In Conversation With Shermaine Wong, Co-Founder Of Cult Creative
We speak to Shermaine Wong, Co-founder of Cult Creative on the new direction the startup, challenges faced with changing times and her aspiration to grow the creator economy.
Welcome back to Heads Up, a newsletter powered by Disruptr. The newsletter took a break and now we are back with interviews, short bites and the latest news from the ecosystem. This week, we speak to Shermaine Wong, Co-Founder of Cult Creative on the new direction the startup is taking on and bites from the ecosystem on the latest unveiling of Budget 2025.
In 2021, even when LinkedIn was making waves locally as the go-to platform for professionals seeking new opportunity, there was still a gap for some groups of professionals, particularly the creatives. So the idea of Cult Creative, a platform that connects creatives from any industry to opportunities out there.
Creatives on the platform can attach their work for showcase and at the same time, connect with like-minded creators or even those from different industries to pursue collaborations. Even coming in the form of an app, Cult Creative offered further features that highlighted workshops, mentorships and discussion events as well as a job section.
The team founded by Shermaine Wong, the late Manisha Jagan and Lina Esa continued to thrive, benefitting creatives, offering more than one way towards greater heights.
Despite achieving many milestones and having played an important role in aiding many creatives who lost their jobs during the pandemic, the team came to a decision late last year to shut down its app while announcing a pivot at the same time.
In a chat with Shermaine, the Chief Creative Officer of Cult Creative shared that the gradual move from its identity of a job platform began in May 2023. With an aim to play a more involved role, the shift focused more on the creator economy and has offered additional tools and products for users.
“We pivoted because the previous business model was not viable and sustainable. We decided to speak to our customers again to find ways to add value further. Traditional advertising is on the decline. Today, influencers are stepping up as modern storytellers.
“They create genuine connections, especially with Gen Z and millennial audiences. Consumers are not monogamous as most seek diverse experiences from multiple influencers across various platforms and types of content,” Shermaine tells Disruptr.
8 out of 10 surveyed consumers have also purchased a product or service because an influencer recommended it, yet brands, agencies and creators were not equipped to work together.
With Cult Creative’s collective experience with the creative and marketing industry, Shermaine and her team saw a gap in creating an end-to-end solution to become enablers of effective UGC ecosystems.
Shermaine also points out that with the global shift toward the creator economy, Cult Creative developed a creator marketing platform that enables brands to reach and grow their audiences effortlessly through UGC campaigns. This will also allow creators to focus on what they love most and continue to develop and grow themselves while receiving fair and timely compensation for their work.
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Thoughts On Budget 2025 From The Ecosystem
MDEC Chief Executive Officer Anuar Fariz Fadzil said that the budget provides significant support to further accelerate Malaysia’s digitalisation, encourage adoption of artificial intelligence (AI) and drive inclusive growth, further positioning Malaysia as a leading digital hub within the ASEAN region.
“The Madani Budget 2025 comes at an apt time as Malaysia prepares to chair ASEAN 2025,” said Anuar.
“With strategic initiatives in place, Malaysia is ‘future ready’ and well-equipped to drive regional collaboration in key areas such as AI, the digital economy and innovation, strengthening our role in ASEAN and beyond. The proposed budget provides incentives to both local and foreign investors to continue investing in Malaysia, especially in high- value activities including digital services,” he added.
The nation’s small and medium enterprise (SME) community also stands to benefit from initiatives to embrace digital tools for greater productivity and operational efficiencies, thereby enabling SMEs to ‘survive and thrive’ in an increasingly competitive global economy.
Novan Amirudin, Group Chief Executive Officer of CIMB Group lauded the government’s bold move to creatively expand the tax base by introducing carbon and dividend taxes and expanding the scope of SST.
“This, alongside the reduction of blanket subsidies, enhanced support for MSMEs, and implementation of strategic blueprints like the NETR, NIMP and JSSEZ will give the government more firepower to spend as needed to boost our economy, pursue shared prosperity and further spur foreign direct investments (“FDIs”),” he added.
