Will championing Malaysian startups bear fruit for VCs?

Check out our top articles for the week. [Read from your browser]( Top Stories of The Week Welcome to Tech in Asia's free Sunday newsletter! Get full access to our subscribers-only premium content and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. Hello {NAME} Malaysia is an enigma. The country has the ingredients to be a regional power: a large multilingual workforce, relatively cheap living costs, and good infrastructure, including two well-connected airports, i.e., Penang and Kuala Lumpur. Yet the country has an image problem. Corruption is rampant - and it’s not just the 1MDB scandal. Government involvement in the private sector is heavy. Even the startup/tech space isn't exempted. Government VCs are among the [largest institutional investors]( in the startup space. All this to say that there are systemic problems weighing the nation down. That hasn't deterred some from trying to not only seek fortunes in a wild place like Malaysia but also to boost its startup ecosystem. It's an arduous journey. When I interviewed Kevin Brockland, the managing partner of Kuala Lumpur-based Indelible Ventures, I got the sense that championing Malaysian startups would be a tall order. Yet there are some - like Brockland - who believe it's a worthwhile cause. Sure, there's money to be made. In fact, Malaysia is a good sandbox with its 33 million-strong population and 13 states and three federal territories, making it a better starting point than Singapore for companies in the region in many respects. But one wonders whether the time and effort invested in jumpstarting the Malaysian startup space is worth it? I'm Malaysian and therefore skeptical as to whether the country will get its act together. But I'm always willing to be proven wrong. -- [Emmanuel Samarathisa]( journalist at Tech in Asia  --------------------------------------------------------------- TOP STORIES THIS WEEK 1. [Malaysia is a better place than Singapore to found a startup, says this VC]( Kevin Brockland explains why he is betting on local talent despite the challenges. 2. [How similar are Latin America and Southeast Asia?]( There are good reasons as to why Shopee remains committed to Latin America - and Brazil in particular. 3. [NYSE-listed TDCX eyes outsourcing boon amid tech layoffs]( As tech companies face a reckoning, will the Singapore-based BPO firm’s bet on the “new economy” pay off? 4. [Trash, cargo, security: a profitable robot firm’s many interests]( Backed by an Alibaba fund, Clearbot’s robot-as-a-service offering takes on marine pollution in a profitable, zero-emissions model. And it has other uses. 5. [IGrow’s sprouting credit issues disquiet P2P investors]( The Indonesian peer-to-peer lender’s payment success rate has been steadily declining since 2022. 6. [PayMongo receives demand to investigate board chairman]( Despite an employee pressing the company for details, PayMongo has not indicated if a probe will be launched. 7. [50 rising startups in Southeast Asia]( Which are the startups that are on the path to becoming the next big thing? 8. [The lowdown on Malaysia’s digital nomad visa]( Be prepared for long wait times and loopy policies. 9. [Secretlab’s profit declines in FY 2022 as revenue grows]( The Singapore-based maker of gaming chairs will likely make its first loss in calendar year 2022. 10. [Where are SEA’s laid-off techies headed?]( The trauma of being laid off has led some candidates to ditch startup jobs for a career at non-tech firms. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [Tech in Asia’s Product Development Conference 2023]( from May 16 to May 17 Tech in Asia’s Product Development Conference is back! This year’s edition, which will be held in person in Jakarta, will feature over 20 industry leaders, experts, and innovators sharing the latest trends and strategies that can accelerate product development growth. [Register now]( and you can get two tickets for the price of one. This early bird promo is available for a limited time only, though, so don’t miss out!  - [Tech in Asia’s Founders Meetup: Singapore on February 22]( Our networking event, Founders Meetup: Singapore, is happening on February 22, at Crane (Arab Street). Join us and share the hardest challenges you’ve faced as a founder. To help you find solutions, we’ll introduce you to fellow founders who have been there and done that. Register today! --------------------------------------------------------------- WHO'S HIRING  You can post a job [here]( or search for jobs [here](. [logo] [Software Engineer (Whiz (YC W22))]( at Deall Jobs Jakarta, Indonesia IDR 12,000,000 – 25,000,000 [logo] [Product Manager]( at PT. Wahana Pembayaran Digital Jakarta, Indonesia IDR 20,000,000 – 25,000,000 [logo] [VP Performance Creative]( at Boleh Dicoba Digital Bandung, Java, Indonesia IDR 15,000,000 – 25,000,000 [logo] [Payroll Staff]( at Female Daily Network Jakarta, Indonesia [logo] [Project Management Support]( at Hangry Jakarta, Indonesia [logo] [Tax Assistant Manager]( at Lifepack Jakarta, Indonesia IDR 10,000,000 – 15,000,000 [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  ---------------------------------------------------------------  Tech in Asia’s newsletters are handcrafted daily with love - and sometimes powered by good kopi. Copyright © 2023 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894