Dear reader,
Malaysia’s digital transformation takes a significant leap forward with MDEC’s newly forged partnerships with Singapore’s Ascent and Indonesia’s Central Capital Ventura (CCV).
These MoUs bring a combined capital investment of US$45 million, targeting growth for Malaysian startups in key sectors such as fintech, AI, and sustainable agriculture.
Ascent’s focus on early-stage startups in essential digital sectors complements CCV’s role in offering access to Southeast Asia’s expansive ecosystem, providing an invaluable network for Malaysian businesses aiming to scale regionally.
This collaboration aligns closely with Malaysia’s KL20 digital strategy, reflecting a commitment to fostering innovation, financial inclusion, and sector-specific growth. By connecting Malaysian startups to resources and expertise across Southeast Asia, MDEC is building a pathway for local companies to integrate with the broader digital economy.
This strategy not only bolsters domestic talent and innovation but also creates a platform for startups to compete globally, enhancing Malaysia’s position as a digital-first nation.
The partnerships highlight a regional synergy that can drive long-term digital and economic progress, positioning Malaysia at the heart of Southeast Asia’s tech-driven growth.
Sainul,
Editor.
———–
NEWS & VIEWS
MDEC unveils US$45M investment initiative with Ascent, CCV to strengthen Malaysian startups
This combined funding by MDEC, Ascent, and CCV will foster the growth of startups, particularly in alignment with Malaysia’s KL20 initiatives.
Bukalapak adjusts strategy amid Q3 loss, plans job cuts
The company’s revenue rose by 2% y-o-y to US$218M for the first nine months; However, EBITDA was recorded at -US$4.36M. Layoffs are expected over the next two quarters.
NUS, NTU to launch US$37.8M startup incubator programme
The programme is designed to bridge the gap between scientific research and market application; It will support startup teams by helping them refine their initial ideas, validate market needs, and design robust business models.
Over 60% of Indonesian youth invest in crypto
The findings by Bappebti show that 26.9% of these investors are between 18 and 24; Meanwhile, 35.1% fall within the 25 to 30 age group; Despite recent declines, Indonesia’s crypto transaction volumes are robust.
Indonesia’s GoTo achieves positive Adjusted EBITDA
The group’s adjusted EBITDA reached a new high of US$8.73M v/s a loss of US$35.6M in the same period last year; This strong performance was underpinned by a 21% y-o-y increase in MTUs across the GoTo ecosystem.
Former FTX executive Nishad Singh gets supervised release
He was involved in the misappropriation of about US$8 billion in customer funds; Singh had pleaded guilty to six counts of fraud and conspiracy.
S&P: EV makers to bet US$20B on South and Southeast Asia
The rating agency said that building an electric car industry in SSEA will be expensive; It will involve execution risk typical for cross-border expenditure, where entities will try to anticipate shifting policies over long investment horizons.
Lazada Whitepaper reveals 88% of consumers make purchasing decisions using AI
Nearly 63% consumers in SEA believe AI is widely adopted in online shopping, with over half of the respondents identifying AI chatbots (63%), translations (53%), and visual product searches (52%) as key recognized AI features in e-commerce.
Lazada co-founder enters AI arena with Salesforce-like product
Magnus Ekbom started SEAI with Ashwath Ramesh, who was executive vice president for Southeast Asia at Lazada; SEAI focuses on building machine learning models that are customised for enterprise clients.
DCAP nets strategic funding to advance financial inclusion with AI-driven lending solutions
DCAP’s go-to-market lending-as-a-service model allows traditional financiers to embrace digital transformation to streamline processes and enhance customer reach.
81RAVENS scores US$4.5M seed funding to launch Solana-based arena shooter PARAVOX
The investors are DIGITAL HEARTS HOLDINGS and GREE Ventures; PARAVOX is currently in Global Open Alpha and claims to have clocked over 100,000 downloads on the Epic Games Store.
Finfra secures US$2.5M to power Indonesia’s lending ecosystem in new partnership with Tyme Group
The investors include Cento Ventures, Accion Venture Lab, and Z Venture Capital; Finfra will use the funds to expand onboarding capabilities for customers, target profitability, and enhance its data analytics, scoring, and risk assessment products.
Coolmate gets Vertex backing to scale its eco-friendly D2C apparel brand beyond Vietnam
Coolmate innovates with eco-friendly materials like organic cotton, recycled fibres, and the latest eco-friendly production processes, such as clean dye technology.
