From left to right: Lim Kee Yeong, Executive Director of Enterprise Banking, AFFIN BANK BERHAD; Tan Jin Chi, Winner and Founder of ABC Junior; and Y.B. Dato’ Teng Chang Khim, Chairman of Standing Committees for Investment, Industry & Commerce and Small & Medium Enterprise (SME)
Kuala Lumpur, 12 June 2022 - Startup accelerator Dream Factory crowned ABC JUNIOR as the winner of its 6th Dream Factory Startup Contest, at a prize ceremony held in Menara Ken, TTDI. The winning team received RM30,000 in cash, an all-expenses-paid 6-day-5-night business networking trip overseas, as well as bonuses and certificates worth over RM50,000.
An annual event hosted by Dream Factory, the Dream Factory Startup Contest is dedicated to equipping novice business owners with industry knowledge and financing opportunities, while also uncovering the potential of homegrown entrepreneurs.
Emerging as the champion startup among 25 finalists, ABC JUNIOR is an online preschool search platform that connects parents with preschool operators. With a 3-step procedure called ‘Discover, Search and Compare’, the platform provides parents with the necessary information to make informed decisions about their children’s educational choices. Additionally, ABC JUNIOR also functions as an online marketing solutions firm tailored for preschool operators.
The startup aims to become the largest one-stop toddler platform in Southeast Asia, and has aspirations to achieve unicorn status in the local market in the near future. Commenting on the experience, Tan Jin Chi, Founder and CEO of ABC JUNIOR said, “The experience and knowledge we’ve gained throughout this competition has been invaluable in helping us grow both as individuals and as a business. Beyond financing, Dream Factory has helped steer us in the right direction with proper guidance to improve our business model.”
Tan further added, “Through Dream Factory’s competition, we have been able to make fruitful connections with like-minded partners and share resources to achieve common goals. Being able to learn firsthand from peers as well as some of the biggest names in business was incredibly eye-opening because everyone has their own experience to bring to the table.”
This year, 68 teams were shortlisted from an initial pool of 511 aspiring entrepreneurial teams through a first round that involved crowdfunding a total of RM8,800. Over the course of two months, the shortlisted teams underwent several tasks and 21 rounds of intensive training courses focusing on lean startups, SEO marketing, growth hacking, HR management, and the Business Model Canvas. Besides that, the teams were given a pitch training session by TEDxPetalingStreet and one-on-one mentorships with successful entrepreneurs and business tycoons in the region.
This culminated in an evaluation of the 25 finalists' business models on the final demo day by Founder and CEO of MyStartr Group and Dream Factory Sandbox, Mr. Goh Boon Peng as the lead judge along with a panel of 6 business leaders: Chairman of Big Bad Wolf Ventures, Dato' Ng Wan Peng; CEO of CUCKOO International, Mr. Hoe Kian Choon; CEO of Selangor Information Technology & Digital Economy Corporation (SIDEC), Mr. Yong Kai Ping; Head of Business Development, Enterprise Banking, AFFIN Bank Berhad, Mr. Andy Loke; The Sea Capital Investment Committee member, Mr. Jacky Chan Soon Tat; Vistage Chair and CEO Coach, Mr. Loh Wei Hoong.
Commenting on the contest, Goh said, “The key to entrepreneurial success is the ability to think on your feet and adapt to challenging scenarios. Through these time-limited challenges, Dream Factory pushes these budding entrepreneurs to adopt this mindset and quickly innovate solutions that overcome industry challenges while also prioritising their business goals.”
Well-established in the local Chinese market, this annual entrepreneurial competition is sponsored by several brands including The Sea Capital and GM Klang, and co-organised for the third year running by AFFIN Bank. As part of its vision to be the "Bank of Choice for SMEs", the bank’s partnership with the Dream Factory Startup Contest is focused on cultivating knowledge on financial services, product innovation, and incubation platform construction among local SMEs and startups.
Dream Factory is Malaysia's largest Chinese-centric startup accelerator, providing guidance and business knowledge to local and regional startups who aim to elevate their business profile in the local Chinese market. As part of its mission to empower aspiring startups, Dream Factory will continue to host its annual entrepreneurial competition to provide budding entrepreneurs and SME owners a chance to learn, grow, and become vigilant in creating forward-thinking businesses.
To learn more about Dream Factory, please visit:
https://dreamfactory.my/ or https://www.facebook.com/dreamfactorymy
To learn more about MyStartr, please visit: https://www.mystartr.com/
