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MYStartup, a national initiative supported by the Malaysian Ministry of Science, Technology and Innovation (MOSTI) and developed by Cradle Fund, has launched its third accelerator program in partnership with venture capital and startup accelerator firm NEXEA. A total of 25 technology startups were selected for the program from a pool of 60 applications representing a variety of industries including artificial intelligence, machine learning, healthcare, and software development.
These startups will undergo a four-month enrichment program designed to accelerate growth and support an environment that fosters innovation. The collaboration between MYStartup and NEXEA will support the Malaysian startup ecosystem and propel it towards greater heights of success and innovation.
Notably, the previous cohort has shown tangible success, with several startups securing investments totaling RM700,000 ($146,396) within the past six months.
Successful startups from the previous cohort include Parkit, Engagelife, iJalan and EB Tech, who collectively achieved an impressive 290% total valuation increase to RM11 million during 2015 ($2.3 million) to 32 million ringgit ($6.69 million). same period. This growth demonstrates the effectiveness of MYStartup and NEXEA’s accelerator programs in nurturing and promoting promising technology startups in the Malaysian startup ecosystem.
Cradle’s Group CEO Norman Matthew Vanhecke said the economic situation in Malaysia, citing estimates from the 2023 Global Startup Ecosystem Report (GSER), which valued Malaysia’s startup ecosystem at $4.6 billion, said: emphasized the important role of startups in
Vanhaecke said Cradle will help build a high-performing, inclusive and sustainable startup ecosystem, which is critical to enabling regional and global expansion of these ventures. He said the MYStartup Accelerator program is an important initiative to achieve these goals, providing startups with intensive guidance and comprehensive resources to scale their businesses and become future multinational champions. I emphasized.
NEXEA Founder and CEO Ben Lim also highlighted the transformative impact of the MYStartup Accelerator in driving exponential growth for participating startups.
Mr Lim highlighted the rigorous selection process that shortlisted 25 ambitious teams from over 940 applications. These startups will compete to become top finalists and secure seed funding worth RM250,000 (up to RM1 million in grants), paving the way for accelerated growth and sustainable growth in Malaysia. We will contribute to the development of a startup ecosystem.
The 25 startups selected for Cohort 3 of the MYStartup Accelerator Program include:
1. Nakngaji, a platform that provides personalized online and home-based Quran learning services.
2. Otter Barista, an automatic robot coffee experience that brews high-quality, fresh coffee.
3. Ollie and Hannah, pet grooming and hotel accommodation specialists.
4. ALT Synergy, a strategic application of biotechnology to increase the effectiveness of supplements.
5. WeAssist is a mobile application developer focused on connecting people to healthcare services.
6. Messengerco, one-stop platform for corporate gifts.
7. EasyRenz, an automated and innovative tenant management solution.
8. Numom is a maternity and baby products store with a focus on breastfeeding support.
9. Resitku, an expense receipt and income recording application and tax solution.
10. Dreamory, an all-in-one business event platform.
11. Heycast.me, a casting platform for the entertainment industry.
12. Property Lab is an artificial intelligence (AI)-powered platform for accurate real estate investment insights.
13. DeepLogi, a smart shipping gateway for small businesses.
14. Siren Networks is a safety application that connects people on the platform with emergency and care service providers.
15. Extraction, AI, and Business-to-Business (B2B) Document AI Software as a Service (SaaS).
16. Quasa.ai is a platform that provides regulatory and compliance technology solutions to businesses.
17. Infinitlab is a modular SaaS enterprise resource planning (ERP) solution powered by an AI-enabled framework for seamless and efficient business management.
18. Choladeck is a web app that creates customized, branded presentations and provides insights into audience engagement.
19. VStream, Digital Drone Insurance Solutions Provider.
20. Astra Medical Technologies, a platform for technological advancement in the medical field.
21. Pixalink, a cloud-based customer acquisition system for small and medium-sized businesses.
22. Toolbox2u is a one-stop industrial material procurement and management service platform.
23. Wander Wild, a one-stop digital platform for experiential travel in Southeast Asia.
24. AI Love Code is a web-based AI tool that aims to help web developers build websites faster by converting simple text into code.
25. EZDisposal is a platform that bridges the gap between customers looking for hassle-free disposal of bulky items and dedicated driver-partners ready to assist.
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