Malaysia’s MaGIC, Uber, Digi kick off ideation lab to groom select startups

20 participants shortlisted for the ASEAN Next Great Idea.

Malaysian Global Innovation & Creativity Centre (MaGIC) , ride hailing app Uber and telecom operator Digi have kicked off their ideation lab where 20 startups will be groomed and select ones will meet early stage investors.

The six-day initiative – ASEAN’s Next Great Idea – concludes on November 30, MaGIC said in an announcement on Tuesday.

“During the programme, the top 20 startups – shortlisted from a pool of 417 applicants – will learn how to develop three key aspects of their future business: customer, product, and market. The lab will also provide participants with direct access to the best resources in the ecosystem: MaGIC’s expertise in building entrepreneurs, Uber’s real world experiences, and Digi Incub8’s strength in startup strategy,” the announcement said.

All these will help the entrepreneurs to fine-tune their ideas or concepts and create a working prototype, preparing them for the next stage of seed investment and funding.

Following the lab stint, the top 10 participants will present their refined business ideas to key executives from MaGIC, Uber, and Digi at the Global Entrepreneurship Community event on December 8 in Kuala Lumpur.

Further, deserving ideas will have the opportunity to meet early stage investors and key players within the entrepreneurship ecosystem in San Francisco, as well as a visit to Uber’s Silicon Valley headquarters, it said.

“I hope with programmes such as ASEAN’s Next Great Idea lab, more and more individuals are encouraged to come forward with their ideas and develop them further. The emergence of new ideas is what keeps our entrepreneurship ecosystem growing,” said MaGIC CEO Ashran Dato’ Ghazi

ASEAN’s startup ecosystem will continue to thrive with ideas that can dramatically shape people’s digital lifestyles with their smart devices, said Digi’s Chief Digital Officer Praveen Rajan.

“The ambition now is to help translate the growth potential of these ideas and startups into creating long-term, sustainable businesses,” he added.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.