The accelerator ScaleUp Malaysia on Wednesday announced its second cohort, which comprises 20 companies serving different industries from community app to agriculture. The program attracted close to 200 applications from entrepreneurs in Belgium, Egypt, and India, to Singapore.
The selected startups for the second batch are Quadby, GenYouth, Hire.Seniors, Erth, Smartfund, EzyOffice, Fefifo, Hatio, Hauz, Homa, Kiddocare, Load2Go, MMC, MyBump Media, Pomen, qijang, Supervisor, tanalink, Recqa, and Virtual X.
The companies have been chosen based on the capability to generate revenue, market-fit demonstration of their product, scalability along with value-based pricing potential, market expansion and growth potential, as well as founders quality.
ScaleUp Malaysia provides a 3-month intensive business coaching which covers product management, finance, strategic planning, and valuation among others. It also offers an investor-readiness boot camp to prepare the companies for their fundraising.
Managing partner Andre Sequerah said that the program places emphasis on access to capital, global expansion strategies, and market access. “We have expanded the syllabus for cohort 2 to really empower all of you here throughout your transition from startup to scale-up,” he said in a statement.
Launched in October 2019, ScaleUp Malaysia focuses exclusively on growth-stage companies in Malaysia—helping them position their business for exponential growth. Earlier in September, it partnered with Singapore-based VC firm Quest Ventures, sealing a USD 1 million foreign direct investment (FDI) deal for Malaysian startups. Quest Ventures will also invest at least USD 60,250 in up to 12 companies participating in the accelerator.