Selangor Information Technology and Digital Economy Corporation (Sidec) celebrated a significant milestone with the launch of the Selangor E-Commerce Xccelerator (ECX) 2023 and the eagerly anticipated 6th cohort of the Selangor Accelerator Programme (SAP) 2023 edition.
The opening ceremony, graced by Dato’ Seri Amirudin Shari, Selangor Chief Minister, featured the unveiling of shortlisted applicants for both programs. Distinguished guests included Teo Nie Ching, Deputy Minister of Communications and Digital, Ng Sze Han, Selangor State Executive Councillor for Investment, Trade & Mobility, Saipolyazan Bin Mat Yusop, Chief Operating Officer of MBI Selangor, Dato’ Hasan Azhari Bin Haji Idris, CEO of Invest Selangor, Dato’ Paduka Syed Mashafuddin Syed Badarudin, CEO of Affin Islamic Bank Berhad, and Yong Kai Ping, CEO of Sidec.
Affin Bank sponsored these initiatives by Sidec, aimed at propelling Selangor to the forefront of the digital economy, positioning it as ASEAN’s digital hub. By nurturing startups, fostering innovative e-commerce solutions, and building a robust support system for budding entrepreneurs, Sidec envisions a thriving ecosystem where tech-driven enterprises can flourish and redefine business landscapes not only in Selangor but throughout Malaysia.
Winners of ECX23 and SAP23 awards will gain entry into the CXO Club, an exclusive enclave of premier businesses. Members of this growth-oriented club will benefit from networking opportunities within an affluent community, forging valuable connections leading to new ventures and partnerships.
The CXO Club also offers mentorship from 24 seasoned entrepreneur leaders who have navigated public and ACE market-listed companies, orchestrated substantial fundraising, and nurtured unicorns. They will serve as mentors and guides, illuminating the complex pathways of industrial evolution.
“We are at a pivotal moment in our digital journey,” stated Yong Kai Ping, CEO of Sidec. “These programs are more than just opportunities for growth; they are part of a larger vision to make Selangor the heart of tech innovation in ASEAN, with a focus on emerging tech innovations like AI and Biotech, reflecting our commitment to embracing the future of business and ensuring that Malaysia leads in technological advancement.”
The event, jointly organized by Sidec, Affin Bank, and Invest Selangor Berhad, involved collaboration with esteemed partners. Razer Merchant Services served as the Strategic Payment Partner, while Lazada stood as the Strategic E-Commerce Partner. Other strategic affiliations included Pos Malaysia, EasyStore, Mystatr, Locus-T, Wilstech, Autocount, AWS, Microsoft, Bioeconomy Corporation, Permodalan Negeri Selangor Berhad, and The Hive Southeast Asia.
These initiatives received unwavering support from partners including MDEC, Endeavour, NexMind, Swipey, Oval, Sprii Commerce, Work, ValuingIP, and Rtist.
Syed Mashafuddin noted the importance of equipping SMEs with the tools and encouragement they need for sustainability and digitalization transformation momentum. He expressed gratitude for being the main sponsor of ECX23 and SAP23, reaffirming their commitment to SMEs and their digital business journey.
ECX23: Accelerating Growth, Empowering Entrepreneurs
The Selangor E-Commerce Xccelerator (ECX23) offers e-commerce entrepreneurs, business owners, and founders a pioneering initiative. It equips them with essential tools through intensive workshops, pitching clinics, and insights to navigate the competitive digitally-driven market, while providing exposure to funding and investment opportunities, network building, market access visibility, and mentoring sessions.
The top 30 SMEs were shortlisted based on stringent criteria, including annual Gross Merchandise Value (GMV) ranging from RM500,000 to RM10,000,000. Participants should be founders or co-founders of their businesses.
Upon program completion, participants stand to win cash prizes and international trips, offering opportunities for business expansion and networking.
SAP23: A Launchpad for Future Startup Unicorns
The 6th cohort of SAP23 underscores Selangor’s commitment to driving innovation within startups, focusing on verticals like sustainability impact, healthtech, agritech, and the newly added realms of artificial intelligence (AI) and biotech.
The program, championed by Sidec, offers early-stage tech startups unparalleled advantages, including mentorship, training, networking opportunities, establishing Selangor as a tech advancement epicenter.
The 38 participating startups will benefit from perks like US$10,000 in Amazon Web Services (AWS) cloud credits, a prime exhibition slot at the esteemed 8th Selangor Smart City and Digital Economy Convention (SDEC) 2023, and co-working space access at Selangor Sandbox.
The top 10 winners from SAP23 will share a prize pool worth RM200,000, offering cash prizes, global recognition, international market exposure through field trips, and investment opportunities.
For more information, please visit www.sidec.com.my/ecx/ for ECX23 and www.sidec.com.my/startup/sap2023/ for SAP23.
