Malaysian Global Innovation & Creativity Centre (MaGIC) has officially launched the third Cohort of the Global Accelerator Programme (GAP), with 30 participating startups from 9 countries including Malaysia, Russia, Myanmar, India, Kenya, Estonia and more.
The accelerator which opened applications from 10 April 2019 until 17 May 2019 drew over 1,170 applications from 68 countries across the globe.
Applicants were put through a stringent judging process with the final 30 shortlisted based on 3 key criteria:
The prospect to expand regionally and globally
The potential of highly scalable products with large growth potential and
A demonstrable market-ready product with traction.
The four-month long programme will be running out of the MaGIC Campus in Cyberjaya, and will focus on equipping the startups with their expansion across SouthEast Asia.
The launch was officiated by Datuk Seri Mohd Redzuan Yusof, Minister of Entrepreneur Development (MED), together with the Secretary General of MED, Datuk Wan Suraya binti Wan Mohd Radzi and Dzuleira Abu Bakar, Chief Executive Office of MaGIC.
“MED has been entrusted to lead the way to create a holistic, conducive entrepreneurial ecosystem that is inclusive in supporting the country's socio-economic development agenda while increasing the number of qualified, viable, resilient and global-minded entrepreneurs. A programme like GAP which provides exposure not only our local startups but startups from other countries too with the opportunity to work together, share learnings and different viewpoints as well as explore expansion opportunities in Southeast Asia is aligned with our efforts at MED in transforming Malaysia to be an entrepreneurial nation by 2030. I hope to see GAP Cohort 3 bring greater economic impact through revenue generation and the raising of investment.”
The launch also featured a keynote presentation by Bryan Loo, founder of Tealive as well as a panel discussion comprising MaGIC Alumni — Nadhra Fauzi of Tresgo, Wee Siong Quek of MHub, and Nasir Habizar of JomParking. The session was moderated by Dr. Mimi Aminah Wan Nordin, Programme Consultant at MaGIC.
The 30 startups have begun their journey on the 5th of August, and will present their refined ideas to a room of investors in November 2019 during Demo Day.