26 startups selected by Malaysia’s MYStartup for pre-accelerator cohort 3 program

The MYStartup Pre-Accelerator Cohort 3 Program has chosen 26 high-potential startups, chosen by the Malaysian government through a partnership with Growth Charger, a startup accelerator.

26 startups have been selected from 136 applications received from all over Malaysia, according to a statement released by MYStartup on Friday. They will participate in a customized four-month program.

The program’s stated goals are to help these businesses move faster toward finding product-market fit and to boost the prosperity of Malaysia’s startup scene as a whole.

The companies that were chosen are in four main categories: digitalization, which includes robotics, data solutions, and the industrial internet of things (IoT), smart living, green technology, and hospitality.

The selection process follows the previous cohort of the MYStartup program, which helped high-potential companies get a head start through MYStartup. Examples of these companies include Materials In Works, Sayur Kita School, Luwjistik, Axcyn, Certiify, and more.

“Malaysia’s economic success is dependent on the success of its entrepreneurs,” said Norman Matthieu Vanhaecke, Group Chief Executive Officer of Cradle, who powers MYStartup.

As per his statement, small and medium-sized businesses comprise nearly 98.5 percent of all business entities in the nation, and employ 66 percent of the labor force.

“There is therefore an urgent need to promote an inclusive, high-performing, and sustainable entrepreneurship ecosystem,

“We are thrilled to witness Malaysian technology startups benefit from this program and anticipate the remarkable growth ahead of them,” he added.

In line with the Ministry of Science, Technology, and Innovation’s goal of having Malaysia among the top 20 global startup ecosystems by 2030, he also pointed out that the country is quickly becoming a major player in Southeast Asia’s technology and innovation sector.

The Pre-Accelerator is a full-service program designed for committed startups looking to validate their ideas.

This involves having market exposure, access to innovation hubs, and a mentor network.

The program includes networking events, hands-on mentoring, networking spaces, on-demand resources, strategic learning modules, and networking connections within the ecosystem.

The intention is to help new businesses find growth opportunities and create workable business models.