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Published 19 February, 2020
After launching in October 2019, Malaysian growth-stage focussed accelerator ScaleUp Malaysia just announced 20 selected companies to start the Round 1 of the three-month programme for its first inaugural cohort.
Andre Sequerah, Managing Partner of ScaleUp Malaysia said, “It was a tough choice for the ScaleUp team to make but in the end, it was a combination of innovative business models, sizable markets, and strong founders that drove our final decision.”
These companies are:
- Huddle, a platform for everyday athletes to book sporting experiences from across Southeast Asia.
- ATX, a digital payment service provider
- Auto Craver, cloud-based management software for car dealers to automate processes
- Batik Boutique, a Malaysian gift brand with an artisanal story of creating social impact
- Camp5, Asia’s premier rock climbing gym
- Everpeaks, a duty-free global distribution hub
- Futurelab, a mentorship platform to help develop tomorrow’s executives
- Carpit, a tire servicing platform for today’s car user
- GOLOG, an on-demand cold chain logistics platform
- Iimmpact, a mobile platform that offers a different approach to mobile top-ups and bill payments
- Kwikcar, a peer-to-peer car-sharing platform
- MyAone, a platform for learning centres to acquire students, systemise end-to-end operations, and automate payment collections
- getBiiB, a community platform for runners that serves a global audience
- Truck Trader, a logistics management platform for the commercial vehicle industry
- SecondCRM, a CRM solutions provider for small and medium businesses
- Tripcarte, a distribution platform for travel activity and attraction tickets
- Wowintro, an online video interviewing software that enables employers to screen talents in minutes
- Yellow Porter, a cross border e-commerce enabler
- Sentuh, a wellness on-demand platform that connects users to certified mobile wellness therapists
- Whimsigirl, a direct to consumer fashion brand for girls
This cohort, Sequerah added, sees diversity in terms of the type of business selected, in which it features several non-digital native companies.
”We are excited to work with companies who come from very varied backgrounds – from consumer technologies to software to retail and wellness,” he said.
One of the prerequisites of participation in ScaleUp was that the companies need to have proven revenue models. These companies, while at different stages of maturity have generated a collective GMV of over RM400 million (US$96 million) in the last two years.
Tay Shan Li, Managing Partner of ScaleUp Malaysia said: ”Over the next few months, we will be working with the 20 companies on their business models and growth plans. We will focus on key aspects of building a scalable business – from technology, HR, and marketing to product development and finance.”
At the end of Round 1 in Q1 2020, ScaleUp Malaysia would have selected 10 companies to receive and investment of RM200,000 (US$48,000) and will then work with those 10 companies to fine-tune their pitch to meet strategic investors and partners.
Before making its selection, the cohort will have a combination of focussed classroom-style sessions with industry professionals that cover core competencies of running a successful scaleup. The cohort will also work with dedicated coaches who will help each company with their specific challenges.