Mystartr Equity Crowdfunding Platform’s performance in 2020 have gone beyond about 200% of its target and achieved total fundraised of RM19.7 mil with 13 projects. On March last year, Mystartr announced to achieve total fundraised of RM10 mil for 2020 and MyStartr’s founder and CEO, Mr. Goh Boon Peng, has led his team and the issuers to a fundraising success pathway.
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The outstanding result that Mystartr achieved in 2020 indicates that investors are gaining confident toward equity crowdfunding (ECF). Starting from Jan 2021, MyStartr organize a series of equity crowdfunding workshop to promote fundraising awareness to the startups.
Among the 13 successful projects in 2020, there were 3 projects successfully raised more than RM2mil, namely i-3S (RM3.03 mil), FootballHub (RM3.03 mil) and BidNow (RM2.1 mil). In term of investors, the platform had attracted 1,580 investors participating in ECF while about 75% of them were retail investors who invested less than RM5,000 in a project. Meanwhile, Malaysia Co-Investment Fund (MyCIF) contributed RM4.09 mil fund to the platform in 2020, benefiting 8 startups to raise fund successfully and grow their business after the campaign.
Knowledge in relation to the capital market mechanism is essential for startups. However, awareness is still low among startups environment. Therefore, MyStartr has a mission and objective to assist start-ups, especially the young entrepreneurs who have developed creative and innovative products and services, to grow further. The vision is to assist 5,000 entrepreneurs to be successful over the next 10 years with RM2.5 bil funded amount.
Although the startup scene in Malaysia has been growing tremendously over the last few years, the capital market is still not familiar with the early stage startups. As such, equity crowdfunding platform such as MyStartr plays a crucial role in bridging the gap between the investors and startups, educating more and more retail investors to invest in a proper way, and assists the startup in scaling faster and bigger. MyStartr is also one of the largest rewards based crowdfunding platforms in Malaysia. The Securities Commission awarded an equity crowdfunding licence to MyStartr in May 2019, allowing it to raise funds for the early stage startup.
MyStartr first founded the “Dream Factory” programme in 2012 to build a community of entrepreneur and startup. To realise the dream, practical business idea and sustainable business model is much sought after. Thus, in 2017, the “Dream Factory” programme evolves into a startup competition. Every year, 30 to 40 startups that successfully raise the crowdfunding target amount, progress to the one month intensive business education and mentorship training, to earn the right to pitch at the startup competition.
