High-impact tech scaleups HealthMetrics and Lapasar have successfully passed Endeavor Malaysia’s First Local Selection Panel for 2021, which was held recently
Established in 1997, Endeavor is leading the global high-impact entrepreneurship movement to drive economic growth and job creation by selecting, mentoring, and accelerating the best high-impact entrepreneurs around the world.
Since launching its operations in Malaysia, Endeavor actively supports 45 companies, collectively generating RM1.4 billion in revenues and 20,000+ in jobs since selection.
The Local Selection Panel is an inaugural event of 2021, during which companies present their businesses to a panel of Endeavor mentors, comprising of high-calibre industry experts.
Panelists for this session were Brahmal Vasudevan (Founder & CEO of Creador, Chairman of Endeavor Malaysia), Loi Liang Tok (Head of PizzaHut Malaysia), Michael Chan (Executive Director/CEO of Media Prima Omnia) and Fadzaruddin Anuar (CEO & Co-founder of FashionValet and Board Member of Endeavor Malaysia) as panelists.
"The Selection Process at Endeavor is key to select, mentor and support high-impact entrepreneurs to ultimately grow faster and benefit our economy through job creation and by mentoring and investing in other entrepreneurs," commented Adlin Yusman, Managing Director of Endeavor Malaysia
He added, "This is what we call the multiplier effect – key for building an entrepreneurial ecosystem in Malaysia.
"As part of our efforts to service scaleups, Endeavor Malaysia will start working with HealthMetrics and Lapasar with their business challenges, extending its network of mentors and resources to grow the company moving forward."
HealthMetrics is an end-to-end platform to simplify employee benefits administration and healthcare management
With 4,000 healthcare providers on their platform, HealthMetrics is looking into creating a fully digital integrated platform accessible to all organizations across the region.
Additionally, their recent success in securing US$5 million Series A funding in Q4 of 2020 will enable them to scale their operations and execute expansion plans regionally to 2-3 countries in the SEA region.
Meanwhile, Lapasar is an online e-commerce platform built to remove barriers for corporates and for retailers
Having shown tremendous growth over the past few months as they focus on FMCG Wholesale, Lapasar aims to build the largest tech-enabled distribution company in the country, with the largest capabilities to move goods all across Malaysia.
Both HealthMetrics and Lapasar are at their inflection points, aiming for exponential growth over the next 3-5 years
While starting a business is hard, scaling one is even harder.
When it comes to scaling companies to the next level, some of the main challenges faced include improving the business model and expanding the business across the nation. Additionally, scaling a business comes with a higher cost of failure, as founders face challenges around access to smart capital and high quality talent.
However, during the Local Selection Panel with Endeavor mentors, HealthMetrics and Lapasar managed to gain clarity on the current hurdles they're facing in scaling their businesses, as well as possible business opportunities.
"This is our second time going through the Selection process. We have met over ten Endeavor mentors and multiple workshops through the ScaleUp Endeavor Program.
"Each and every advice that we have received has played a crucial part to the decisions we make in our scaling journey," said Alvin Yuan, CEO and Co-Founder of HealthMetrics.
As local Endeavor Entrepreneurs, Alvin Yuan and Advent Phang (Co-Founders of HealthMetrics) and Thinesh Kumar (CEO & Co-Founder of Lapasar) will now be supported by Endeavor
Endeavor will provide them with access to strategic advice, talent, capital, and markets to scale their businesses to the next level.
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