[This is a sponsored article with Sidec.]
These days, online shopping for, well, anything, seems to be the norm.
Offering the utmost convenience and speed, purchasing goods—be it clothes, home appliances, or tech accessories—online is the preferred means of shopping for many Malaysians in sating our consumerist minds.
Hence, it makes sense why more and more retail businesses are transitioning to an online model, whether via social media platforms or shopping websites.
But with the advent of AI constantly switching up platform features and frequent digital system updates, it might be scary for many businesses to make the jump.
Here’s where Sidec comes in
Since their inaugural Retail-X accelerator programme in 2023, Sidec has mentored entrepreneurs to push their businesses to embrace technology, optimise operations, and enhance customer experiences.
Along with their other initiatives, Sidec has empowered over 70,000 entrepreneurs and generated over RM700 million in gross merchandise value.
And they’re planning on raising these numbers with their 2025 installment of the programme.
If you’re the founder of a retail company looking to grow your business, here are four reasons why you should take part in the Retail-X programme.
1. It’s a 12-week comprehensive programme
Running for 12 weeks, the accelerator programme aims to empower up to 30 Malaysian retail SMEs with the skills and knowledge to build resilient, scalable business models for today’s fast-evolving marketplace.
From expert mentorship to immersive training labs, Retail-X offers a robust and up-to-date educational experience that covers areas such as livestream selling, AI-driven customer engagement, smart inventory, and personalised commerce.
Participants will have access to mentorship within these areas via 10 business workshops and five pitching courses…
2. That cover three intensive-learning tracks
Turn your pitches demo-day ready with the Pitch like a Unicorn track, where participants will be guided by experts on how to refine your pitch before sharing it with the world. This includes learning to improve your brand storytelling and pitch deck design.
Sidec’s Blueprint to 100x track, which tackles branding, growth and capital strategy, offers mentees the know-how to enhance their overall brand strategy as a retail company. This includes guidance on building a scalable brand, growth hacking with data, and even assessing legal and financial investor readiness.
Lastly, gain Retail Tech Mastery and learn to innovate, engage and scale via the track’s workshops on smart retail tools, AI-driven marketing, and retail data analytics and more.
3. You’ll be mentored by industry experts like F&N
By joining the Retail-X accelerator programme, startups can expect to be guided by top industry names, with past mentors coming from established and reputed companies such as Aeon, Carsome, RHL Ventures, F&N, and The Lego Group.
As you learn from experienced industry players, SME founders also stand a chance to widen their network with valuable contacts that could potentially lead to major collaborations or partnerships.
4. You get the opportunity to be rewarded with exclusive prizes
Although the programme aims to bolster all its participants’ businesses, top pitchers also stand a chance to win gifts and benefits from a prize pool worth RM50,000.
“The top 10 winners will receive an exclusive opportunity to join an international retail innovation trip,” said Sidec.
Although the 2025 destination is yet to be confirmed, past winners and their runner-ups of the programme have visited leading innovation hubs; from the Alibaba HQ in Hangzhou, China; to TikTok Shop’s offices in Shanghai, along with various retail experience labs and digital commerce centres across Asia
Since we have joined ECX24, we have learnt so much especially from the mentors and also from the site visits to Flipper and Signature Market. We learnt a lot from our friends and network.
Mohd Nizar Bin Jamaludin
Director of MCCKT Ventures, one of the top 10 winners of the 2024 cohort
Indeed, these visits have proven to be especially valuable for SMEs looking to learn from or even connect with key industry leaders on setting up their business for the future.
A few things to keep in mind
Before registering for Sidec’s Retail-X accelerator programme, participants should take note of the following entry requirements:
With a RM6,000 one-time fee, participants are treated access to a slew of perks and benefits worth a total of RM 300,000.
Not only does this include the coaching workshops from dedicated and experienced mentors, but also access to cloud services and AI tools and even two seats at the Selangor Sandbox co-working space at the Puchong Financial Corporate Center for one year.
With applications closing on June 27 and only 30 slots available, interested founders should seize this opportunity to upgrade their business and register soon.
Who knows, your startup might join the list of winners and innovators from previous cohorts who have successfully elevated their businesses for today’s, and tomorrow’s worlds.
Featured Image Credit: Sidec
