Nexea starts accelerator program application for Malaysian tech firms

Nexea, a venture capital firm and startup accelerator based in Malaysia, has opened applications for its Corporate Accelerator program, which is now in its sixth year.

Open to tech startups and scaleups in Malaysia, the five-month program offers multiple investment rounds starting from 50,000 ringgit (around US$12,030) to 250,000 ringgit (about US$60,154), reaching up to 1 million ringgit (over US$240,616). Nexea said that through the program, it has funded more than 40 startups, which had over 150 million ringgit (US$36 million) in combined revenues.

The Corporate Accelerator Program in Malaysia / Photo Credit: Nexea

Successful applicants will be coached on improving traction, strategy, and other startup fundamentals. They will also get around 2 million ringgit (around US$481,232) worth of benefits and resources from the program’s partners.

“What’s unique about this program is that the angel investors actually mentor the startups with a great growth track record,” says Nexea managing partner Ben Lim. “Corporates will be coming in as well to potentially be a customer, invest, or maybe even acquire startups.”

The Corporate Accelerator program will be purely virtual for 2021. It will be held in collaboration with co-organizers Malaysian Global and Innovation Centre, the Malaysian Business Angel Network, the Malaysia Digital Economy Corporation, and Amazon Web Services.

Applications are open until July 31 through its website.

Currency converted from Malaysian ringgit to US dollar: US$1 = 4.16 ringgit.