Update Nov 2018: More information added about accelerators in Malaysia.
Update June 2018: More Accelerators have been added below!
Update Nov 2017: We are proud to announce that NEXEA Accelerator is now working in collaboration with Sunway iLabs to combine our strengths and provide Startups with the best Accelerator experience in the region. Do check out our Startup Accelerator in Malaysia.
List of Top Startup Accelerators in Malaysia
Here is the list of top accelerators in Malaysia (in no particular order). They are mostly startups accelerators in Kuala Lumpur. One of them is in Johor. Note that not all accelerators are suitable for every Startup. Choosing the right accelerator depends on what your Startup lacks. If the weakness of your startup or founding team is the access to the industry or market, then perhaps the corporate accelerators would be better. If you are looking for strong mentors that dedicate more time to helping your team, then the private accelerators with smaller batches will be better. If you would like a classroom-style or educational based accelerator, then perhaps the larger batch accelerators are suitable.
Accelerators are very important for Startups in their early phases. Typically, accelerators add value to the company via validation of ideas, validation or market, or validation of growth. Apart from that, some accelerators are also able to add value via networks, mentoring, funding, and also via shared services like Finance, SEO, Marketing, or HR.
Depending on your needs, you should pick an Accelerator that best fits your needs. This could be for purposes of networking if you depend on large B2B clients. If you need mentoring, pick the ones with strong mentors. Also, track records of Accelerators matter. Don’t just look at the number of companies. Look at the quality of companies, and how many are still alive and growing.
For other Startup Funding (Malaysia & ASEAN) choices, look below for Startup funding alternatives.
Government Startup Accelerators in Malaysia
From the team that brought you StartupQuest Selangor (SQSel), the Selangor Accelerator Programme (SAP) is an intensive 4-month programme. They include Lessons, prizes, mentoring, overseas tours, and a chance to win RM100k.
The Magic Startup Accelerator is a large-scale accelerator (50-100 per batch) set up by the Malaysian Government. They run mostly based on a classroom model. The program is 4 months. Rm1000/month allowance. RM30k in 15 weeks. Mentors are mostly other startup founders. They mostly accept startups with some form of early stage traction – especially revenue traction.
The accelerator is another government initiative, with RAVE being a subsidiary of MyNEF. They run a 3-month program providing RM20k to winners only for x% equity.
The accelerator is another government initiative, with multiple partners running the program (used to be run by Watchtower, 1337, and so on). Thus, the mentorship is provided by different people each year or when the vendors change. The website states that they provide Value Added Services Up to RM50k.
The accelerator is another government initiative, run by MDEC and ODI. Thus, the people running the Accelerator are from ODI and they do networking, training, events and tailor suit the program to Startups. The website does not state what the offer is.
Private Startup Accelerators in Malaysia
The NEXEA Accelerator Program is focussed on value creation through our 3 Value Creation Engines. We provide real mentoring through successful businessmen/entrepreneurs who have started and even sold their businesses. They bring in huge value through their decades of business experience, proven business knowledge, and regional (Southeast Asia) business network. We have a team of Startup consultants that specialise in the early lifecycle of Startups, and a dedicated Tech team (optional) to take care of the MVP or IT development.
The program has no application deadline (run throughout the year), and it is a 6-month intensive mentorship program focussed on bringing in strong traction growth. We have a notable portfolio of Startups that proves our Startup Validation methodology works. The program provides RM50k, intense mentorship, Amazon AWS Activate & Microsoft Bizspark benefits worth over RM400k for 8% Equity. We normally follow up with our investments for up to RM500k after the program ends through our Startup Fund by leading Angel Investors who invest in Southeast Asian Startups. We can also make warm introductions to our partner Venture Capital firms in the region for further funding.
The hangout is located in Johor. Key information not available from their website or other sources. Do contact them to find out.
CLLA (Cyber Lab Living Accelerator) is run by FinNext, the people behind the Fintech association in Malaysia. Resources worth RM50k (not in cash) in 5 months.
Idea Stage Startups can apply. No other key Info on their site.
The Supercharger Accelerator is from Hong Kong, focussed on Fintech and bringing Workspace, Investors, Publicity, Mentors, Workshops and Events to Startups.
Khazanah has gathered 3 accelerators called 1337 Ventures, Code Ar.my and Watch Tower and Friends to create Khazanah Neo. The program is 3 months long, providing RM20k for 2% to the selected teams only. Update: We moved this to under “Private Accelerators” from “Government Accelerators” although Khazanah Neo is under the Malaysian Government and it is not actually an accelerator in itself. However, the three privately-owned accelerators below are contracted by Khazanah Neo to run the actual programs, so we do agree it belongs here.
1337 Startup Accelerator is run by 1337 Ventures. RM10k for x% of Equity is awarded to Startups. Mentors are the 1337 Founders.
Codear.my is a local accelerator run by 2 founders. They provide RM20k for 2% in a 3-month long program.
Watchtower is a private accelerator run by the owners of PitchIn. RM50k for 8% in 4 months. Idea stage startups can apply. The mentors are founders of Watchtower. Update: They’ve started in Oct 2014 and have run their first batch since Jan 2015.
Corporate Startup Accelerators in Malaysia
Sunway iLabs is a brand new Incubator + Accelerator located at Bandar Sunway. It is a program open to everyone. They run a 24-week program with RM50k, mentorship, access to Sunway Group businesses (12 verticals), and RM150k of Google Cloud credits in exchange for 8%. The mentors are mostly from Sunway.
The accelerator is run by Tune Labs (AirAsia has common owners). The mentors are mostly Tunelabs staff. Minimum MVP Stage Startups. No other key info on their site.
HLB Launchpad Startup Accelerator is run by Hong Leong Bank. RM25k in 12 weeks. Their mentors are mostly Hong Leong staff.
Digi Startup Accelerator is run by Telenor group (mother company) – which is why the actual program is in Bangkok. Undisclosed resources (not all in cash) for 5-10% equity. Mentors are mostly Digi staff.
Accelerator Reviews in Malaysia
To remain completely transparent and neutral, we do encourage accelerator participants to review their accelerators in the comments below. Help out your fellow entrepreneurial founders find the right fitting accelerators. These startup accelerator reviews will greatly help the new and upcoming founders of Malaysia.
More Startup Funding Alternatives
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