Endeavor Malaysia has a third startup, Aemulus, lined up for Endeavor’s International Selection Panel (ISP) in Istanbul, Turkey next week.
If selected, Aemulus Corporation Sdn. Bhd, a radio frequency testing equipment developer, will join the likes of GridMarkets and Juris Technologies, the two Malaysian startups that already have an international dedicated advisory board to mentor them and help propel their business, said Zaman Ahmad, managing director, Endeavor Malaysia.
Endeavor Malaysia identified Aemulus earlier this year, confident of the startup’s growth in international markets. The company develops testers for the automotive test equipment market, specialising in discrete, power, linear, radio frequency and mixed-signal semiconductor device. The startup, which is in competition with bigger names like Agilent, Texas Instruments and Hewlett Packard, has already carved out market share of 10% in an industry with an estimated global market size of $300mil, said Zaman.
The startup’s technology forte is its speed and design that does not compromise on accuracy, he added. “They have made their (equipment) lighter, with faster processing,” he said, explaining that the equipment was used for testing telecommunication tower coverage.
Aemulus was started in 2004 by four young engineers from Penang – the ‘Silicon Valley of Malaysia’.
New York based Endeavor Global Inc is a global nonprofit organization (with affiliates all over the world) that helps to identify and support high-potential or high-impact entrepreneurs in the emerging and growth markets.
Endeavor Malaysia, like other Endeavor affiliates world over, targets to have four startups selected at the international panel every year. Zaman admitted that the target was a challenge for Endeavor Malaysia in its inaugural year, and said it was more realistic to target three startups for 2014. “We have screened 180 companies, met with 80 of the founding teams, are talking to 25 of them and thus far, have two selected at the international panel,” he informed.
Endeavor conducts five international selections every year, hosted in various parts of the world. Worldwide, there are 110 entrepreneurs under the Endeavor programme at the moment.