MOSTI FUELS INNOVATION THROUGH MYSTARTUP PRE-ACCELERATOR PROGRAMME

MOSTI embarks on a strategy to further unify various players and enrich the start-up network in encouraging high-impact collaborations at the ecosystem level.

In supporting and enhancing Malaysian start-ups, the Ministry of Science, Technology and Innovation (MOSTI) through Cradle Fund Sdn Bhd (Cradle) launched MYStartup Pre-Accelerator programme. This 6-month programme o ers world-class mentors and potential funding opportunities to selected tech start-ups in Malaysia.

Beginning in June 2022 up to December 2022, the rst cohort of start-ups from the MYStartup Accelerator programme stand to bene t from an expansive list of mentors and experts in elds such as business scaling and market access. Participating start-ups will also gain access to other bene ts and resources worth up to RM2 million, besides the opportunity to partner with any of the 80 corporate bodies within the programme’s exclusive database.

Norman Matthieu Vanhaecke, Acting Group Chief Executive O cer of Cradle said, “We are excited to see Malaysian technology start-ups reap the bene ts of this programme and experience the explosive growth that await them. Malaysia is fast becoming a force to be reckoned with in the digital and technology industry in Southeast Asia, and this augurs well with MOSTI’s aspiration for the nation to be recognised as a leading start-up hub.”

“Throughout the six-month long programme, we can look forward to many exciting o erings awaiting participating startups. The top 33 startups who met the set criteria were selected from more than 500 applications received for the programme. These successful candidates will receive world-class assistance and guidance through workshops by seasoned experts providing startups with an opportunity to scale their business exponentially on a regional scale while opening up funding opportunities,” he added.

The MYStartup Accelerator is part of the larger MYStartup strategy introduced by MOSTI, aimed at creating globally successful Malaysian start-ups. Under this programme, participants have access to 18 angel investors, who are founders of successful startups. These experts will guide the participants throughout their market expansion and scaling up journey.

Notable mentors participating in the programme include Peter Wee, business expert and a Malaysian Business Angel Network council member; Eddy Wong, co-founder and Chief Executive O cer/ Managing Director of VSure Life; and, Alan Lim from NEXEA.

Aside from the golden

Opportunities

o ered to participants, they also stand to receive other attractive perks which include potential funding opportunities of up to RM600,000 from Cradle’s CIP Sprint grant programme; or follow-on funding of up to RM1million from potential partners. Other post-programme bene ts include opportunities to participate in local and overseas immersion programmes and access to various tools and resources.

MYStartup Programme is listed as one of the 16 interventions under the Malaysian Start-up Ecosystem Roadmap (SUPER) 2021 – 2030. Initiated by MOSTI and powered by Cradle, the MYStartup programme will see participating start-ups bene ting from various development programmes and funding opportunities. Start-ups and ecosystem players are encouraged to log on to www.mystartup.gov.my to learn more about this programme.