[Written in partnership with Digital Penang but the editorial team had full control over the content.]
The place do you construct your community, when do you pitch your concepts, and the way do you elevate funds?
These are all nagging questions that each budding entrepreneur would have had earlier than. There’s no one-size-fits-all reply to them although, as options can fluctuate relying on what you and your startup want.
That’s a complete different factor to navigate. Understanding this, Digital Penang, a government-linked firm (GLC) owned by the state of Penang for digitalisation efforts, needs to assist bridge that information hole with these 5 upcoming occasions.
1. To construct up budding entrepreneurs – IdeaPesta 2023
Picture Credit score: Digital Penang
Open to universities and faculties within the northern area, this programme permits members to collaborate with company entities and Digital Penang.
The aim is to encourage technological ideation and innovation on the college degree and construct up budding entrepreneurs with the assist of personal corporations.
There are a number of cohorts inside a 12 months, the place members will endure two phases—ideation growth, and pitch day.
Every problem winner is then shortlisted for the Founders’ Grit Seed Programme and has the prospect to intern with company companions. This helps with expertise and community constructing that may be helpful in future endeavours.
Universities and faculties that accomplice with Digital Penang for this programme may also obtain RM10,000 sponsorship funds.
Participation standards:
Pupil or lecturer
Be at present within the subject of engineering, IT, pc science, or enterprise administration
Registration particulars: This programme is freed from cost for members.
Registration timeline: The deadline for the programme will likely be organized by the taking part universities. Will probably be primarily based on the chosen semester that the programme is launched internally on campus.
Picture Credit score: Digital Penang
2. To assist entrepreneurs construct an MVP – TechStarsStartup Weekend Penang
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Digital Penang can be collaborating with Techstars, one of many largest worldwide pre-seed traders, to convey the primary ever TechStarsStartup Weekend in Penang.
This bootcamp programme will permit members to match with potential technical or enterprise co-founders to construct a enterprise collectively in 54 hours.
Individuals will get the prospect to be nearer with skilled mentors from the tech trade and obtain teaching.
You’ll be able to count on to see well-known names within the tech scene like Daniel Cerventus Lim on the occasion, who additionally lately hosted on the BIZ Gear UP! enterprise convention final month.
However, Techstars has produced resilient startups like DigitalOcean, Zipline, and SendGrid.
This programme’s aim is to assist entrepreneurs in making a minimal viable product (MVP). They’re additionally planning to achieve out to different organisations related to youth entrepreneurship.
Participation standards:
Younger adults (ideally college students from universities, faculties, and vocational establishments) who aspire to be the following era tech entrepreneurs
Be devoted, passionate, and keen about constructing a startup within the tech trade
Registration particulars: N/A
Registration timeline: In the intervening time, this programme continues to be a piece in progress. There will likely be extra info shared nearer to its launch date on the finish of Could 2023.
3. To assist founders discover mentors – Founder Institute FI Core
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That is one other programme that helps Penang-based tech startups and entrepreneurs develop their ventures whereas receiving skilled mentoring.
In collaboration with Founder Institute, this programme goals to assist Malaysian tech startups develop on a worldwide scale. It may be fairly difficult as members will likely be working with native and worldwide mentors, in addition to Silicon Valley specialists.
The partnering firm has a confirmed observe document of build up aspiring entrepreneurs when it comes to abilities and funding. This contains startups like Udemy, Contain.AI, and Malaysia’s personal Aonic (previously often known as Poladrone), which raised USD4.29 million in October 2021.
This isn’t to say that the programme comes with assured funding. Reasonably, it assists startups in getting ready to get funding.
Nonetheless, not like TechStarsStartup Weekend Penang, the dedication interval is for much longer. The Founder Institute FI Core is a digital programme that lasts for 14 weeks and can have two phases—launch and development.
Participation standards:
Tech startups primarily based in Penang
Individuals must undergo two assessments to qualify. First a psychometric take a look at, then an evaluation by the programme’s administrators. Solely those that cross each will likely be enrolled into the programme.
Registration particulars:
Early chicken registration ends on March 19, 2023 is mounted at US$399
Regular registration previous March 19, 2023 is mounted at US$499
Registration timeline: The programme is already open for registrations and can formally shut on April 16, 2023
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4. To match younger startups with angel traders – Pitch Island
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On this programme, younger startups within the early phases of elevating funds (between RM50,000 to RM350,000) can have the chance to match up with angel traders from Penang.
The pitch session will likely be primarily based on tech verticals on the next dates:
DatesTech verticalsApril 29, 2023Creative Content material, Web3, and BlockchainJune 17, 2023EduTech StartupsAugust 26, 2023IoT, HardTech and DeepTechOctober 28, 2023Cloud, SAAS and E-Commerce StartupsDecember 16, 2023SMEs and Micro SMEs
This pilot programme goals to deal with the early-stage funding hole for startups in Penang, in addition to to construct the angel funding panorama within the state.
Individuals can count on to achieve high quality suggestions from established angel traders to additional develop their startups, enhance pitching abilities, and hopefully safe an funding curiosity.
Participation standards:
Tech startups primarily based in Penang
Have a minimal of two founders within the enterprise
Income is under RM150,000 as of FYE2022
Enterprise should be on the particular expertise vertical primarily based on the occasion session vertical being held (e.g., If that individual session is about EdTech, then solely EdTech corporations can pitch)
Registration particulars: This programme is freed from cost for members. Nonetheless, do observe that there will likely be a deadline for startups to submit their pitch deck.
Registration timeline: In the intervening time, this programme continues to be a piece in progress. There will likely be extra info shared nearer to its launch date which is but to be decided.
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5. To get stakeholders to mingle – Founders’ Meetup
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Beforehand often known as the Espresso and Curry Puff occasion, this month-to-month assembly has been gathering skilled founders, traders, mentors, and different stakeholders to share their experiences.
This 12 months, Digital Penang will likely be operating a Ramadhan Particular with two occasions.
The primary is titled “Know-how Empowerment” and can occur on March 30, 2023, starring CC Leong from My.minda and William from Twilight Foundry. The second on April 27, 2023, is titled “From Dropout to Startup Founder” and stars Thiruvengadam from Buidl Studio.
The programme is open to startup founders and the general public alike, with only one catch: you need to be eager about tech entrepreneurship.
It’s primarily one other networking/sharing session that touches on greatest practices, fundamental abilities, elevating funds, and overcoming challenges. This helps form the fitting perspective of budding entrepreneurs in regards to the actuality of tech entrepreneurism in Malaysia.
Participation standards:
Anybody enthusiastic about tech startups and entrepreneurship
Registration particulars: This programme is freed from cost for members.
Registration timeline: This programme occurs on a month-to-month foundation. members can discover extra details about upcoming occasions right here.
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For those who’re a newcomer to the scene, becoming a member of such programmes might seem intimidating, but when it’s of any consolation to you, lots of the different members may additionally be in the identical boat.
Plus, with so lots of them being free to affix, there’s no hurt find the programme that most accurately fits you and going for it. In spite of everything, the place alternative presents itself, will you remorse taking it up, or will you remorse not taking it up?
Study extra about Digital Penang right here.
Learn articles we’ve written about Malaysian startups right here.
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