Now entering its fourth season/group, the ScaleUp Malaysia program continues its commitment in supporting and helping the startup company ecosystem. In addition, it also creates an opportunity for the founders to further expand the business by providing the appropriate source of funding. At the same time also help them get to know investors, corporate members and related partners.
This year as many as 200 applications from startup companies from all over Asia involving various technology industries have been received. These include the IOT, health, sports, pets, tourism, human resources and finance sectors. However, only seven companies were shortlisted and selected to undergo the accelerator program that lasted for three months.
The list of selected companies are BeeBag, Docspe, Huddle, Petotum, Stayhere and Kabel which will each receive an investment of US$100,000 (RM443,700) for each company. Meanwhile, the seventh company, Sonicboom, has yet to disclose the value of its strategic investment for now.
Throughout the program, all selected participants will be exposed to various theories and closed pitching screening sessions with investors and related partners. It aims to improve the standard of the business model, while encouraging them to drive their potential.
This in turn can help each of them present their project results in front of the jury consisting of famous investors during the culminating event of Demo Day.
Congratulations to all the selected participants! For information, new applications for the fifth batch of ScaleUp Malaysia program have also been opened until the end of this year for anyone interested.