ScaleUp Malaysia has announced its Cohort IV and investments in seven innovative companies. This cohort marks a significant milestone for ScaleUp Malaysia, with upfront investments for its accelerator program as opposed to at the end of the program as with previous cohorts.
“We are delighted to welcome Cohort IV to our accelerator program,” said Andre Sequerah, Managing Partner at ScaleUp Malaysia.
“Our selection process was highly competitive, and we are thrilled to have seven outstanding and diverse companies on board. These companies have been selected based on their potential to drive regional scalability and positive impact to society and the economy. We are also happy to add 2 female founded companies to our portfolio which brings us to a total of 14 companies with female founders.”
The focus of the accelerator program is to equip the companies with the necessary skills and knowledge to take their businesses to the next level. The program will provide the companies with best practices in pitching, financial modelling, business strategy, and product development.
Tay Shan Li, Managing Partner at ScaleUp Malaysia, added, “We are committed to providing our cohort companies with comprehensive support and resources to help them grow and succeed. Our team of experienced mentors and advisors will guide them through the program to refine their business models and strategies to attract further funding and drive regional growth. Over the past 3 cohorts we have designed best practices to work with our investee companies and have seen immense success in helping them regionalise and raise their next rounds. ”
The companies selected for Cohort IV of ScaleUp Malaysia are BeeBag, Docspe, Huddle, Petotum, Stayhere, and Kabel who will receive a US$100,000 investment each, while the seventh company, Sonicboom, will receive an undisclosed strategic investment.
These companies will undergo a rigorous 12-week accelerator program aimed at refining their business models, developing regional scalability, and will culminate in a demo day with investors from all over the world.
ScaleUp Malaysia received over 200 applications for Cohort IV, with a success rate of less than 4%. The firm received applications from countries all over the region including Hong Kong, Philippines, Vietnam, Singapore and Indonesia. C
ountries expressing interests came as far as from the United Kingdom and United States of America. Selected companies comprise of ventures in IOT, Health Tech, SportsTech, Pet Care, Travel Tech, HR Tech and Fintech. For more information about ScaleUp Malaysia, please visit their website at www.scaleup.my.
Applications are open through the end of the year for Cohort 5.