While skeptics dismiss the current wave of startups as mere AI 'wrappers,' a grassroots movement in Kuala Lumpur is ignoring the noise and building anyway. It begs the question: is it really just an 'AI wrapper' if it solves a fundamental business problem?



Joseph Chin, City Organizer for AI Tinkerers Kuala Lumpur, joins BFM’s Open For Business to discuss how a small meetup grew into a thriving network of nearly 2,000 members. A former software engineer turned solo founder, Joseph also shares the journey of bootstrapping DocuAsk.ai to profitability, acquiring nearly 300,000 users along the way.



We discuss:




The "Wrapper" Debate: Joseph argues that while some AI products are lazy wrappers, others (like his own) act as essential bridges, making complex models palatable for end-users, much like Uber is an "AWS wrapper."


Distribution as the Moat: Why building great software is no longer enough. Joseph explains his painful pivot from engineer to operator, realising that mediocre software with great distribution beats the alternative every time.


The Pivot to Profit: How he saved his bootstrapped startup by firing marketing agencies and learning digital ads himself, a move that tripled performance and led to profitability.


The AI Tinkerers Explosion: Inside the rapid growth of the KL chapter. Joseph shares how loneliness as a solo founder sparked a community that now inspires members to quit their jobs and launch startups.


Shattering Talent Myths: We discuss the massive turnout for recent local hackathons (almost 2,000 RSVPs), debunking the long-held assumption that Malaysia lacks the deep tech talent or hunger to build world-class products.


The Value of "Tinkering": Why action beats theory. Joseph advocates for hackathons not just for product creation, but as a forcing function to break self-imposed limitations and accelerate learning velocity.

While skeptics dismiss the current wave of startups as mere AI 'wrappers,' a grassroots movement in Kuala Lumpur is ignoring the noise and building anyway. It begs the question: is it really just an 'AI wrapper' if it solves a fundamental business problem?Joseph Chin, City Organizer for AI Tinkerers Kuala Lumpur, joins BFM’s Open For Business to discuss how a small meetup grew into a thriving network of nearly 2,000 members. A former software engineer turned solo founder, Joseph also shares the journey of bootstrapping DocuAsk.ai to profitability, acquiring nearly 300,000 users along the way.We discuss:<ul><li>The "Wrapper" Debate: Joseph argues that while some AI products are lazy wrappers, others (like his own) act as essential bridges, making complex models palatable for end-users, much like Uber is an "AWS wrapper."</li><li>Distribution as the Moat: Why building great software is no longer enough. Joseph explains his painful pivot from engineer to operator, realising that mediocre software with great distribution beats the alternative every time.</li><li>The Pivot to Profit: How he saved his bootstrapped startup by firing marketing agencies and learning digital ads himself, a move that tripled performance and led to profitability.</li><li>The AI Tinkerers Explosion: Inside the rapid growth of the KL chapter. Joseph shares how loneliness as a solo founder sparked a community that now inspires members to quit their jobs and launch startups.</li><li>Shattering Talent Myths: We discuss the massive turnout for recent local hackathons (almost 2,000 RSVPs), debunking the long-held assumption that Malaysia lacks the deep tech talent or hunger to build world-class products.</li><li>The Value of "Tinkering": Why action beats theory. Joseph advocates for hackathons not just for product creation, but as a forcing function to break self-imposed limitations and accelerate learning velocity.</li></ul>

The flagship entrepreneurship show on BFM, featuring personal business stories from early stage start-ups, all the way to billionaire octogenarians in Malaysia and abroad. Notable guests include Martin Cooper (father of the mobile phone), Julian Assange (founder of WikiLeaks), Ralph Henry Baer (father of video games), Tony Buzan (Mindmap Guru), Isaac Tigrett (Hard Rock Cafe founder), Robert Kiyosaki (Financial Guru), Nick Vujicic (motivational speaker) and more. Tap into this valuable resource of shared experiences for the SME industry, which also touches on news, issues and trends affecting the business community and beyond.

Open For Business

Discover fresh concepts, tackle obstacles, and unleash growth - Open For Business is the dynamic show where BFM engages with entrepreneurs, business leaders, and industry trailblazers, igniting inspiration, sparking success, and exploring new business models.

AI Startups: Why Distribution is the Only Moat Left

On this episode of Open For Business, we speak with Paul Dass, Managing Director of Green Street Farms, about what it means to grow food with care in the heart of a city.



Green Street Farms uses aquaponics, a natural system where fish and plants support one another, to produce fresh food while working in rhythm with nature. But beyond the method, this is a story about intention: choosing to grow slowly, thoughtfully, and in a way that stays connected to the people who eat the food.



