Growth stage accelerator ScaleUp Malaysia said Thursday it will invest a total of $1 million in ten startups in its 2022 Cohort which will officially start in the fourth quarter of 2022.

ScaleUp Malaysia said in a statement that it has increased its investment in its startups to $100,000 per company, making it one of the largest cheque sizes from an accelerator in Southeast Asia.

Participants will also be receiving investments from the accelerator before commencing the program instead of at the end of the programme, it said.

“We have been tremendously blessed to have worked with some of the best companies in the region over the last three cohorts. This increase in our investment size upfront shows our belief that Malaysia and Southeast Asia have some truly remarkable founders. We hope to support them on their journey,” said Xelia Tong, Managing Partner of ScaleUp Malaysia.

Applicants who apply for Cohort 2022 will also experience a quick turnaround time to know if they will make it through. ScaleUp Malaysia aims to inform participants of their interest acceptance and investment for Cohort 2022 within five weeks of applying to the program.

“We recognise that this is a very precarious time for founders with so much uncertainty with the economic situation in the region and around the world. This is why we have streamlined our process to make sure that exceptional startups get funded quickly so they hit the ground running and scale effectively,” said Andre Sequerah, Managing Partner of ScaleUp Malaysia.

ScaleUp Malaysia has announced investments in 30 startups since 2020 including Iimmpact, Fefifo, AOne, Homa and Guruinnovatif. With one exit already under its belt and follow-on investments of up to 15 times after the program, its top companies have seen a 300 percent increase in revenue since participating in ScaleUp Malaysia.

“We accept startups from all industries and verticals but what is really important is that they need to demonstrate product-market-fit, a sizable market and a compelling go-to-market plan,” Sequerah added.

ScaleUp Malaysia not only accepts startups from Malaysia but from all over the world. Startups from 26 countries applied for its last cohort.

The accelerator also noted that it has strong representation of female founders compared to the industry in general and seeks to support more women entrepreneurs.

“We’re really excited that more than 40 percent of the startups we back have female founders. They are smart, driven and determined to make their mark. We are looking forward to helping more women make a difference,” said Tong.

Applications for Cohort 2022 are now officially open until 31st August 2022.

ScaleUp Malaysia is an accelerator that focuses exclusively on growth-stage companies in Malaysia – helping them position their business for exponential growth. It is founded by a team of experienced entrepreneurs, professionals and seasoned investors.

Championing the concept of building “Pegasus” companies of building fast-growing profitable businesses, ScaleUp Malaysia companies go through a programme that includes in-class training, one to one coaching and equity investment for selected companies.

The accelerator has announced investments into 30 companies since 2020 which include fast growing startups such as AOne, Iimmpact, ATX, Fefifo, and Homa.

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