- 4-month program designed to promote growth and innovation
- Increasing Malaysian companies ‘ chances of becoming global leaders in the future
MYStartup, in partnership with NEXEA, a venture funds and company pedal company, has launched its second accelerator program where over 900 programs were received with a 60 percent, ensuring the final choice with 25 appealing tech companies chosen to be onboarded comprising four main industries: artificial intelligence, machine learning, care, and application development.
[Ed: Para updated for reliability. The number of uses received was omitted in an earlier type. ]
The top 25 startups may be subject to a four-month enrichment program, according to MYStartup, designed to promote innovation and develop significant changes in Malaysia’s startup ecosystem.
The preceding cohort saw some startups securing up to US$ 146,400 ( RM700,000 ) worth of investments within the past six months. These companies, which include Parkit, Engagelife, iJalan and EB Tech, even achieved an consolidated full assessment of 290 %, growing from US$ 2. 3 million to US$ 6. 7 million ( RM11 million to RM32 million ) over the same period.
Norman Matthieu Vanhaecke ( pic ), Group CEO of Cradle, said, “Startups are one of the fundamental building blocks in Malaysia’s economic development. Based on the Global Startup Ecosystem Report ( GSER ) report in 2023, Malaysia’s startup ecosystem was estimated to be worth US$ 4. 6 billion. At Cradle, we recognise the important need to develop a great performing, diverse, globalised, and green startup ecosystem in the country to enable these ventures for regional and global expansion. ”
Additionally, Normanan noted that Cradle’s objectives extend far beyond economic, with intensive mentorships and extensive resources, as the primary agency promoting the creation and growth of upcoming leading Malaysian tech companies. Through these initiatives, we hope to give our startups the necessary exposure and support to expand their businesses, thereby promoting Indonesian startups as potential future foreign leaders. ”
The MYStartup Accelerator programme is designed for scalable and technology-driven startups, either in the revenue-generating stage or with a minimum viable product ( MVP ). To day, the MYStartup Accelerator has effectively empowered 58 companies, across two groups. ” The next two groups of MYStartup Accelerator, guided by our investor-mentors and Cradle’s assistance, have on ordinary doubled their progress year-on-year. 25 of the 940 applications accepted this year will compete to become the best finalists and receive first funding of RM250,000 with offers up to RM1 million. Along with Cradle, we look forward to creating a bigger effect, accelerating their development and, finally, cultivating an equitable and sustainable business ecosystem in the country, ” said Ben Lim, founder and CEO of Nexea.
Eeyong Ho, chairman of Otter Barista, one of the 25 selected companies said,” Otter Barista aims to bring value espresso closer to you, making your experience more smooth and easy. With our superior robotics, consumers you easily connect with the system to place orders, and the machine handles the end-to-end process of newly brewing beverages, all at a lower cost. We are looking forward to taking part in this throttle program, particularly the one-on-one training sessions with our leader mentors and investors. Through the tutoring and designated seminars, we aim to better reinforce our company’s ideals and business unit, accelerating our progress across Malaysia. “
The 25 companies that were chosen for the MYStartup Accelerator Programme Cohort 3 are:
- Nakngaji, a platform that offers personalized virtual and home-based Quran understanding service.
- Otter Barista, an automated mechanical coffee brewing encounter with high-quality and new recipes.
- Ollie & Hana, the largest dog grooming and hotel board professional.
- ALT Synergy, a proper application of biology to increase product performance.
- WeAssist, mobile applications developer focusing on connecting people to healthcare services.
- Messengerco, a one-stop platform for corporate gifting.
- EasyRenz, an automated & smart tenant management solution.
- a mother who specializes in maternity and baby products with a focus on breastfeeding support.
- Resitku is a taxation solution as well as an application for expense receipts and income records.
- Dreamory, an all-in-one business event platform.
- Heycast. me, a casting platform for entertainment industry.
- Property Lab, AI-driven platform for precise property investment insights.
- DeepLogi, a smart shipping gateway for small and medium-sized business.
- A safety application called Siriren Networks connects users on a platform with emergency and care service providers.
- Axtraction AI, B2B document AI Software as a Service ( SaaS ).
- Quasa. ai, provides regulatory and compliance tech solutions to businesses.
- Infinitlab, a modular SaaS ERP solution empowered by an AI-ready framework for seamless and efficient business management.
- Choladeck, A web app that creates customized, brand-aligned presentations and offers insights on audience engagement.