MaGIC & NEXEA expanded their Entrepreneurs Program to include 30 Malaysian startups
NEXEA, a VC fund-cum accelerator, and MaGIC, Malaysia’s Global Innovation and Creativity Centre, have renewed their partnership to continue assisting startups in growing their businesses during this difficult period.
The Entrepreneurs Programme, which acts as a peer-to-peer networking platform, has now expanded to 30 spots for technology or digital-related firms in the concept, early-stage, or growth stage.
Before getting admitted, entrepreneurs or C-suite executives must go through interviews and test sessions, and their firms must have a minimum viable product (MVP) or be profitable.
Founders may then join the club to learn from their peers while also receiving free advantages from partners like Microsoft, IBM, HubSpot, and Google Cloud Platform.
These firms will also benefit from NEXEA and MaGIC’s network of mentors, who are accomplished ex-entrepreneurs or C-level executives who own or have sold their businesses (IPO and M & M&A).
MaGIC has empowered 30 participants through the initiative since cooperating with NEXEA in March 2021.
The Entrepreneurs Programme is said to have helped firms earn more than RM75 million (US $17.9 million) in total combined sales and more than RM1 billion (US $238.8 million) in combined startup valuations as of the third quarter of 2021. According to a joint statement, startups produced a total of RM41 million (US $9.8 million) in combined sales this quarter.
These firms received a total of RM118 million (US$28.1 million) in investment. Lapasar, an e-wholesaler for businesses, ParkIt, a company that provides online parking solutions, Riipay, and Perkaholic, a company that provides employee lifestyle assistance, are among them.
