MaGIC's BOD challenge programme helps start-up entrepreneurs
Published on: Thursday, April 24, 2014
Kuala Lumpur: The newly set-up Malaysia Global Innovation Centre (MaGIC) aims to help entrepreneurs venture into business with the BOD Challenge.The contest, which started on March 31, would offer 13 contestants the exposure and experience of what it takes to become an entrepreneur.BOD Challenge Executive Producer Rizal Alwani said the BOD challenge programme prepares them to build real value, generate real revenue and raise funds on a daily timeframe.
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"We want them to be shaped by the pressure of constraints," he told a press conference on the programme here Wednesday.The series challenge, which is fully funded by MaGIC, started with contestants competing for seed funding and cash prizes of RM50,000.Over the 20-days, contestants would go through intense competition where they would build businesses, validate products and services in the market.They should also acquire new customers, create marketing strategies and raise funds.
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Along with the activities, the contestants were given experiential training, mentorship, coaching, toolkits and market access to build their businesses.Rizal said all the contestants' activities, related to the competition, have been recorded and uploaded on all BOD Challenge social media platforms like Facebook, Twitter and YouTube, on a daily basis.
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He said the programme would likely grow into a franchise, expanding across the region to replicate opportunities for start-up entrepreneurs from other countries to participate.The establishment of MaGIC was announced by the Prime Minister Datuk Seri Najib Razak at the 4th Global Entrepreneurship Summit last year with an allocation of RM70 million.Stay up-to-date by following Daily Express’s Telegram channel.
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