Sunway iLabs launches 4th cohort with US$23.3k seed funding
By Digital News Asia March 2, 2022
- Applications for 4th cohort Sunway iLabs Super Accelerator open till 1st Apr
- Access to Sunway’s thriving ecosystem to test, validate, scale business
Sunway Innovation Labs (Sunway iLabs) yesterday launched its 2022 Super Accelerator programme for startups to test, validate and scale their businesses with up to US$23,300 (RM100,000) of seed funding and an opportunity to leverage Sunway’s 13 business divisions as well as ecosystem partners.
Launching its fourth cohort this year, the 1+3 programme is for early-stage startups to deliver innovative solutions focusing on six key verticals; Smart Cities, Agrifood tech, Edutech, Digital Health, Retail Tech and Fintech.
In the programme’s one-month pre-accelerator, 20 selected startups will be assessed. Only five will be selected to advance into the three-month accelerator where they will receive funding in two tranches – upon selection and programme completion as well as achievement of agreed milestones.
Led by Sunway Group Chief Innovation Officer and Sunway iLabs Director, Matt van Leeuwen (pic), the Super Accelerator programme is unique as it opens real market opportunities that is both supportive of new ideas and ready for innovation collaboration.
“With the support from Sunway Group, SunSEA Capital, Sunway University and Gobi Partners, the top startups in the accelerator will be able to test, validate and scale their businesses further. In addition to an investment and mentorship, we will also connect the startups to Sunway’s 13 business divisions and ecosystem partners for potential pilots and collaborations during this structured programme,” said Matt.
To date, Sunway iLabs has helped more than 88 startups accelerate through its highly successful programme and invested in 12 startups, which includes RentGuard, Loop Foods, Wise Crafters, Singular, and Trabble from previous cohorts.
Sunway iLabs was recently affirmed as one of the best incubators by clinching the Outstanding Incubator/Coworking Space award at the Malaysian Venture Capital and Private Equity Association (MVCA) Awards 2020/2021. The MVCA Awards recognises industry participants, partners, and entrepreneurs who have achieved significant milestones and made strong contributions to the industry.
“Sunway iLabs Super Accelerator is a unique model that extends beyond a corporate accelerator. As a living lab for startups to test and launch innovative and sustainable solutions, startups get to connect with Sunway's business divisions as well as access to Sunway University's research and academic partners, communities within Sunway, and an extensive network of industry mentors and investors. We look forward to working with startups that will redefine and improve cities, life and industries using Sunway's ecosystem as a launchpad,” said Sunway iLabs Ventures Head Dr Melissa Foo (pic).
A 2021 participant of the Super Accelerator programme, Wise Crafters CEO Samantha Ng highlighted that Sunway iLabs played a vital role in expanding its business growth.
“They are passionate about nurturing young entrepreneurs and the knowledge gained is so practical. On top of that, Sunway iLabs also have been super helpful in connecting Wise Crafters to the Sunway ecosystem, as well as the potential investors. It has been a remarkable journey for our team, pivoting the business during the pandemic and achieving month to month sales growth,” said Samantha.
Throughout the programme, Wise Crafters completed three pilot projects with Sunway XFarms, namely the “Sayang Malaysia” initiative to prepare and distribute over 850 care packs to 11 different communities, including home caretakers, orphans, old folks, B40 families as well as refugees.
Startups with a market ready minimum viable product (MVP) are strongly encouraged to apply for this programme.
Registrations open from 1 March 2022 to 1 April 2022. To register or for more information, visit https://innovationlabs.sunway.edu.my/accelerator/
Perk partners of the Sunway iLabs Accelerator Programme 2022 include AWS, AdEasy, Bawatana, BEAMSTART, Alliance Bank Biz Smart Solution, Rtist, Stripe, Vase.ai, Xero, HubSpot and more.
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