Gossip bout Penang tech scene
There being alot of gossip going around Penang and what might be happening down here, related to the tech scene. So here, I m trying to dig and see how deep its the hole.
Wisma Yeap Chor Ee
Located at Weld Quay, Georgetown, old British colonel building, 3 storey and around 11,000 sqft each floor + courtyard. A very beautiful building, bottom up, inside out. It was said that this building will be a a center place for tech activities down in Penang, including Makers, coworking space, Hackers, accelerator, workshop and meetup. Looking forward how this place going to turn up, who running it, and what will be the content.
One of the keyword that we see a city with high grow tech startup & entrepreneur are accelerator program. So far, there is non in Penang, but we saw Hugh Mason from JFDI with MDEC run a preview accelerator beginning of last year. Manav from Brinc going around Penang, meeting up with local partners end of last year. And recently Jamie from AppWorks attended one of the pitching session. Would be nice if Penang have its own accelerator program start.
24 hours no-stop coding marathon. It was never held in Penang before. There is rumor that it was suppose to happen last year, but then we did not see it. So, will it happen this year? Does this event matter or just another hype on the tech scene?
VCs & Funding
Well, if startup need to happen or grow, then money & mentorship its crucial. We saw that most local startup from Penang are not localled funded, local mean Penang. They say most investor in Penang are “old economy”, and thats the reason why those startup can’t move far & fast enough. This is a very debateable topic, we shall not go into it.
There is whisper going around the town that oversea investor are eye-balling in Penang, and there could be some alliances forming up. I m not sure if its true or not, but one thing for sure, this is a great place for VCs to hunt. I believe everyone want to fund when the startup are “new”, where the valuation its low, to get the best deal of out from it. Either its a new or existing VCs, sure will be nice to have it present stated down in Penang. Of coz, a good one with sound track record and credibility.