Final call for applications to Cohort 3 of Southeast Asia’s best accelerator programme
By Digital News Asia May 7, 2019
- 3rd year of programme considered one of the best in SEA, applications close May10
- Over US$500k in benefits plus support and partnerships with top corporates
Entrepreneurs keen to enjoy the many benefits they will enjoy as part of Malaysian Global Innovation & Creativity Centre’s (MaGIC) signature Global Accelerator Programme (GAP) have only till Fri, May 10th to submit their applications!
Back for its third year now, GAP, which has been rated one of the best such programmes in Southeast Asia (SEA) is looking to handpick 30 startups from across the globe to participate in the four-month long programme to run out of the MaGIC campus in Cyberjaya, Malaysia.
GAP equips startups, keen on expanding in SEA, with the necessary skills, tools and network to be investment-ready in four months. Selected entrepreneurs get head start to break into the SEA market, a region touted as the world’s next consumer powerhouse.
Aside from the outstanding mentoring and coaching participants will enjoy, they will also receive with benefits worth over US$500,000 from various programme partners including Amazon Web Services, HubSpot, Usability Hub and many others.
There will also be industry-specific training, an opportunity to learn from world-class technical and business mentors; a stronger route-to-market focus with extensive corporate support, and partnerships in place with private sector champions such as DiGi, Maybank, Media Prima and Allianz Malaysia as well as a coworking space, accommodation, monthly stipend, a six month professional visitor pass for non-Malaysian participants and marketing allowance.
Arief Imran, Chief Executive Officer at SERV, an alumni from Cohort 1 hails the value of the programme he and his co-founder experienced. “In July 2017, we commenced our accelerator journey with nothing in hand but our landing page. Throughout GAP, we were immersed with product development sharing sessions, mentoring and crash courses. All of which benefited SERV thoroughly and was evident as on 30 September 2017, we officially launched our mobile app. One of the many things I found most helpful from GAP was the mentoring from subject matter experts and seasoned entrepreneurs. It really helped us in identifying our target market and allowed us to build a customised product to solve a problem the customers were experiencing. We also learnt how to measure and track the right metrics to ensure we were growing on track.”
“We are eager to see the level of innovation and creativity of the applicants’ ideas we are going to receive this year,” says Dzuleira Abu Bakar (pic), CEO of MaGIC who highlights that GAP was rated “Best Accelerator Program” by ASEAN Rice Bowl Startup Awards 2017 and 2018.
“That’s two years in a row and we want to continue this streak,” she adds. MaGIC says that GAP is recognised for its strong regional focus with industry specific partners and mentors who are committed to the programme. The global accelerator exposes not only Malaysian-based startups but startups from other countries too with the opportunity to work together, share learnings and hear different viewpoints as well as explore expansion opportunities in SEA.
According to Dzuleira, “This is particularly helpful for Malaysia’s businesses as they work to better position themselves and create the mindset shift required to remain relevant in the fourth industrial revolution (IR4.0) and achieve success in the future.”
With a dedicated mentorship platform and exclusive access to MaGIC’s alumni network and community, GAP offers greater value creation for startups and the opportunity to build a strong network with corporates and investors.
“If you are looking for a rigorous accelerator that can take your startup from a local product or service to a global one in four months then GAP is exactly what you need. The programme is designed to help startups with product development, efficiency or growth stage fine-tune your ideas, connect you with the right people and bring your business to greater heights. We urge you to apply for the programme,” says Dzuleira.
GAP cohort 2 collectively raised approximately US$967,000 (RM4 million) during the programme and comprised of startups from verticals such as eCommerce, healthcare, lifestyle, fintech, hardware & IOT, social innovation, creative, artificial intelligence and agritech.
Participants will be shortlisted based on three key criteria: prospect to expand regionally and globally, potential of highly scalable products with large growth potential, and the possibility of a market-ready product with some traction.
Ideal startups would be less than three years old with diverse skill sets. Shortlisted participants will begin their four-month journey on 6 August 2019 before presenting their refined ideas in November.