Sunway iLabs Super Accelerator names 23 startups in third cohort
By Digital News Asia July 6, 2021
- Twenty three out of 115 applications across six verticals made it
- Eventual top five get chance to implement pilot project with Sunway
SUNWAY'S innovation arm, Sunway iLabs, together with Gobi Partners, have kicked off their pre-accelerator phase of the Sunway iLabs Super Accelerator programme.
The selected 23 startups will take part in the one month pre-accelerator, which will end with a pitch event with Sunway, it said in a statement.
The 23 startups came out on top of the 115 applications from several countries across six verticals. The startups were shortlisted based on three key criteria: growth potential, a market-ready product, and synergies with Sunway Group, it added.
“We have been amazed by the quality of startups who have applied to the programme, with so many providing solutions to tackle urgent issues such as youth unemployment, food security and access to financing,” said Eleanor Choong, head of Sunway iLabs Ventures and FutureX Farms.
“We also see a lot of diversity in terms of startup maturity, funding raised and traction. We welcome startups of all sizes to work in Sunway’s living laboratory.”
After the pre-accelerator phase, the top five startups will have the opportunity to implement their proposed pilot project with Sunway in the next three months, receive up to US$24,100 (RM100,000) in equity funding, and connect with major venture capital firms, such as Gobi Partners, SunSEA Capital and many more.
Startups in this current cohort include Abevosys, Aevice Health, Capsphere, eVulx, HomeCrowd, Inventira, Kabel, Maya Greens, Mimosa Medica, MindAppz, MyFarm Lab, MotionsCloud, RentGuard, Roomah, Singular, SmplrSpace, SpacePlus, Spargoeats, Trabble, Verofax, Vitamine, Vouch, and Wise Crafters.
During the programme, participants will enjoy over US$60,200 (RM250,000) in perks from Sunway iLabs partners, which includes Amazon Web Services (AWS), Microsoft, Alliance Bank BizSmart Solutions, and many more, the company said.
The shortlisted startups will go through workshops and one-on-one mentorship sessions to refine their go-to-market and business plan, design a corporate pilot project, and pitch their project to Sunway’s business units.
Startups also have the opportunity to tap into Sunway network of mentors and experts to learn from, Sunway iLabs said.
“We want to give entrepreneurs the opportunity to plug into Sunway’s 13 business units and ecosystem in order for them to take their startup to the next level,” said Matt van Leeuwen (pic), chief innovation officer of Sunway Group.
“We believe that giving entrepreneurs access to the right ingredients to succeed, such as funding, market access, mentorship, and technology tools in a structured format is especially crucial in this day and age.”
Thomas Tsao, founding partner and chairman of Gobi said, “Despite the global pandemic, the irrepressible spirit of Malaysian entrepreneurship cannot be held down. Congratulations to the 23 startups chosen for this cohort! We can’t wait to meet them and see what they are offering.”
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