PETALING JAYA: ScaleUp Malaysia has disclosed its fourth cohort and investments in seven innovative companies. This cohort marks a significant milestone for ScaleUp Malaysia, with upfront investments for its accelerator programme as opposed to at the end of the programme as with previous cohorts.
“We are delighted to welcome Cohort IV to our accelerator programme,“ ScaleUp Malaysia managing partner Andre Sequerah said, adding that their selection process was highly competitive, and they are thrilled to have seven outstanding and diverse companies on board.
“These companies have been selected based on their potential to drive regional scalability and positive impact to society and the economy. We are also happy to add two female founded companies to our portfolio which brings us to a total of 14 companies with female founders,” he said.
The focus of the accelerator programme is to equip the companies with the necessary skills and knowledge to take their businesses to the next level. The programme will provide the companies with best practices in pitching, financial modelling, business strategy, and product development.
ScaleUp Malaysia managing partner Tay Shan Li said, “We are committed to providing our cohort companies with comprehensive support and resources to help them grow and succeed. Our team of experienced mentors and advisers will guide them through the programme to refine their business models and strategies to attract further funding and drive regional growth. Over the past three cohorts we have designed best practices to work with our investee companies and have seen immense success in helping them regionalise and raise their next rounds.“
The companies selected for Cohort IV of ScaleUp Malaysia are BeeBag, Docspe, Huddle, Petotum, Stayhere, and Kabel which will receive a US$100,000 (RM443,000) investment each, while the seventh company Sonicboom, will receive an undisclosed strategic investment.
These companies will undergo a rigorous 12-week accelerator programme aimed at refining their business models, developing regional scalability, and will culminate in a demo day with investors from all over the world.
ScaleUp Malaysia received over 200 applications for Cohort IV, with a success rate of less than 4%. The firm received applications from countries all over the region including Hong Kong, the Philippines, Vietnam, Singapore and Indonesia. Countries expressing interest included the UK and the US.
Selected companies comprise ventures in Internet of Things, health technology, sports technology, pet care, travel technology, human resources technology and financial technology.
The focus of the accelerator programme is to equip the companies with the skills and knowledge to take their businesses to the next level.
