Arus Oil, Cult Creative winners of Alpha Startup™ Digital Accelerator 2021
By Digital News Asia June 12, 2021
- 36th cohort of 1337 Ventures organised accelerator saw 11 final pitches
- 37th cohort kicked off with focus on fintech and insurtech startups
Malaysia based 1337 Ventures has concluded its Alpha Startups™ Digital Accelerator (ASDA) 2021, Cohort 36 with a Demo Day live on Facebook two weeks ago, seeing 11 final pitches to an experienced group of judges/potential investors who picked Arus Oil and Cult Creative as winners.
Judges composed of Bikesh Lakhmichand, founding partner of 1337 Ventures; Yvonne Yong Chuan Yin, Head of Malaysia Digital Hubs and Corporate Innovation of MDEC; Ikhwan Nazri, CEO & Head of Creative of Amanz Media and Syed Haizam Jamalullail, Managing Director of Tuas Capital Partners and The Hive Southeast Asia.
“Alpha Startups started 7 years ago with Cohort 1 and now we’ve just concluded Cohort 36 where we announced two new startups we’re investing into and kicked off cohort 37 shortly after. We’re excited to see such diverse participation from local startups and even Malaysians from overseas that follow our programmes online” said Bikesh.
“Alpha Startups is an effective platform for startups to showcase their innovative products and solutions. MDEC is proud to be a key partner of 1337 Ventures that accelerates the visibility and growth of Malaysia’s startup ecosystem, in line with the goals of MyDigital and towards positioning Malaysia as the Heart of Digital ASEAN,” says Yvonne Yong, the Head of Malaysia Digital Hubs and Corporate Innovation of MDEC.
The winners, MyProtech Sdn Bhd, which operates under the brand Arus Oil and Cult Creative Sdn Bhd were selected for their great ideas, strong founders and sound growth strategies. Judges commented that all 3-min pitches were delivered well, which made judging tough.
Arus Oil is a used cooking oil recycling platform that offers the best purchasing rates and timely collection services for used cooking oil from individuals, households or restaurants.
Cult Creative is an all-in-one professional networking and resource app for ambitious creative individuals to easily connect, upskill and find work opportunities, to make themselves future-proof.
1337 Ventures is looking for fintech and insurtech startups to join its upcoming Pre-Accelerator Program, with further information available on their social media. ASDA is a digital accelerator program with a 10-day commitment spread over 5 weeks
50% increase in female founders and of those focused full time
Cohort 36 saw an increase in female founders by 50% from last year's intake with 50% of the cohort working on their startups full time from ideas borne out of the MCO.
Emphasising the quality of the 11 startups in Cohort 36, Bikesh points to the fact that some of the teams have been accepted into other accelerator programmes, have received funding or funding offers shortly after the early May Demo Day.“Alpha Startups has shortened the path-to-discovery for promising, up-and-coming startups. Through the program as well as 1337 Ventures' expertise, it filters startups using trusted methodologies, ensuring participants have reached a certain degree of polish, making it easier for investors to look at quality potential investments at a glance,” said Ikhwan who adds that Amanz Media is happy to be part of ASDA 2021.
“Privately-run accelerators are important in venture creation. Coupled with the government’s and MDEC’s resolve in creating a conducive ecosystem for startups in Malaysia, we are at the forefront of enabling potential disruptive tech for positive change, empowering the creation of our very own unicorn, in line with the goals of MyDigital,” said Gopi Ganesalingam, vice president of Tech Ecosystem and Globalisation, MDEC.
[Ed: Paragraph updated for accuracy.]
Expressing interest in some of the finalists, Haizam said, “This is a great group of candidates in ASDA 2021 and kudos to 1337 Ventures for organising. Our team at The Hive Southeast Asia will be looking forward to getting to know more companies and perhaps investing and partnering with some as well.”
The 11 teams making it to the finals were, Altum, Cult Creative, EjenKita, GoGerak, Hawkr, Arus Oil, OtoFacts, SparkFit, Supageneous.Asia, TrinityEco, and Usku Technologies.
1337 Ventures is currently looking for Deep Tech enthusiasts as it is running a program with Malaysian Global Innovation and Creativity Centre (MaGIC) called Virtual DeepTech Bootcamp. More information can be found here. Registration closes on 14 June 2021.
ASDA is organized by 1337 Ventures and powered by Leet Academy, its education arm. Main partners include MDEC & Amanz Media. Supporting partners iTrain Asia, Amazon Web Services (AWS) and Airtable.