Entrepreneur

We Kept Asking If This Cockroach Tech Funding Program In M'sia Is An April Fool's Joke

Even though these guys launched their tech funding program on the 1st of April, it’s no joke. We had to ask them quite a few times to be sure. You never know these days.

They say that if the going gets tough, the tough get going. So Exabytes is offering their tech expertise for resilient cockroach startups still scuttling along despite environmental conditions in their new bid to grow the startup ecosystem in Malaysia.

Founder and Executive Director of Exabytes, Chan Kee Siak stated that, “A cockroach startup is the one which keeps struggling and moves forward in spite of changing environments, market conditions and investment scenarios, just like a cockroach.”

“The introduction of the Cockroach Startup Program is part of Exabytes’ continual commitments in nurturing startups by providing a sustainable platform to help drive the setup of aspiring startups in Malaysia.”

A web hosting company based in Malaysia, Exabytes exchanges site credits for site hosting services. These guys are no strangers to the scene, having just recently helped Malaysian SME’s GROW their company websites just last month. Now, they’re focusing on fauna instead of flora with this new bid to turn cockroaches into self-dubbed Immortal Cockroaches.

And Here’s What They’re Offering

The Exabytes team at the launch.

The program will run in two stages:

Stage 1: For startups who have joined incubator or accelerator programs.

  • Availability: 1,000 startups.
  • Offer: RM3,000 worth of credit for one (1) year, including Domains to Hosting, Servers and Online Marketing.

Stage 2: For shortlisted startups which have successfully developed their product.

  • Availability: Twenty (20) startups from Stage 1.
  • Offer: RM30,000 in Credit for production use. They will also receive RM20,000 in cash in exchange for 5% of equity to Exabytes.

Joining is free. But to qualify, the startup should be established less than 24 months ago (or two cockroach lifespans) and is currently attached to an accelerator, like MaGIC, Cradle, Mad Incubator, among others.

According to Kee Siak again, Malaysia’s startup ecosystem has seen more and more innovation, with more and more roaches scurrying into market. However, they face a common problem where they lack the insight on how to scale beyond Malaysian borders and go global.

On top of the continuous government support into the startup scene, these guys are supplementing it with their own effort to cultivate the scene.

“The Malaysian government is always supportive of startups and tech innovation. There is also a passionate group of startup advocates comprising actual business owners or successful entrepreneurs, who are willing to help other entrepreneurs succeed by way of investment funding, providing mentorship and access to global network,” said Kee Siak.

“To complement these startup advocates, we have designed Cockroach Startup Program to support pre-seed to seed high potential startup from all industry categories by way of technology funding to build and grow their business.”

For applications, you can go to this link, or click on the blue cockroach on the Exabytes website floating above the domain bar.

The cockroach to click.

 

 

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