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 Business

World Startup Festival opens first Asian hub in Malaysia

8th August, 2018

PETALING JAYA: World Startup Festival (WSF), a US-based connector and incubator of startup businesses around the world, is partnering with Webe Digital Sdn Bhd to open the first WSF Labs in Asia here.

Its President, Freda Miriklis, said Malaysia was chosen as its Asian hub due to the country’s dynamic ecosystem; hence it could be a focal point to build new startup champions.

“We are looking for quality startups, not quantity, as we want them to excel and the key to success of every startup is cross-border market expansion. We want them to excel by 2023 for both regional and international markets,” she said at the launch of the WSF Labs at the Webe Digital building here on Tuesday.

Miriklis said WSF was founded on a strong belief that startups needed not just investors but a self-sustaining community comprising investors, corporations, government and civil society.

“We hope to find good ideas that can be developed with other partners in the ecosystem and can further accelerate the technology,” she added.

Meanwhile, Webe Digital Chief Executive Officer, Moharmustaqeem Mohammed, said Webe hoped to get at least 20 local startups for the first three-month cycle of the programme.

“Startups under the programme would also have the opportunity to be exposed to our technology, besides utilising the free working space here which could accommodate about 100 people or 20 to 30 start ups at a time,” he said.

WSF is a global non-profit organisation based in California that brings startup ecosystems across the globe through training and mentorship, cross-border collaborations and market expansion of startups at different levels of growth. –Bernama

   
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