Paul shares the personal journey behind the farm, the lessons learned from working with living systems, and how reconnecting people to where their food comes from can quietly change how we think about nourishment, responsibility, and care.

On this episode of Open For Business, we speak with Paul Dass, Managing Director of Green Street Farms, about what it means to grow food with care in the heart of a city.Green Street Farms uses aquaponics, a natural system where fish and plants support one another, to produce fresh food while working in rhythm with nature. But beyond the method, this is a story about intention: choosing to grow slowly, thoughtfully, and in a way that stays connected to the people who eat the food.Paul shares the personal journey behind the farm, the lessons learned from working with living systems, and how reconnecting people to where their food comes from can quietly change how we think about nourishment, responsibility, and care.

Greening The Grey — A Farm In The City

Startup accelerators are everywhere, but few operate like AppWorks. Based in Taiwan with a sizable footprint in Southeast Asia, the firm runs an accelerator that takes zero equity and charges zero fees, a model sustained by its associated VC funds.



Alyssa Chen, Principal of the AppWorks Accelerator, joins BFM to explain how this "founder-first" model acts as the top-of-funnel engine for an ecosystem that has raised $6.6 billion in funding across 650 active startups.



We dive into their strategic pivot for 2026, targeting "outlier" founders in Manufacturing AI, Defense Tech, and Onchain Banking, and how they are building a cross-border corridor linking Taiwan, Malaysia, and Singapore.



We discuss:


The "Freemium" Model: How AppWorks sustains a fee-free, equity-free accelerator by using it as a high-quality deal flow pipeline for its VC funds.


Vetting "Outliers": Why a free program still requires a grueling 30-question application and interview process to filter out value-seekers and find true execution-focused founders.


The 2026 "Request for Startups": Why AppWorks is pivoting to hard tech. Alyssa explains the focus on Manufacturing AI (leveraging Taiwan’s hardware strength), Defense Tech (dual-use commercial applications), and Onchain Banking.


The Southeast Asia Thesis: Despite the region's "exit bottleneck," Alyssa argues that the ecosystem is maturing, with founders shifting from "growth at all costs" to profitability and cash flow.


The Taiwan-Malaysia Bridge: How AppWorks is actively linking markets, using Taiwan for R&D and revenue, Singapore for capital and legal structure, and Malaysia for talent and team building.


Alumni Power: How a network of 2,000+ founders (including 900 CEOs) drives the ecosystem, with 570 active startups helping each other navigate fundraising and expansion.

Startup accelerators are everywhere, but few operate like AppWorks. Based in Taiwan with a sizable footprint in Southeast Asia, the firm runs an accelerator that takes zero equity and charges zero fees, a model sustained by its associated VC funds.Alyssa Chen, Principal of the AppWorks Accelerator, joins BFM to explain how this "founder-first" model acts as the top-of-funnel engine for an ecosystem that has raised $6.6 billion in funding across 650 active startups.We dive into their strategic pivot for 2026, targeting "outlier" founders in Manufacturing AI, Defense Tech, and Onchain Banking, and how they are building a cross-border corridor linking Taiwan, Malaysia, and Singapore.We discuss:<ul><li>The "Freemium" Model: How AppWorks sustains a fee-free, equity-free accelerator by using it as a high-quality deal flow pipeline for its VC funds.</li><li>Vetting "Outliers": Why a free program still requires a grueling 30-question application and interview process to filter out value-seekers and find true execution-focused founders.</li><li>The 2026 "Request for Startups": Why AppWorks is pivoting to hard tech. Alyssa explains the focus on Manufacturing AI (leveraging Taiwan’s hardware strength), Defense Tech (dual-use commercial applications), and Onchain Banking.</li><li>The Southeast Asia Thesis: Despite the region's "exit bottleneck," Alyssa argues that the ecosystem is maturing, with founders shifting from "growth at all costs" to profitability and cash flow.</li><li>The Taiwan-Malaysia Bridge: How AppWorks is actively linking markets, using Taiwan for R&amp;D and revenue, Singapore for capital and legal structure, and Malaysia for talent and team building.</li><li>Alumni Power: How a network of 2,000+ founders (including 900 CEOs) drives the ecosystem, with 570 active startups helping each other navigate fundraising and expansion.</li></ul>

No Equity, No Fee Accelerator? AppWorks’ Deal Flow Engine

Private credit has exploded over the last decade. But is it a necessary structural shift or a "shadow banking" bubble waiting to pop?



