KUALA LUMPUR, 9 November 2010 – The inaugural MAD TechVentures conference ended on a high note today, with the top 9 startup companies from around the country receiving a total of RM1.5 million in advertising and marketing prizes.

With 22 startup companies vying for a spot in the six categories and a share of the RM1.5 million in prizes, the conference saw heated competition in the following categories: Mobile and Communication, Games and Creative Content, Business Applications and Productivity, Community and Social Networks, Subscription and Commerce Marketplace, and Cloud Computing, Software as a Service (SaaS) and Web Applications.

“Startup companies are the bedrock of a healthy innovation economy and the TechVentures conference aims to strengthen the country’s foundation in this area to compete in the global ICT arena,” said Andrew Wong, Chief Executive Officer of MAD Incubator. “We will continue to work closely with the government and the private sector to boost our local startups.”

The competing startup companies were required to showcase their products and solutions to the conference attendees, as well as a panel of judges comprising industry luminaries, who will in turn evaluate each startup’s presentation and overall value proposition, then determine the winning startups.

Encouraging all Malaysian startups to participate in next year’s conference, Peter Tam, Director of Local Software Economy at Microsoft Malaysia, highlighted the inaugural MAD TechVentures conference as a major success in demonstrating the capabilities of local startups: “It is a great platform for startups to not only showcase their ideas, but also to gain feedback to refine their offerings. This in turn will drive the country’s competitiveness in the global technology landscape.”

“Microsoft will continue to support and play a key role in nation-building initiatives like these, and together with our BizSpark, DreamSpark and ISV (independent software vendor) programs, we hope to drive quality, openness and innovation among Malaysian startups,” said Peter.

Dr. Serkan Toto, the one and only Asia TechCrunch writer who is also the Head Judge at the conference said, “I am very pleased with what I have seen in this two-day conference. Most of the startup companies have presented innovative products and services that are ready for the global marketplace. While the startup scene in Malaysia is still in its infancy compared to more developed countries, Malaysian entrepreneurs hold a key advantage – their multi-lingual and multi-cultural skills and experiences that no other country possesses.”

“MAD Techventures is a great platform to showcase your ideas and receive instant feedback to further improve it. An award such as this is an integral part of the startup ecosystem and I hope to see more Malaysian efforts like these in the future,” added Dr. Serkan.

“TechVentures is one of the most effective ways of gaining visibility for a startup and I would encourage all Malaysian startups to take this opportunity. It has been a great learning experience and we will definitely look into the feedback we received from the judges and our peers,” said Ooi Boon Sheng, Chief Executive Officer of Web Bytes Sdn Bhd, overall winner of MAD TechVentures 2010.

Web Bytes Sdn Bhd took home the top prize at this year’s MAD TechVentures conference, with their solution—Xilnex, an online, on-demand retail businesses software (point-of-sales, servicing and inventory) for micro-businesses, SOHO (Small Office, Home Office), start-up companies, small and medium chain retailers and franchise retailers. Based on the SaaS delivery model, it offers lower maintenance costs, the ability to use the application anywhere, and is more responsive compared to web-based solutions.

List of Winners of MAD TechVentures 2010:

Panel-selected Winners:

• Mobile and Communication: Terato Tech Sdn Bhd
• Games and Creative Content: Hezmedia Interactive Sdn Bhd
• Business Applications and Productivity: e-Trifecta Solutions Sdn Bhd
• Community and Social Networks: Techsailor Group Sdn Bhd
• Subscription and Commerce Marketplace: Capsuco Enterprise
• Cloud Computing, SaaS and Web Applications: Web Bytes Sdn Bhd

Audience-selected Winners:

• Mobile and Communication: Convep Mobilogy Sdn Bhd
• Games and Creative Content: Hezmedia Interactive Sdn Bhd
• Business Applications and Productivity: e-Trifecta Solutions Sdn Bhd
• Community and Social Networks: Techsailor Group Sdn Bhd
• Subscription and Commerce Marketplace: Scandic Corporation Sdn Bhd
• Cloud Computing, SaaS and Web Applications: ISA Technologies Sdn Bhd