TL;DR – At Global Entrepreneurship Movement (GEM), your business can get more access to the market and potential investors, when you are in TENxCLUB.
The Global Entrepreneurship Movement (GEM) announced the winners of the TENxCLUB yesterday – an initiative by GEM designed to recognize ten high-performing Malaysian startups that hit at least RM1 million in revenue at the end of their first year since inception.
An invitation-only and by-qualification, TENxCLUB is an exclusive club that offers valuable network and entrepreneurial support on an international scale. Designed with the success of the entrepreneurs in mind, this exclusive club aims to offer scalable startups access to tremendous resources and support network to become viable and to grow quickly.
“This year’s winners reflect the outstanding and innovative abilities of the Malaysian businesses and entrepreneurs. Through the exclusive TENxCLUB, the winners will have an opportunity to connect with investors, strategic partners and more importantly, gain entry to create a stronger base of customers regionally and internationally,” said Patron and Founder of GEM, Tan Sri Dr. Mohd. Irwan Serigar, who is also the Secretary-General of Treasury at the Ministry of Finance, Malaysia.
Winners of the TENxCLUB will receive comprehensive mentoring support from experienced industry players, including a GEM-PIKOM partnership which aims to increase investment opportunities of up to RM100million through its Venture Investment Chapter. Additionally, they will also be sponsored to attend exclusive networking events, which gives them an opportunity to connect with key industry experts and learn innovative strategies and best practices to help them grow their businesses. Ultimately, TENxCLUB will help increase the social capital and brand presence of entrepreneurs – giving them a clear edge over other industry players.
To ensure that the entrepreneurs selected meet the requirements and standard of the TENxCLUB; submissions are verified by a panel of judges including Patron and Founder of GEM Tan Sri Dr. Mohd. Irwan Serigar, President of GEM, Dash Dhakshinamoorthy, Deputy President of GEM, Deborah Melissa Bottreau, CEO of Malaysia Debt Ventures Berhad (MDV), YBhg Datuk Zubir Ansori Yahaya, CEO of MAVCAP, Jamaludin Bujang, CEO of Media Prima TV Networks, Johan Ishak, Chairman of Standard Chartered Bank Malaysia Bhd., Datuk Yvonne Chia, PIKOM Treasurer and CEO of BIMBIT.com, Sean Seah and Co-founder of PitchIN, Kashminder Singh.
“Prior to extending an invitation to join the TENxCLUB, we will request for private incubators, accelerators, investors, venture caps, banks, equity funds, universities, communities and relevant public agencies to nominate potential entrepreneurs. From 102 nominees, we then shortlisted entrepreneurs that meet our criteria to submit their applications. Submission of proof that are required from them include audited account, management account, growth projection and valuation from investment – that were all further audited by Ernst and Young. 16 finalists were then called for a final interview with the panel of judges before officially being selected as one of the TENxCLUB fellows,” explained President of GEM, Dash Dhakshinamoorthy.
This year, winners of the TENxCLUB include an ecommerce startup, Avana, an app-based exchange that facilitates the sharing of products and services among SMEs, Qu Exchange, a mobile game development company, Gameka, eco-friendly coating developer, IGL COATINGS, travel online platform, TRIPCARTE ASIA, and an online gold platform, Hello Gold.