The Selangor Accelerator Programme has selected 5 startups to receive RM10,000 each as it concludes after heavy pithing of concepts and innovative solutions in fields of agriculture, finance and commerce.
Dato’ Teng Chang Khim, Selangor executive councillor for Industry and Trade awarded the receipts during demo day after an amazing three months of training, mentorship and learning for the 30 participants who made it into the finals. The SAP 2021 participants took the chance to pitch to renowned venture capitalists, corporations, and government agencies during the demo and vie for the awards prize to kick start their ideas.
The demo day was presided over by a panel of 7 judges who contributed 70% of the judging score for participants of the programme. The other 30% of the cores included their performance and attendance for the aspects of the programme. Investment opportunities came from strategic partners namely RHL Ventures, AgroBank and The Hive South East Asia, one of the eight foreign venture capitalists and local partner of the Penjana Nasional Fund (PNF) matching programme.
A total of 165 submissions were received for the fourth installation of the program of which 30 made into the finals. The top 10 startups of the SAP 2021 (inclusive of Top 5) are: eMLab, GFI Fintech, NexMind AI, Boss Boleh, Farmy, Xhinobi, Umorie, i-3s, Securepay and Snap. They received US$10,000 worth of AWS cloud credit, US$10,000 worth of TM One Alpha Edge Cloud Credit, 1 year’s rent-free SDCC co-working space and Logitech R400 wireless presentation remotes.
Apart from the cash prizes, participants received guidance from well-versed mentors in the community and learned from comprehensive workshops and gained the necessary industry-related exposures.
Previous cohorts of the SAP had 90 startups nurtured, with 43% of the participants receiving funding, which is considered a high success rate for startups.
