Microsoft, MDEC and MaGIC Co-Launch Highway to a 100 Unicorns Initiative for Tech Startups

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Date : 19-Oct-2020
Location: Kuala Lumpur

Organization:

  • Microsoft,enables digital transformation for the era of an intelligent cloud and an intelligent edge.
  • Malaysia Digital Economy Corporation (MDEC), is a government agency under the purview of the Ministry of Communications and Multimedia Malaysia entrusted to lead Malaysia's digital economy forward.
  • MaGIC,discovers and empowers technology startups and social innovators through creativity, innovation and technology adoption, and develops a vibrant and sustainable entrepreneurship ecosystem in Malaysia.

Key Takeaways:

Microsoft Malaysia in partnership with the Malaysia Digital Economy Corporation (MDEC) and the Malaysian Global Innovation & Creativity Centre (MaGIC) have launched the Highway to a 100 Unicorns initiative, as part of a joint effort to strengthen the nation’s startup ecosystem and empower local startups with mentoring, technology, and access to enterprise clients. 

Offering:

100 Unicorns initiative:

  • Regional recognition.
  • Intensive year-long mentorship program with Microsoft for Startups.
  • Opportunity to join Microsoft ScaleUp program.
  • All Emerge X startups will be awarded free GitHub and Azure credits. 

 Spokepersons:

  • K Raman, Managing Director of Microsoft Malaysia,said, startups are innovators, disruptors and first-movers; besides, they can be instrumental in helping Malaysia to achieve economic recovery and resiliency;therefore, Microsoft aspires to help them scale globally.
  • Surina Shukri, Chief Executive Officer of MDEC,said, Kuala Lumpur has been recognized as the 11th emerging startup ecosystem in the world by Startup Genome,thus,MDEC is firmly committed to assist local tech startups in their fundraising journey.
  • Dzuleira Abu Bakar, Chief Executive Officer of MaGIC,said,the initiative focuses on impact-driven innovations and inclusivity;it offers participants with industry-led mentorship and guidance, as well as global collaborations.

Insights:

  • The top finalists from Malaysia will be announced in November, joining other shortlisted innovators and entrepreneurs from 16 other Asia Pacific countries, including Bangladesh, Bhutan, Brunei, Cambodia, Indonesia, Laos, Malaysia, Maldives, Myanmar, Nepal, New Zealand, Philippines, Sri Lanka, Singapore, Thailand, Vietnam.
  • Criteria for startups to apply for Emerge X is as follows:
    • Business-to-Business companies with product-market fit, revenue generating with at least 3-4 clients.
    • Business-to-Customer companies with a large customer base (upward of 100K customers) and are revenue generating.
    • Funding is a plus.
  • Applications close on 31 October 2020.

Best Practices:

Startup to strive to achieve the following before proceeding to apply for funding:

  • Business-to-Business companies with product-market fit, revenue generating with at least 3-4 clients.
  • Business-to-Customer companies with a large customer base (upward of 100K customers) and are revenue generating. 

Editor's comments:

  • Startups who are eligible should apply, because Microsoft will help to co-sell,promote and scale globally.
  • To those with series A funding, Microsoft will be able to help with securing series B funding.
  • If you fit the description, please apply - startups are only required to commit to 3 days of Founder Bootcamp whilst enjoying a year-long mentorship program with Microsoft - with technical and business deep dives.

 

Highway to 100 Unicorns


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