Selangor Accelerator Programme returns for its third year

The Selangor Accelerator Programme (SAP) has announced that it is open for registration. The programme organised by the Selangor Information Technology and E-commerce Council (SITEC), is returning for the third year and is expected to recruiting 30 potential local startups.

In the past two years, SAP has recruited two cohorts of startups made up of around 60 teams. One-third of these startups have successfully been funded.

The 30 local high-potential startups will be provided with an intensive four-month training programme. Qualifiers must than have a minimum viable product (MVP).

“After going through the programme from idea validation to the growth stage, they will become an investor-ready company. The official registration date begins from May 1 to May 31, “ SITEC said in a press statement.

According to SITEC, the targeted startups will have to base on emerging technologies applicable across industries and verticals such as AI, Blockchain, Cloud computing, Big Data, Machine Learning and Smart City among others.

The programme will also be offering entirely-sponsored local and overseas trips, valuable networking opportunities, peer support communities as well as 1-to-1 monitoring sessions.

A total of 55 Minimum Viable Products (MVP), and RM 26 million Gross Market Value (GMV) has been created throughout two years of the programme. 20 out of 60 startups from the past cohort has secured seed funds and angel investment ranging from RM300,000 to RM 1.4 million.

Additionally, the top five placed startups will automatically qualify to pitch at the 5th Selangor Smart City & Digital Economy Convention 2020 and to win from the cash prize.

 

 

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