ScaleUp Malaysia to pour $1m into 10 startups in 2022 cohort

Startup accelerator ScaleUp Malaysia is looking to invest US$100,000 into each of the 10 startups in its 2022 cohort.

ScaleUp Malaysia Team / Photo credit: ScaleUp Malaysia

Startups in Malaysia, Southeast Asia, and globally that are already generating revenue can apply for the program. Firms must be able to show a “strong” product value proposition, a sizable market, and a “compelling” go-to-market plan, ScaleUp Malaysia said.

The program, which starts in the fourth quarter of this year, will include a one-month investor readiness bootcamp, along with access to venture capital networks. The program will also offer two-year support from an external management team.

Within five weeks of submission, applicants will know if they are accepted into the program.

“We recognize that this is a very precarious time for founders with so much uncertainty with the economic situation in the region and around the world,” said ScaleUp Malaysia managing partner Andre Sequerah. “This is why we have streamlined our process to make sure that exceptional startups get funded quickly so they hit the ground running and scale effectively.”

In the company’s previous cohort, which saw startups apply from 26 countries, the 11 participants received US$60,000 in funding.

See also: Malaysian proptech firm Speedhome to cut workforce