7th cohort of Selangor Accelerator Programme open for applications

• Applications open till 9th August 2024
• Initiative aims to accelerate the growth of Malaysian tech startups

The Selangor Information Technology and Digital Economy Corporation (Sidec) has announced the launch of the 7th Cohort of the Selangor Accelerator Programme (SAP24). This initiative aims to drive Malaysia tech startups towards accelerated growth, providing comprehensive support, international outreach, and expansion opportunities, positioning them for global market success.

SAP24 runs from August to November 2024 and is focused on sectors such as Artificial Intelligence (AI), Biotech, Net-Zero Solutions, Mobility, and Life Sciences but is also open to other verticals. The programme includes a variety of workshops, industry visits, government connections, and expert-led fundraising guidance. Applications are now open until 9 August 2024.

According to Sidec, participants will compete for prizes which includes mentorship, brand exposure, and business training worth up to US$53,700 (RM250,000) in total. Finalists will need to impress a panel of judges who will select the top 20 startups for the final pitching round in October 2024.

"Our goal with SAP24 is to create an environment where startups can thrive and achieve their full potential," said Yong Kai Ping, CEO of Sidec. "We are committed to providing the necessary resources, mentorship, and opportunities to help these innovative companies succeed on a global scale. With the support of our partners, we are excited to see the transformative impact this cohort will have on the startup ecosystem."

The programme also includes industry visits, allowing startups to observe established companies, learn from industry experts, identify partnership opportunities, and stay updated on market trends. Additional perks include access to top-tier cloud services, exclusive membership in the CXO Club for networking opportunities, and the chance to showcase innovations at the prestigious 9th Selangor Smart City and Digital Economy Convention 2024, held from 16th - 19th October at Kuala Lumpur Convention Centre. Participants will also have prime spots in the Selangor Sandbox, promoting innovation and collaboration, and the opportunity to promote their services to a wide network through Sidec’s database.

According to Sidec, SAP has nurtured 190 startup companies since its inception, with 41% securing financing from 2018 to 2023. Notable alumni have expanded globally, including Nexmind AI, Seed Dream, Borong (commonly known as Dropee), GFI Fintech, Pomen, GoTech, GA Alliance, Entomal, Homa2U, and QMed Asia. Moreover, past participants have achieved a significant global footprint, extending their reach to regions including USA Silicon Valley & Washington D.C., Japan, China, Taiwan, Dubai, Thailand, Vietnam, Indonesia, and beyond.

This programme is supported by main sponsor Affin and strategic payment partner Fiuu. The support and contributions from co-organisers Invest Selangor and a group of supporting partners ensure that startups receive the best possible resources, mentorship, and opportunities to scale their innovations globally.