High potential startups unveiled at the MyStartup Pre-Accelerator Cohort 3 Demo Day 

High potential startups unveiled at the MyStartup Pre-Accelerator Cohort 3 Demo Day 
  • 5 companies were selected as best winners&nbsp,
  • The third group included 26 businesses from a variety of industries.

Winners from the MyStartup Pre-Accelerator Cohort 3

After more than 16 days of intensive mentoring and consultations, the MyStartup Pre-Ameriator Cohort 3 and Growth Charger celebrated development and growth at its leading Demo Day. The program also recognized the cohort’s high-potential companies after they successfully completed proof-of-concept patterns while developing and verifying concepts and business models.

A total of 26 startups spanning various industries of green tech, bright life, kindness, and digitalisation were selected to participate in the programme’s second cohort spearheaded by Cradle and MyStartup. At the Demo Day, twelve champion companies pitched their business tips to an audience of fellow entrepreneurs, instructors, potential investors, and the greater Malaysia business community, including a screen of ten judges comprising business leaders such as Cradle, Maybank, Cyberview Sdn Bhd, Dana Impak, Tuas Capital Partners and The Hive Southeast Asia, Jewel Digital Ventures, MBI Selangor, Orbit Malaysia, Origgin Ventures, and SBI Ventures Malaysia.

As the event concluded, five startups were selected as the top winners. The companies include:

1. ScancerAI: A company that utilises advanced AI for early lung cancer detection through chest X- ray analysis, aiming to revolutionise diagnostics. This approach was aided in part by Universiti Kebangsaan Malaysia’s expertise.

2. Practistica: A startup that streamlines assignment creation, grading, and analysis for teachers. It features a large database of high- quality questions where teachers can drag- and- drop to create assignments, grade objective and subjective questions, and use analytics to focus on each student’s weaknesses.

3. Stay WokeProperty: A marketplace for long- term property rentals. It has a unique value proposition that focuses on assisting property owners in renting out quickly and avoiding the hassle of rental collection and maintenance.

4. FinDoc: An AI- driven online credit screening and advisory platform. FinDoc offers personalized advice to improve credit health and address financing needs for borrowers and recommends the best financial products. For agents and banks, it acts as a lead generator.

5. Beseek: A quick-to-use tool for analyzing content that includes qualitative analysis, such as identifying key highlights and analyzing gaps between private data and public knowledge.

Norman Matthieu Vanhaecke, group CEO of Cradle Fund Sdn Bhd, reiterated the crucial roles startups play in the ecosystem and the agency’s commitment to developing a high- performing, inclusive, and sustainable startup ecosystem in the country. We launched the first cohort in 2022 to help guide and coach early-stage startups and increase their growth potential. More than 100 Malaysian startups have benefited from the programme, with most startups expanding their market and adopting technology- led solutions such as advanced AI to revolutionise diagnostics, blockchain, and online interactive web platforms. For this cohort, we are proud to support all 26 participating startups, each utilising unique technology, data, and intelligence to develop viable proofs of concept that meet market needs and bridge existing gaps”.

” We would like to congratulate the winning teams, finalists, and all participating startups. We hope to equip these innovators with a solid foundation, and we look forward to their continued impact in their respective industries”, he added.

Additionally, Syed Haizam Jamalullail, managing partner of Tuas Capital Partners and The Hive Southeast Asia, who is also one of the judges, expressed admiration for the talent and innovation that can be found at the MyStartup Pre- Accelerator Demo Day. All 12 startup founders displayed exceptional quality, blending creativity, strategic vision, and entrepreneurial spirit. These startups are clearly growth-driven and ready to launch their ventures despite being in their early stages.

We at The Hive Southeast Asia look forward to seeing how successful these talented entrepreneurs will be in the future, he continued.

Shamsuddin Salleh, founder of ScancerAI and one of the top five startups, described the programme as instrumental in realising his innovative ideas, preparing the business for market entry, and opening doors for future collaborations”. Building a startup is a challenging but incredibly rewarding journey. Apart from embracing feedback and being open to pivoting your approach, a supportive network of mentors, peers, and advisors is critical. The program’s extensive mentorship, networking opportunities, and access to industry experts were essential in advancing ScancerAI to the next level.

Through the pitch clinic sessions, which have helped us refine our business model and strategies,” we have gained valuable insights into various aspects of startup development from the workshops and coaching sessions,” he continued.

In addition to taking home US$ 1600 ( RM7, 500 ) each and gaining recognition, the top five startups will join the MyStartup Market Access Programme. They can establish connections and communicate with key ecosystem players and potential partners around the world through this program. GrowthCharger will also continue to support these startups after the program by facilitating strategic ecosystem connections and granting access to foreign investors.

Startups selected for this cohort have benefited from individualized mentorship and one-on-one guidance from experienced entrepreneurs, which each cohort member has received over the course of four months. They also have benefited from using MyStartup and Growth Charger’s resources and global network.

Since the onboarding session, which was held last March, these innovators have been given multiple opportunities and perks, including exclusive networking events with global mentors and partners, invitations and group visits to innovation hubs, market research access, and channels to funding opportunities.

More than ten experts who served as mentors for the third cohort of the program come from a variety of backgrounds and have special expertise in various fields of expertise, but all come together with a shared commitment to positively shaping the next wave of entrepreneurs.

An initiative by the Ministry of Science, Technology &amp, Innovation, powered by Cradle, the MyStartup Pre- Accelerator aims to propel early- stage and pre- seed startups through a flexible yet comprehensive programme. This third iteration of the program, which is in line with the Malaysia Startup Ecosystem Roadmap 2021- 2030 to bring together every important player in the community to create a scalable, sustainable, and inclusive startup ecosystem, continues to be a beacon of opportunity for aspiring entrepreneurs looking to accelerate their business growth.