by AKMAR ANNUAR

KPMG in Malaysia are collaborating with the Malaysia Digital Economy Corporation (MDEC) to empower 20 homegrown startups through MDEC’s Founders Centre of Excellence (FOX) programme.

MDEC Chief Executive Officer (CEO), Mahadhir Aziz said MDEC’s objective through FOX is to grow five unicorns out of Malaysia by 2025 by focusing on a 2-pronged strategy.

“The strategy, namely capability building and enhancement programs for all tech founders that are looking to accelerate their growth, and customised support through six key pillars of the FOX intervention that includes policy intervention, business expansion, high-value investment, amplification and consultancy, talent acquisition and mentoring,” noted Mahadhir in his speech which was read by MDEC’s Senior Vice President (Head of Export), Gopi Ganesalingam.

MDEC is also confident their collaboration with KPMG will benefit these 20 startups by providing them with the right knowledge, tools and support that will enrich their business growth journey.

Meanwhile KPMG Malaysia’s Managing Partner, Datuk Johan Idris said Malaysia as a nation has all the right ingredients for technology companies to grow, supported by modern infrastructure, progressive policies for business, skilled workforce, a tech savvy customers base as well as geographic proximity to a fast-growing Asia Pacific region.

He added that the nation has tremendous potential for homegrown companies to grow beyond its border and make their mark in the global map.

“KPMG is proud to play our part, working closely with MDEC to help these 20 high-potential start-ups reach their true potential.

“Having been part of Malaysia’s history since 1928, we at KPMG are ready and excited to contribute towards building up our national heroes one success story at a time,” he said.

This latest collaboration draws KPMG’s support towards MDEC’s FOX programme, guided by the new strategic initiative of Malaysia Digital (MD).

Moreover, through this collaboration, KPMG will provide customised consulting as well as advisory support covering areas such as market insights, technology updates, risk management, governance, regulatory compliance, and more, depending on the needs of the company.

At the press conference, both parties shared that the shortlisted companies participating in privately held FOX programmes are in Malaysia and have demonstrated a strong growth track record measured by having revenue above RM20 million or raised Series A or have a strong 3-year growth track record.

MDEC and KPMG agreed that the collective goal is to nurture the progress of these startups over the next two years so they can scale their business and ultimately deliver lasting economic impact for Malaysia in the form of high skill, high value jobs creation, revenues, and exports.