Frequently Asked Questions

GENERAL

What Is The MYStartup Accelerator Programme? 

It is a 6-months accelerator under the initiative of the Ministry of Science, Technology and Innovation (MOSTI). It focuses on supporting and bringing more value to startups by giving them world-class assistance and guidance with exclusive mentors, valuable workshops with seasoned experts and scaling their businesses via regional market expansion and investment opportunities. 

Are You Eligible? 

You are eligible if you satisfy the 4 criteria below:
 
(1) You are a Malaysia Incorporated Company

(2) You are a technology startup with a scalable nature. Your business model should be scalable and able to grow exponentially in the long term. 

(3) Your startup is either in a stage of MVP or revenue-generating

(4) Your startup is looking to expand regionally and globally

How Long Does MYStartup Acclerator Run For? 

MYStartup Accelerator commerces from June 2022 to November 2022

Beyond Demo Day in November 2022, some of the startups will potentially be selected to participate in the MYStartup Accelerator Immersion Programme where they get first-hand exposure to the regional startup scene, and a deeper understanding of how business is conducted in the local market

Is There Any Entry Fee To Apply for the MYStartup Accelerator?

No, there are no joining or participation fees for startups to join this programme.

What Commitment Should I Know If I Were Selected To Join The Programme? 

Unless stated by the Organisers, Startups are expected to be physically present on Orientation Day and Demo Day, participate in all of the mentoring, masterclasses and checkpoint sessions as well as, to submit related documents and information throughout the programme.

Why Should Startups Join The MYStartup Accelerator?

(1) Benefit from world-class assistance and guidance with exclusive mentors, valuable workshops with seasoned experts
(2) Potential to receive Cradle’s Grant Opportunities up to RM 600,000 per startup
(3) Potential opportunities to receive RM 50,000 to RM 250,000 investment with NEXEA throughout the programme period
(4) Potential opportunities to receive follow on funding up to RM 1,000,000 investment with NEXEA beyond demo day
(5) Potential to partner with NEXEA's database of 80+ corporates
(6) Potential regional market expansion via Immersion Programme Opportunities
(7) Entitled to Organisers’ Partners’ Benefit and Resources with the amount up to RM 2,000,000

Is There Any Specific Industry/Field That MYStartup Accelerator Are Looking For?

We are actively and solely looking for startups in the technology sector. Unfortunately, if your line of business does not overlap with the technology sector, we are unable to move forward with your application.

How Does MYStartup Accelerator Choose Which Companies For Investment Opportunities?

We have a rigorous process to find strong Startups - which we do by working with and mentoring Startups. In doing so, we are able to figure out what makes your Startups work, what your dynamics are, and how we can support you further.

Startups who have strong startup fundamentals are highly considered. This includes factors like the team, market, business model, and more.

How Can We Get Funded After The Corporate Accelerator Programme Ends? 

Graduated startups will be given opportunities for follow-on funding at the end of the programme through Demo Day. Funding is at the discretion of the interest of the Investors. For startups that did not make it through the Corporate Accelerator, you may always apply for funding through our Startup Find. 

Are There Any Specific Industry/Field That You Are Looking For? 

 We are actively and solely looking for startups in the technology sector. Unfortunately, if your line of business does not overlap with the technology sector, we are unable to move forward with your application.

Why Do Corporates Join The Corporates Accelerator Programme? 

The programme helps Corporates in building internal innovation and investment capabilities, digitizing internal processes, finding new revenue streams, and working with industry disruptors. 

It is done via the Startup Matching Methodology, Workshops, Panel Discussions, Fireside Chats, Mentoring Sessions, Pilot Projects, Technical Guidance, and more

Throughout the Corporate Accelerator Programme, we run events where corporates can interact with Startups, Investors, Venture Capitalists, Funds, other Corporate Venture Capital, and other Startup Ecosystem Partners. 

How Do You Choose Which Companies To Accept And Process To The Next Stage And To Fund? 

We have a rigorous process to find strong Startups - which we do by working with and mentoring Startups. In doing so, we are able to figure out what makes your Startups work, what your dynamics are, and how we can support you further. 

Startups that have strong startup fundamentals are highly considered. This includes factors like the team, market, business model and more.

What Can Startups Expect Once The Corporate Accelerator Programme Ends? 

Startups who successfully receive investment during Phase 2 of the programme:

You can generally expect a follow-up funding of around RM 50,000 - RM 250,000

You have a higher chance of getting commercial partnerships with Corporates at their discretion after the programme ends. 

You will continue to receive mentorship, benefits and expert access

Application

My Startup is Not Based in Malaysia. Can I Participate Remotely?

Unfortunately, we are currently only looking for startups that are based in Malaysia as to ensure more direct contact with our mentors.

Can I Apply if I Am The Sole Founder Of My Startup?

Yes, solo founders are more than welcome to apply.

Can I Apply For the Programme if My Startup Has Already Raised Some Funding From Other Sources?

Yes, you may apply. However, we advise startups to check with their investors/shareholders prior to joining the MYStartup Accelerator to ensure that all parties’ interests are being looked after.

Am I Eligible to Apply if I Am Currently A Part of Other Accelerator Programmes?

Yes, Startups participating in another programme do not affect their eligibility. Although we do not recommend startups participating in two programmes at the same time, startups are more than welcome to apply to MYStartup Accelerator. 

When Does The Application Start and What Is The Application Process Like?

Application begins on 11 April 2022 and closes on 09 May 2022, 11:59pm. 

Screening process starts from Mid April to Mid May.

Shortlisted applicants will be invited for interviews which normally include a 5 minutes pitch and a 10-15 minutes Q&A session.

When Will We Be Notified if My Company is Shortlisted to Move Forward to the Next Stage?

Due to the high volume of applications, we regret to say that only shortlisted startups will be notified by Mid-May.

I Am Concerned About The Intellectual Property of My Idea. Should I Be Worried?

It is natural to have doubts over the issue of intellectual property, however, we do not engage ourselves in such a manner. NEXEA is a reputable Startup investment company and has been operating and supporting Startups since 2015.

I Still Have Questions Regarding MYStartup Accelerator. Who Can I Contact?

Kindly contact us via email: [email protected]

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