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These things do work and created a few unicorns here in Malaysia. The catch is that they're usually very bureaucratic as it's public funds, and the more corrup
by muzani 2y ago
These things do work and created a few unicorns here in Malaysia.
The catch is that they're usually very bureaucratic as it's public funds, and the more corruption, the more rules there are. Someone might say, come in from New Zealand to get a grant, then the condition becomes "must be 51% locally owned". A conglomerate creates a sister company to get the grant and then it becomes, "parent company must be less than 3 years old and have under $500k revenue". The rules just keep stacking on until agile is basically banned lol
Companies funded this way were actually one of my income sources when I was freelancing, but sadly most don't continue on unless there's a Series B later on.
- amazingamazing 2y ago> These things do work and created a few unicorns here in Malaysia. Which ones?
- nradov 2y agoCarsome and Aerodyne?
- muzani 2y agoI was thinking Grab, back when they were called MyTeksi. Honestly the reason I don't answer these questions is that it's just so hard to dig up this info. It feels like genealogy, which is fine for curiosity, but I can't tell which of these questions are just being contentious. Best I can get this this link from 7 years ago: https://vulcanpost.com/624177/malaysia-memorable-startup-funded-by-cradle/ https://vulcanpost.com/624177/malaysia-memorable-startup-fun... And it was about their investments from ~17 years ago. These things are slow.