Seven innovative companies have been selected for Cohort IV of ScaleUp Malaysia’s accelerator program, with upfront investments provided for the first time.
The selection process was highly competitive, with over 200 applications received from countries across the region and beyond.
The seven companies selected were chosen based on their potential to drive regional scalability and positive impact to society and the economy.
The focus of the 12-week accelerator program is to equip the companies with the necessary skills and knowledge to take their businesses to the next level, providing best practices in pitching, financial modelling, business strategy, and product development.
“We are committed to providing our cohort companies with comprehensive support and resources to help them grow and succeed. Our team of experienced mentors and advisors will guide them through the program to refine their business models and strategies to attract further funding and drive regional growth,” said Tay Shan Li, managing partner at ScaleUp Malaysia.
The companies selected for Cohort IV of ScaleUp Malaysia are smart retail startup Beebag, healthtech firm Docspe, AI tech Huddle, pet ecosystem integrator Petotum, vacation rental firm StayHere, and job matching platform Kabel. They will receive $100,000 investment each.
The seventh company, fintech firm Sonicboom, will receive an undisclosed strategic investment.
The program will culminate in a demo day with investors from all over the world. ScaleUp Malaysia is committed to providing comprehensive support and resources to help the cohort companies grow and succeed, with a team of experienced mentors and advisors guiding them through the program to refine their business models and strategies to attract further funding and drive regional growth.
The firm is also pleased to have added two female-founded companies to its portfolio, bringing the total number of female-founded companies to 14.