MaGIC's GAP Cohort 04 just ended; here's what the startups have achieved

Cumulative revenue rose from RM 6.5 million to RM13 million in the 3 months


Carl Adrian

1 Dec, 2020

MaGIC's GAP Cohort 04 just ended; here's what the startups have achieved | BEAMSTART News

MaGIC's GAP Demo Day held today marks the conclusion of a rigorous three-months for startups that participated in the programme. 

The 39 startups from 6 countries: Malaysia, Singapore, Indonesia, Sri Lanka, Hong Kong, and Myanmar, have benefited tremendously from the programme and achieved significant milestones with their ventures.

MaGIC measures startups’ success rate by tracking their increase in revenue obtained or funding raised during the program, as well as their progress for 24-months after the programme.

According to the MaGIC, startups managed to raise their cumulative revenue from RM 6.5 million to RM13 million in the 3 months.

Revenue growth of startups in the programme.

The programme covered wide varieties of startup categories such as e-commerce, education, enterprise solutions, agriculture, fintech, real-estate, foodtech, AR/VR, and many more.

During the programme, one of the startups received a RM500k grant and another startup is currently raising an investment of RM1 million. 15 startups have also begun their fundraising initiatives. 

MaGIC has also been equipping the startups with good business acumen and communication skills, resulting in startups securing over RM2.8 million worth of sale contracts, where 11 more startups are forming potential partnerships with local and regional parties.

When asked, most of the startups believe that the programme and mentors have helped them in improving their business model, technical enhancements, management, scalability, valuation, financials, and more.

Testimonies from startups.

Graduates from GAP's Cohort 1 - 3 alone have generated revenues of over RM295 million and total investments raised of over RM115 million, resulting in a combined value created by MaGIC's accelerator programme to over RM409 million. 

Moving forward, MaGIC aims to continue playing the role as a regional accelerator to empower more startups within the country and region.

Already a member?

Sign in to read this article & enjoy the following:

  • Access to members-onnly content, events, and more
  • Connect with a global community of CEOs, Business Owners, and more.
  • Free Business Feature & Profile Listing
  • Post Unlimited Jobs & Hire Talent Effectively
  • Connect with Investors and Fundraise
  • Search through entire members, companies, and investors directory
  • and lots more!

Latest Jobs

Founding Backend Engineer

Remo

Full Time

USD 100000 — USD 124000 yearly

Battery Modelling Intern

Coulomb AI

Internship

USD 10000 — USD 20000 yearly

Technical Recruiter

Mintlify

Full Time

USD 100000 — USD 130000 yearly

Sales Development Representative

Two Dots

Full Time

USD 70000 — USD 80000 yearly

Part-time Software Intern

Silimate

Internship

USD 30 — USD 45 yearly

Fullstack Software Engineer III, Map

Flock Safety

Full Time

USD 125000 — USD 170000 yearly

People & Recruiting Lead

Juniper

Full Time

USD 120000 — USD 145000 yearly

Technical Project Manager

BLISSWAY

Full Time

USD 110000 — USD 180000 yearly

Operations and Analytics Manager

Centaur Labs

Full Time

USD 90000 — USD 170000 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2024 BEAMSTART. All Rights Reserved (Legal).