Cradle Launches MYStartup Accelerator Program Offering Local Firms Funding And Mentorship

The Ministry of Science, Technology and Innovation (MOSTI) through Cradle Fund Sdn. Bhd. has launched the MYStartup Accelerator programme offering selected startups an array of world-class mentors and potential funding opportunities at their disposal.

From June 2022 to December 2022, the first cohort of startups from the MYStartup Accelerator programme stand to benefit from an expansive list of mentors and experts in fields, such as business scaling and market access. Participating startups will also gain access to other partner benefits and resources worth up to RM2 million, on top of the chance to partner with any of the 80 corporate bodies from the programme’s exclusive database.

Norman Matthieu Vanhaecke, Acting Group Chief Executive Officer, Cradle shared, “We are excited to see Malaysian technology startups reap the benefits of this programme and experience the explosive growth that awaits them.

Cradle picked 33 startups who met the set criteria from more than 500 applications received to the programme. These successful candidates will then receive world-class assistance and guidance through workshops by seasoned experts providing startups with an opportunity to scale their business exponentially on a regional scale while opening up funding opportunities.

Executed by Cradle, the MYStartup Accelerator programme is part of the larger MYStartup strategy initiated by MOSTI where the Ministry aims to create global successful Malaysian startups. The programme provides access to 18 angel investors – who themselves are proven startup founders, and will further guide the participants throughout their market expansion and scaling-up journey.

Potential funding opportunities may come from either Cradle’s CIP Sprint grant programme, which provides funding up to RM600,000; or follow-on funding from potential partners valued up to RM1,000,000. Other post-programme benefits include opportunities to participate in local and overseas immersion programmes and access to various tools and resources.

While SUPER is aligned with other initiatives such as the National Policy on Science, Technology and Innovation (DSTIN), National Entrepreneurship Policy 2030 and National Fourth Industrial Revolution (4IR) policy, the MYStartup Programme aims to further unify various players and enrich the startup network in encouraging high-impact collaborations at the ecosystem level.

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