Cyberjaya, March 3 – MaGIC, the Malaysian Global Innovation & Creativity Centre, has launched a new accelerator programme called the Global Accelerator Programme (GAP).
First announced by Prime Minister Najib Razak during the inaugural Global Entrepreneurship Community (GECommunity) 2016, GAP is an evolution of MaGIC’s Accelerator Programme (MAP), taking the highly popular programme to the global stage after three successful cohorts with Malaysian and regional startups.
GAP is set to commence in July 2017 with 80 handpicked local, regional and global startups participating in the four-month programme. The programme is built on an existing framework and curated content, with a strong Southeast Asian foundation. Entrepreneurs will also have the chance to enhance their business ideas based on GAP’s nine industry verticals: biotech, education, social innovation, lifestyle, supply chain, creative, finance, healthcare, as well as smart cities.
Ashran Dato’ Ghazi, Chief Executive Officer of MaGIC, said: “After witnessing strong global interest in our ASEAN and Social Entrepreneurship accelerators last year, we decided to evolve the programme and take it to the global stage. I hope the programme will foster cross-border collaboration in entrepreneurship and innovation between global, regional and local entrepreneurs.”
He continued: “This programme could be a great springboard for global entrepreneurs looking to expand and grow in Southeast Asia as well as helping Malaysian entrepreneurs take their concepts out to the region, or even further afield. We hope our well-tested curriculum will help these entrepreneurs to fine-tune their ideas and bring their businesses to greater heights. We encourage anyone interested to come along to one of the roadshows and find out more, this could be your entry point into one of the most exciting entrepreneurship ecosystems in the region.”
GAP will give selected global entrepreneurs a head start, equipping them with the necessary skills, knowledge, and network to break into ASEAN, a region that is often touted as the world’s next consumer powerhouse. The programme will also further establish and strengthen Malaysia’s position as an ideal gateway to the region for entrepreneurs to expand their business and reach.
During the four-month programme, MaGIC will provide 80 handpicked startups with benefits worth over USD400,000 from Microsoft, Amazon Web Services, 123 RF, PiktoChart, and many more; an opportunity to learn from world-class mentors and investors; direct access to leading route-to-market partners in Southeast Asia – such as Axiata, Digi, Maxis, Maybank, and Accenture; as well as visa, monthly stipend, return flights, accommodation, and co-working space.
GAP’s first cohort will be the largest MaGIC has hosted yet – the previous three cohorts had an average of 75 startups per cohort. It will also merge MAP’s two tracks: ASEAN and Social Enterprise into one, in a push to encourage each of the participating startups to have a social mission and integrate social enterprise into their startup as they set out on their journey to build a sustainable business.