Applications are now open until 10th November 2024.

KUALA LUMPUR, Malaysia, Oct 28 (Bernama) -- MYStartup, in collaboration with the Malaysian startup accelerator WatchTower and Friends (WTF), proudly announces the launch of the MYStartup Pre-Accelerator Cohort 5, aimed at discovering and nurturing promising early-stage startups across the nation. Applications are now open, welcoming pre-seed and early-stage startups from diverse sectors, with a strong emphasis on tech-driven solutions.

The programme will run from October 2024 through February 2025, providing an intensive, hands-on learning experience designed to accelerate startup growth and development. Throughout the programme, selected founders will benefit from world-class mentorship, access to cutting-edge resources, and a results-driven curriculum that sharpens their business acumen and innovation potential.

As with previous cohorts, the Top 5 startups will earn a place in an exclusive fundraising accelerator programme, providing them with the essential tools and connections to secure investment and scale their ventures beyond the pre-accelerator stage. Additionally, this latest cohort features a prize money of RM35,000, reflecting a continued commitment to supporting the growth of Malaysia’s most promising startups.

Programme Highlights

The MYStartup Pre-Accelerator Cohort 5 is a comprehensive four-month programme designed to empower early-stage startups with the skills, strategies, and network necessary to succeed. With structured sessions held three times a week, the cohort will cover crucial topics such as:
 

• 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 thoughtfully curated curriculum ensures that startups are well-equipped to face the challenges of scaling in a competitive landscape.

An initiative under the Ministry of Science, Technology, and Innovation (MOSTI) and driven by MYStartup, the Pre-Accelerator Programme remains a cornerstone of Malaysia’s growing startup ecosystem. It provides a platform for early-stage companies to transition from innovative ideas to market-ready solutions, fostering entrepreneurial spirit and innovation.

Building on the success of previous cohorts in the MYStartup Pre-Accelerator Programme, the recent cohort has seen startups like Faradays Energy, which was awarded a Cradle Grant to develop and deploy a 20kWh unit for a rural electrification project, and Reyhut, which secured a five-figure investment from an early stage venture-capital. Additionally, startups such as Founder HQ and IOXTECH Global have attracted higher-quality leads through more strategic targeting and MVP development.

Sharing their enthusiasm and appreciation for the programme, Hilmi Khairuddin of IOXTECH Global said, “Participating in the MYStartup program has been an incredible journey! The mentorship, resources, and networking opportunities have truly transformed our approach to business. We went from refining our market validation to pitching confidently, and even securing clients—all thanks to the support of the MYStartup and Watchtower and Friends team. I can't recommend this program enough to any startup looking to accelerate their growth. It’s been an invaluable experience.”

Nisha Govender, founder of fellow winning startup, Nanofertech, also expressed how much she gained from the programme; “Throughout the programme, we connected with successful founders who generously shared their insights, especially the mistakes they made along the way. Learning from their experiences helped us avoid common pitfalls and gain valuable insights. It was incredibly motivating and relatable as a young startup. I highly recommend the pre-accelerator to anyone starting or running a business, as it provides powerful validation and mentorship that refines your business plan to ensure market relevance.”

Applications Now Open

Startups looking to join the MYStartup Pre-Accelerator Cohort 5 can now apply. Don’t miss this opportunity to fast-track your startup’s success. The application deadline is 10th November 2024.

For more details and to apply, visit https://www.watchtowerfriends.com/mystartup-c5. 


About Cradle

Cradle Fund Sdn. Bhd. (Cradle), a focal point agency for Malaysia’s startup ecosystem, incorporated under the Ministry of Finance Malaysia (MOF) in 2003 and administered by the Ministry of Science, Technology and Innovation (MOSTI). With over 1,000 tech startups funded, Cradle has the highest commercialisation rate among government grants. Cradle now offers two new grants, CIP Spark and CIP Sprint, targeting technology startups for idea development and commercialisation. Cradle spearheads the Malaysia Startup Ecosystem Roadmap (SUPER) 2021-2030, the MYStartup initiative, and the Angel Tax Incentive (ATIO). Cradle’s product offerings are not only restricted to monetary aid but also include commercialisation support, coaching, and various value-added services to cater to today’s entrepreneurs’ diversified needs. Cradle aligns with MOSTI’s aspiration to generate 5,000 startups by 2025, create 10,000 high-skilled coders and place Malaysia among the top 20 global startup ecosystems by 2030. 

For more information about Cradle, please visit www.cradle.com.my.

About MYStartup

MYStartup is a national initiative by the Ministry of Science, Technology and Innovation (MOSTI), powered by Cradle. Established in 2021, MYStartup is the Single Window to Malaysia's startup ecosystem, offering a one-stop platform for all things startup in Malaysia. In line with the nation's aim to be among the top 20 global startup ecosystems by 2030, MYStartup facilitates a seamless business environment by uniting founders, investors, tech talents, government agencies and ecosystem players – fostering inclusive and sustainable growth. MYStartup is also a part of the Malaysia Startup Ecosystem Roadmap (SUPER) 2021-2030 and has been nurturing the ecosystem through capacity-building programmes, including hackathons, accelerators, pre-accelerators, and bootcamps. This initiative is also in tandem with MOSTI's target of creating 5,000 startups by 2025 and 10,000 coders by 2030.

For more information on MYStartup, please visit www.mystartup.gov.my.

About WatchTower and Friends

WatchTower and Friends Sdn Bhd operates the WTF Accelerator, a programme designed to drive explosive growth by connecting startups with the right mentors, investors, and industry experts.

Many of the alumni startups of the WTF Accelerator have gone on to become top-rated Malaysian startups, such as TheLorry, MoneyMatch, MyCash Online, Omnimatics, Postco, Runningman, LaPasar, Ejen2u and Pomen. 

Our success rate is well above comparable industry levels. To date, we have completed eight accelerator batches since 2015. As a whole, our alumni startups have created around 2,000 jobs, with the total market capitalisation of our alumni companies estimated at well over RM500 million.   

For more information on WatchTower and Friends, please visit https://www.watchtowerfriends.com/  

An Initiative by: 
Ministry of Science, Technology, and Innovation (MOSTI)

Powered by:    
Cradle Fund Sdn. Bhd. (Cradle)

In partnership with:
WTF ACCELERATOR

SOURCE : Rad Reputation PR 

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Elizabeth Harding 
Tel: +60 12-220 5703
Email: lizkate@radreputation.com 

Name: Vanesa Paxton 
Tel: +60 16-342 5957
Email: vanesa@radreputation.com  

--BERNAMA