1. What kind of business is qualified to be hosted on MyStartr’s ECF Platform
Under the Guidelines on Recognized Markets issued by the SC ("SC’s Guidelines")
Only locally incorporated companies i.e. private company and unlisted public company and
limited liability partnerships; or
Microfund that has been registered with the SC as a venture capital company, has a
specified investment objective and only raises funds from Sophisticated Investors (as
defined below) and Angel Investors.
2. Who is not permitted to host the ECF campaign?
Exempt private company
Commercially or financially complex structures
Public-listed Companies and their subsidiaries
Companies with no specific business plan or plan is to merge or acquire an
Companies other than a micro fund that propose to use the funds raised to
provide loans or make investment in other entities or paid-up
Any other type of entity that is specified by the SC
3. Does Company requires to submit prospectus for hosting ECF campaign?
No, except unlisted public company
4. How do I decide the target funds I am seeking to raise ("Minimum Target Amount")?
It depends on the size and needs of your business. Setting a reasonable and realistic
Minimum Target Amount will help to achieve your Minimum Target Amount easier and faster.
We recommend you to conduct market survey on your business, or if necessary, to seek for
5. What is the maximum target funds I can raise?
Under the SC's Guidelines:
Only raise, collectively, a maximum amount of RM20 million through ECF platform in its
lifetime. (excluding own capital contribution or any funding obtained through a private
placement exercise); and
Above shall not apply to a microfund hosted.
6. When will my campaign be approved and hosted on MyStartr's ECF Platform?
As discussed above, MyStartr will perform the necessary due diligence and review process
to ensure that all disclosure documents lodged by the Issuer are true and accurate and
to access whether the Issuer's business meets the eligibility criteria set by us. Your
campaign will be hosted when all the information is verified and you have passed through
MyStartr's internal assessment.
7. What if I need help for writing content in my business proposal?
MyStartr's team can assist in writing your business proposals and ideals. However, there
might be charges depending on what type of service provided by MyStartr to you.
8. Can I create more than one (1) campaigns at the same time?
No. Under the SC's Guidelines, you are only allowed to create one (1) campaign at any
one (1) time.
9. Can I use multiple ECF Platforms at the same time?
No. Under the SC's Guidelines, you are not allowed to use different ECF Platforms or on
any stock market of Bursa Malaysia Securities Berhad concurrently. You are not allowed
to switch to another ECF Platform after your campaign is hosted on an ECF Platform.
10. Can I use ECF Platform and peer-to-peer financing platform ("P2P Platform") at the
Yes. Under the SC’s Guidelines, you may use ECF Platform and P2P Platform at the same
time provided that you have complied with the disclosure requirements as may be
specified by each platform operator.
11. How long is the campaign period on MyStartr's ECF Platform?
Each campaign shall run for a period of sixty (60) calendar days or any other period as
may be notified by us to you in writing, commencing on the date that the campaign is
hosted on MyStartr's ECF Platform online and expiring on the sixtieth (60th) day
12. What is my role during the campaign period?
A proper marketing plan makes a substantial difference on a fund-raising result. Thus,
you are advised to fully utilise the power of Internet and social media in promoting
your campaign online and offline to increase public awareness of your campaign.
13. What is the role of MyStartr?
MyStartr will provide end-to-end support system by monitoring and facilitating the
campaigns, transactions and/or any communication between the Issuers and the Investors.
You may keep in touch with MyStartr so that MyStartr may be able to assist you from time
14. What are the fees charged on me?
A success fee equivalent to eight percent (8%) of the total funds raised through
MyStartr’s ECF Platform will be charged on you ("Success Fee"). On top of that, MyStartr
will also charge a non-refundable processing fee and LLP set up fee of RM 3,000 per
Issuer. The Success Fee will be deducted from the total funding and the remaining
balance will be released to you from MyStartr's trustee.
15. Where will the funds raised from Investors during the campaign period ("Investors’
Funds") be kept before releasing to me?
The Investors’ Funds will be kept in a trust account held by MyStartr’s trustee ("Trust
Account") during the campaign period.
16. When will the Investors' Funds be released to me?
The Minimum Target Amount or more than the Minimum Target Amount must first be raised by
the end of the campaign period, then your campaign will be considered a successful
campaign ("Successful Campaign"). Upon the Successful Campaign, there are certain
conditions precedent to be met before the Investors' Funds can be released to you
(a) there is no material adverse change in the prospects, products / services,
business, operations or financial condition of the Issuer;
(b) after the expiry of campaign period, the cooling off period of six (6)
business days have expired (being the cooling-off period imposed by the SC to
allow the Investors to opt-out or to proceed with their investments) ("Cooling-
(c) a limited liability partnership ("LLP") is set up for the Investors
and a compliance officer is appointed within seven (7) calendar days upon the
expiry of the campaign period;
(d) the execution by and between the Issuer and all such Investors of any and
all definitive transaction agreements with respect to the Successful Campaign
within fourteen (14) calendar days from the date of registration of the LLP;
(e) receipt of the written approval by the authorised representative and/or
director of the Issuer for the allotment and issuance of the Offer Shares to the
Investors who participated in the Campaign;
(f) where applicable, the completion of the legal, technical, business and
financial due diligence exercised by MyStartr on the Issuer, including the
implementation by the Issuer (to MyStartr’s satisfaction) of all recommendations
in respect thereof from MyStartr, and the results of such exercise being
satisfactory to us;
(g) where applicable, the Issuer and its authorised representatives have
satisfied the due diligence enquiries as required by the trustee of the Trust
(h) the shares have been issued to the investors; and
(i) any other conditions deemed appropriate by MyStartr.
17. What happens if I fail to raise the Minimum Target Amount?
MyStartr operates on an all-or-nothing basis. The funds will be refunded to the
Investors if you fail to raise the Minimum Target Amount by the end of the campaign