150 Investors Attend MaGIC's Accelerator Programme To Invest In 44 Startups

KUALA LUMPUR, Dec 7 (Bernama) -- A total of 150 investors attended Malaysian Global Innovation & Creativity Centre's (MaGIC) latest round of ASEAN Accelerator Programme, looking to invest in 44 startups. In a statement here Wednesday, MaGIC said the programme had one of the largest Demo Days in South-East Asia with the participation of 44 entrepreneurs from Malaysia, Japan, US, South Korea, Philippines, India, Bangladesh, Indonesia, Vietnam and Singapore. "MaGIC Accelerator Programme (MAP) is one of the largest accelerator programmes in the region with two parallel tracks -- ASEAN Track and the Social Entrepreneurship Track. "For MAP ASEAN Track Cohort 3 alone, MaGIC received over 560 applications from 30 countries whereby the top 44 startups were shortlisted based on three key criteria: prospects to expand regionally and globally, potential of highly scalable products and readiness for early stage investments," it said. During the programme, MaGIC provided participants with benefits worth over US$400,000 (US$1 = RM4.43), opportunities to learn from world-class mentors, direct access to route-to-market partners, monthly stipend, return flights, accommodation and working space. MaGIC Chief Executive Officer, Ashran Ghazi, hoped the programme would equip participants with the relevant skills and experience to sustain and grow their businesses across South-East Asia. "Participating in an incubator is one of the best ways for a startup to get its business off the ground. "A good incubator helps to bridge any knowledge and experience gaps, as well as drive innovation, ultimately helping startups create new industries and boldly transform the way we live and work," he said. --BERNAMA