Six Malaysian companies selected in Forbes Asia's '100 to Watch List'
August 29, 2023 18:02 MYT
Six Malaysian companies selected in Forbes Asia's '100 to Watch List'
The companies are Aerodyne, BoomGrow, Care Concierge, Involve Asia, Lapasar, and PolicyStreet. - Named
SINGAPORE: Six Malaysian companies are listed in the 100 to Watch, the third annual edition of Forbes Asia which highlights small companies and emerging startups across the Asia Pacific region.
The companies are Aerodyne, BoomGrow, Care Concierge, Involve Asia, Lapasar, and PolicyStreet.
The 100 to Watch list can be viewed via www.forbes.com/100toWatch and in the September edition of Forbes Asia, FedEx. is the main sponsor.
"Companies on this year's Forbes Asia 100 to Watch list show resilience, especially with an environment of rising interest rates and funding that is relatively difficult to obtain for start-ups.
"Thus, the companies on this year's list represent those that have strong prospects of becoming success stories," said Forbes Asia editor, Justin Doebele, in a statement today.
According to Forbes Asia, the current lackluster global venture capital activity isn't stopping startups across Asia from venturing into new fields.
This year's list highlights small companies and startups targeting underserved markets or using new technologies, from generative AI to blood-based cancer diagnostics.
This includes eco-friendly innovations, such as the development of alternative insect-based proteins as well as digitization in milk production to increase yields.
Others include social commerce providers, which help customers sell users' products.
Thirteen countries and territories are represented in 11 categories including biotechnology and healthcare, e-commerce and retail and finance.
Topping the list for the second consecutive year is Singapore which contributed 20 companies to the list, followed by Hong Kong with 15 and mainland China with 11 firms.
New innovation hubs emerged in Indonesia and the Philippines, accounting for 11 and nine companies, respectively.
For the selection of the 100 to Watch list, Forbes Asia accepts online submissions in addition to inviting accelerators, incubators, SME organizations, universities, venture capitalists and others to nominate their preferred companies.
Out of 550 submissions, only 100 companies were selected.
To be eligible for consideration, the companies had to be headquartered in the Asia Pacific region, privately owned, make a profit, not more than US$50 million in the most recent annual revenue and not have more than US$100 million in total funding as of August 7.
Forbes Asia editors will evaluate each submission, looking at metrics such as positive impact on the region or industry, a track record of strong revenue growth or ability to attract funding, a promising business model or market and a compelling story.
-- bernama
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