KUALA LUMPUR – The Corporate Accelerator Program by NEXEA, a leading accelerator program in Malaysia, is now open to participations of all Malaysian-based technology startups & scaleups until July 31. This year, the program is held in collaboration with co-organisers that include NEXEA, Malaysian Global and Innovation Centre (MaGIC), MBAN, MDEC and Amazon Web Services (AWS), supported by Cradle. The corporates this year include Allianz General Insurance Company (Malaysia) Berhad and Spritzer, and more.
This program seeks to guide early startups and scaleups to achieve exponential growth by engaging with world-class investors, corporates and support partners in Malaysia. After six years of running the accelerator, NEXEA has revamped the Corporate Accelerator Program and allowed more partners and co-organisers resulting in a more uniﬁed startup ecosystem solely for the beneﬁt of startups.
Participants will have the opportunity to work with corporates via pilot projects, business model validation, real-world product testing and securing traction by having said corporates as potential customers.
There is also the Corporate Accelerator’s multiple investment rounds that starts from RM50,000 to RM250,000 and up to RM1 million each round afterwards that the startups will be able to benefit from. Since the launching of the program in 2016, NEXEA has funded more than 40 startups and has over RM150 million in combined revenues.
“What’s unique about this program is that the Angel Investors actually mentor the startups with a great growth track record. Corporates will be coming in as well to potentially be a customer, invest or maybe even acquire startups,” says Ben Lim, Managing Partner of NEXEA.
He also added that this program brings together years of experience from ex-entrepreneurs who have expanded, acquired, and even listed their companies to share with upcoming entrepreneurs.
The Corporate Accelerator Program is a ﬁve-month program designed to improve traction, strategy and the other fundamentals of a startup with the guidance of mentors and experts. Startups will also beneﬁt with six months of Entrepreneurs Programme included, a programme for startups to learn and grow with their peers and mentors.
“NEXEA has been on our journey since day one, funding us the ﬁrst RM50,000 alongside Watchtower when we were merely an idea to provide us clients and follow-on funding. The mentors are people who have gone through the grind so when times are tough, speaking to them calms our nerves and allows us to focus on objective-driven solutions,” says Thinesh Kumar, Founder and CEO of Lapasar, a startup that graduated from The Corporate Accelerator Program in 2017.
With regards to the prospects of the Corporate Accelerator Program, Ben Lim mentions that “NEXEA aims to grow the next tech unicorns of Malaysia via this program, with the best mentors, corporates and co-organising partners.”