Cradle Fund Sdn Bhd has launched the MYStartup Pre-Accelerator Programme Cohort 2, receiving a total of 126 applications.
Exclusively designed for early-stage startups seeking to validate their ideas and business models, 38 early-stage startups selected will undergo a 6-month programme training. These selected startups will also have direct access to local and international mentors, resources and market exposure with extended post-programme and funding opportunities.
The inaugural cohort which was launched on May 12 this year, 37 startups were selected for the 6-month training. Each startup in the programme 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 27 September 2022.
Ahmad Kashfi Alwi, Senior Vice President, Ecosystem Development, Cradle said “The MYStartup Pre-Accelerator Programme 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. 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 PreAccelerator Programme, 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, S.T Rubaneswaran, CEO, BEYOND4, commented, “Startups joining Cradle’s MYStartup Pre-Accelerator Programme 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 programme. We hope through this programme 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 Programme 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.
For more information regarding Malaysia startup’s ecosystem, please visit www.mystartup.gov.my