Top 10 Startup Accelerators in Malaysia

Ben Lim Finance, Funding, Startups 3 Comments

p/s Great news! Our Startup Accelerator is accepting applications! If you are a Startup just starting out or have under RM40k revenue, we would love to help you become invest-able! We offer RM50k funding and the best Startup Mentors (real ex-entrepreneurs) for 6 months for 8% equity. Applications end Dec 31.

Top Startup Accelerators in Malaysia

Here are the top accelerators in Malaysia (in no particular order). They are mostly startups accelerators in Kuala Lumpur. One of them is in Johor. Note that not all accelerators are suitable for every Startup. Choosing the right accelerator depends on what your Startup lacks. If the weakness of your startup or founding team is the access to the industry or market, then perhaps the corporate accelerators would be better. If you are looking for strong mentors that dedicate more time to helping your team, then the private accelerators with smaller batches will be better. If you would like a classroom-style or educational based accelerator, then perhaps the larger batch accelerators are suitable.

For other Startup Funding (Malaysia & ASEAN) choices, look below for Startup funding alternatives.

Government Startup Accelerators in Malaysia

startup accelerators in malaysia

MaGIC Startup Accelerator

The Magic Startup Accelerator is a large-scale accelerator (50-100 per batch) set up by the Malaysian Government. They run mostly based on a classroom model. The program is 4 months. Rm1000/month allowance. RM30k in 15 weeks. Mentors are mostly other startup founders. They mostly accept startups with some form of early stage traction – especially revenue traction.

RAVE Accelerator by MyNEF

The accelerator is another government initiative, with RAVE being a subsidiary of MyNEF. They run a 3-month program providing RM20k to winners only for x% equity. 

Private Startup Accelerators in Malaysia

private accelerators startups malaysiaNEXEA Accelerator

The NEXEA Accelerator Program is focussed on value creation through our 3 Value Creation Engines. We provide real mentoring through successful businessmen/entrepreneurs who have started and even sold their businesses. They bring in huge value through their decades of business experience, proven business knowledge, and regional (Southeast Asia) business network. We have a team of Startup consultants that specialise in the early lifecycle of Startups, and a dedicated Tech team (optional) to take care of the MVP or IT development.

The program has no application deadline (run throughout the year), and it is a 4-month intensive mentorship program focussed on bringing in strong traction growth. We have a notable portfolio of Startups that proves our Startup Validation methodology works. The program provides RM50k for 8% Equity. We normally follow up with our investments for up to RM500k after the program ends through our Startup Fund by leading Angel Investors who invest in Southeast Asian Startups. We can also make warm introductions to our partner Venture Capital firms in the region for further funding.

The Hangout Startup Accelerator in Johor

The hangout is located in Johor. Key information not available from their website or other sources. Do contact them to find out.

Cyberlab/FinNext Startup Accelerator in Cyberjaya

CLLA (Cyber Lab Living Accelerator) is run by FinNext, the people behind the Fintech association in Malaysia. Resources worth RM50k (not in cash) in 5 months.

MAD Incubator

Idea Stage Startups can apply. No other key Info on their site.

Khazanah Neo Accelerator

Khazanah has gathered 3 accelerators called 1337 Ventures, Code Ar.my and Watch Tower and Friends to create Khazanah Neo. The program is 3 months long, providing RM20k for 2% to the selected teams only. Update: We moved this to under “Private Accelerators” from “Government Accelerators” although Khazanah Neo is under the Malaysian Government and it is not actually an accelerator in itself. However, the three privately-owned accelerators below are contracted by Khazanah Neo to run the actual programs, so we do agree it belongs here.

1337 Accelerator

1337 Startup Accelerator is run by 1337 Ventures. RM10k for x% of Equity is awarded to Startups. Mentors are the 1337 Founders.

Codear.my

Codear.my is a local accelerator run by 2 founders. They provide RM20k for 2% in a 3-month long program.

Watch Tower & Friends Accelerator

Watchtower is a private accelerator run by the owners of PitchIn. RM50k for 8% in 4 months. Idea stage startups can apply. The mentors are founders of Watchtower. Update: They’ve started in Oct 2014 and have run their first batch since Jan 2015.

Corporate Startup Accelerators in Malaysia

corporate accelerators malaysia

Sunway iLabs Incubator & Accelerator

Sunway iLabs is a brand new Incubator + Accelerator located at Bandar Sunway. They run a 12-week program with funding in exchange for equity. The mentors are mostly from Sunway.

Tunelabs Startup Accelerator

The accelerator is run by Tune Labs (AirAsia has common owners). The mentors are mostly Tunelabs staff. Minimum MVP Stage Startups. No other key info on their site.

Hong Leong Bank Startup Accelerator

HLB Launchpad Startup Accelerator is run by Hong Leong Bank. RM25k in 12 weeks. Their mentors are mostly Hong Leong staff. 

DiGi Startup Accelerator in Bangkok (Recruitment in Malaysia)

Digi Startup Accelerator is run by Telenor group (mother company) – which is why the actual program is in Bangkok. Undisclosed resources (not all in cash) for 5-10% equity. Mentors are mostly Digi staff.

Accelerator Reviews in Malaysia

To remain completely transparent and neutral, we do encourage accelerator participants to review their accelerators in the comments below. Help out your fellow entrepreneurial founders find the right fitting accelerators. These startup accelerator reviews will greatly help the new and upcoming founders of Malaysia.

More Startup Funding Alternatives

https://www.nexeaangels.com/startup-fund-malaysia-southeast-asia/

List of Venture Capital (VC) in Malaysia 2017

Startup Grants in Malaysia

Equity CrowdFunding (ECF) in Malaysia – Alternative Investment

  • Ask me anything about accelerators!

    • Sam Shafie

      You got to update the article, Ben. WTF Accelerator is not an accelerator under Khazanah NEO. Together with 2 accelerator companies you mentioned, we were contracted by Khazanah to undertake the NEO program. For all intent and purpose, all 3 of us are private accelerators ourselves. So putting us under Khazanah NEO is a bit misleading without mentioning that we also run our own accelerator and would fit under the “Private Startup Accelerators”. You’re also aware that we’ve been running WTF Accelerator since Oct 2014 and took our 1st Batch in Jan 2015. Cheers

      • Hi Sam, I totally agree and have made the changes. Thanks for your input!