Asia’s biggest startup accelerator program is happening right now in Cyberjaya, with close to 80 startups being hosted at MaGIC (Malaysian Global Innovation and Creativity Centre).
The ASEAN region is set to compete with other worldwide regions in terms of producing highly scalable startups. Currently, there are more than 80 early stage and growth stage startups participating in MaGIC and 500 Startup Accelerator Programs.
MaGIC’s accelerator program (MAP) has a total of 77 startups which consist of 30 local startups, 22 ASEAN focused startups and 25 local Social Enterprises.
The program was just initiated a few weeks ago and will last for about 4 months. At the end of the program, they will have a demo day for them to pitch to potential investors to get funding. Full program structure is available here.
Meanwhile, there are another 7 growth stage startups under an accelerator program called Distro Dojo, a 10-week program led by 500 Startups, brings experts in customer acquisition, ‘growth hacking’ and distribution to work with ASEAN growth-stage startups to exceed their customer / user growth goals.
ASEAN based startups such as GrabTaxi, KFIT, KitaBisa.com, Next Academy and Shoppr are just some of the participants of this prestigious program.
Shown in this picture is ex-Groupon’s Joel Neoh, who recently started KFIT and raised US$3.25m within a short period of 4 months. He was speaking to MAP participants and sharing his experience building his startups and how he grew them regionally.
This is an exciting time happening in South East Asia and I hope this region will become the next focus for investors.