IFCA MSC launches RM10m proptech accelerator scheme

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.