Let’s talk about Malaysia’s white elephant

More: Grab's new feature for SEA visitors, and Sayurbox's latest downsizing efforts. [Read from your browser]( Daily Newsletter --------------------------------------------------------------- Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. --------------------------------------------------------------- IN FOCUS In today's newsletter, we look at: - [How Malaysia’s ‘failed Silicon Valley’ is becoming a white elephant]( - McKinsey's take on Indonesia's untapped reseller market - A list of investors pouring money into Southeast Asia’s fintech startups - Other newsy highlights such as Grab's new feature for SEA visitors and Sayurbox's latest downsizing efforts --------------------------------------------------------------- Hello {NAME} Silicon Valley, the world’s preeminent tech hub, regularly churns out next-generation tech. Not only does it house thousands of promising startups, but it’s also home to some of the world’s leading tech companies, including Apple, Google, Uber, Meta, and Visa. The region’s rise and success has captured imaginations across the globe. After all, it has played a pivotal role in making California the largest sub-national economy in the world. In fact, if the state were a sovereign nation, it would be the sixth-largest economy. Naturally, governments have taken notice and who wouldn’t? Silicon Valley’s unparalleled tech ecosystem, abundant venture capital, and world-class talent pool give life to its entrepreneurial spirit. In short, it’s the ideal environment for startups looking to make it big. However, recreating Silicon Valley’s success in other parts of the world has been a lot easier said than done. Today’s featured piece spotlights Malaysia’s mismanaged attempt at setting up one of the world’s leading tech hubs in Cyberjaya and how the city has now become a white elephant for the nation. -- Shravanth P.S.: If you’re an entrepreneur looking for funding, [fill out this form]( to get your company featured on our list of fundraising startups.  ---------------------------------------------------------------  THE BIG STORY [Malaysia’s ‘failed Silicon Valley’ is becoming a white elephant]( Cyberjaya may risk losing out to Kuala Lumpur if there’s no policy change. --------------------------------------------------------------- TRENDING NEWS [Indonesia’s Sayurbox fires staff amid stagnant B2C growth]( The B2C market has not grown as expected during the pandemic, leading to the merging of some B2C warehouses, the company said. [Untapped reseller market in Indonesia worth billions: McKinsey]( Resellers and distributors make up around 85% of the country’s online merchants, according to a report from the management consulting firm. [Crypto firm Luno to cease operations in SG starting June]( Luno said that the move was part of a “regular evaluation of its global strategy and presence.” [Grab launches new travel features for SEA visitors]( The new features will help travelers plan ahead and experience their destination like a local. ---------------------------------------------------------------  LISTICLE OF THE DAY [Series SEA: Who’s investing in the region’s fintech startups?]( We've compiled a list of investors that are pouring money into Southeast Asia’s fintech startups. ---------------------------------------------------------------  TECH IN ASIA'S FOUNDERS MEETUP: PHILIPPINES Join us and share the hardest challenges you’ve faced as a founder If you’re an entrepreneur based in the Philippines, you’re invited to Tech in Asia’s Regional Founders Meetup, which will be held on April 25 at Draper Startup House - 5048 P. Burgos St., Makati - from 5:30 p.m. to 7:30 p.m. 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. Starting up doesn’t have to be a lonely journey. [Register]( for this exclusive event here today. Tickets are priced at US$12.50 per person, inclusive of light bites and one drink. Slots are limited and are available on a first come, first served basis. Thanks to our official event partners - AWS, CleverTap, Cooley, Sinarmas Land, Singapore Global Network, and Quest Ventures - as well as our community partners - AHG Lab and Weremote - for making this meetup possible. ---------------------------------------------------------------  PRESS PEEKS The following press releases were published as they were received, without any editing from the Tech in Asia team. You too can publish your own press release on Tech in Asia by simply filling in [this form](. Our team will get back to you by the next business day. - 9Unicorns - [Startups Driving Environmental and Socio-Economic Impact in India]( 5 startups to look out for at the 3rd Demo Day on 18th April organized by 9Unicorns and Venture Catalysts- axefinance - [axefinance launches free webinar on Early Warning Systems for proactive risk management]( Don't miss out axefinance's webinar "Early Warning Systems, a crucial tool for a proactive approach to risk management" on Apr 27. Register now.- 9Unicorns - [Revolutionizing the Finance Industry: How Fintech Startups are Changing the Game]( 6 fintech startups to watch for at the Demo Day 3 on 18th April hosted by 9Unicorns and Venture Catalysts ---------------------------------------------------------------  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]( to get 40% off (get additional discounts exclusively for TIA subscribers)! - [Tech in Asia’s Founders Meetup: Philippines]( on April 25 Our networking event, Founders Meetup: Philippines, is happening in Manila on April 25 at Draper Startup House. 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! - [Tech in Asia’s Founders Meetup: Malaysia on May 23]( Our networking event, Founders Meetup: Malaysia, is happening in Kuala Lumpur on May 23 at WIP on the Park at Marc Residence. 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](. - [Senior Product Designer]( at Sekolah.mu Jakarta, Indonesia - [VP Performance Creative]( at Boleh Dicoba Digital Bandung, Java, Indonesia - [Tax and Accounting SENIOR Staff]( at House Of Tax Tangerang, Indonesia - [Content Creator]( at Indocyber Global Teknologi Jakarta, Indonesia - [Global Trainee Program 2023]( at Lalamove Logistik Indonesia Hongkong, China - [Young Professionals Program]( at Deliveree Indonesia Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( 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. Tech in Asia thanks our partners for supporting our newsletters. 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