MaGIC Entrepreneurship Development Global Accelerator Program executive Maegan Yip (right) briefing visitors during the roadshow in Penang.
On its completion, they can pitch to hundreds of investors from countries such as Japan, Singapore and Thailand.
Through the Global Accelerator programme of the Malaysian Global Innovation and Creativity Centre (MaGIC), 80 enterprising teams of any nationality who can commit full time from July 4 to Oct 17 stand to benefit.
Programme coordinator Cheng Loke Chong said those approved to join get benefits including RM1,000 monthly allowances, free accommodation and round-trip flight reimbursements of up to RM1,000.
“We help startups who face limited resources, business connections, community support or lack the adequate skill sets,” he said at MaGIC’s roadshow in the state’s Accelerator for Creative, Analytics & Technology Centre in China Street Ghaut in Penang, recently.
He said MaGIC, as an entrepreneur empowerment centre under the Finance Ministry, do not take any equity in the startups.
The programme, he said, was tailored for entrepreneur teams that have market-ready products with some traction as well as a highly scalable growth potential.
“Some of the mentors in the programme include experienced businessmen and executives from Lazada, Unicef, Skolafund, Media Prima, Zomato, FlySpaces.com and myBurgerLab.”
Cheng added that the four learning themes of the programme were product market fit, outcome-driven metrics and Asean expansion and funding, leading up to “Demo Day”, when participants will pitch to hundreds of investors.
Applications for the July intake are open until April 7 through http://accelerator.mymagic.my/en/gap/.
Applicants will need to upload a 90-second video pitch of their ideas to YouTube.