TL;DR – GEM partners up with PIKOM’s Venture Investment Chapter (VIC) to offer investment opportunities of up to RM 100million for TENxCLUB. TENxCLUB is an initiative launched by GEM and is designed to recognize 10 high performing Malaysian startups that hit at least RM 1million in revenue within the first year of inception. Members will receive comprehensive mentoring support on top of sponsored exclusive networking events to open up opportunities of connecting with key industry players. PIKOM chairman recognizes startups’ contribution to economic growth and aims to assist local entrepreneurship through extending financial help as well as market and technical assistance.
Winning entrepreneurs under Global Entrepreneurship Movement (GEM)’s TENxCLUB can now ramp up their game as the recent partnership between the GEM and The National ICT Association of Malaysia (PIKOM) will see investments opportunities of up to RM100million.
The investment, parked under PIKOM’s Venture Investment Chapter (VIC) is aimed to further strenghten entrepreneurial efforts and maximum benefits for the 10 winning entrepreneurs.
The TENxCLUB Challenge is an initiative launched by GEM and is designed to recognize 10 high-performing Malaysian startups that hit at least RM1 millionin revenue within the first year of its inception and maintains its exclusivity via a by-qualification and invitation only entry.
Ministry of Finance Secretary-General of Treasury Tan Sri Mohd Irwan Serigar, who is also the founder and patron of GEM lauded the partnership, inked on 7 September, saying it was in line with GEM’s mission to bring together the entrepreneurial ecosystem here in Malaysia.
“It is our bounden duty to fully maximise winning benefits of our TENxCLUB members and by establishing linkages with various public and private agencies and entrepreneurs’ communities, club members will gain access to investors, strategic partners and ultimately create a strong customer base,” Irwan said.
PIKOM chairman Chin Chee Seong said start-ups plays a vital role in generating economic growth and employment opportunities as well as creating traction in innovation, technology and competition.
“A nation benefits from a vibrant business community and PIKOM’S VIC is intended to assist local entrepreneurship take ICT-related ventures to grow further by extending financial help as well as market and technical assistance,” Chin added.
The TENxCLUB members will receive comprehensive mentoring support on top of sponsored exclusive networking events to open up opportunities of connecting with key industry players.
The club members can expect to learn new innovative strategies to boost their business and ultimately increase social capital and brand presence of the entrepreneurs.
GEM was launched on 7 March 2016 and to-date, has over 10,000 affiliate members, 24 corporate members and 18 committee leaders.