AFTER a month of intense promotion, the Selangor Information Technology and E-Commerce Council (Sitec) has shortlisted startups eligible for the Selangor Accelerator Programme (SAP) at a ceremony held in i-City, Shah Alam.
The ceremony, which marked the start of a four-month intensive programme, was attended by state Investment, Industry and Trade, Small and Medium Industries Committee chairman Datuk Teng Chang Khim, Malaysia Digital Economy Corporation enterprise development vice-president Gopi Ganesalingam and Sitec chief executive Yong Kai Ping.
Thirty teams were chosen out of 102 applicants, with many from fields and industries such as eCommerce, AI, blockchain, IoT, logistics, agritech and biotech.
The SAP targets startups based in new or emerging technologies applicable across industries such as AI, blockchain, cloud computing, big data and machine learning, offering them fully-sponsored local and overseas trips, valuable networking opportunities, peer support communities, hands-on workshops, pitching clinics and one-to-one mentoring sessions.
“We know that these digital economy trends are not exactly new and have been around for the past few years,” said Yong.
“As consumers increasingly look to digital means to obtain goods and services, it is only natural for businesses to upgrade themselves with cutting-edge technology to deal with the demands of digital economy.
“The SAP, which would not be possible without the support of the Selangor government, allows us to play a direct role in nurturing startups of the future by prepping them to be investor-ready through refining their business processes, products and operations.
“It will expose local startups to pitching and networking opportunities with international investors, companies and innovators, as well as access to mentoring with some of the best leaders around.
“Our programme has been incredibly popular since its first run last year, with many of our alumni going to greater heights. Alumni Dropee even obtained a USD350,000 (RM1.4mil) investor funding, while others received Cradle Fund’s CIP 300 funding,” added Yong.
All 30 teams presented their 60-second elevator pitches, which summarise their businesses and aims.
The first mentor speed dating session for the programme took place soon after.