Pre-Accelerator Cohort 5 launched by MYStartup to support early-stage startups
The goal of the MYStartup Pre-Accelerator Cohort 5 is to identify and support promising early-stage companies across the country. It is being launched in partnership with WatchTower and Friends (WTF), a Malaysian startup accelerator.
Pre-seed and early-stage startups from a variety of industries are welcome to apply; there is a particular focus on tech-driven solutions, MYStartup said in a statement on Monday. Applications are now open.
The program, which will run from October 2024 to February 2025, is expected to offer a rigorous, practical learning experience that will hasten the growth and development of startups.
Selected founders will gain access to state-of-the-art resources, top-notch mentoring, and a results-driven curriculum that will hone their business acumen and innovation potential throughout the program.
The top five startups, as with previous cohorts, will be granted entry into a select fundraising accelerator program, which will equip them with the necessary resources and networks to raise capital and advance their businesses beyond the pre-accelerator phase.
Furthermore, the prize money for this most recent cohort is MYR 35,000 ($8153), demonstrating a continued dedication to fostering the expansion of Malaysia’s most promising startups.
The four-month MYStartup Pre-Accelerator Cohort 5 program equips early-stage companies with the knowledge, tactics, and connections they need to be successful.
During three scheduled sessions per week, the cohort will cover important subjects like:
Module 1: Founders’ Foundations – Establishing co-founder alignment, defining vision and mission, and goal-setting through OKRs.
Module 2: Business Model Canvas – Building robust business models, customer profiling, and understanding market landscapes.
Module 3: Minimum Viable Product (MVP) – Designing and launching MVPs with a focus on iterative development.
Module 4: Market Validation – Conducting customer validation, gathering feedback, and refining the product.
Module 5: Early-stage Essentials – Covering legal documents, valuations, fundraising strategies, and pitch preparation.
Module 6: ESG for Startups – Exploring the importance of Environmental, Social, and Governance (ESG) criteria and aligning with sustainable practices to attract investors.
This program guarantees that entrepreneurs are prepared to handle the difficulties of growing in a cutthroat environment.
Driven by MYStartup and an initiative under the Ministry of Science, Technology, and Innovation (MOSTI), the Pre-Accelerator Program continues to be a vital component of Malaysia’s expanding startup ecosystem.
It encourages innovation and the entrepreneurial spirit by giving early-stage businesses a platform to go from creative concepts to solutions that are ready for the market.
The latest cohort of the MYStartup Pre-Accelerator Program has seen the success of previous cohorts, with startups such as Faradays Energy, which received a Cradle Grant to develop and implement a 20kWh unit for a rural electrification project, and Reyhut, which obtained a five-figure investment from an early-stage venture-capital, contributing to the success of the program.
