Open For Business

Formerly known as Incite Foodtech, Incite Innovations Group was founded in 2020 and has seen M&A and corporate restructuring over the last few years to strengthen the business and its balance sheet so that it could go out and raise more funding as it geared up for a targeted 2024 IPO.

Today, in its consolidated, re-branded form, Incite Innovation has three core verticals, Fintech, Retail Management, and Lifestyle Ventures, which it believes can help drive business growth and efficiency in retail and food and beverage (F&B) sectors in Southeast Asia.

From fundraising and business financing, to POS systems and F&B brands like Union Coffee and WonderMama, on this episode of Open For Business, you will learn why Incite Innovation went through all this corporate restructuring and how they’re integrating these 3 core verticals, what the rebrand signals ahead, and how they’re gearing up for their IPO.

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Today on the show, we spoke with Caleen Caseryn Chua, Founder of Enliven Women, the first ever transformation event designed to uplift the spirits of women. 

Coming from a finance background and formerly owning a chain of restaurants, Caleen has gone back to reliving her passion in giving back to the society by the form of yoga and mindfulness, as most of you would have heard with the Yoga For Mums event.

Over the course of the conversation, Caleen will help us break down the struggles and personal challenges she had to pull through, the shift from owning an F&B business to reliving her passion and her future plans in 2024 and beyond.

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With a bootstraped investment of RM868,000 since its establishment in 2019, Secondlifeasia, Malaysia’s largest smart device repair company, records an inclining growth of 424% year on year, and is expecting to hit an annual revenue of RM 7.0 million this year. Secondlifeasia is an Independent Repair Provider (IRP) with genuine parts and diagnostic tools sourced from Apple, as well as being a Realme Authorized Service Center for a wide range of devices, including Internet of Things (IoT) devices

Back in February, the company announced its expansion to Thailand, through a joint venture with Appidea, a technology and software development company, with an initial investment of USD250,000 and this will see Secondlifeasia setting up a total of 3 brick-and-mortar outlets in Thailand by the end of 2024. 

Today on Open For Business, we spoke to Jerome Teh, CEO & Co-Founder and Alan Lee, CTO & Co-founder of Secondlifeasia, to understand the companies growth trajectory since their establishment in 2019, how the business model has evolved particularly with how much technology has developed since the pandemic era and what's in store for the business moving forward. 

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Brokerage firm Malacca Securities was founded just over 60 years ago and Chia Wei got involved with the business back in 2013 after returning from the UK for what was supposed to be a “short visit” due to tightening of working visas.

Following her education at Imperial College London, Chia Wei was working at a luxury brand retail group as a merchandising analyst and had a five-year plan in mind to climb the corporate ladder. She did not have plans to join the family business and yet the story has played out differently.

Today on Open For Business, you will learn why Chia Wei stuck around in Malaysia to join the family business, what she brings to the Malacca Securities' table, including her progressive attitude to digitalisation and technology, and where she intends to lead this brokerage business, in an era define by a ‘fight to the bottom’ for brokerage fees and large international platforms, such as Moomoo, making their way into the Malaysian market.

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Behind the common misconception, pole dancing is generally known for its freedom of expressing feelings through the art of dancing that has evolved over time, from its origins in strip clubs and bars, to a more widely recognised form of fitness and art.

Pole dancing has many different styles, from exotic to sports and there are a plethora of choreographies and dancing movements that one can create and enjoy, whether it's to release stress or to improve one’s fitness and flexibility.

On this episode, we speak to Maple Loo Asaro, Founder of Bobbi’s Studios, a pole dancing studio in Bangsar to discuss the challenges in setting up a pole dancing business and how she managed it through to set up her own studio.

Over the course of the conversation today, Maple helped us to break down the stigma behind pole dancing in Malaysia, how her passion ended up becoming an active business venture and her foreseeable ventures in 2024.

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In a world where sustainability and social impact are top of mind of consumer consciousness, Earth Heir stands out as a beacon of ethical practice and artisanal excellence. Founded by Sasibai Kimis in Malaysia, Earth Heir began with preserving traditional crafts and empowering local artisans through fair trade practices and sustainable sourcing.

After a decade of creating sustainable social impact, it has expanded its mission with the launch of a curated marketplace. As Earth Heir embarks on this new chapter, it aims to further its vision of nurturing the sustainability and social impact ecosystem in Malaysia.

On this episode of Open For Business, we speak with Sasibai Kimis, the Founder and CEO of Earth Heir about its journey in preserving cultural heritage, supporting local artisans and driving a larger movement towards ethical consumerism and responsible business practices that prioritises people and the planet alongside profit.

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After almost 3 decades in the corporate world, specifically within the capital markets and asset management sphere, Rejina Rahim left her job as the Managing Director of Nomura Asset Management Malaysia and founded Wahine Capital during the COVID lockdowns.

Wahine Capital’s main vision is to empower women through financial knowledge and collaborative platforms, serving to revolutionise women's role in the economy, starting with the launch of their first product W Vault in May 2023.

On this episode of Open For Business, we explore Rejina’s move from away from corporate life and lessons learnt during the transition to startup founder and entrepreneur, the mission behind Wahine Capital and future products in the world, and how she plans to support women while building a profitable business.

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Founded in April 2020, MADCash stands for Multiply, Assist, Donate Cash and the startup funds and grows unbanked and underbanked women entrepreneurs, aiming to create an alternative credit scoring to increase their future bankability.

The company runs on a proprietary technological platform that allows donors to contribute and see whom their funds are helping at any time, and enables the seamless process of micro-funding application, approval, onboarding, disbursement and of course - repayment monitoring.

To help take MADCash to the next stage, the startup announced a pre-series A funding round of RM5 million in October. The round was led by Artem Ventures with strong support from MSW Ventures and ScaleUp Founders Fund.

On this episode of Open For Business, you will learn about MADCash’s mission, the business model that powers all this, and what the future holds for the platform.

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Imagine indulging in the ancient golden goodness of turmeric without the worry of sugar or stains—Haldy has made this a reality. Haldy launched a groundbreaking product: the World's First Sugar-free Turmeric Mints. These aren't just any mints; they are a blend of taste, health, and convenience, designed to seamlessly integrate the benefits of turmeric into your daily routine.

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Founded in 2020, Cult Creative started as a networking platform for creative professionals with a stated mission to redefine content creation and foster collaboration.

Today, it is focused on connecting brands with creators and uses technology to help brands find creators that is right for them, streamline workflows, and facilitate creator payments. To help them do this, they recently raised a RM500,000 seed round from The Hive Southeast Asia and is changing up the business model, which saw the closure of its job portal app. They also just won a grant from Cradle on the back of confidence in the new business model.

We speak with Shermaine Wong, CEO and Co-Founder of Cult Creative, to learn about how she plans to deploy the recently secured funds, what this change in business model entails, and where the company goes from here. We also get into the journey that she and her co-founders have been on since starting in the midst of the first MCO back in 2020.

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