Malaysia-US Asean-focused startup bootcamp kicks off
By Digital News Asia August 5, 2015
- 54-hour bootcamp ends Aug 6 with pitching to panel of entrepreneurs and mentors
- Part of Obama’s programme to strengthen SEA leadership development
The programme, part of the Young South-East Asian Leaders Initiative (YSEALI), is held in partnership with MaGIC and Techstars, a global network of leaders and entrepreneurs.
YSEALI Generation: Startup Weekend Asean brings together young entrepreneurs from all 10 Asean (Association of South-East Asian Nations) countries to ideate, create and develop products and solutions that have the potential to grow and impact the Asean community, MaGIC said in a statement.
Over 900 applications were received from the 10 Asean countries, and 125 participants were selected to attend the three-day bootcamp.
The final representation included 20 participants from Malaysia and 11 participants each from the other nine Asean countries. These delegates formed groups of five with the condition that each group comprises more than one country.
“MaGIC supports initiatives where entrepreneurs are able to easily connect and share their ideas and solutions with each other,” said MaGIC chief executive officer Cheryl Yeoh.
“This year, MaGIC is focusing on building the Asean entrepreneurship community and YSEALI Generation: Startup Weekend Asean is a good example of a great platform to promote entrepreneurship and cross-country youth collaboration around building viable solutions to address many regional issues,” she added.
YSEALI is US President Barack Obama’s signature programme to strengthen leadership development and networking in South-East Asia.
Under the programme, every year the United States brings 500 young men and women from South-East Asia to universities in the United States where they receive practical training and learn about regional issues.
“The idea here is to bring people together and create networking throughout and within the region. We are privileged to have partnered with Techstars and MaGIC, who are passionate in building startups,” said Edgard Kagan, US Embassy Deputy Chief of Mission.
The opening ceremony marked the beginning of the 54-hour boot camp which will run from Aug 4-6.
The teams will engage in activities such as pitching ideas and solutions for a common theme that has relevance across the Asean community – such as healthcare, environmental issues, traffic management, government, and agriculture.
With the guidance of onsite facilitators and mentors from Startup Weekend, the teams will program applications and develop business plans that address the chosen theme.
On the final day of the boot camp, each team will pitch to a panel of entrepreneurs and mentors.
“Bringing together … innovators in Asean will no doubt bring great value in tackling the challenges in the region, and it will also forge valuable relationships, creating a stronger sense of community and strengthening the ecosystem as a whole,” said Techstars’ Startup Week director Andrew Hyde.
Top teams selected from the pitching sessions will stand a chance to win seed funding, a trip to the United States to meet US entrepreneurs and technology incubators, and the opportunity to participate in the MaGIC-Stanford G2Market programme.
MaGIC-Stanford G2Market is a one-week programme for early stage entrepreneurs to develop and commercialise their ideas.
All participating teams will receive long-term mentoring and coaching that extend beyond the programme, MaGIC said.
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YSEALI Startup Weekend AEC MaGIC Edgard Kagan US Embassy Techstars Andrew Hyde Cheryl Yeoh Bootcamp Barack Obama MaGIC-Stanford G2Market
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