KUALA LUMPUR: High-impact tech scale-ups HealthMetrics and Lapasar have successfully passed Endeavor Malaysia's First Local Selection Panel for 2021, which was held recently.
Both HealthMetrics and Lapasar are at its inflection point, aiming for exponential growth over the next three to five years.
Healthmetrics is an end-to-end platform to simplify employee benefits administration and healthcare management.
With 4,000 healthcare providers on their platform, HealthMetrics is looking into creating a fully digital integrated platform accessible to all organisations across the region.
Additionally, the recent success of securing US$5 million Series A funding in Q4 of 2020 will enable HealthMetrics to scale its operations and execute expansion plans regionally to two to three countries in the Southeast Asia region.
Platform for retailers
Lapasar is an online e-commerce platform built to remove barriers for corporates and for retailers. With tremendous growth over the past few months as Lapasar focuses on fast-moving consumer goods (FMCG) Wholesale, Lapasar aims to build the largest tech-enabled distribution company in the country with the largest capabilities to move goods all across Malaysia.
Starting a business is hard, but scaling a business is harder. As they scale their companies to the next level, some of the main challenges they face are improving the business model and expanding their business across the nation.
As they scale their business, it comes with a higher cost of failure as founders face challenges around access to smart capital and high quality talent.
"This is our second time going through the Selection process. We have met over 10 Endeavor mentors and multiple workshops through the ScaleUp Endeavor Program. Each and every advice that we have received has played a crucial part to the decisions we make in our scaling journey," said HealthMetrics' chief executive officer and co-founder, Alvin Yuan.
During the Local Selection Panel with Endeavor mentors, however, HealthMetrics and Lapasar managed to regain clarity of current bottlenecks constraining their ability to scale their businesses and also possible business opportunities.
Endeavor's selection panel
The Local Selection Panel is an inaugural event of 2021 where companies will present their businesses to a panel of Endeavor mentors, composed of high-calibre industry experts, namely Brahmal Vasudevan (Founder and CEO of Creador, Chairman of Endeavor Malaysia), Loi Liang Tok (Head of PizzaHut Malaysia), Michael Chan (Executive Director/CEO of Media Prima Omnia) and Fadzaruddin Anuar (CEO and Co-founder of FashionValet and Board Member of Endeavor Malaysia) as panelists.
"The Selection Process at Endeavor is key to select, mentor and support high-impact entrepreneurs to ultimately grow faster and benefit our economy through job creation and by mentoring and investing in other entrepreneurs. This is what we call the multiplier effect – key for building an entrepreneurial ecosystem in Malaysia. As part of our efforts to service scale-ups, Endeavor Malaysia will start working with HealthMetrics and Lapasar with their business challenges, extending its network of mentors and resources to grow the company moving forward," said Endeavor Malaysia's managing director, Adlin Yusman.
As local Endeavor Entrepreneurs, Yuan and Advent Phang (co-founders of HealthMetrics) and Thinesh Kumar (CEO and co-founder of Lapasar) will now be supported by Endeavor by providing them with access to strategic advice, talent, capital, markets to scale his business to the next level.