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BUSINESS

MOSTI's MYStartup Accelerator Programme offers grants up to RM600,000

10/06/2022 06:15 PM

KUALA LUMPUR, June 10 (Bernama) -- The Ministry of Science, Technology and Innovation (MOSTI) has launched the MYStartup Accelerator Programme, offering grants up to RM600,000 to 10 out of the 33 startups companies involved in the programme.

Initiated by MOSTI and powered by its agency Cradle Fund Sdn Bhd, the MYStartup Accelerator Programme inspires early-stage startups while offering guidance and coaching in implementing business strategies, and access to market and funding. 

Cradle Fund acting group chief executive officer Norman Matthieu Vanhaecke said by end of this year, 10 startup companies will be chosen to receive grants or an additional RM1 million in cash from potential partners.

“The MYStartup Programme was launched in February this year and under the programme, we have various capacity-building initiatives for startup companies.

“The first being the MYStartup Pre-Accelerator Programme, which we kicked off last month, and this is our second programme,” he told Bernama at the MYStartup Accelerator Programme launch, here, today.

 The MYStartup Programme consists of several programmes, among them are the MYHackathon 2022, MYStartup Hackathon, MYStartup Pre-Accelerator, MYStartup Accelerator, MYStartup Internship and MYStartup Mentorship.

“Soon, we will launch our MYHackathon programme for this year. The initiative is aimed to improve the delivery of key public services to the rakyat,” Vanhaecke said.

He also noted that the MYStartup Accelerator Programme is part of the larger MYStartup strategy initiated by MOSTI, which aims to create global successful Malaysian startups.

This effort is also in tandem with MOSTI’s target of creating 5,000 startups and producing five “unicorn” status companies by 2025.

“The programme provides access to 18 investors, who themselves are proven startup founders, and will further guide the participants throughout their market expansion and scaling up journeys,” he said.

Startups will also be assigned to a mentor from a specially curated pool of international and local key industry players, successful start-up founders and prime investors to whom they can reach out to.

-- BERNAMA


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