FREQUENTLY ASKED QUESTIONS (FAQ)

GLOBAL MARKET-FIT PROGRAMME 2020 (GMP)

Malaysia Global Innovation & Creativity Centre (MaGIC)

General

What is the Virtual GLOBAL MARKET-FIT PROGRAMME 2020 (“Virtual GMP 2020”)?
An online platform for innovative startups to explore and gain international market access and network in countries beyond Asia. This program aims to assist Malaysian startups in navigating the common obstacles when expanding to other countries, by collaborating with partners to establish bilateral launch pads to expedite the global expansion of both Malaysian and foreign startups.
What type of startups are you looking for?
We are looking for startups that are in the high-growth stage, ready to expand beyond ASEAN
What is the type of trips you are referring to?
The GMP is supposed to be a physical trip that we plan to bring our startups abroad, however, due to COVID-19 situation, we are conducting all GMP programmes virtually in 2020. You may refer to the trip as a virtual trip that we are hosting you in another market or region.
Do I need to pay for the programme?
Yes, there is a programme fee associated with the programme you picked, the programme fee is used to organize the said market-fit programme to the market you picked, and the cost is used to organize the programme’s content. The cost is published on our official website and it may differ from programme to programme depending on the commitment of the programme.
Will MaGIC provide traveling and accommodation reimbursement/claims during this programme?
No. Any traveling, accommodation and/or other expenses, it has to be borne by yourself. The programme fee we’re charging is solely for organizing the programme’s content.
What are the objectives of the programme?
Virtual Global Market-Fit Programme 2020 (Virtual GMP 2020) aims to assist Malaysian startups in navigating the common obstacles when expanding to other countries. Recognized for its strong regional focus with industry-specific partners and mentors, dedicated mentorship platform and exclusive network access to MaGIC's regional entrepreneurship ecosystem.
Why should I join the programme?
The online programme will prepare you with the knowledge and relationships to expand in other markets and regions. Startups will learn from inspiring mentors and meet and gain access to international investors and route-to-market partners.
What is the commitment required from startups?
Startups are required to commit to the online programme on a meeting schedule basis for the entire duration. Workshops and business meetings will be conducted digitally and partly physically in Malaysia and startups will have the rest of the time free to work on their business as needed. The full agenda and commitment required please refer to the respective programme detail. The core focus of the programme is for you to build your network, grow your business and achieve your milestones. It’s also the responsibility of startups to maximize the opportunities during this programme to acquire contracts, revenues and fundings in the participating markets and regions, and obliged to report the outcomes to the MaGIC GMP’s team during 24 months after the end of the programme.
What do you mean by full-time?
Virtual GMP is a programme designed for dedicated teams who are fully focused on their startups and not for part-time founders or freelancers. The team must be fully committed for the duration on an as and when needed basis for scheduled meetings with 90-100% attendance. Absence is required in written notice one (1) week before the meeting informing the GMP’s team. Alternatively, co-founders and/or senior management of the company can be representative to the meeting.
How is the programme different from other startup expansion programmes?
Other than building connections and networks, startups may be assigned to an international mentor for the duration  to hand-hold during expansion depending on the programme you picked. Some of these programmes include a 5-days Design Sprint workshop to guide startups to derive a specific product/service market-fit strategy to the new market, assisting in adjustment on the current business model for international expansion. Please note NOT ALL programmes will include the Design Sprint workshop, validation trip and/or pre, during & post-programme mentoring, kindly refer to the programme agenda for final detail.
Is GMP a full virtual programme?
As much as the name implies, we are conducting 80-100% of these programmes online due to restriction on international travels. However, some programmes that include the Design Sprint workshop will be conducted physically at our MaGIC campus, of course! Your attendance is compulsory for the workshop too! it is also subject to change depending on our government restriction on social distancing.
How long does the programme last?
The programme’s duration varies according to the respective programme and kindly refer to the programme details page for programme duration.
Do we need to move to be based in Malaysia to join the programme?
No, the program is based online and participants are able to attend the session digitally from where they are located. However, this programme is for Malaysian based startups only.
Does MaGIC invest in startups?
MaGIC does not invest or take any equity in the startups during the programme. Any connections and relationships acquired during the programme solely belongs to the startups. MaGIC does not interfere in any decision making in any future business dealings.
Do we have to incorporate a company in Malaysia?
Yes, you are required to be a company in Malaysia with attractive business traction in the Malaysia market and/or any other markets before and during the programme, that you believe can be expanded into other markets.
Does MaGIC provide cash funding/investment?
No, MaGIC does not fund any startup during the programme.
Will MaGIC help with PR/media?
There is no direct PR support. However, startups may potentially get highlighted in local/regional press.
How does the Virtual Global Market-Fit Programme measure success?
Our focus is to help the startup expand their market to different markets and regions. Our key measure of success is to increase the number of Malaysian startups expanding to markets abroad by acquiring contracts, revenues and fundings.
May I have the agenda for the programme?
The agenda is not available publicly but you will receive it once selected
Please explain more about the level of commitment required during the programme -- do I need to be there online each day?
All participants are required to have an 90% check-in attendance throughout this programme to update your progress.
Can I make changes (add/replace) to my team members, even after being accepted into the programme?
We understand that operation is utmost important for an expanding stage startups, therefore, we allow some flexibility in sending representative to the programme’s meetings that you as the primary applicant is not able to attend, however, the communication between your team needs to be consistent in order to portrait a good image in follow up to MaGIC, the international mentors and partners.
Instead of uploading my documents on MaGIC’s GMP website, can I just submit it through email?
No, participants are required to submit all documents on our online application . Note: Unless there are issues uploading the documents.I’m at a very early stage of building my product and business, should I join Virtual GMP?

