Cradle Fund Sdn Bhd (Cradle), Malaysia’s early-stage startup influencer under the Ministry of Science, Technology & Innovation (MOSTI), has announced the launch of the MYStartup Pre-Accelerator Program Cohort 2 on Thursday, following the success of the Cohort 1 program which ended last month.

This new batch received a total of 126 applications, and the top 40 early-stage startups selected will undergo a 6-month program training. 

The MYStartup Pre-Accelerator program is exclusively designed for early-stage startups seeking to validate their ideas and business models.

Selected startups will have direct access to local and international mentors, resources, and market exposure with extended post-program and funding opportunities. 

The inaugural cohort which was launched on May 12, 37 startups were selected for the 6-month training. Each startup in the program received support and assistance to develop their knowledge and skills in building and growing their businesses through extensive masterclasses and mentorship sessions.

From the initial pool of 37 startups, 15 startups were selected to pitch their business ideas to a panel of judges during a Demo Day held on Sept 27.

“The MYStartup Pre-Accelerator Program is part of the larger MYStartup Strategy initiated by MOSTI where it aims to elevate the local startup ecosystem to the next level by providing them with seed funding, resources, and coaching,” Cradle Senior Vice President, Ecosystem Development, Ahmad Kashfi Alwi said. “Throughout Cradle’s nineteen-year journey in enriching and strengthening startups, we have often seen in the ecosystem, early-stage startups lack the expertise and proper guidance in their journey of scaling their businesses.”

“Cradle hopes that through initiatives such as the MYStartup Pre-Accelerator Program, we would be able to enhance and empower them with business acumen and financial expertise while linking them with the much-needed network and resources”, he added.
Also present at the event, BEYOND4 Chief Executive S.T Rubaneswaran said, “Startups joining Cradle’s MYStartup Pre-Accelerator Program have the unique opportunity to supercharge their growth with top-notch mentoring, training, and guidance, all without giving up a single percentage point of equity throughout the program. We hope through this program startups have gained the boost in confidence to further achieve their goals and gain prospects to grow their businesses.”

Listed as one of the 16 interventions under the Malaysian Startup Ecosystem Roadmap (SUPER) 2021-2030, the MYStartup Program plays a significant role in MOSTI’s aim of creating 5000 startups and five (5) unicorns by end of 2025 to empower economic growth through science, technology, and innovation.

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MYStartup Strategy is a national initiative by MOSTI and powered by Cradle. It consists of several programs which aim to strengthen the startup ecosystem and community in Malaysia.

Among them are MYStartup Roadshow, MYHackathon, MYStartup Pre-Accelerator, MYStartup Accelerator, MYStartup Internship, and MYStartup Mentorship. 

The program aims to support the long-term sustainable development and expansion  of startups through content that focuses on capacity building and  human capital. It will ensure startups are thoroughly guided starting from the ideation stage, trained, supported, and opportunity to highlight their company profile to attract foreign investors.  

The MYStartup Program is part of the Malaysian Startup Ecosystem Roadmap (SUPER), while Cradle as the focal point agency for the startup ecosystem which has been mandated to ensure that this strategy benefits the startup ecosystem as a whole. 

This effort is also in tandem with MOSTI’s target of creating 5,000 startups and producing five (5) unicorn status companies by 2025.

Malaysia’s BEYOND4 aims to build more profitable startups with its accelerator programs