IFCA MSC launches RM10m proptech ac­cel­er­a­tor scheme

The Sun (Malaysia) - - SUNBIZ -

PE­TAL­ING JAYA: IFCA MSC Bhd has launched a RM10 mil­lion ac­cel­er­a­tor pro­gramme to nur­ture and de­velop lo­cal proptech (prop­erty tech­nol­ogy) com­pa­nies by pro­vid­ing fundrais­ing, busi­ness net­work­ing and men­tor­ship.

The prop­erty in­dus­try in­te­grated so­lu­tions provider said in a state­ment that the pro­gramme, which is con­ducted in col­lab­o­ra­tion with Google Cloud, will iden­tify 10 com­pa­nies within the proptech space and nur­ture them to achieve global scale.

“The short­listed com­pa­nies will be able to work with IFCA MSC’s ex­perts to fine-tune their so­lu­tions and de­velop new proptech so­lu­tions that will dis­rupt the real es­tate in­dus­try,” IFCA MSC said.

Recog­nis­ing the im­por­tance to grow and scale in tan­dem with the mar­ket and clients’ ever-chang­ing needs, IFCA MSC is look­ing to take a stake in com­pa­nies join­ing the IFCA Ac­cel­er­a­tor Pro­gramme.

“IFCA MSC aims to foster in­no­va­tion and growth of proptech in Malaysia, and to iden­tify new ideas that we can in­te­grate. With a strong cash re­serve stand­ing at RM69.6 mil­lion as at June 2017, we are ready to in­vest in strate­gic proptech tech­nolo­gies that could in­te­grate and scale with IFCA MSC’s busi­ness and so­lu­tions,” said Michael Cho, CEO of IFCA MSC.

On Bursa Malaysia yes­ter­day, IFCA MSC gained 2.5 sen or 6.9% to close at 38.5 sen on vol­ume of 14.68 mil­lion shares.

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