Virtual GMP might be too extensive for you. Why not join our Bootcamps to solidify your business plan and strategy? Visit MaGIC Bootcamp — MaGIC
How can  I apply?
Kindly submit your applications at MaGIC Account
When can I apply?
Please refer to the intake opening on our official website by selecting your interested markets for entry
Do we need to have a Malaysian founder to apply for this programme?
Yes, this online programme is only open to Malaysian startups looking to expand.
Can we apply even though we already received funding for our startup?
Yes, of course.
When will we find out if we got accepted into the programme?
MaGIC aims to notify all applicants on the status of their applications one (1) month after the closing of application.
Can we apply if we are a current or past recipient of another MaGIC programme; e.g. Stanford Go2Market, Web Development Bootcamp, etc.?
Yes, MaGIC alumni are encouraged to apply.
Can we apply if we have previously participated in other expansion programmes outside of MaGIC?
Yes
Do you only give funds to startups who only write software?
MaGIC does not provide funding.
My team outsources software development. Are we still qualified to apply?
Yes
Will I get notified if my application gets rejected? What can I do after?
Yes, we can assure you that you will be notified. Please do not lose hope as there are many other MaGIC programmes you can attend based on your startup stage growth by checking our MaGIC website
What do I need to apply for Virtual GMP? Recommendation letter? Pitch video?
Please refer to the online application form on our website. The application will require information about your startup and your team.
Will MaGIC provide working space?
No this program is online, which means you are able to stream it from anywhere you are located. However, you are required to learn, coordinate and familiarize yourself with the platform we use to conduct the programme.
Do I need to apply for a visa to participate in this programme?
No. Since this is an online course, you will not be required to fly to the chosen country.
Will MaGIC provide any insurance cover during the programme?
Insurance will not be provided.
Where do I go if I have more questions?
Thank you for your interest. Kindly email ace@mymagic.my and our team will get back to you.
I’m only interested in being a mentor or going in as a programme partner. Who can I contact?
Kindly email ace@mymagic.my and our team will get back to you.