To support the Malaysian startup ecosystem in their pursuit of success, Microsoft will be supporting the various accelerator programs launched by the Malaysian Global Innovation & Creativity Centre (MaGIC), Selangor Information Technology & Digital Economy…
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The Corporate Accelerator Program by NEXEA is a leading accelerator program for startups & scaleups in Malaysia, is now open to all Malaysian-based technology startups & scaleups to participate. This year, the Corporate Accelerator Program is held in collaboration with co-organisers: NEXEA, Malaysian Global and Innovation Centre (MaGIC), MBAN, MDEC and Amazon Web Services (AWS), supported by Cradle. The corporates this year include Allianz General Insurance Company (Malaysia) Berhad and Spritzer, and there are more to come.
The Corporate Accelerator seeks to guide early startups and scaleups to achieve exponential growth by engaging with world-class investors, corporates and support partners in Malaysia. In its sixth year running the accelerator, this year, NEXEA has revamped the Corporate Accelerator Program by allowing for more partners and co-organisers resulting in a more unified startup ecosystem solely for the benefit of startups.
Participating startups will get the opportunity to work with corporates via pilot projects, validation of the business model, real-world product testing and securing traction by having said corporates as potential customers. The startups will also benefit from the Corporate Accelerator’s multiple investment rounds, starting between RM50,000 to RM250,000 and up to RM1mil each round afterwards. Since the program was launched in 2016, NEXEA has funded more than 40 startups and has over RM150mil in combined revenues.
“What’s unique about this program is that the Angel Investors actually mentor the startups with a great growth track record. Corporates will be coming in as well to potentially be a customer, invest or maybe even acquire startups,” says Ben Lim, Managing Partner of NEXEA. “The program brings together years of experience from ex-entrepreneurs who have expanded, acquired, and even listed their companies – all to share with upcoming entrepreneurs” he adds.
A five-month program, the Corporate Accelerator Program is designed such that all participating startups will be able to improve traction, strategy and the other fundamentals of a startup with the guidance of mentors and experts. Startups will also benefit with six months of Entrepreneurs Programme included, a programme for startups to learn and grow with their peers and mentors.
Lapasar, a startup that graduated from The Corporate Accelerator Program in 2017 back then known as the Multi Corporate Accelerator Program is one of NEXEA’s many success stories. A B2B wholesale tech company, they have grown 100x over four years and in their latest round of funding, have managed to raise a total of RM7.8mil.
“NEXEA has been on our journey since day one, funding us the first RM50,000 alongside Watchtower when we were merely an idea to provide us clients and follow-on funding. The mentors are people who have gone through the grind so when times are tough, speaking to them calms our nerves and allows us to focus on objective-driven solutions.” says Thinesh Kumar, Founder and CEO of Lapasar.
With regards to the prospects of the Corporate Accelerator Program, Ben Lim mentions that “NEXEA aims to grow the next tech unicorns of Malaysia via this program, with the best mentors, corporates and co-organising partners.”
The Corporate Accelerator 2021 applications are open until 31 July 2021. All Malaysian-based technology startups that are interested in improving their business are encouraged to apply. To apply or find out more about the Accelerator, visit the Corporate Accelerator website.
