BEYOND4, an intelligent multi-tier accelerator ecosystem based in Malaysia, aims to build more profitable startups with its accelerator programs, its top executive said.
“We are here today to help you to achieve the dreams of being a successful startup funded by Cradle [Fund], supported by the ecosystem and in three years’ time to create probably not a unicorn…Unicorn is a very hyped-up word now, [but] profitable startup in the next few years,” BEYOND4 Chief Executive Officer S.T Rubaneswaran said at the MYStartup Pre-Accelerator Cohort 1 Demo Day.
Rubaneswaran also explained how the startup accelerator programs at BEYOND4 would help tech startups which include three phases – identify, build and scale.
“Once you identify startups, the next thing you do is to build them. You’re going to do a lot of things. your business strategies, partnerships, go to market, shared services, operations, finance, legal getting talents.. and fundraising,” he said, adding that most startups do not get to the second part, which is the “build” stage.
“We put up a plan and a list of companies, resources and services to help the top five that make it into this program to come to the next stage and to eventually raise between half a million to 10 million [ringgit] in fundraising, which we will do it together with them,” Rubaneswaran explained during his opening speech.
On Tuesday, 15 startups across nine verticals including manufacturing, SAAS, HealthTech, logistics, AgriTech, FoodTech, FinTech, EdTech and PropTech were chosen to pitch on the demo day. The 15 startups were selected based on seven key criteria which include problem, market, solution, growth potential, founders team, business model and “investability”.
The selected startups include Iremya, Aimii Wellness, IIOTSME, HeyProp!, Luwjistik, Insureku, Loop Foods, Metaversity Lifelong Learning, UniVRse, Trustpal, Materials in Work, Sayur Kita School, Bytespace, Halo Delivery and Jazro.
These startups were selected from a total of 167 applications for Cohort 1, according to him. There were also more than 40 mentors from all over the world mentoring the startups.
The top five startups will be chosen to claim the immersion program opportunity from Cradle Fund. These startups will also join the startup acceleration phase 2 and receive venture building assistance which will prepare them to become investment-ready startups.
The MYStartup Pre-Accelerator program is an initiative by the Ministry of Science, Technology and Innovation, powered by Malaysia government-owned early stage start-up influencer Cradle Fund, in partnership with BEYOND4.
The BEYOND4 integrated digital ecosystem strives to make Southeast Asia as a global powerhouse for innovation. Its ecosystem consists of five digitally integrated multi-tier accelerators, designed for all talent, from university all the way to nurturing and investing in startup founders.