The fourth cohort of the MYStartup Pre-Accelerator has chosen 30 high-potential startups, as announced on Wednesday by MYStartup, WatchTower, and Friends.
According to a statement from MYStartup, this program, which is led by Cradle Fund Sdn Bhd (Cradle) and carried out under the MYStartup initiative, is intended to help these startups get closer to finding product-market fit and promote the general success of the Malaysian startup ecosystem.
Selected from nearly 100 competitive applications from throughout Malaysia, the startups will start a customized four-month program.
Aligning co-founder goals, creating mission and vision statements, creating business models, designing and iterating minimum viable products (MVPs), conducting market validation, investigating funding and valuation options, comprehending sustainable development goals (SDGs), and understanding governance are just a few of the crucial subjects covered in the program.
Participants gain the skills and resources necessary to create and grow profitable startups with this methodical approach.
“MYStartup is dedicated to advancing the local startup ecosystem by providing access to crucial early-stage support tools and resources such as expert mentoring, seed funding and market access,
“Since the launch of the first cohort in 2022, MYStartup Pre-Accelerator has supported more than 100 Malaysian startups across three cohorts,” said Norman Matthieu Vanhaecke, Group Chief Executive Officer of Cradle.
“This program reflects our commitment to position Malaysia as a key player in driving innovation and advancement in local and global technology sectors, aligning with the Ministry of Science, Technology, and Innovation’s objective to place Malaysia among the top 20 global startup ecosystems by 2030, as described under the Malaysian Startup Ecosystem Roadmap (SUPER) 2021 – 2030,” he added.
It should be mentioned that the pre-accelerator program provides each startup that makes the short list with a comprehensive package that includes weekly learning modules, practical mentoring, on-demand resources, and valuable connections within the tech and entrepreneur industries.
According to the statement, these tools have been painstakingly created to assist startups in creating workable business plans and grabbing expansion chances.
At the conclusion of the program, participants will showcase their constructive and validated MVP to possible investors, offering a crucial chance to obtain funding and advance their growth trajectory.
This methodical approach not only provides startups with valuable knowledge and abilities, but it also sets them up for long-term success in the cutthroat startup market.
“Since 2015, we’ve proudly supported Malaysian startups, with many from our WTF Accelerator evolving into the nation’s most successful ventures,
“Partnering with Cradle through MYStartup, we’re fully committed to the government’s goal of creating 5,000 startups by 2025,” said Sam Shafie, Co-Founder of WatchTower and Friends.
“During this four-month program, our focus is on achieving product-market fit across diverse sectors like software as a service (SaaS), e-commerce, edtech, fintech and artificial intelligence (AI),
“We look forward to witnessing significant achievements and scaling potential under WatchTower and Friends,” he added.
