Presently, there are more than 1,200 unicorns globally, according to Jan data from CBinsights. The number of unicorns a country has, is often used as a proxy for how robust its startup ecosystem is. mymdec kpmg_malaysia
Decision on which 20 companies picked will be made in MayPresently, there are more than 1,200 unicorns globally, according to Jan data from CB Insights, a market intelligence firm that tracks venture capital and startups globally. The number of unicorns a country has, is often used as a proxy for how robust its startup ecosystem is.
While MDEC declined to comment about how the companies will be picked and who will be involved in the selection process, DNA has learnt that all 20 companies will be announced in one month with the 20 companies selected from a pool of around 30 companies MDEC has identified. To be eligible, companies must be headquartered in Malaysia and have a digital technology platform or service as a core offering. Additionally, they must have raised at least Series A funding with revenue exceeding US$4.5 million a year. The companies selected by MDEC will include those involved in SaaS, AI and IoT, Fintech, Insuretech, Healthtech, E-commerce, Proptech and IC Design.
KPMG will provide customized consulting and advisory support for a period of two years expected to start around June 2023 once the companies have been selected.
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