MYStartup, is bringing back the Accelerator Program for Cohort 2 following the success of Cohort 1 during its launch in June earlier this year.

MYStartup said in a statement, Cohort 1 graduated with an intimate Demo Day event held on November 4, where the top ten startups pitched their products and services to a panel of investors to secure investment opportunities.

The Demo Day concluded with two impressive announcements – six startups that received a total of MYR1.57 million ($35,000) in investments from 17 angel investors and top five best startups that were selected to participate in the exclusive MYStartup Accelerator Immersion Programme.

The Accelerator Program for Cohort 2 will commence with registration from November 14, 2022 to January 9, 2023.

To meet the criteria for the Accelerator Program, the startup must be (i) an incorporated company in Malaysia; (ii) a tech startup with a scalable nature; (iii) in the stage of MVP or revenue-generating and; (iv) looking to expand regionally and globally.

Following which, successful candidates will be selected to undergo MYStartup Accelerator’s six-month intensive enrichment program that will support and bring value to early-stage startups by giving them access to experienced mentors, interactive workshops, and masterclasses by industry experts to help them scale their businesses.

Executed by Cradle Fund Sdn Bhd (Cradle), the MYStartup Accelerator program is part of the larger MYStartup strategy initiated by the Ministry of Science, Technology and Innovation (MOSTI) in Malaysia where it aims to create global successful Malaysian startups throughout their market expansion and scaling-up journey.

As one of the ecosystem drivers in the Malaysian Startup Ecosystem Roadmap (SUPER) 2021-2030, the program plays a significant role in empowering economic growth by enriching the startup network to encourage high-impact collaborations and partnerships at the ecosystem level.

“The success of Cohort 1 has validated our impact on the Malaysian startup ecosystem. As we strive to become one of the best ecosystems regionally and globally, we endeavour to continue providing local startups with world-class mentorship, guidance, funding opportunities and access to resources worth up to MYR2 million ($45,000) through the MYStartup Accelerator Program”, said Ahmad Kashfi Alwi, Senior Vice President of Ecosystem Development, Cradle.

According to the statement, the top five best startups of Cohort 1 that were selected to participate in the exclusive immersion programme include:

1. Cult Creative – network platform that matches creatives with employers through data technology.
2. Troopers – HR solutions platform for jobseekers to find reliable work opportunities and track their progress, and for hiring managers to review current statuses of employees.
3. HeyProp – real estate platform that guarantees the sales of customers’ subscale homes.
4. Krenovator – tech talent platform that bridges that gaps of tech talent shortages in the industry.
5. Products2U – mobile app platform that allows offline stores and communities the opportunity to sell online.

“Aside from investment and funding opportunities, it is with the mentorship and real-world experience brought in by the Accelerator Program that provided us with the chance to be where we are today,” said Shermaine Wong, Founder of Cult Creative.

The startups that are selected for the immersion program will have the chance to connect with other players in the industry and ecosystem, and at the same time gain real-life insights into expanding their business regionally or globally by experiencing how other startups work.

This immersion program is designed to ensure that these startups are well-prepared to enter any market for further business expansion.

“We’re excited to be one of the very few selected for the Overseas Immersion Program, where we will be engaging with a range of potential partners from across the globe”, added Shermaine.

The program’s Cohort 2 will commence on November 14, 2022, targeting a more comprehensive range of technology verticals.

MYStartup Pre-Accelerator Cohort 2 Program launched with 38 startups