Sidec’s accelerator has helped 120 startups, here’s how you can get a share of RM50k funding

[This is a sponsored article with Sidec.]

Last year, we covered the 4th Selangor Accelerator Programme (SAP) cohort of Selangor Information Technology & Digital Economy Corporation (Sidec), where 30 startups were shortlisted and subsequently received prizes and access to industry professionals to aid them in their development.

This year, Sidec is looking to build the 5th cohort of SAP, furthering its objectives of helping startups realise their potential to create and promote innovative solutions. 

At the end of the accelerator programme, the top 30 startups could win a cut of the RM50,000 prize pool and other beneficial perks to further develop their business. Here’s how to be part of it.

If you’re in any of these verticals, SAP wants you

Similar to last year, there will be five main verticals in SAP that startups can specialise in such as agritech, greentech, smart city, fintech, and the newly introduced healthtech, which replaces last year’s e-commerce vertical.

This change follows how the pandemic has pushed healthcare technology into a more crucial role in Malaysia and the rest of the globe’s healthcare sectors, with new healthcare technologies even changing the way people address their needs.

Other than the main verticals, startups focusing on artificial intelligence (AI), blockchain, cloud computing, big data, machine learning, Internet of Things (IoT), and more, are welcome to join.

The theme for this year’s SAP will revolve around net zero, sustainability, and the circular economy. If your idea (regardless of vertical) addresses any one of these concepts, you might already be one step closer to the prize.

SAP stacks on the support too

On top of the network of angel investors, government bodies, and venture capitalists that startups will have access to, you’ll also be able to develop your soft skills and pitching styles so that you and your business are ready to face potential investors.

Furthermore, you will be given overseas pitching opportunities and study trips to gain industry-related exposure.

One SAP 2021 alumni, Francis Lui, the founder and CEO of NexMind AI, a big data and AI company, highlighted that he developed several necessary skills like how to give a five-minute presentation, prepare a pitch deck for investors, identify pitfalls of a startup and how to avoid them.

He also noted that the programme provides other benefits, including press coverage, exposure and endorsement from Sidec, plus a network of startups and experienced mentors to help you out.

Here’s what you need to know to join

There is no entry fee to join SAP, and Malaysian startups in the pre-seed or seeding stage are eligible to sign up for the three-month accelerator programme.

However, you must ensure that your business is registered with Suruhanjaya Syarikat Malaysia (SSM). You should also have a minimum viable product (MVP) or at least a beta version of your service.

Here’s a programme timeline:

The acceleration phase includes 11 workshops, three pitching clinics, five office-hour mentoring sessions, and one closed-door semi-final stage, which will last until September 9, 2022. Do note that some of the SAP modules might be done on-site (offline).

As for what happens during the Demo Day, check out one of SAP’s videos here:

After the demo phase, the top 30 startups chosen by the judges will be eligible for:

• US$5,000 worth of Amazon Web Services (AWS) credit, 
• Six months of free access to the Selangor Digital Creative Centre (SDCC) coworking space,
• The opportunity to work with industry players, and more.

On the other hand, the top 10 out of the 30 startups will get the previously mentioned benefits and an additional six months of access to SDCC.

Last but not least, the top five out of the 30 shortlisted will enjoy an additional US$5,000 in AWS credits and RM10,000 in cash per startup.

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Since the first cohort of SAP in 2018, Sidec has helped 120 startups with 34% of them receiving funding to aid in developing their businesses. With the 5th cohort starting soon, they are looking for another 30 potential startups to work with.

If you’re keen on taking your startup to the next level, Sidec’s SAP is an option that will prepare you with the crucial skills needed to run your business and pitch to potential investors.

Registrations are open from May 10, 2022, onwards, and you can check out Sidec’s official website to know more.

• Register to take part in Sidec’s SAP here.
• Find out more information about Sidec’s SAP here.

Featured Image Credit: Sidec