Two Malaysian startups, Foqcus Sdn Bhd and Qarbotech Sdn Bhd, showcased their innovative prowess at the Annual Investment Meeting (AIM) Congress 2024 in Abu Dhabi, UAE. They secured second and third positions in the AIM Startup Pitch Competition, highlighting global interest in their cutting-edge technologies.
Foqcus and Qarbotech’s Winning Innovations
Foqcus, competing in the Pre-Seed Stage, clinched second place and a USD 10,000 prize. Specializing in product digital identification, traceability, and data intelligence via QR code technology, their SmartKood solution offers customizable and integrable options across various sectors, including big data analytics and consumer engagement.
Qarbotech, competing in the Seed Stage, secured third place with a USD 5,000 award. This MAVCAP investee company focuses on biocompatible solutions that enhance photosynthesis rates in leafy plants, thereby accelerating crop cycles and promoting plant growth.
Malaysia’s Diverse Delegation
Led by the Ministry of Science, Technology, and Innovation (MOSTI), Malaysia’s delegation included nine startups from various sectors:
- Aerodyne Ventures Sdn Bhd: Drone, data technology, and digital transformation
- Umrahme: Travel tech
- Braintree Technologies Sdn Bhd: AI and robotics
- Gobuilders Netsoft Sdn Bhd (GOLOG): Logistics
- MoneyMatch Sdn Bhd: FinTech
- Sonicboom Sdn Bhd: FinTech
- DF Automation & Robotics Automotive Sdn Bhd: IoT and robotics
- Foqcus: DataTech
- Qarbotech: AgTech
Celebrating Malaysian Innovation
Norman Matthieu Vanhaecke, Group CEO of Cradle, praised Foqcus and Qarbotech for their achievements, emphasizing Malaysia’s vibrant startup ecosystem. He noted that with the right support, these startups could continue to shape the future of global industries.
Bryant Kooh, Founder of Foqcus, expressed pride in representing Malaysia and highlighted the crucial support from the government in showcasing local talent and innovation.
Chor Chee Hoe, CEO of Qarbotech, reiterated the importance of their technological solutions in empowering smallholder farmers and emphasized the significance of their global exposure at the AIM Congress.
Strategic Collaborations
Beyond the competition, MoneyMatch and GOLOG formed strategic collaborations with UAE-based companies. MoneyMatch signed an MoU with Trade Foresight to pilot cross-border payment solutions, while GOLOG signed an MoU with Royal Eficaz General Trading LLC, targeting USD 150 million in investments.
Insights on Smart Cities
The delegation also featured insights on smart cities, with YBrs. Ts. Dr Raslan Ahmad, Senior Vice President of MIGHT, presented urban planning challenges and the role of MIGHT and the Malaysia Smart Cities Alliance (MSCA) in advancing smart city initiatives.
AIM Startup Pitch Competition Overview
The AIM Startup Pitch Competition, hosted annually by AIM Startup, fosters innovation and market leadership among technology startups. The 2024 event, held from May 7 to 9 at the Abu Dhabi National Exhibition Centre (ADNEC), attracted a diverse global audience and offered dynamic networking and collaboration opportunities.
