ScaleUp Malaysia is made up of top Malaysian Startup mentors and highly experienced entrepreneurs — acting as the external board for the companies joining the accelerator programme.
The team defined a non-typical requirement for companies to join the programme:
Established product-market fit
Earned at least RM 300,000 in revenue
Startup at the early commercialisation stage
ScaleUp will choose 20 companies to enrol for training, and narrow them down by half for a RM 200, 000 funding each, based on their:
The shortlisted companies will have the opportunity to raise funds by the sixth month of the accelerator programme.
“This RM200,000 will enable them to do a few key things. For example, hire one or two key people. A lot of companies today have enough money to keep the company going but nothing extra to hire people.” Sivapalan, founder of ScaleUp Malaysia.
According to CPA Australia’s eighth annual Asia-Pacific Small Business Survey, nearly 3,000 small business operators in Malaysia, Vietnam, Indonesia, Hong Kong, Singapore, Australia, New Zealand and China are experiencing positive business conditions, with many adding jobs and investing in technology.