KPMG, MDEC Aims to Help 20 Malaysian Startups Achieve Unicorn Status by 2025by Fintech News Malaysia March 14, 2023 0 comments
KPMG Malaysia will be supporting Malaysia Digital Economy Corporation’s (MDEC) Founders Centre of Excellence (FOX) programme to help Malaysian tech companies achieve unicorn status by 2025.
Through this collaboration, KPMG will provide customised consulting and advisory support covering areas such as market insights, technology updates, risk management, governance, regulatory compliance, and more, depending on the needs of the company.
The 20 shortlisted companies in the FOX programme are those that are privately held in Malaysia as well as have recorded revenue above RM20 million or raised Series A or have a strong 3-year growth track record.
Leveraging on MDEC’s support and KPMG’s consultative guidance, the collective goal is to nurture the progress of these startups over the next two years so they can scale their businesses.
The FOX programme sits under the new national strategic initiative, Malaysia Digital, which seeks to grow the digital capacities and capabilities of the nation as well as raise the overall ecosystem value.
Datuk Johan Idris, Managing Partner of KPMG in Malaysia said,
“There is tremendous potential for homegrown companies to grow beyond our 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 startups 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,”
Ts. Mahadhir Aziz, CEO of MDEC shared,
“MDEC’s objective is to grow five unicorns out of Malaysia by 2025 by focusing on a 2-pronged 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.”