MYStartup Accelerator Programme Cohort 2 opens for registration
By Digital News Asia November 18, 2022
- Six startups from Cohort 1 received US$345,000 from 17 angel investors
- Five top startups to participate in MYStartup Accelerator Immersion Programme
MYStartup is bringing back the Accelerator Programme for Cohort 2 following the success of Cohort 1 during its launch in June earlier this year.
In a statement, it said Cohort 1 graduated with an intimate Demo Day event held on Nov 4, where the top-10 startups pitched their products and services to a panel of investors to secure investment opportunities.
It added that the Demo Day concluded with two impressive announcements. This includes six startups that received a total of US$345,000 (RM1.57 million) in investments from 17 angel investors and top five best startups that were selected to participate in the exclusive MYStartup Accelerator Immersion Programme.
The Accelerator Programme for Cohort 2 will commence with registration from 14 November 2022 to 9 January 2023. To meet the criteria for the Accelerator Programme, startups must be:
- An incorporated company in Malaysia;
- A tech startup with a scalable nature;
- In the stage of MVP or revenue-generating and;
- Looking to expand regionally and globally.
Following which, successful candidates will be selected to undergo MYStartup Accelerator’s six-month intensive enrichment programme.
This will support and bring value to early-stage startups by giving them access to experienced mentors, interactive workshops, and masterclasses by industry experts to help them scale their businesses, MYStartup said.
Executed by Cradle Fund Sdn Bhd (Cradle), the MYStartup Accelerator programme is part of the larger MYStartup strategy initiated by the Ministry of science, technology and innovation where it aims to create global successful Malaysian startups throughout their market expansion and scaling-up journey.
As one of the ecosystem drivers in the Malaysian Startup Ecosystem Roadmap (SUPER) 2021-2030, MYStartup said this programme plays a significant role in empowering economic growth by enriching the startup network to encourage high-impact collaborations and partnerships at the ecosystem level.
Ahmad Kashfi Alwi, senior vice president of ecosystem development at Cradle, said the success of Cohort 1 has validated its impact on the Malaysian startup ecosystem.
“As we strive to become one of the best ecosystems regionally and globally, we endeavour to continue providing local startups with world-class mentorship, guidance, funding opportunities and access to resources worth up to US$440,000 (RM2 million) through the MYStartup Accelerator Programme”, he said.
The top five best startups of Cohort 1 that were selected to participate in the exclusive immersion programme include:
1. Cult Creative: Network platform that matches creatives with employers through data technology;
2. Troopers: HR solutions platform for jobseekers to find reliable work opportunities and track their progress, and for hiring managers to review current statuses of employees;
3. HeyProp: Real estate platform that guarantees the sales of customers’ subscale homes;
4. Krenovator: Tech talent platform that bridges the gaps of tech talent shortages in the industry; and
5. Products2U: Mobile app platform that allows offline stores and communities the opportunity to sell online.
Shermaine Wong, founder of Cult Creative, said aside from investment and funding opportunities, the mentorship and real-world experience brought by the Accelerator Programme provided the firm with the chance to be where it is today.
The startups that are selected for the immersion programme will have the chance to connect with other players in the industry and ecosystem, and at the same time gain real-life insights into expanding their business regionally or globally by experiencing how other startups work.
“We’re excited to be one of the very few selected for the overseas immersion Programme, where we will be engaging with a range of potential partners from across the globe”, she added.
Click here for more information or to register.
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