KUALA LUMPUR, Malaysia Oct 11 (NNN-Bernama) – Malaysia’s startup training and acceleration programme, Rapid Startup School, jointly undertaken by Locomo Sdn Bhd and Plug & Play Technology Holding, is expected to train 480 local entrepreneurs, annually.
Locomo Chief Executive Officer Rizal Alwani Mohamed Nordin said the Rapid Startup School would have six zone centers or sub-incubators across Malaysia covering major cities.
Selected entrepreneurs among the 480 would be sent to Arizona State University to learn more about entrepreneurship and would be offered opportunities to expand their business in the US.
“We will incubate them for a year. When they are ready, we will send the
selected entrepreneurs to Arizona State University,” he told Bernama after the signing of a memorandum of Understanding (MoU) between Locomo, Plug & Play Technology Holdings and the Arizona State University (ASU) SkySong Center for Entrepreneurship.
Locomo was represented by Rizal, while Plug & Play Technology and Arizona State University SkySong Center for Entrepreneurship were represented by Chief Executive Officer Shahril Anwar Mohd Yunos and Director, Jim Cook, respectively.
The signing of the MoU was witnessed by US Secretary of Commerce Penny Pitzker and Plug & Play Technology Holdings Chairman Mohamed Yunus Ramli Abbas.
Locomo is a private company with its main business in the provision of entrepreneurial, research and development, and commercialisation acceleration services.
The company, a regional licence holder for the ASU Rapid Startup School programme, has trained over 120 entrepreneurs and 240 researchers from local universities.
Plug & Play Technology, a subsidiary of Kumpulan Modal Perdana, has generated incubatee revenue of RM34 million over the last five years for start-up companies under its incubation.
Source : NNN-BERNAMA