GEM: Six startups enter exclusive club

PETALING JAYA: Global Entrepreneurship Movement (GEM) yesterday showcased six entrepreneurs which have been inducted into the TENxCLUB, an exclusive club that offers valuable network and entrepreneurial support on an international scale.

The members are Avana, a Facebook and mobile social ecommerce application that simplifies the buying and selling process online; Qu Exchange, an app-based exchange that facilitates the sharing of products and services among SMEs; Gameka, a mobile game development company; IGL Coatings, an eco-friendly industrial coating formulator; Tripcarte Asia, an online travel platform; and HelloGold, an online gold trading platform that enables microsaving.

Chosen from 102 companies which were nominated, the final six are either the founder, owner or majority shareholder of a startup earning a minimum of RM1 million in its first year of operation. The other criterion is that the startups nominated must be less than two years old by December 2017. As an exclusive club, members are only admitted via qualification and invitation.

Members will be sponsored to attend first-class international networking events, where they will have the opportunity to connect with various capital sources. These connections have the potential to create links for better standing to vie for funding to further expand their businesses. Ultimately, TENxCLUB aims to increase the social capital and brand presence of its members – giving them a clear edge over other industry players.

The six were unveiled at an event hosted by Tan Sri Dr Mohd Irwan Serigar Abdullah, who is the patron and founder of Global Entrepreneurship Movement with leading publishers.

“Starting your own business can be very daunting – you need to have access to sufficient capital, you have to meet and network with the right crowd, and you have to have great mentorship programmes to guide you as you struggle to survive in a highly-competitive business environment.

“This is precisely why a community of entrepreneurs is essential to provide the necessary support, not just locally, but globally as well,” said Irwan, who is also secretarygeneral to the Treasury at the Finance Ministry.