Pikom, GreenPro, SEATech team up for unicorn quest
ADAQ SEA Dragon programme aims to produce home-grown technology champions
PETALING JAYA: The National Tech Association of Malaysia (Pikom) is collaborating with GreenPro Capital Corp and SEATech Ventures Corp to produce unicorn-status homegrown technology startups through the ADAQ SEA Dragon programme.
The trio will run a series of programmes over the next coming months to identify eligible tech startups to participate in the ADAQ programme supported by Malaysia Digital Economy Corp, ATA Plus, and SME Association of Malaysia.
Pikom Venture Investment Chapter, one of the six industry chapters under Pikom, will host and manage the programme to connect tech and scale-up companies with global venture capitalists, corporate investors, and high networth individuals.
Pikom chairman Sean Seah said the company has drawn up a series of programmes to identify and grow Malaysian tech companies to produce Malaysian unicorns.
“We already have the right ecosystem involving funding, training, and mentoring mechanisms for the tech companies. Malaysia is the right place to grow unicorn companies (in spite of smaller population and lower gross domestic product per capita compared with neighbouring countries) as they are technology-driven (and do not bank on population).
“Southeast Asia has a 677 million population, this is a huge market. The region is a blue ocean for unicorns and the reason the government wants to create (five) unicorns (by 2025). Things will be promising post-pandemic because everything has to be reinvented.
“Malaysia has many advantages to starting and running a business including (easy) market access to Southeast Asia, low capital to start a business, (supportive) government, technology availability, and talent,” Seah told reporters at a press conference.
GreenPro Capital Corp group CEO Lee Chong Kuang said with the proven methodology, coupled with mentoring, funding and market access, aspiring unicorns could achieve their dreams.
“Last year, we moved our headquarters from Hong Kong to Malaysia due to the future the Regional Comprehensive Economic Partnership (RCEP) holds. Although Malaysia has a small population, it is a gateway to Asean.
Asean is the dominant force in RCEP and Malaysia is the platform to tap into the whole Asean region,” said Lee.
SEATech Ventures Corp CEO Chin Chee Seong said SEATech was one of the companies undergoing the ADAQ “Asia NASDAQ” methodology and began to see early results.
“By working with Pikom and GreenPro, more startups and companies can accelerate their path towards listing in the world’s largest capital market. Besides, M&A with local companies is one of the options to scale and grow for investors,” said Chin.
In a statement, Pikom said the collaborating parties will organise five ADAQ Sea Dragon pitching sessions from March to July 2022.
“Only 15 tech companies will be shortlisted for the finals at the World Congress on IT 2022 (WCIT 2022) in Malaysia which will take place from Sept 13 to 15, 2022. It is hoped that at the closing ceremony of WCIT 2022, Malaysia will present five to 10 aspiring unicorns from the tech industry. Prior to the finals, shortlisted companies will be put through an intensive training programme to equip them for the final pitch,” it noted.
GreenPro NewFin Academy Sdn Bhd capital coach Chiu Khai Mun said three Pikom members, namely AsiaFIN Holdings Corp, Jocom Holdings Corp, and Angkasa X Group, are potential unicorn companies that have started to raise funds from investors.