Malaysian Global Innovation & Creativity Centre (MaGIC) announced that the second cohort of its signature Global Accelerator Program (GAP) was underway.

Twenty-seven handpicked startups have been selected from a total of 961 applications to participate in the programme.

The programme will help equip each startup with the necessary skills, knowledge, and network to become investment-ready in four months, and potentially break into the Southeast Asian market shortly afterwards and this year, GAP has been expanded to cater to startups looking to find growth by entering new markets.

“GAP is an initiative which supports startup growth within Malaysia’s entrepreneurship ecosystem and this year we have expanded the programme to really focus on how we can help participants build a network within the venture capital space and better position themselves to secure seed funding or other forms of investor commitments.

“For us, we believe it is not just about adding more capital into the market but putting focus and emphasis to ensure entrepreneurs truly get access to investments,” said Ashran Datuk Ghazi, chief executive officer of MaGIC.

He said, this is currently a missing link within Malaysia’s entrepreneurship ecosystem and one we are actively working to help bridge.

“Looking beyond the direct benefits entrepreneurs take from the programme in the form of upskilling their teams, mentorship and access to route-to-market partners, GAP also helps entrepreneurs, or those looking to take their venture to the next level to connect with global entrepreneurs, share learnings and different viewpoints as well as explore expansion opportunities in Southeast Asia.

“This is helpful for Malaysia’s businesses as they work to better position themselves and create the mindset shift required to remain relevant in the fourth industrial revolution (IR4.0) and achieve success in the future,” elaborated Ashran.

Run by MaGIC, the programme provides a 4-months mentoring from technical and business experts as well as direct access to route-to-market partners such as Google, Malaysia Airlines, Maybank and Media Prima.

The programme also provides a 6-month professional visitor pass for those not based in Malaysia, access to a co-working space and accommodation for the duration of the programme, as well as benefits worth over USD500,000 from Amazon Web Services, Canva, iPay88 and others.

GAP’s syllabus is structured to help impart learnings in four main areas which are led by industry experts to help the participants to not only identify their desired target market and build the right product but to also measure the right metrics to drive the required outcomes as well as position for local expansion and regional growth and to prepare for Demo Day and investors.

Startups can also participate in the programme’s various learning opportunities, including weekly check-ins with account managers and class room modules, as well as mentoring sessions with industry leaders and subject matter experts.

The mentors include Dr. Daniel Loy, director of Centre of Learning & Innovations of Petrosains, Andre Teow, venture manager of Tan Chong Group, Arzumy MD, chief technology officer of Fave and Billplz, Desmond Ngai, senior vice president of Global Alliances of WebTVAsia and also Tomas Holub, chief executive officer of CoverGo.

The list of mentors continues with Muhamad Nasir Habizar, chief executive officer of Jomparking, Rudy Lee, chief executive officer and founder of VREX LAB, Heinrich Wendel, chief technology officer of iPrice group, Chok Kwee Bee, managing director of Teak Capital Sdn Bhd and Fui-yu Choong, chief executive officer of Kaodim.

This year, GAP has expanded its programme syllabus to include relationship-building meetings with venture capitalists from the start of the programme, more efficient route-to-market (RTM) week where startups will receive more information on RTM partners and coaching on how to pitch on individual companies.

GAP also included to its programme syllabus ASEAN Expansion Week where key community builders from around the region will share growth strategies and resources startups can leverage on in their journey to expand in ASEAN but now in its second year, GAP is a programme to accelerate startups from all over the world.

GAP is part of efforts at MaGIC to help create a mindset shift at grassroots level and create high-skilled entrepreneurial talent, help empower aspiring entrepreneurs to create new businesses and accelerate cross-border collaboration in entrepreneurship and innovation.

Its efforts to build a strong ASEAN startup community and cultivate ASEAN relationships have been well recognised with the programme ranked as one of the top ten most active accelerators in the world last year and rated the “Best Accelerator Program” by ASEAN Rice Bowl Startup Awards and Malaysia Rice Bowl Startup Awards 2017.

GAP is an evolution of the MaGIC Accelerator Program (MAP), taking the program to a global stage after three successful cohorts of Malaysian and regional startups, in total 200 startups have graduated from MAP and GAP.

“At MaGIC, we believe that a vibrant entrepreneurial hub can best arise out of an ecosystem that is collaborative.

“As such, we seek to fill the gaps by offering comprehensive and guided support through our initiatives that are always designed with the startups, and their positions, in mind.

“We are very excited to join the participants in embarking on their visions and encouraged them to take full advantage of our large pool of mentors and coaches, as well as abundant resources and wide network,” concluded Ashran.

Twitter