KPMG, MDEC to Accelerate 20 Companies to Become Unicorns by 2025

The Malaysia Digital Economy Corporation (MDEC) and accounting firm KPMG have joined forces to help accelerate 20 high-potential Malaysian startups to reach national unicorn status in two years.

In this partnership, KPMG will be directing its support to MDEC's Founders Centre of Excellence (FOX) program to offer consulting and advisory support to the companies. This includes market insights, risk management, and governance, among others, as per a press release by KPMH on March 13.

The FOX program takes after the goals of the Malaysia Digital Economy Blueprint, which includes "[growing] the digital capacities and capabilities of the nation [and raising] the overall ecosystem value..." to further the country's digital economy.

The shortlisted companies under the program are privately held in Malaysia, have shown a "strong growth track record" in three years, have a revenue over RM20 million, or have raised Series A.

"[T]he collective goal is to nurture the progress of these startups over the next two years so they can scale their [businesses] and ultimately deliver lasting economic impact for Malaysia in the form of high skill, high value jobs creation, revenues, and exports," the release read.