Calling on local tech startups to tackle the challenging market
In its fifth consecutive year, Malaysia-based startup investment firm NEXEA Angels Sdn Bhd (NEXEA) is back with its Multi-Corporate Accelerator 2020 – a startup program that aims to bring local technology startups and corporations for the purpose of identifying and exploring potential partnerships, pilot programs and acquisitions.
The program is held in partnership with several organisations such as UEM Sunrise Berhad (a leading property developer in Malaysia), Spritzer (the most integrated and largest bottled water producer in Malaysia), Delloyd Group (Automotive, Plantation, Vehicle Distribution), shopper360 (the region’s shopper markering expert) and Allianz General Insurance Company (Malaysia) Berhad (one of the leading general insurers in Malaysia and a subsidiary of Allianz Malaysia Berhad).
Through the program, startups will get an opportunity to explore pilot projects with these organisations, validate business with feedback from them, explore real-world product testing and build up traction by having these organisations as potential customers.
“Our program is designed for startups who are looking for funding, mentors and support from corporations. The idea is about bridging the gap between startups and industry players – many startups desire a working relationship with corporate entities and our role is to help startups attain it,” explained Ben Lim, Managing Partner of NEXEA.
In addition, startups gain mentor support from NEXEA and the opportunity to get funded by NEXEA and its co-investment partners.
Commenting further on NEXEA Multi-Corporate Accelerator 2020 and the larger industry objective, Lim said, “At NEXEA, we are dedicated to growing the Corporate Innovation industry in Malaysia which is also an advantage for the overall startup industry. Our role is to help corporations have greater accessibility to their Corporate Innovation initiatives by leveraging our experience in dealing with startups, the startup ecosystem as well as best practices in Corporate Innovation,” explained Lim.
Calling On All Malaysia-based Tech Startups
- Applications are now open and will be closed on 8 March 2020. To apply, go to http://www.nexea.co/startup-accelerator-malaysia/
- The programe is open to all Malaysia-based tech startups from ideation stage to pre-series A
- Each startup will be funded with RM50,000 and up to RM1 million follow-up funding via Angel Investors (if eligible), as well as RM1.5 million of benefits for each selected startup
- Startups will work with world-class mentors, investors and corporates
- To-date, NEXEA has invested in a total of 35 companies in the last five years.