6 Startups Receive RM1.57 million In Total Investment Under The MYStartup Accelerator Programme

The MYStartup Accelerator Programme is pleased to announce that six (6) startups from its Cohort 1 have received a total of RM1,570,000.00 investments from 17 angel investors.

The six (6) startups are:

  • Mindaapz (www.mindappz.com) An EdTech marketplace for advanced E-Tuition and education.
  • Krenovator (www.krenovator.cc) A tech talent training and placement platform.
  • IPICK (www.ipick.com.my) An intercity parcel delivery service.
  • ThreadX (www.zoradesigners.com) An Original Equipment Manufacturer (OEM) fashion platform.
  • Cult Creative (www.cultcreative.asia) A network platform that matches creatives and potential employers through data.
  • Products2U (www.products2u.my) A marketplace for the under-served offline community. T

he MYStartup Accelerator Programme is an intensive enrichment programme that supports early-stage startups through mentorship and partnerships.

Running for six (6) months until December 2022, the MYStartup Accelerator Programme sees participating startups benefiting from an expansive list of mentors and experts in respective fields, covering topics such as business scaling and market access.

The programme also provides participating startups access to other partner benefits and resources worth up to RM2 million.

Commenting on the achievement, Norman Matthieu Vanhaecke, Acting Group Chief Executive Officer, Cradle, believes that the investment received by the startups is a sign of confidence and trust from potential investors towards the local startup ecosystem.

“Cradle, as the focal point agency appointed by the Ministry of Science, Technology & Innovation (MOSTI) for early-stage startups, is aware of the difficulty of fundraising for startups. Hence, the commemoration of today’s investment signing ceremony shows Cradle’s utmost support and commitment to bridge local startups to potential investors”, said Norman.

Ahmad Kashfi Alwi, Senior Vice President of Ecosystem Development, Cradle, added, “We received over 500 applications for the first cohort and selected 33 startups who went through a rigorous mentoring process with seasoned industry experts.”

“The investments received by these startups further validate the impact of the MYStartup Accelerator Programme. We will continue to run these programmes to attract more investors and corporate participation to the local startup ecosystem”, added Ahmad Kashfi.

Powered by Cradle, the MyStartup Accelerator Programme is one of the many programmes and initiatives under the larger MYStartup Strategy initiated by MOSTI, which aims to position Malaysia as one of the Top 20 global startup ecosystems by 2030.

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

The programme’s second cohort will commence in November 2022, targeting a more comprehensive range of technology verticals. Applications are open soon via www.mystartup.gov.my

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