Startups to move to phase two of UNDP, MaGIC's SICA programme

Startups to move to phase two of UNDP, MaGIC's SICA programmeThe United Nations Development Programme (UNDP) has announced a total of 25 start-ups in Malaysia will move on to the second phase of the Social Impact Challenge Accelerator (SICA) organised by the Malaysian Global Innovation and Creativity Centre (MaGIC).

Implemented by the UNDP in Malaysia, phase two of SICA will see the start-ups go through a rigorous Impact Accelerator programme, which began on Sept 20, it said in a statgment.

The Impact Accelerator programme will also collaborate with 500 Global, one of the world’s most active venture capital firms. It is designed based on the success of the ImpactAim model first launched by UNDP in Armenia in 2017, it said.

UNDP said it has launched similar Impact Venture Accelerator programmes in Denmark, Indonesia, India, Singapore, Philippines, Vietnam, Bosnia Herzegovina, and Thailand working with ventures from over 45 countries.

In Malaysia, the Impact Accelerator programme will take the best elements of ImpactAim customised to local context and needs to boost the development of social entrepreneurship and impact-oriented start-up ventures in Malaysia, contributing towards amplifying the positive impact of local innovations and achieving the Sustainable Development Goals (SDGs), UNDP said.

The programme primarily focuses on affordable and accessible senior care services; upcycling plastic into commercial products; accessible and affordable education; providing children support in mental health and psycho-social support and access to safe and clean environment; and climate change and sustainable cities.

UNDP said startups will gain access to business acceleration support from 500 Global’s network of mentors and be introduced to impact measurement methodologies to assist in aligning their business strategies toward the SDGs.

Following the 10-week programme where teams will be groomed for preparedness, they will get the opportunity to present their business pitch in a demo day where they will gain connection to networks of investors and scale-up partners, before moving on to the third phase of SICA, it said.

Also, high-performing participants during the demo day will stand a chance to secure post accelerator support, including financial support from participating partners, local and international network access and mentorship, an opportunity to tap into Government Procurement (Program Perolehan Impak Sosial Kerajaan), and attracting international investment.

“This Impact Accelerator programme is an innovative initiative to accelerate the growth of established Malaysian start-ups to help them reach their highest potential and create a positive impact in various areas by equipping them with the necessary expertise to measure and scale-up impact towards SDGs,” said Manon Bernier, deputy resident representative of UNDP Malaysia, Singapore and Brunei Darussalam.

“The strategic partnership with MaGIC infuses Malaysia and global impact investment ecosystem with SDG impact factor, enabling a more productive environment for finding, developing, testing and scaling technology and business solutions that address global and national SDG-related challenges’, she added.

“We are excited to have these 25 local start-ups getting a step closer to accelerate their impact-driven innovation model development for greater market roll out,” said Amiruddin Abdul Shukor, acting CEO of the Malaysian Global Innovation and Creativity Centre (MaGIC).

Regional Director of Asia Pacific, 500 Global, Ee Ling Lim said, “We want to create the next generation of unicorns that serve the communities and the environment, creating a world that is more diverse, inclusive, and sustainable.

“We are excited to be collaborating with UNDP and MaGIC to elevate these 25 impact startups, by coaching them to generate a positive social or environmental impact alongside financial growth. In addition to mentorship, the accelerator will focus on growth strategies, customer acquisition, impact measurement, and capital growth for founders.”

A total of 184 applications were received for four Impact Challenges and one closed door challenge in phase one of SICA. The 25 winners moving on the to the Impact Accelerator programme are:

Khazanah Impact Innovation Challenge
1. Teman My Ventures PLT
2. Robopreneur Sdn Bhd
3. Firegent iASP Sdn Bhd
4. Nova Engineering Services
5. IMM Healthcare Sdn Bhd

Educating the Future Challenge
6. Pandai Education Sdn Bhd
7. Future Laboratory Sdn Bhd
8. Infinite Minds Academy Sdn Bhd
9. IX Ventura Tech Sdn Bhd
10. Thought Asia Sdn Bhd (“Devance Academy”)

Selangor Maritime Gateway (“SMG”) Innovation Challenge
11. Tigasfera Sdn Bhd
12. CH Green Sdn Bhd
13. EmLab Sdn Bhd
14. Mensilin Green Energy Sdn Bhd
15. Fuze Ecoteer Outdoor Adventures Sdn Bhd

MyUNICEF Impact Challenge
16. Goodkids Sdn Bhd
17. Innosens Technology (M) Sdn Bhd
18. LeapEd Services Sdn Bhd
19. Play Unltd PLT
20. Siung Film Productions Sdn Bhd

Proficeo Consultants closed door challenge
21. Blair & Associates Sdn Bhd (“Batik Boutique”)
22. HOMA Sdn Bhd
23. MyBump Media Sdn Bhd
24. Sentuh Sinergi Sdn Bhd
25. Victory Farm At Rooftop Sdn Bhd

In addition to the Impact Accelerator programme, UNDP Malaysia will also be working closely with National Technology and Innovation Sandbox (NTIS).

The collaboration will have similar objectives to nurture the local ecosystem for impact technology and integrate SDG and impact measurement and management into the solutions that are currently being tested in live sandbox environments, UNDP said.

For the pilot initiative, UNDP and NTIS will be focusing on solutions related to energy, smart cities and transportation in 2021, with targeted mentoring and coaching provided by UNDP network of expertise via a six-months curated capacity building programme.

For more information, please visit here or here.

 

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