Entrepreneurship is a form of mindset and not a career choice
Welcome back to an all-new Head’s Up. Recently the team received an invitation to the Stripe and Gobi Partners’ Pitching, Networking and Lunch event. The networking session saw a diverse group of startup founders along with ecosystem supporters from MRANTI, MDEC and Endeavor Malaysia among others.
Kicking off the session with a Fireside Chat, Co-founder of PolicyStreet and recently titled new President of the Fintech Association of Malaysia, Wilson Beh shared a couple of insights and challenges he gained and faced as an entrepreneur.
“Entrepreneurship is a form of mindset and not a career choice. One has to be more resourceful, have the greed for success and definitely be able to punch beyond the weight,” he said.
Beh also urged entrepreneurs to be able to capitalise on opportunities rather than just contain them, highlighting the need to be persistent and resourceful. These traits enabled him to identify trends and as a result, insurtech caught his attention. While the field was not compelling at the time, Beh found it to be a lucrative and efficient industry. Enough to push him to leave banking,
Beh and his team at PolicyStreet were early fintech adopters in the country and now through his role as President of FAOM, he is keen to accelerate the growth of the industry in the country. Particularly in the areas of digital banking, digital insurance, payments, and technology enablers among other areas.
PolicyStreet which secured a RM25 million funding has also secured an in-principle approval for a combined Reinsurance and General Insurance license from the Labuan Financial Services Authority.
This will essential enable the team at PolicyStreet to push boundaries and develop innovative insurance products to cater to the fast-growing needs of the digital economy in the region.
Beh has also expressed his commitment to make the entire industry more inclusive and says the next 12 months are critical as the digital insurance industry heats up.
“How do we make strategic moves when we are at the forefront of change. It’s all about enhancing value for our consumers and wholesale business. Time is never more opportune,” he said.
For more information on PolicyStreet, visit here
Pictures from the event
Back to business. Here are a couple of interviews and news we have been covering for the past week.
Aaron Sarma: Good Unit Economics And Sound Business Models Key To Attracting Savvy Investors
We chat with Aaron Sarma, General Partner of ScaleUp Malaysia on the accelerator’s recently concluded Cohort 3 which announced investments into 11 startups. He shares his thoughts on the highlights of the cohort, how have things changed since Cohort 1 and what can founders expect from Cohort 4.
For further reading, click here
Shell Malaysia Set To Acquire 50% Of Parkeasy
Shell Malaysia Trading Sdn Bhd announced today that it has agreed to acquire 50% shareholding in Pixelbyte Sdn Bhd, the company operating ParkEasy – a mobile application software that not only lets drivers park quickly in shopping malls and other locations, but also the only service in Malaysia to offer a pre-booked slot for EV Charging.
This investment will be Shell’s first investment in a local Malaysian tech start up. This investment gives Shell an immediate path to an established parking and e-mobility platform in Southeast Asia.
For further reading, click here
MDEC’s First Business Mission To Indonesia Garners Over RM100 Million In Qualified Digital Opportunities
Malaysia Digital Economy Corporation (MDEC), through its recent Business Mission to Indonesia, has garnered over RM100 million in qualified digital opportunities. This is MDEC’s first Business Mission to Indonesia since borders were reopened on March 2022.
Held from 16 to 20 May 2022 in Jakarta, the Business Mission is an extension of MDEC’s GAIN Programme (Gateway, Amplify, Investor, Nurture), which serves to accelerate local technology companies to the global stage.
For further reading, click here
foodpanda and DOC2US Collaboration Set To Roll-Out Nationwide Screening Programme For Delivery Partners
foodpanda has entered into a partnership with Malaysia’s first e-prescription service provider, DOC2US, to provide health screening for foodpanda delivery partners. The nationwide programme will roll out in phases, beginning this month with more than 3,000 delivery partners in Penang and Johor.
Commenting on this collaboration, Kelvin Chan, Director of Operations, foodpanda said that it is a pleasure to be able to partner with DOC2US once again in its efforts to safeguard the health of its delivery partners.
For further reading, click here
Events
By joining the Selangor Accelerator Programme (SAP) 2022, you will also get to enjoy a variety of other perks, apart from the chance to be in a dynamic ecosystem that supports and nurtures your startup!
SAP is committed to providing our local startups with the necessities it needs to thrive in today’s competitive market. Say YES to all these perks!
🚀 Charge up YOUR startup and take it further!
📍 APPLY NOW: www.sidec.com.my/sap2022
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Deadline: 13 June 2022
The Carsome Mobility Lab is now open for applications! Co-organized by Carsome and Sunway iLabs, the Carsome Mobility Lab is a 4-month accelerator that focuses on funding, supporting and scaling startups that are disrupting the auto ecosystem.
Applications close on the 4th of July 2022.
Whether it’s a feedback or if you would like us to put your story out there, reach out to us via disruptrpr@gmail.com