SINGAPORE: Six Malaysian companies have made it into Forbes Asia's third annual edition of the 100 to Watch list, which spotlights small companies and startups on the rise across the Asia Pacific region.
They are Aerodyne, BoomGrow, Care Concierge, Involve Asia, Lapasar, and PolicyStreet.
The 100 to Watch list, which can be found at www.forbes.com/100toWatch and in the September issue of Forbes Asia, is sponsored by FedEx.
"Companies on this year's Forbes Asia's 100 to Watch list are a study in resilience. With rising interest rates, funding is harder to come by for startups.
"The companies on this year's list, therefore, represent those with strong prospects to become success stories," said the editor of Forbes Asia, Justin Doebele, in a statement today.
According to Forbes Asia, a drought in global venture capital activity has not deterred startups across Asia from breaking new ground.
This year's list spotlights small companies and startups that are targeting underserved markets or applying new technologies, from generative AI to blood-based cancer diagnostics.
These include eco-friendly innovations, such as the development of insect-based alternative proteins and digitisation of milk production to improve yields.
Others include social commerce providers, which help users sell consumer products.
Thirteen countries and territories are represented across 11 categories, including biotechnology and healthcare, e-commerce and retail, and finance.
Leading the list for the second year in a row, Singapore contributed 20 companies to the list, followed by Hong Kong with 15 and mainland China with 11.
The emerging innovation hubs of Indonesia and the Philippines contributed 11 and nine companies, respectively.
For the selection of the 100 to Watch list, Forbes Asia solicited online submissions and invited accelerators, incubators, SME advocacy organisations, universities, venture capitalists and others to nominate companies as well.
The final 100 were selected from over 550 submissions.
To qualify for consideration, companies had to be headquartered in the Asia Pacific region, privately owned, for profit, have no more than US$50 million in its latest annual revenue and have no more than US$100 million in total funding through Aug 7.
Forbes Asia editors evaluated each submission, looking at metrics such as a positive impact on the region or industry, a track record of strong revenue growth or ability to attract funding, promising business models or markets, and a persuasive story.
-- BERNAMA
Bernama
Tue Aug 29 2023
"The companies on this year's list, represent those with strong prospects to become success stories," said the editor of Forbes Asia, Justin Doebele. - Astro AWANI
Iran's supreme leader says Hamas leader's death will not halt 'Axis of Resistance'
The "Axis of Resistance", built up with years of Iranian support, includes Hamas, the Lebanese Hezbollah group, the Houthi movement in Yemen, and various Shi'ite groups in Iraq and Syria.
Putin says Russia willing to seek compromises between Iran and Israel
Russia is ready to help seek compromises between arch-foes Israel and Iran, President Vladimir Putin said on Friday, saying these would be difficult but possible.
What proposals will Russia push at the BRICS summit?
The proposal is also to establish a BRICS reinsurance company to allow uninterrupted shipment of goods and key commodities between members.
Indonesia's free meals plan in the spotlight as Prabowo readies for office
Prabowo calls the programme one of the main drivers of economic growth, eventually set to add an estimated 2.5 million jobs.
Astro AWANI's revamped English news website, AWANI International, launches on Oct 21
Astro AWANI's revamped English platform delivers in-depth global news and expert analysis to keep you informed on key developments.
Israeli strikes kill 33 people in Jabalia refugee camp in Gaza, medics say
Residents of Jabalia said Israeli tanks had reached the heart of the camp after pushing through suburbs and residential districts.
Liam Payne's ex-partner calls for media restraint after 'painful' death
Cheryl Tweedy used her statement to urge the media to remember they had a seven-year-old son, Bear, who could read the reports.
Analysts: Indonesia's strong MoF leadership team to boost investor confidence
Sri Mulyani Indrawati as head of Indonesia's Ministry of Finance is expected to instil confidence among investors.
Biden offers both a carrot and a stick to Israel as his term nears an end
Israel has frequently resisted US advice and has caused political difficulties for the Biden administration.
Putin says BRICS will generate most of global economic growth
Russian President Vladimir Putin will host a summit of the group in the city of Kazan on Oct. 22-24.
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
NFOF will be operational in November 2024 with funding of RM1 bil
PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.