Investments set to bolster innovation in Malaysia's digital economyScaleUp Malaysia has announced investments into seven innovative companies for its Cohort IV. The upfront investments for its accelerator program marks a significant milestone for ScaleUp Malaysia, as it usually announces investments at the end of the program., Managing Partner at ScaleUp Malaysia."Our selection process was highly competitive, and we are thrilled to have seven outstanding and diverse companies on board.
The focus of the accelerator program is to equip the companies with the necessary skills and knowledge to take their businesses to the next level. The program will provide the companies with best practices in pitching, financial modelling, business strategy, and product development., Managing Partner at ScaleUp Malaysia, added,"We are committed to providing our cohort companies with comprehensive support and resources to help them grow and succeed.
The companies selected for Cohort IV are BeeBag, Docspe, Huddle, Petotum, Stayhere, and Kabel who will receive a US$100,000 investment each, while the seventh company, Sonicboom, will receive an undisclosed strategic investment.12-week accelerator program aimed at refining their business models, developing regional scalability, and will culminate in a demo day with investors from all over the world.
ScaleUp Malaysia received over 200 applications for Cohort IV, with a success rate of less than 4%. The firm received applications from countries all over the region including Hong Kong, Philippines, Vietnam, Singapore and Indonesia. Startups expressing interest came as far as from the United Kingdom and United States. Selected companies comprise of ventures in IOT, HealthTech, SportsTech, Pet Care, Travel Tech, HR Tech and Fintech..