The Corporate Accelerator Program by NEXEA is now open to all Malaysian-based technology startups and scaleups to participate. As a leading accelerator for startups and scaleups in Malaysia, this year’s program is held in collaboration with co-organisers: NEXEA, Malaysian Global and Innovation Centre (MaGIC), MBAN, MDEC and Amazon Web Services (AWS), supported by Cradle. Corporates partners this year include Allianz General Insurance Company (Malaysia) Berhad and Spritzer, with more to be confirmed.
The accelerator aims to help early startups and scaleups to achieve exponential growth by engaging with world-class investors, corporates and support partners in Malaysia. Ahead of its sixth edition this year, NEXEA has revamped the Corporate Accelerator Program by allowing for more partners and co-organisers resulting in a more unified startup ecosystem solely for the benefit of startups.
Participating startups will get the opportunity to work with corporates via pilot projects, validation of the business model, real-world product testing and securing traction by having said corporates as potential customers. The startups will also benefit from the Corporate Accelerator’s multiple investment rounds, starting between RM50,000 to RM250,000 and up to RM1 mil in each subsequent round. Since its inaugural program in 2016, NEXEA has funded over 40 startups with a total of over RM150 mil in collective revenues.
“What’s unique about this program is that the Angel Investors actually mentor the startups with a great growth track record,” said Ben Lim, managing partner of NEXEA.
“Corporates will be coming in as well to potentially be a customer, invest or maybe even acquire startups. The program brings together years of experience from ex-entrepreneurs who have expanded, acquired, and even listed their companies – all to share with upcoming entrepreneurs” he adds.
Running for five months, the Corporate Accelerator Program is designed so that all participating startups will be able to improve traction, strategy and the other fundamentals of a startup with the guidance of mentors and experts. Startups will also benefit with the inclusion of six months of the Entrepreneurs Programme, a programme for startups to learn and grow with their peers and mentors.
Lapasar, a startup that graduated from The Corporate Accelerator Program in 2017, then known as the Multi Corporate Accelerator Program, is one of NEXEA’s many success stories. A B2B wholesale tech company, they have grown 100x over four years and in their latest round of funding, raised a total of RM7.8 mil.
“NEXEA has been on our journey since day one, funding us the first RM50,000 alongside Watchtower when we were merely an idea to provide us clients and follow-on funding. The mentors are people who have gone through the grind so when times are tough, speaking to them calms our nerves and allows us to focus on objective-driven solutions.” says Thinesh Kumar, Founder and CEO of Lapasar.
With regards to the prospects of the Corporate Accelerator Program, Lim mentions that “NEXEA aims to grow the next tech unicorns of Malaysia via this program, with the best mentors, corporates and co-organising partners.”
Applications are open until July 31, 2021, and all Malaysian-based technology startups interested in improving their business are encouraged to apply.