One can easily gauge the vibrancy of the startup scene based on the amount of accelerators available in a country. And judging for sheer numbers, the startup bug has definitely bitten our Malaysian shores.
An accelerator is a good way for startups to remain competitive beyond the oft-quoted 90% of startups failing statistic, and so we’ve listed out Malaysian accelerators looking to grant our local businesses the skills they need to remain relevant.
There are regional accelerators that have opened their doors to Malaysians, but for this list, we’re focusing on accelerator programmes that are based on our shores.
Global Accelerator Programme (MaGIC)
Open to startups from all ASEAN regions, the GAP Programme aims to “accelerate startups from all over the world, with an interest to expand their business in the ASEAN region, to be investment-ready in 4 months”.
Requirements:
- Startups ideally less than 3 years old
- ASEAN market focus
- Validated ideas/or launched a product or prototype with some traction
- Potential to scale in the ASEAN Region
- Able to commit full-time to the 4-month course
How To Apply:
Applications for the July 2017 intake are open from 3rd March–7 April 2017. Interested applicants can apply here.
Notable Alumni:
Bloomthis, KATSANA, recomn, Ombre, WeStyleAsia, Happy Bunch,Kakitangan.com
Distro Dojo (MaGIC)
Distro Dojo is interested in growth-stage startups that have raised at least USD$150,000 to date, rather than supporting product or idea development stage. Each week, the Dojo’s senseis will guide you through a specific aspect of Growth Hacking.
Requirements:
- Open to citizens of all countries operating startups focused on the ASEAN region
- Targets specifically growth-stage startups
- Requires at least two members to join. One founder, and one member commited to marketing/customer acquisition
- Can be at MaGIC Cyberjaya for at least 3 days/week on average throughout the programme
- Able to commit full-time to the 4-month course.
- Be willing to exchange US$50,000 worth of equity to 500 Startups
- Must have a commited core team
How To Apply:
TBA
Notable Alumni:
KFIT, Grabtaxi, Bloomthis, GoGet, PurelyB, iMoney
Watchtower and Friends (WTF) Accelerator
Aptly taglined ‘we start things’, WTF Accelerator the accelerator programme is designed to take startups through the difficult conceptualisation and seed stages.
Requirements:
- Assess the strength of the founders as the cornerstone of the startup
- A startup with good chance of growing quickly and beyond Malaysia
- Broadly looking for startups in these areas: Big Data Analytics, Creative Content, Information Security, Mobile Internet, Cloud Computing, Green Technology, Wearable Technology, Biotechnology and Smart Grid Technology. Tech startups, basically
- WTF takes an 8% stake in the startup in exchange for participation in the programme and the seed capital given
How To Apply:
TBA
Notable Alumni:
TheLorry, MoneyMatch, Door2DoorDoctor
Cyberview Living Lab Accelerator
Powered by Finnext Capitla, this accelerator has a special focus on FinTech and IoT, and housed in the heart of Cyberjaya.
Requirements:
- Specially for FinTech and IoT
- Only 5 Startups will be chosen
- They do not take any equity
How To Apply:
Applications open until 8th of April here.
Notable Alumni:
TheLorry, MoneyMatch, LaundryDone
L33T Accelerator
It’s been jokingly said by founder Bikesh Lakhmichand that the name ‘L33t’ is the first test. If you understand what it means, congratulations, you’re off to the next round.
Requirements:
- For Startups in the development stage
- Startups need to register and create a deck with the following points:
- What your idea is
- If it is based on something existing in the market, explain how yours is different
- If mockups are needed
- If you have monetisation ideas
- State briefly the breakdown of roles in your team
- What is your projected timeline for a prototype and to market
How To Apply:
TBA, but the Pitch Tuesdays applications are currently open here.
Notable Alumni:
L33T Alpha Startups Accelerator
Specially for idea-stage startups, this pre-accelerator programme is free and open for founders with just a business idea. It’s a 5-day bootcamp that aims to go through idea validation exercise, product development and go to market strategies.
Requirements:
- Early-stage startup with an idea
How To Apply:
April classes are currently available for signup here.
TuneLabs Accelerator
With both an Incubator programme and an Accelerator programme, this TuneTalk-based organisation co-founded by Tony Fernandes, Datuk Kamarudin Meranun and Lim Kian Onn wants to offer everything from the ability to network, mentorship and fundraising assistance.
Requirements:
- At least prototypes or fully developed products. The idea here is to almost immediately go out to raise funds based on the achieved KPIs/metrics in order to drive the business forward with new funding.
- Preferably in industries focusing on but not limited to mobile, travel, e-commerce and FinTech.
How To Apply:
Applications open all-year round here.
HLB Launchpad (Hong Leong Bank)
With a special focus on FinTech, up to five startups will experience an intensive three-month programme specifically focusing on three areas: Simplifying Banking Today, Digitising Customer Journeys & Experience; and Re-Imagining Banking for tomorrow.
Requirements:
- Companies incorporated in Malaysia
• Established <5 Years ago
• Primary focus on FinTech, CX Innovation & Emerging Technologies (e.g. AI, Blockchain, Internet of Things)
• Have a Minimum Viable Product (MVP) or Beta version of a digital offering
• Demonstrate that your offering will have a meaningful impact on market disruption and compelling propositions for consumers
How To Apply:
Applications open until the 15th of May here.
Digi Accelerate
Digi Accelerate offers seed funding up to RM100K per team, and also a 4-month bootcamp in Bangkok alongside startups from Thailand and Myanmar.
Requirements:
- Complete the application form
- Submit a written proposal (mandatory) and a 1 min video pitch (optional)
How To Apply:
TBA
Notable Alumni:
The Hangout
Located in Johor, the Hangout program is an accelerator program by City University London and located inside The Imagineering Institute, Johor.
Requirements:
- Create a 1 minute video introducing the founders
- Complete application
How To Apply:
Applications are open here.