KUALA LUMPUR, 5 November 2024 – The Selangor Information Technology and Digital Economy Corporation (Sidec) proudly concluded the second cohort of the Selangor E-Commerce Xccelerator (ECX) 2024 with an inspiring Final Demo Day and Awards Ceremony, held today at the Securities Commission Malaysia Auditorium. This year’s program showcased 20 exceptional Malaysian e-commerce SMEs, each presenting innovative, retail-tech-driven solutions developed over the rigorous four-month accelerator program.
ECX24 has been designed to empower 50 shortlisted SMEs with the skills and insights required to thrive in the digital economy. Through expert-led workshops, industry visits, CXO networking, and one-on-one mentorship, participants received hands-on training in digital transformation, growth strategies, and retail tech application. The program’s commitment to equipping entrepreneurs with comprehensive knowledge spans across multiple sectors, including Food & Beverage, Home Living, Fashion & Lifestyle, and Health & Beauty.
The ECX 2024 Final Demo Day recognised the Top 10 Winners, each celebrated for their innovation, scalability, and potential to drive transformation in Malaysia’s e-commerce and retail tech landscape:
WELLNESS COSMETOLOGY ALLIANCE LAB SDN BHD
NASI LEMAK NALE SDN BHD
OMINENT SDN BHD
EARTHEORIES SDN BHD
GELATOMIO PRODUCTION SDN BHD
SAUDAGAAR ASIA SDN. BHD.
KIMYRA INTERNATIONAL SDN BHD
NATUGEE SDN BHD
MCCKT VENTURES SDN BHD
NAZA BEYOND VENTURES
Winners received exclusive opportunities, including an overseas business trip to ByteDance’s headquarters in Shanghai, China, in collaboration with TikTok Shop. This unique experience offers invaluable international exposure, providing winners with insights into global e-commerce trends and networking opportunities at ByteDance’s renowned offices. Alongside this, winners also received cash prizes, further supporting their journey in the digital economy. These awards align with Sidec’s vision to position Selangor as a leading digital and entrepreneurial hub in Southeast Asia.
Mr. Yong Kai Ping, CEO of Sidec, expressed his enthusiasm for this year’s program: “The ECX 2024 Final Demo Day exemplifies Selangor’s dedication to supporting innovation in retail tech and digital commerce. These participants embody the resilience, creativity, and forward-thinking mindset needed to drive Malaysia’s economy forward.”
During the four-month Selangor E-Commerce Xccelerator (ECX) 2024, participants went through an intensive program designed to elevate their business capabilities in the digital and retail tech landscape. They engaged in expert-led workshops covering digital transformation, advanced growth strategies, and branding, all tailored for the modern e-commerce market. Participants also benefited from personalised mentoring sessions, where industry leaders offered guidance on refining business models and strategies. The program included industrial visits, networking events with CXOs, and pitching clinics to hone their presentation skills. These experiences prepared participants for the Demo Day, equipping them with the tools to scale and compete in the digital economy.
The success of ECX24 was made possible through collaborations with key partners who also served as mentors, guiding participants through valuable learning experiences. Sidec extends its gratitude to Affin Bank, the main sponsor, and other strategic collaborators including WORQ, TikTok Shop, AEON, Shopline, and Pos Malaysia. This collective support exemplifies a united effort to foster a resilient digital economy in Malaysia.
The panel of distinguished judges, who played a pivotal role in evaluating the pitches, included industry leaders such as:
Subash Palaniappan, Founder & CEO of Unstructured
Sam Shafie, Founder & CEO of pitchIN
Vykintas Mineikis, Regional Senior Operation Director of Zalora Group
Low Ngai Yuen, Group Chief Merchandise & Marketing of AEON
Ng Sai Kit, Founder & Managing Partner of Artem Ventures
Venon Tian, COO of Zus Coffee
The ECX24 program has successfully built a platform for these startups and SMEs to gain market access, brand exposure, and investor interest, providing the resources to scale and compete in the digital marketplace. Participants also benefited from exclusive perks, such as cloud services from Amazon Web Services and Microsoft Azure, which included access to AI models like OpenAI’s GPT-4 and Llama 2.
The success of ECX 2024 was made possible thanks to the invaluable support of its partners and sponsors. Sidec extends its sincere gratitude to Affin Bank Berhad as the Main Sponsor, TikTok Shop as the Strategic E-Commerce Partner, and AEON as the Strategic Retail Partner. Appreciation also goes to Shopline as the Strategic Webstore Partner, Pos Malaysia as the Strategic Logistic Partner, and Fiuu as the Strategic Payment Partner. Together, these partners provided essential tools and resources, helping to nurture Malaysia's next generation of digital entrepreneurs and strengthen Selangor's digital economy.
Through initiatives like ECX and the Selangor Accelerator Programme (SAP), the Selangor Information Technology and Digital Economy Corporation (Sidec) continues to position Selangor as a hub for digital transformation, talent development, and innovation. By nurturing local entrepreneurs and providing them with critical resources, Sidec envisions a future where Malaysian startups become key players in Southeast Asia’s digital economy.
This content is provided by Sidec.
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