Six startups receive investment under MyStartup Accelerator

Six startups receive investment under MyStartup Accelerator

  • Received investments through 17 angel traders
  • Supports early-stage startups through mentorship, partnerships 

The six startups founders and their respective teams together with their angel investors at the signing ceremony to officiate the investment. Also present is Ahmad Kashfi Alwi, senior vice president of Ecosystem Development, Cradle - seated 4th from the left.)  The MYStartup Accelerator Programme provides announces that six  startups from its Cohort 1 have received an overall total of US$348, 500 (RM1. 57 million) investments from 17 angel investors.

In the statement, Cradle Finance Sdn Bhd mentioned the six online companies are Mindaapz, a good edtech marketplace pertaining to advanced e-tuition and education; Krenovator , a tech talent instruction and placement platform; Ipick, an intercity parcel delivery support; and ThreadX , a pioneering equipment manufacturer fashion platform.

The other two online companies include Cult Creative, a network platform that fits creatives and potential employers through information and Products2U, a marketplace for the under-served offline community.
Based on Cradle, the MYStartup Accelerator Programme is an intensive enrichment program that supports early-stage startups through mentorship and partnerships.  

Operating for six months until December 2022, this programme sees participating startups benefiting from a good expansive list of mentors and experts in respective fields, covering topics such as company scaling and market access, it stated.
The programme furthermore provides participating online companies access to other companion benefits and assets worth up to US$444, 000 (RM2 million), Cradle said.

Commenting within the achievement, Norman Matthieu Vanhaecke, acting team chief executive officer at Holder, said the expenditure received by the online companies is a sign of confidence and trust from potential investors towards the local start-up ecosystem.
“Hence, the particular commemoration of this investment decision signing ceremony displays Cradle’s utmost support and commitment to bridge local startups to potential investors”, he said.

Ahmad Kashfi Alwi, senior vice president of Environment Development, Cradle stated the firm received over 500 apps for the first cohort and selected 33 startups who experienced a rigorous coaching process with seasoned industry experts.

“The investments received by these online companies further validate the impact of the MYStartup Accelerator Programme.

“We will continue to run these types of programmes to entice more investors plus corporate participation towards the local startup ecosystem”, said Ahmad Kashfi.

The particular programme’s second cohort will commence within November 2022, concentrating on a more comprehensive range of technology verticals.