Airbnb welcomes the new tourism-related commitments and incentives in the National Budget 2025. The provision of RM500 million dedicated to promoting tourism activities and preparing for Visit Malaysia Year 2026 is a welcome measure that will enhance Malaysia’s appeal as a preferred tourism destination, not just for 2026 but beyond.
This allocation includes cultural events, tourism activities and improving flight connectivity to Malaysia, which are crucial for boosting both domestic and international tourism.
Furthermore, the RM 110 million investment aimed at upgrading tourist areas, fostering ecotourism partnerships, and supporting Malaysia’s UNESCO nominations, such as the improvement of facilities at Taman Negara Endau Rompin, Pulau Redang, and Pantai Tusan Bekenu, is a significant step forward. Collaborations with organisations like UNDP and Habitat Foundation underscore Malaysia’s commitment to sustainable and eco-friendly tourism development, further positioning Malaysia as a leading ecotourism destination, attracting travelers from around the world who seek immersive and environmentally responsible experiences.
Additionally, the RM600 million allocated for the upkeep and enhancement of Kuala Lumpur as a cultural and creative hub demonstrates the government’s commitment to preserving and promoting the capital city’s unique heritage and appeal. Airbnb applauds the restoration and revitalization of iconic landmarks such as Carcosa Seri Negara and Bangunan Sultan Abdul Samad, which will further enhance Kuala Lumpur’s status as a vibrant destination, contributing significantly to the country’s economic growth and tourism development.=
Sandra Lee, Managing Director, ASEAN and Great China Sophos highlights :
The Malaysian Government's strategic investment of RM30 million in enhancing the National Scam Response Center (NSRC) and the National Cyber Security Agency (NASCA) is a crucial step towards safeguarding Malaysia's digital infrastructure and combating cyber threats.
This allocation will empower the NSRC to effectively protect critical assets and expand its reach in combating scam crimes, while NASCA's increased funding will accelerate the implementation of the Cyber Security Act 2024. Together, these initiatives demonstrate the government's commitment to building a resilient and secure digital ecosystem for Malaysia.
Brian Sim, Managing Director & Country Head, PERSOLKELLY Malaysia said:
The recent budget announcement emphasises the government’s dedication to improving the livelihoods of the rakyat. By implementing significant reforms, the budget aims to create a more equitable society, enhance social protection, and elevate income levels for all Malaysians.
The budget also announces a significant increase in the minimum wage from RM 1,500 to RM 1,700 starting 1 February 2025, alongside the implementation of the Progressive Wage Policy. Additionally, the government plans to strengthen the National Wages Consultative Council by introducing starting salary guidelines across sectors that consider educational qualifications, experience, and skills to ensure fair compensation.
Founders, check this out!
MYStartup, in collaboration with the Malaysian startup accelerator WatchTower and Friends (WTF), proudly announces the launch of the MYStartup Pre-Accelerator Cohort 5, aimed at discovering and nurturing promising early-stage startups across the nation. Applications are now open, welcoming pre-seed and early-stage startups from diverse sectors, with a strong emphasis on tech-driven solutions.
The programme will run from October 2024 through February 2025, providing an intensive, hands-on learning experience designed to accelerate startup growth and development. Throughout the programme, selected founders will benefit from world-class mentorship, access to cutting-edge resources, and a results-driven curriculum that sharpens their business acumen and innovation potential.
As with previous cohorts, the Top 5 startups will earn a place in an exclusive fundraising accelerator programme, providing them with the essential tools and connections to secure investment and scale their ventures beyond the pre-accelerator stage. Additionally, this latest cohort features a prize money of RM35,000, reflecting a continued commitment to supporting the growth of Malaysia’s most promising startups.
Startups looking to join the MYStartup Pre-Accelerator Cohort 5 can now apply. Don’t miss this opportunity to fast-track your startup’s success. The application deadline is 6th November 2024.
For more details and to apply, visit https://www.watchtowerfriends.com/mystartup-c5.
