MaGIC joins forces with NEXEA for the Corporate Accelerator Program 2021

KUALA LUMPUR 3 July - The Corporate Accelerator Program by NEXEA is an accelerator program that equips a combination of extensive mentorship and pertinent workshops. The program runs as a 5-month accelerator from September 2021 to January 2022.

Held in partnership with Malaysian Global Innovation & Creativity Centre (MaGIC), NEXEA, MBAN, MDEC, Amazon Web Services (AWS) and Cyberview, supported by Cradle, the program is intended to discover the next tech unicorns.

It is designed by mentors who are experts in the field and have gained success themselves. The mentors provide startups with a network of CEO-level connections across Malaysia, huge knowledge and experience base along with intense dedicated mentoring sessions.

There are also a number of corporates joining the accelerator this  year to engage with participating startups, including Spritzer and Allianz General Insurance Company (Malaysia) Berhad. Said corporations are open to working with the startups on pilot projects, validation of business ideas and potential acquisitions.

As a co-organiser of the Corporate Accelerator Program, MaGIC will provide the top 5 Corporate Accelerator 2021 participants with green lane access to the Global Accelerator Programme (GAP) 2022 and to include them as MaGIC alumni.

GAP aims to accelerate local and international startups from around the globe, with an interest to expand their business in the ASEAN region and to be investment-ready in 3 months. GAP also aims to build a strong ASEAN startup community by cultivating ASEAN relationships. MaGIC will also be channelling its startups to the Corporate Accelerator program.

With regards to having the pleasure of MaGIC as a co-organiser for the Corporate Accelerator Program, Ben Lim, Managing Partner of NEXEA says, “We are thrilled to have MaGIC onboard as a co-organiser in the Corporate Accelerator program as they bring lots of value and support to startups and scaleups”.

 Acting Chief Executive Officer of MaGIC, Amiruddin Abdul Shukor said, this collaboration amongst ecosystem partners strengthens MaGIC’s various startup capacity building programmes such as GAP.

"By value-adding to the startups’ growth development cycle, we are effectively enhancing the value and impact for startups to deliver its benefits back into the ecosystem.

"Together, MaGIC with our corporate partners can support startups who will be at the forefront of the digital transformation while positioning them for exponential growth. More startups will now be able to have access to the best strategic and technical support in the nation,” he said.

All participating startups will benefit from RM2mil worth of benefits and resources. Applications for the Corporate Accelerator Program are currently open. After the accelerator, participating startups will receive continued support and mentoring from NEXEA and their partners.

Startups also continue to get fundraising opportunities of up to RM1mil from NEXEA and their angel investors. Introductions to local and regional corporates, venture capitals, family offices, and angel investors are also among the benefits gained at post-accelerator. Upon graduating from the Corporate Accelerator Program, startups get to engage and network with NEXEA alumni to support each other.

MaGIC is also working with NEXEA on the Entrepreneurs Program. The startup founders network group has been a very successful collaboration with MaGIC actively supporting and sponsoring a total of 15 entrepreneurs. Startups participating in the Corporate Accelerator program are able to enjoy 6 months of the Entrepreneurs Program.

Managing Partner of NEXEA, Ben Lim said, MaGIC is also supporting high growth startups via the Entrepreneurs Program to learn and grow faster and this is proof of the startups ecosystem working together in unison to produce Malaysia’s next unicorns.

Applications for the Corporate Accelerator Program are now open until 31 July 2021, and all Malaysian-based technology startups are welcome to apply.

To apply or find out more about the Accelerator, visit the Corporate Accelerator website. - DagangNews.com