ScaleUp Malaysia invites applications for its 4th cohort
By Digital News Asia July 7, 2022
- Regional accelerator seeks to invest US$100k each in 10 companies
- Participants receive investment before program instead of at its end
What startup winter? Obviously Scaleup Malaysia didn’t get that memo. Hot off the heels of its successful 3rd Cohort in March 2022, the fast emerging growth accelerator is announcing the start of its next cohort, called Cohort 2022 which will officially start in Q4 of 2022 on a fully remote basis.
[Ed: Para updated to reflect the delivery method of the program.]
A notable enhancement to the ScaleUp Malaysia program is that it has increased investment in its startups to US$100,000 (MYR 440,000) per company, making it one of the largest cheque sizes from an accelerator in Southeast Asia. Participants will also be receiving investments from the accelerator before commencing the program instead of at the end of the programme.
“We have been tremendously blessed to have worked with some of the best companies in the region over the last three cohorts,” notes Xelia Tong (pic), Managing Partner. “This increase in our investment size upfront shows our belief that Malaysia and Southeast Asia have some truly remarkable founders. We hope to support them on their journey.”
Applicants who apply for Cohort 2022 will also experience a quick turnaround time to know if they will make it through. ScaleUp Malaysia aims to inform participants of their acceptance and investment within 5 weeks of applying to the program.
“We recognise that this is a very precarious time for founders with so much uncertainty with the economic situation in the region and around the world. This is why we have streamlined our process to make sure that exceptional startups get funded quickly so they hit the ground running and scale effectively,” remarks Andre Sequerah (pic, below), Managing Partner.
ScaleUp Malaysia has announced investments in 30 startups since 2020 including Iimmpact, Fefifo, AOne, Homa and Guruinnovatif. With one exit already under its belt and follow-on investments of up to 15x after the program, its top companies have seen a 300% increase in revenue since participating in ScaleUp Malaysia.
“We accept startups from all industries and verticals but what is really important is that they need to demonstrate product-market-fit, a sizable market and a compelling go-to-market plan,” adds Andre. ScaleUp Malaysia not only accepts startups from Malaysia but from all over the world. Startups from 26 countries applied for its last cohort.
The accelerator also notes that it has strong representation of female founders compared to the industry in general and seeks to support more women entrepreneurs. “We’re really excited that more than 40% of the startups we back have female founders,” remarks Xelia.
“They are smart, driven and determined to make their mark. We are looking forward to helping more women make a difference.”
Registration for Cohort 2022 is now officially open until Aug 31. Visit ScaleUp Malaysia for more information and to register your interest for the cohort.
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