The virtual launch of Cohort 2 of the ScaleUp accelerator
ScaleUp Malaysia, an accelerator programme powered by Singapore-based VC firm Quest Ventures, has announced the launch of the second cohort.
The programme is part of an investment deal by Quest worth US$1 million. As per the agreement, the VC firm will invest US$60,000 in up to 12 companies.
Also Read: Quest Ventures, ScaleUp Malaysia team up to invest up to US$1M in Malaysian startups
ScaleUp said it attracted more than 200 entries from countries such as Belgium and Egypt. The finalists were selected based on criteria, including product-market fit, revenue generation models and scalability of their products.
The accelerator aims to assist startups with their growth and product-market fit to scale them into businesses with high revenue growth and profitability.
The finalists will embark on a 3-month intensive group-based training programme focused on areas, including product management and finance.
Additionally, they will participate in a month-long boot camp to aid them in fund-raising. Upon completion of the programme, the 20 startups will pitch their solutions to an investment committee.
The 20 companies selected for Cohort 2 are:
Quadby: A social app specialised for millennial students to find and chat on campus.
GenYouth: A platform that develops the workplace competencies of youths.
Hire.Seniors: A platform that helps retirees and senior citizens find employment opportunities in Malaysia.
ERTH: A social enterprise focusing on e-waste recycling service.
Smartfund: A B2B invoice financing platform for SMEs.
EzyOffice: A one-stop office system and renovation solutions platform.
Fefifo: A co-farming company that focuses on empowering progressive farmers in ASEAN.
Hatio: A technology provider specialising in supply chain & logistics.
Hauz: A data-driven enterprise solution that manages and monitors remote workforce operations in the service industry,
Homa: An O2O marketplace for construction and renovation materials marketplace in Malaysia.
Kiddocare: A babysitting mobile platform for access to trained babysitters.
Load2Go: A logistics platform which focuses on delivery solutions for heavy industry materials.
MMC: A company that provides online and offline solutions from hardware to software to F&B businesses.
MyBump Media: A car-wrap advertising platform.
Pomen: A SaaS automotive maintenance platform that specialises in fleet companies and vehicle owners.
Qijang: A simplified omnichannel e-commerce backend system.
Supervisor: A platform that helps corporates and homeowners manage and supervise their renovation works.
Tanalink: An agro-tech company utilising data to reduce crop wastage.
Recqa: A centralised, searchable knowledge-based repository for team members to share their learnings.
Virtual X: A company that specialises in creating business solutions using augmented and virtual reality technology
ScaleUp Malaysia has also opened registration for startups to state their interest to participate in Cohort 3. Register your interest for Cohort 3 here.
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Image Credit: ScaleUp Malaysia
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