MDEC signed four MoUs with Dragon Fund LLC (USA), DFJ VinaCapital L. P (Vietnam), Golden Gate Ventures (Singapore) and Netrove Ventures Corporation (China) to provide venture funding.
The MoU provides a unique platform for Malaysian tech companies to pursue equity investments, market access opportunities and mentoring opportunities.
Other than linking the VC network for collaboration and fund raising, the MoU seeks to promote the company as a platform for investing.
It also aims to streamline MSC Malaysia companies, which fulfill the eligibility criteria and ensure that these companies have sufficient scaling and growth potential.
Source: http://www.theborneopost.com/2016/10/31/cyberjaya-scales-up-efforts-to-build-a-sustainable-funding/, 31 Oct 2016