1337 Ventures Launches First ECF Accelerator

(Digital News Asia, May 2022) The funding options for Malaysian SMEs and growth-stage businesses have now evolved beyond bank loans, grants, schemes, angel investors and venture capitalists. Equity Crowdfunding (ECF) is gaining popularity as a new and viable way for businesses to raise funds.

To wit, Securities Commission Malaysia (SC) Annual Report 2021 showed total ECF funds raised last year increased to US$50.4 million (RM221.63 million) from US$29 million (RM127.73 million) in 2020.

To tap its full potential, 1337 Ventures, together with Leet Capital introduced the ECF Accelerator Programme, a fundraising bootcamp with the goal of cultivating business founders to be well prepared and well rounded to raise funds via ECF. This is believed to be the first such accelerator in SEA.

This first ever programme is supported by Crowe Malaysia, Zico Law, Malaysian Investment Development Authority (MIDA), Malaysia Digital Economy Corporation (MDEC) and Supernewsroom. Among the topics covered during the four-week programme were how to conduct a business valuation, the types of legal instruments required for an ECF raise, the types of grants currently available, what constitutes a good media story, and more.

The bootcamp recently concluded with its inaugural Demo Day, during which participants pitched to judges from prominent investment firms such as The Hive SEA, Tenggara Capital, Gobi Partners, Malaysia Debt Ventures, Kairous Capital, and Rosewood Capital, as well as Suresh Thiru, former CEO of SEEK Asia and seasoned angel investor.

The top two winners were Unearth Sdn Bhd and QueueMed Sdn Bhd. “Through the ECF Accelerator Programme, we managed to gain the attention of some of the most reputed venture capitalists in Malaysia. Doing it alone would have been impossible!” shared Johnson Goh Han Swee, CEO of Unearth.

Don't miss these stories:

April 12, 2023

12 Malaysian Tech Startups Shortlisted for Pitch Malaysia USA Series

Selangor Information Technology and Digital Economy Corporation (SIDEC), will be taking 10 Malaysian

March 23, 2023

Temasek’s Sheares Healthcare backs Asia-focused mental health startup Thoughtfull

Thoughtfull has raised $4 million in a pre-Series A round led by Sheares Healthcare Group.

March 19, 2023

Sunway LaunchX 2023 to Accelerate Student Founders

“LaunchX - The University Startup Accelerator Programme” was officially launched Dato' Dr. HJ Megat.

May 16, 2022

SSDU, The Hive ink MoU to create AI-based tech startups in Selangor

The Selangor government and The Hive Southeast Asia (THSEA) have inked a memorandum of understanding

April 27, 2022

Payd Raised US$1.7m in a Seed Round

Payd, a Malaysia-based earned wage access service, has raised US$1.7 million in a seed round.

April 18, 2022

Sunway iLabs Partners Carsome to Launch Accelerator Programme

SUNWAY iLab has partnered with Carsome to launch Malaysia’s first auto ecosystem accelerator