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IFCA MSC joins hands with Google to launch US$2.4M accelerator programme for proptech startups in Malaysia

Yahoo! News Online | 18 Dec 2017

The 10 selected startups will also participate in the Google Cloud Platform Start-up Programme and have the opportunity to pitch their innovation to VCs on Demo Day

IFCA MSC Berhad, a software company catering to property developers and property managers, has collaborated with Google Cloud to launch a RM10 million (US$2.4 million) accelerator programme for property-tech startups in Malaysia.

Christened IFCA Accelerator Programme, it aims to nurture and develop local proptech companies by providing fundraising, business networking and mentorship.

In its first stage, the programme will identify 10 companies and nurture them to achieve global scale. The shortlisted companies will be able to work with IFCA MSC’s experts to fine-tune their solutions and develop new proptech solutions that will disrupt the real-estate industry.

In addition to funding, companies will also get opportunity to utilise co-working spaces at IFCA MSC’s offices in Petaling Jaya, Penang, Johor Bahru and Kuching. In addition, the startups will also gain access to IFCA MSC’s network in the property industry.

“Proptech will redefine the real-estate industry and we are ready to lead the way. That’s why we are actively embracing opportunities to work with startups in developing new solutions and business ideas to reinvent the entire property industry; from construction, to property development and property management,” said Michael Cho, CEO of IFCA MSC.

Recognising the importance to grow and scale in tandem with the market and clients’ ever-changing needs, IFCA is looking to take a stake in companies joining the IFCA Accelerator Programme. “With a strong cash reserve standing at RM 69.6 million (US$17 million) as of June 2017, we are ready to invest in strategic proptech technologies that could integrate and scale with IFCA MSC’s business and solutions.”

The selected startups are also invited to participate in the Google Cloud Platform Start-up Programme and have the opportunity to pitch their innovation to venture capitalists and investors during a ‘Demo Day’. They will also receive coaching from digital leaders from Google Cloud.

“We support IFCA on this initiative making our Google Cloud services available to them and startups in this programme. The benefits of running on Google Cloud makes us particularly interesting for start-ups and proptech companies; we are putting the best technology in the hands of other companies so they can build and scale. We are investing in the Malaysian market through these types of initiatives,” said Tim Synan, Google Cloud Head of Southeast Asia.

Interested startups can submit their pitch-in decks here before January 31, 2018 for the first round through . Shortlisted entries will have the opportunity to pitch their business case in a 30-minute presentation, which will be evaluated by IFCA Accelerator Programme core team members comprising IFCA MSC’s Chairman and Founder Ken Yong, and Cho.

Founded in 1987, IFCA MSC Berhad is an integrated solution provider specialising in the property industry. With experience in managing over 6,000 projects, the company has provided solutions that include property management software solutions, customer relation management system, human resource software solutions, property e-sales platform, construction software solutions and hotel management software solutions.