KUALA LUMPUR, 13 September 2019 – GOLOG, (Go Logistic) Malaysia’s first Integrated Mobile Internet Intelligent cold chain logistic platform has successfully obtained the CIP300 funding from Cradle recently. According to GOLOG Founder and CEO, Ivan Chin, they have applied for the funding since March 2019 and was one of the four finalists among the hundreds that applied for the funding.
The CIP300 fund by Cradle is a pre-commercialisation programme which provides a conditional grant and value added assistance amounting up to RM300,000 for entrepreneurs. It is intended to kick-start innovative technology based start-ups to enhance and commercialize their products or services.
“Getting the CIP300 funding from Cradle is like a dream. It’s not just the opportunity to be funded but also the status that comes by being funded by Cradle, which is a benchmark by VC in the country. This means that GOLOG has been recognized as a startup with good potential,”
Ivan Chin, GOLOG Founder and CEO
As to what the funding will be utilised for, Ivan said that 60% of the funds will be used for the commercialisation of the platform as well as scaling the business up. And while they are happy to receive the CIP300 funding, GOLOG is not resting on their laurels as they are also in the midst of raising seed funding to the tune of USD$1 million for further up scaling of their systems and market share expansion.
“Entrepreneurship and doing business are two different concepts. Entrepreneurship is creating betterment for the world, improving human life, contributing to the society and meeting people’s needs.”
In 2017, Ivan determined to revolutionise Malaysia’s logistics industry and partnered with a Japanese company which possess 10 year’s experience in technology research and development to jointly create a smart online logistics trading platform namely GOLOG, which is designed for B2B and B2B2C companies with diversified transportation solutions.
Golog is a comprehensive online logistics platform that addresses transportation services for refrigerated supplies, fresh goods, and fast moving consumer goods. Golog provides three major systems for merchants, including On demand delivery, Next day delivery, and Bulk Delivery. They were designed according to the needs of merchants which effectively reduce the pressure on merchants and achieve cost reduction through big data analytics.
Ivan reveals that entrepreneurship is risky, especially struggling for continuous improvement and progress where it requires substantial amount of funding and significant results to gain trust of investors and overcome all difficulties alongside. To counteract the ever-changing challenges, Ivan believes that entrepreneurship needs to be adequately prepared. On top of that, psychological construction and working experience lay a solid foundation for success.
“Upon starting a business, it is important to continue learning and improving, and always maintain a state of mind that learning is a lifelong process. Entrepreneurship is not just about seeking profits, but helping the society and the country by making greater contributions.”
This year round, in conjunction with the lush season of durian in Malaysia, Golog broke the conventional thinking and launched transportation services for durians regardless of amount just to save time and increase profitability for merchants. This development plan mainly aims to inspire and encourage young generations to join the agriculture field. In view of that, Golog has zoomed into the challenges faced by the traditional logistics model such as high transportation cost, prolonged delivery time and limitation of scope and level up the business model with improvement plans. This makes it easier for the young generations to take over and continue to unleash their creativity.
In the future, Ivan is looking forward to mushroom his business throughout Malaysia and plans to expand Golog in overseas such as Thailand, the Philippines and many other countries. He promised that the Golog team will continue to uphold the mission of “Standing tall with Integrity, Reaching far with Innovation” and serving the Malaysia merchants sincerely.