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PIKOM Angels to help Malaysian entrepreneurs

AvantiKumar | June 2, 2011
ICT entrepreneurs in Malaysia can get financial support and assistance from PIKOM's new Angel Chapter.

PIKOM Angels Chapter

PHOTO - Chuah Tai Eu (2nd from right) receiving his 'Angel Recognition Certificate' from MOSTI Minister Datuk Seri Maximus Johnity Ongkili (2nd from left) . With them are Wei Chuan Beng, PIKOM Chairman (left) and Shaifubahrim Saleh, PIKOM President (right).


KUALA LUMPUR, 2 JUNE 2011 -  ICT entrepreneurs in Malaysia can now approach Malaysian ICT industry association PIKOM's new Angel Chapter for financial help, as well as market and technical assistance.

The recently established PIKOM Angel Chapter intends to help local entrepreneurs take ICT-related ventures to a higher level of growth, said PIKOM Chairman Wei Chuan Beng. "The entrepreneur's business need not be in the early stages but can be at any point, and it is up to the Angel Chapter members themselves to decide if they see any opportunities in investing in the company."

Wei said that the Angel Chapter provided a platform to allow its members to invest different forms of capital. "We believe there are many entrepreneurs out there with good ideas and innovations but lacking the necessary know-how and funds to turn them into commercially viable ventures, and this is where our members can step in to provide help such as industry network, business experience, technical know-how, market know-how and financial capital."

"PIKOM's role is to match entrepreneurs looking for specific help with the members or angels who have expressed interest to offer the said assistance. Applicants just need to complete a simple form, and should there be interest from the angels, applicants may be required to give further details but these will be communicated directly between the angel and the entrepreneur," he said, adding that there membership of the Angel Chapter has reached more than 20 and came from different backgrounds, which included telecommunications, education, technology, media and outsourcing.

Wei added that the PIKOM Angel Chapter was one of the National ICT Association of Malaysia, PIKOM's latest initiatives aimed at encouraging innovation in the country's ICT industry.  "The association which is celebrating its 25th anniversary this year believes that its Angel Chapter is an additional driver to Malaysia's ICT industry, which is now worth more than RM50 billion [US$16.54 billion]."

"Both PIKOM members and non-members can apply for the angels' assistance," he said. "The industry is expected to see an 8 to 10 per cent growth this year."



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