A Malaysian government linked agency, tasked with fostering and developing a vibrant startup ecosystem, plans to launch a comprehensive dataset of startup activity, by next month.
Malaysian Global Innovation and Creativity Centre (MaGIC) which is setting up its ‘Startup Database’ as part of its 2015 game plan, has also seen a few hundred firms being uploaded to this platform, with about 350 investors in a distribution list, its chief executive Cheryl Yeoh.
Of the total of investors on the list, about 60 per cent are foreign-based.
“The database will give high-growth startups visibility because currently most do not know who they are and where to find them,” Yeoh said during a briefing after releasing MaGIC’s impact report. (MaGIC launched its Year One impact report on Tuesday, noting the initiatives carried out over the past 12 months.)
On its website, MaGIC has pointed out that the database will come in handy for investors and the public to track the number of high growth startups in a country, records of funding raised, exit history, and their progress. The database will also make it easier for MaGIC and other agencies to assist startups and funnel parties to the right resources.
Yeoh said that in 2015 will see MaGIC continue with the initiatives and programmes it launched in 2014.
Among those are growth-stage accelerator Project Cerebro, coding bootcamps, the MaGIC Central resource centre, the MaGIC Academy, e@Stanford, Startup Asia Jakarta, Social Entrepreneurship Amplify Awards, MaGIC Bumipreneur and Outreach beyond Klang Valley.
Yeoh said that this year, the agency will put more effort into reaching smaller towns and areas beyond the Klang Valley in Malaysia.
“We didn’t have the resources and the team to go into the rural areas last year, but now that we have grown, we can,” she told DEALSTREETASIA on the sidelines.
Last year, MaGIC brought selected startups which were ready to expand in Singapore and Indonesia to attend conferences in the respective countries. Under the Startup Asia initiative to encourage regional exposure, the agency may look to bring startups that are ready to grow in Thailand to attend conferences in that country this year.
“We may look at Thailand for the Startup Asia initiative depending on the market and partners we can get, although we will definitely continue with Jakarta,” she added.
MaGIC will however, look to downsize the group it will bring over to the Silicon Valley this year, under the e@Stanford programme.
It brought over 50 people each to the US in February for a two-week entrepreneurship programme but Yeoh said the agency is considering bringing only about 40 people this year.
This year, one of MaGIC’s highlight programme is the MaGIC Accelerator Programme (MAP) which has thus far attracted 630 applicants from Asean, most of which came from the Philippines, followed by Singapore, Indonesia, Vietnam and Thailand.
MAP is slated to run its first four-month programme this July.
Under the MaGIC Academy, the agency has trained 13,800 entrepreneurs to lead high-growth startups.