BuzzAR lands US$1.16M in funding to boost Saudi tourism with AI-driven travel companion
HSBC New Economy Fund is the finance partner; Beyond offering storytelling and personalised content discovery for travellers, BAE has built-in booking and payment functionalities to handle transactions for travellers on the go seamlessly.
Vietnam’s PangoCDP secures US$1.5M seed funding
PangoCDP’s innovative platform is designed to empower businesses by providing a series of social communication tools and a suite of mini-apps, all underpinned by a robust customer data platform.
OpenAI launches its Google challenger, ChatGPT Search
Built into OpenAI’s ChatGPT platform, ChatGPT Search is designed to give “timely answers” to questions, OpenAI says, drawing from a range of online sources.
FEATURES & INTERVIEWS
Cutting carbon at the socket: measurable.energy’s smart solution to plug power waste
measurable.energy’s smart sockets are available through a pricing model that combines a one-time hardware fee with a software license.
What Accuron wants startups to know about fundraising for late-stage companies today
When asked about its upcoming plan for 2025, Edwin Chow of Accuron stresses the importance of taking curated, targeted approach.
Echelon Philippines 2024: Expert panel on building a strong foundation for startup success
The Echelon Philippines panel emphasised that achieving product-market fit and following lean startup principles are essential for new ventures.
Echelon Philippines 2024: Christina Cai of Lydia.ai on revolutionising insurance with AI
The Echelon Philippines fireside chat explored how Lydia.ai is leveraging AI to transform the insurance landscape in the country.
FROM THE ARCHIVES
Trust me, PR is with you day and night!
PR should be seen as more than just a combination of traditional and social media; It needs to incorporate conversion and real-time engagement; PR is shifting from focusing solely on output to measuring outcomes.
From Seed to Series: Navigating different funding rounds with PR
In today’s competitive startup scene, the integration of PR into the funding journey is no longer a luxury but a necessity.
Demystifying ToFu churn: How strategic CPO-CMO collaboration makes the difference
Merging CPO-CMO views with causality frameworks is key to reducing early churn and sustaining customer relationships.
Rise of generative AI in search: Exploring opportunities for APAC brands
Generative AI’s conversational ability and real-time training could fundamentally transform how users engage with search.
How Gen Z’s view on work-life balance can transform your business
A thriving workplace is not merely about productivity but also about prioritising the well-being of employees.
Why inclusive hiring matters for a startup ecosystem
A truly inclusive workplace is one where Persons with Intellectual Disabilities (PWIDs) are able to learn, thrive and be respected.
Keeping up with advertising: How brands can make the most out of change
By combining new technology with industry expertise, brands can stay ahead of the curve, reaping the benefits of their advancements.
Skate to where the puck will be: How category design gives you a breakaway
True category leaders take a look at the current state of play and think beyond where the current players are positioned.
AI in influencer marketing: Transforming trends and shaping the future
As AI continues to evolve and influence the influencer landscape, the future looks bright for brands, talent agencies, and AI influencers alike.
Rising above the noise: Why startups shouldn’t chase every news cycle
In such a dynamic environment, how can startups avoid being swayed by every headline? Should founders participate in these discussions?
How I continued building my tech startup as a student in the startup winter
Join me in reflecting on my journey and exploring how I navigated the challenges of building my tech startup during the startup winter.
THOUGHT LEADERSHIP
Creating a safe digital world: Protecting kids from cyber crimes and preventing cyberbullying
Protecting kids online is crucial, not only from cyberbullying but also from becoming bullies themselves, as both roles have lasting impacts on young lives.
Building brand visibility: Timeless content marketing principles for startups
Content marketing isn’t just about producing material—it’s about creating meaningful, valuable experiences that connect with people.
Cross-chain interoperability: The key to unlocking crypto’s true potential
Interoperability is the missing component that will unlock crypto’s true potential, well beyond the industry itself.
The double-edged sword of personal branding: A journey of discovery
Building a personal brand is not a decision to be taken lightly, nor is it a one-size-fits-all solution for career advancement.
As global funding slows, MENA continues to attract investment
With Q4 typically being the strongest quarter for VC activity in MENA, we’re optimistic about what’s to come.
The post Ecosystem Roundup: MDEC unveils US$45M investment initiative | NUS, NTU to launch US$37.8M incubation programme | Bukalapak plans job cuts appeared first on e27.