‘Key Statistics from The Coach and Grow Programme Season 5’
10
year public-private collaboration between Cradle and Proficeo proves
itself once again in helping Malaysian tech start-ups and scaleups
KUALA LUMPUR, Aug 16 (Bernama) -- Known
in the ecosystem as the best C-suite intervention programmes, the Coach
& Grow Programme (CGP) has proven itself once again with its
current cohort of graduating companies. The CGP is a public-private
partnership between Cradle Fund Sdn Bhd (Cradle), Malaysia’s leading
early stage influencer and industry partner, Proficeo, and is designed
to bring together key players in the entrepreneurial ecosystem to
support and fortify technology entrepreneurs to scale their businesses
to greater heights.
Launched in the midst of the 1st Movement
Control Order in 2020, Season 5 or Cohort 5 of the programme came at an
opportune time helping 108 companies navigate the unprecedented changing
economic and business landscape that came as an aftershock to the
pandemic that shook the world.
“When we started, MCO 1.0 was
just launched. Many of the companies were still reeling from trying to
figure out how to move into virtual business mode, Work-from-Home,
keeping customers happy etc. Even all of us at Proficeo had to find
solutions to coordinate and run the program virtually. It was chaos in
the beginning but I knew we had to persevere because more than ever the
entrepreneurs needed us to help them through survival and pivoting” said Renuka Sena, CEO and Co-Founder of Proficeo Consultants.
The economic impact of the pandemic has shifted dynamics in society
from the way we live, work, play and how consumers and businesses spend
their money. The dramatic shifts that have been taking place and will
continue to take place has forced companies to rethink their
go-to-market and scaling models. “What used to work in the past was no longer a certainty”, she added.
Case
in point, AI Smartual that came into the programme with an e-learning
platform for students and teachers. Some may say that it was perfect
timing for their product as students, teachers and parents were forced
to use e-learning platforms as a tool to facilitate learning during the
lockdown. The industry was ready and looking for solutions but it was
wrong timing for AI Smartual as their product was new and untested. To
give credit to the founder, they did try but the e-learning space was
busy and competitive and they struggled. Their Coaches and mentors
worked with AI Smartual to rethink how to utilise their asset to capture
a niche market. As it happened, the founder David Cheng had vast
experience with listed companies and handling investor relations.
Additionally he had good networks and credibility in this market
segment. As such, six months into the programme the company launched
their e-AGM solution into the market, and from being on the verge of
giving up AI Smartual is now solidly booked out for the rest of the year
and generating revenue in excess of RM200k.
AI Smartual is one
of the many compelling business turnaround stories. In fact the average
revenue growth rate of the CGP5 companies is 163%, an incredible feat in
view of the ensuing economic lockdown that has plagued the country
since 2020. “Despite a highly challenging year, these companies with
the help of their coaches not only survived but also increased their
total cumulative sales by RM68 million” said Rafiza Ghazali, Group CEO of Cradle. “For
108 companies to chalk up a total of RM176 million in 12 month over
RM108 million achieved in the preceding 12 months is unprecedented under
normal circumstances but during a pandemic is just inspiring. I’m sure
all the CGP5 Graduates are extremely grateful for the support they
received through CGP”, she added.
Rewarded for their
achievements, companies that were outstanding in the various industry
verticals were recognised for their achievements during the virtual
graduation ceremony. A notable award recipient was Women Entrepreneur
of the Year, Rena Rifaee, Co-founder of Natugee, who overcame personal
and business challenges to grow her business by 650% since joining the
CGP.
Unlike the previous cohorts, this time around Companies and
Founders were also assessed and rewarded for their resilience,
persistence and contributions to the ecosystem during COVID-19. Cradle
and Proficeo social media channels were abuzz over the past couple of
weeks with “Road to Graduation” content honouring start-ups in
categories like “Tech-for-Good” recognising start-ups creating social
impact; “Empowerment platforms” for women, youth, seniors and
e-commerce; “COVID Game Changers” for companies that are disrupting
their industries and “Future-Tech” for companies in the forefront of AI,
Robotics, AR/VR and Nanotechnology. “It was a tough year and so
many of the companies in this Cohort worked hard and rose to the
challenge so we thought the very least we could do was to recognise
their achievements”, said Renuka. “I would give them all an
award if I could because this Cohort was definitely the best ever in
terms of calibre, resilience and true entrepreneurship spirit”, she added proudly.
Now
a decade old, the graduating cohort will join the CGP alumni network
making up a total of 577 companies strong. They will join the ranks of
notable alumni such as iPay88, Easyparcel, Babydash, JomParking, Signature Market, Dropee and Doctor-on-Call.
You can learn more about the graduating companies here.
ABOUT CRADLE FUND SDN BHD (CRADLE)
Cradle
Fund Sdn Bhd (Cradle) is Malaysia’s leading early stage
technology-based start-ups influencer. Our mission is to create an
ecosystem that supports a strong and innovative business-building
environment for technology entrepreneurs through our Cradle Investment
Programme (CIP). Established in 2003 with a mandate to fund high-calibre
tech start start-ups, Cradle has supported over 1000 Malaysian
Technology-Based companies across multiple sectors and holds the highest
commercialisation rate amongst funding agencies in the country.
Cradle
also runs the Coach & Grow Programme (CGP), a market-driven
coaching programme that trains entrepreneurs and administers the Angel
Tax Incentive programme which is designed to stimulate and encourage
angel investments in support of the tech startup sector.
Cradle’s
programme offerings are not restricted to monetary aid, but also
include commercialisation support and various other value-added services
to accelerate growth.
Cradle is a government-linked company under the Ministry of Science, Technology & Innovation (MOSTI).
For more information, please visit www.cradle.com.my
ABOUT PROFICEO CONSULTANTS SDN BHD (PROFICEO)
Proficeo’s
vision is to mould ecosystems around the entrepreneur and facilitate
the creation of a structure whereby all stakeholders within the
ecosystem are working together in a unified and focused manner to
support the success of entrepreneurs. Proficeo’s programs impart real
world experiences on building businesses via high impact and unique
knowledge sharing sessions. They are designed and customised for
entrepreneurs at various stages of their business life-cycle from
pre-commercialisation stage through to pre-IPO. The programs focus on
the practical implementation of strategies coupled with show-how and
experience provided by entrepreneur/investor-coaches. Over the past 10
years, Proficeo has worked with over 1000 entrepreneurs via their
training, coaching and mentoring programs.
ABOUT CGP 5 AWARD WINNERS
BEST STARTUP PIVOT
AI Smartual Learning Sdn Bhd
David Cheng, Managing Director
BEST SCALEUP PIVOT
Puncak Stainless Steel & Machinery Sdn Bhd
Justin Lim, Product Development Manager
OUTSTANDING BUSINESS TURNAROUND AWARD
Social Groove Solutions Sdn Bhd
Christopher Tock, Founder
MOST RESILIENT AWARD
Effortless Beauty Sdn Bhd
Miko Teck, Founder & CEO
BEST TEAM AWARD
Zaahara Ventures Sdn Bhd
Anas bin Pawan Chik, CEO
WOMEN ENTREPRENEUR OF THE YEAR AWARD
Natugee Sdn Bhd
Rena Rifaee, Founder
STARTUP OF THE YEAR AWARD
Pandai Education Sdn Bhd
Khairul Anwar Mohamad Zaki, Founder & CEO
SCALEUP OF THE YEAR AWARD
RPG Commerce Sdn Bhd
Melvin Chee, CEO
SOURCE : Cradle Fund Sdn Bhd (Cradle)
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