[Written in partnership with MYStartup, but the editorial team had full control over the content.]
Powered by Cradle and WatchTower and Friends, the MYStartup Pre-Accelerator Cohort 4 successfully concluded its Demo Day on October 4.
This marks the culmination of over three months of intensive mentorship, training, and business development.
11 finalist startups presented their minimum viable products (MVPs) to a panel of judges, showcasing innovative solutions spanning industries such as fintech, healthtech, and agritech.
These startups were among the 30 initially shortlisted for the programme, having undergone a rigorous process to refine their business models and strategies for market entry.
The judging panel featured key figures from Malaysia’s startup ecosystem. This includes:
- Zehan Teoh, Head of Ecosystem Development at Cradle
- CK Chang, founder of OXWHITE
- Audra Pakalnyte, Partner at First Move
- Yeoh Chen Chow, an hourly advisor and angel investor
- Steven Wong, Chief Technology Officer (CTO) of pitchIN
Each startup was evaluated based on criteria such as level of innovation, market potential, and execution capability.
From the 11 startups, five startups were crowned the top winners, each receiving RM35,000 in cash prizes alongside additional support and access to MYStartup and partner perks.
The top five startups are as follows:
1. DashAdd
DashAdd provides AI-powered dashboards that help businesses track financial performance, forecast cash flow, and secure funding for smarter growth.
The startup is led by co-founder and CEO Awzair Hamid, who has a wealth of experience in auditing and financing roles.
2. IOXTECH Global
IOXTECH Global is a startup revolutionising construction management with real-time monitoring, seamless progress reports, and efficient workforce tracking for on-time, on-budget completions.
Muhd Amin Rafiq, the co-founder of IOXTECH Global, shared that before the programme, he had felt uncertain about where to start but shared that the structure and tools provided have been invaluable in building the startup’s MVP.
“We’ve gained critical insights into startup development, and the mentors’ feedback has helped us fine-tune our business model and validate our strategies for the market.”
3. Faradays Energy
Creating a new generation of green technologies, Faradays Energy enables clean, abundant, and low-cost hydrogen.
With the goal to provide a cost-effective alternative to traditional energy sources, Faradays Energy’s solution will reduce greenhouse gas emissions and improve air quality, ending the age of fossil fuels.
The company is led by co-founders Yoghen Pillai C Manoharan and Viknesh S Balachandran.
4. Nanofertech
Nanofertech’s solution involves AI-powered controlled-release technology for precise fertilisation in agriculture.
Co-founder of Nanofertech, Nisha Nair, shared, “Throughout the programme, we connected with successful founders who generously shared their insights, especially the mistakes they made along the way. Learning from their experiences helped us avoid common pitfalls and gain valuable insights.”
“It was incredibly motivating and relatable as a young startup. I highly recommend the pre-accelerator to anyone starting or running a business, as it provides powerful validation and mentorship that refines your business plan to ensure market relevance.”
5. Vidanex
This startup is pioneering AI-driven cancer diagnosis with faster results and personalised treatment using advanced digital imaging.
“Incorporating digitalisation into our workflow revolutionises the traditional processes of pathology and diagnostic interpretation,” its website stated. “Through advanced digital platforms, we streamline the entire diagnostic workflow, from sample collection to result analysis.”
Vidanex is reported to be the first spin-off company of the International Medical University. The Kuala Lumpur-based startup is led by co-founder Daniel Lim.
No shortage of talent in Malaysia
Speaking at the event, Norman Matthieu Vanhaecke, Group CEO of Cradle, praised the quality of the pitches.
He said, “The innovation and entrepreneurial spirit demonstrated by this cohort reaffirms our confidence in Malaysia’s talent pool. Startups are the pioneers who see opportunities where others see obstacles, and at Cradle, we understand their vital role in shaping the future of Malaysia’s economy.”
Sam Shafie, CEO and co-founder of WatchTower and Friends, shared that the team has been running programmes for entrepreneurs since 2015. Throughout the years, they can attest that there’s no shortage of talent in Malaysia.
This much is obvious by just looking at the top five winners on the recent demo day.
In any case, this is just the first step for all the startups, including other finalists and participants of the pre-accelerator. With the support of platforms like MYStartup, the road ahead for them will hopefully be long and fulfilling.
On that note, applications for Cohort 5 of this pre-accelerator are open from now until November 6, 2024, more details here.
Featured Image Credit: MYStartup