David Z Wang, Co-Founder & CEO of fintech firm Helicap Group, joins BFM to make the case for connecting global investors to Asia's massive private credit opportunity.



Backed by S$20 million in paid-up capital from the likes of Kenanga Group, Phillip Capital, Saison Capital, and Tikehau Capital, Helicap has helped deploy around US$700 million to the region's "underbanked" sector. The firm mainly targets licensed non-bank financial institutions as distribution points to indirectly serve millions of MSMEs and individuals.



We discuss:


The Bubble Question: While US private credit faces scrutiny, David explains why Asia is different. With only 3-5% of the global market share despite holding 60% of the population, he believes the region offers growth without the saturation risks seen in the West.


Principal Protection vs. Volume: Unlike platforms chasing rapid GMV growth, Helicap claims to adopt a slower, investor-first approach. We explore their co-investment model — where they say they put their own skin in the game for 90% of deals — to align incentives and prioritize capital preservation.


Helicap vs. P2P Platforms: Why invest with them when P2P platforms and bond funds already exist? David argues that for investors with larger capital sums, manually picking loans is unmanageable. He explains how Helicap’s structure handles diversification and diligence, offering what he describes as a passive, institutional-grade alternative.


Defining the 'Underbanked': David clarifies the critical strategy of targeting the "underbanked" (those with income but no credit) rather than the "unbanked." By lending via licensed B2B partners, the company claims to secure better data visibility and lower default risks.


The Malaysia Expansion: With Kenanga Group as a strategic backer, Helicap is making a major play for the Malaysian market. We discuss their stated plans to bring institutional-grade technology to local SMEs and partner with local P2P players to offer Ringgit-based products.


The 2026 Roadmap: With David reporting that profitability has been secured in 2025, what's next? He outlines the shift from constant fundraising to operational excellence, focusing on risk management, team growth, and deep integration with regional partners to cement their position in Asia.


M&A vs IPO: With strategic backers like Kenanga on the cap table, is an acquisition inevitable? David opens up about Helicap’s long-term trajectory, weighing the stability of joining a banking giant versus the ambition of remaining an independent, IPO-bound fintech.

Private credit has exploded over the last decade. But is it a necessary structural shift or a "shadow banking" bubble waiting to pop?David Z Wang, Co-Founder &amp; CEO of fintech firm Helicap Group, joins BFM to make the case for connecting global investors to Asia's massive private credit opportunity.Backed by S$20 million in paid-up capital from the likes of Kenanga Group, Phillip Capital, Saison Capital, and Tikehau Capital, Helicap has helped deploy around US$700 million to the region's "underbanked" sector. The firm mainly targets licensed non-bank financial institutions as distribution points to indirectly serve millions of MSMEs and individuals.We discuss:<ul><li>The Bubble Question: While US private credit faces scrutiny, David explains why Asia is different. With only 3-5% of the global market share despite holding 60% of the population, he believes the region offers growth without the saturation risks seen in the West.</li><li>Principal Protection vs. Volume: Unlike platforms chasing rapid GMV growth, Helicap claims to adopt a slower, investor-first approach. We explore their co-investment model — where they say they put their own skin in the game for 90% of deals — to align incentives and prioritize capital preservation.</li><li>Helicap vs. P2P Platforms: Why invest with them when P2P platforms and bond funds already exist? David argues that for investors with larger capital sums, manually picking loans is unmanageable. He explains how Helicap’s structure handles diversification and diligence, offering what he describes as a passive, institutional-grade alternative.</li><li>Defining the 'Underbanked': David clarifies the critical strategy of targeting the "underbanked" (those with income but no credit) rather than the "unbanked." By lending via licensed B2B partners, the company claims to secure better data visibility and lower default risks.</li><li>The Malaysia Expansion: With Kenanga Group as a strategic backer, Helicap is making a major play for the Malaysian market. We discuss their stated plans to bring institutional-grade technology to local SMEs and partner with local P2P players to offer Ringgit-based products.</li><li>The 2026 Roadmap: With David reporting that profitability has been secured in 2025, what's next? He outlines the shift from constant fundraising to operational excellence, focusing on risk management, team growth, and deep integration with regional partners to cement their position in Asia.</li><li>M&amp;A vs IPO: With strategic backers like Kenanga on the cap table, is an acquisition inevitable? David opens up about Helicap’s long-term trajectory, weighing the stability of joining a banking giant versus the ambition of remaining an independent, IPO-bound fintech.</li></ul>

AI Startups: Why Distribution is the Only Moat Left

Open For Business

In 1 playlist(s)

Open For Business

Social links

Follow podcast

Recent clips