KUALA LUMPUR: The MYStartup Pre-Accelerator Cohort 3, in collaboration with Growth Charger, celebrated innovation and growth at its culminating Demo Day yesterday after more than 16 weeks of intensive mentorship and consultations.
The programme recognised the high-potential startups from the cohort upon their successful completion of proof-of-concept designs while building and validating ideas and business models.
A total of 26 startups spanning diverse industries of green technology, smart living, hospitality, and digitalisation were selected to participate in the programme's third cohort spearheaded by government agency Cradle Fund and MYStartup.
At the demo day, 12 finalist startups pitched their business ideas to an audience of fellow entrepreneurs, mentors, potential investors and the greater Malaysia startup community.
They included a panel of 10 judges comprising industry leaders such as Cradle, Maybank, Cyberview Sdn Bhd, Dana Impak, Tuas Capital Partners and The Hive Southeast Asia, Jewel Digital Ventures, MBI Selangor, Orbit Malaysia, Origin Ventures and SBI Ventures Malaysia.
As the event concluded, five startups were revealed as the top winners.
The five are ScancerAI, Practistica, StayWokeProperty, FinDoc and Beseek.
Norman Matthieu Vanhaecke, group chief executive of Cradle, highlighted the crucial roles startups play in the ecosystem and the agency's commitment to developing a high-performing, inclusive and sustainable startup ecosystem.
"We launched the first cohort in 2022 to accelerate early-stage startups and unlock their growth potential through structured guidance and coaching.
"More than 100 Malaysian startups have benefitted from the programme, with most startups expanding their market and adopting technology-led solutions such as advanced AI to revolutionise diagnostics, block chain and online interactive web platforms," he said in a statement.
Tuas Capital managing partner Datuk Syed Haizam Jamalullail said experiencing the innovative and disruptive pitches at the MYStartup Pre-Accelerator Demo Day gives him great confidence in the talent and innovation coming out of such programmes.
"All 12 startup founders displayed exceptional quality, blending creativity, strategic vision, and entrepreneurial spirit," he added.
In addition to bagging home RM7,500 each and gaining recognition, the top five startups will join the MYStartup Market Access Programme.
The programme allows them to network and engage with key ecosystem players and potential partners globally.
An initiative by the Ministry of Science, Technology and Innovation via Cradle, the MYStartup Pre-Accelerator aims to propel early-stage and pre-seed startups through a flexible yet comprehensive programme.
It is aligned with the Malaysia Startup Ecosystem Roadmap 2021-2030 to create 5,000 startups by 2025 and 10,000 coders by 2030.