In this episode of the Impact Podcast, Innov8social founder talks about her experience, meeting various leaders and entrepreneurs at Global Entrepreneurship Summit (GES). Neetal met Cheryl Yeoh, the founding CEO of Malaysian Global Innovation & Creativity Center (MaGIC) at GES.
Listen to the Episode
Meet Cheryl Yeoh – Founder of MaGIC
Cheryl grew up in Malaysia, and she did her undergraduate and graduate studies in the US. She has worked on a number of startups, one of the startups that she has co-founded was reclip (acquired by Walmart). Cheryl was invited home to build and develop MaGIC, to put Malaysia on the social enterprise map. MaGIC was launched by President Obama and Malaysian prime minister. Over the course of two years, it became the largest accelerator in Asia launching more than 150 startups.
She focussed on three main pillars at MaGIC, one was to accelerate and put startups on the global map. To accelerate startups, she launched the MaGIC accelerator programs. The program now accelerates around 75 companies in a four month program twice a year.
Cheryl’s other goal was to educate startups about coding, digital media, marketing, data analytics. Her third goal is to expose social entrepreneurs about what is happening in global space. To enable that, she has created a partnership with Stanford university to engage those entrepreneurs, on the silicon valley culture in a two week program.
Social Entrepreneurship in Malaysia
When Cheryl returned back to Malaysia, social enterprise is not that popular. There is huge need for developing countries to focus on the social entrepreneurship movement. Lot of social entrepreneurs especially from rural areas, are compelled to solve their problems locally. Then there are people from urban areas who tend to have access to technology, money etc. MaGIC supports both these type of entrepreneurs, and they even travel to various parts of Malaysia to empower and teach them. They are being taught, on how to turn their non-profits into a profitable organizations which supports a social cause or impact. In the past two years, MaGIC has helped to define policies for social enterprises. Cheryl has travelled to Bangladesh to meet with Yunus to learn about various business models, and chose what is best for her country.
You can connect with Cheryl using the below mediums.
Linked in : https://www.linkedin.com/in/cherylyeoh
Twitter : cherylyeoh