FREQUENTLY ASKED QUESTIONS (FAQ)

MyStartup Hub

Malaysian Global Innovation & Creativity Centre (MaGIC)

General

What is the  MyStartup Hub 2021?
MaGIC’s MyStartup Hub Program (MSH) is a soft-landing programme for global innovative startups from all over the world to establish a business hub in Malaysia. Collaborating with Malaysian ministries and agencies, MyStartup Hub provides assistance in company incorporation, local talent acquisition, and market access.
What type of startups are you looking for?
We are looking for global startups that are in the high-growth stage, ready to expand in Malaysia. If you fit most of the criteria below, apply!

Ready to establish a business hub in ASEAN

Considering Malaysia as a potential hub

Possess innovations that benefit the people of ASEAN

High-Growth & Expansion stage

Proven traction and technology

>TRL 6 or Series A and above (Expansion ready)

> RM1 million annual revenue

Strong financial records and/or backing (funding)

Looking to hire a minimum of 5 Malaysian team members

Country Director/Manager

Junior/Executives

Minimum team size of 3-5 persons

Priority is given to startups in the following 6 prioritised verticals, but not limited to:

Smart Manufacturing

Smart Cities & Transportation

Healthtech

Edutech

Agritech

Culture, Arts & Tourism

Clear growth plan and commitment to expanding into ASEAN

How do I decide this is the programme for me?
If you have already decided to establish your company in Malaysia. You can participate directly in our MyStartup Hub programme 2021 Q2, in which we will facilitate your business registration, local talent-hiring and market access next year.

If you haven't decided to establish in Malaysia, you may refer to Virtual Market Access Programme 2020 in December 2020. In which we provide the following assistance:

Introduction to Malaysia

Fact-finding session

Understand Startup’s goals

Remote mentorship and support

Assist in scheduling 2 virtual business meetings with potential partners and clients in Malaysia

I’d like to learn more before setting up a hub in Malaysia?
Yes! Then Virtual Market Access Programme is for global startups that haven't decided to establish their company in Malaysia. The fee for this programme is chargeable in USD. Please refer to programme details published on our website.
What are the benefits of this programme?
MyStartup Hub offers foreign startups an incentive -- one (1) valuable Market Access programme into Malaysia. The incentive offer can only be claimed for the participation of one (1) market access programme. You can execute your incentive in the following two (2) scenarios.

Scenario A - If you have already decided to establish your business hub in Malaysia


If you have already decided to establish your business hub in Malaysia. You can sign our incentive offer letter and participate directly onto our MyStartup Hub programme 2021 in Q2, and you can claim the incentive upon fulfilling the following conditions. 

In the following 12 months upon signing the Incentive Offer letter, you’re agreeable to the commitments below:

(1) Registered your company with SSM with paid-up capital 
(2) Hired more than 3 local talents
(3) You’ll be offered the market access programme as Incentive offers at Stage 3 and the commitments (1) & (2) must be fulfilled before incentive claim. 

Scenario B - If you haven't decided to establish in Malaysia

If you haven't decided to establish in Malaysia, you can participate in the Virtual Market Access Programme 2020 in December 2020 and pay the fee stated on our website before the start of this programme. At the same time, you can sign our incentive offer and you can claim the incentive equivalent to the fee you paid for the market access programme upon fulfilling the following criteria. 

In the following 12 months upon signing the Incentive Offer, you’ve:

(1) Registered your company with SSM with paid-up capital 
(2) Hired more than 3 local talents

You’ll also get guidance and assistance from MaGIC to help you fulfill requirements (1) and (2).The commitments (1) & (2) must be fulfilled before incentive claim.
Does MaGIC guarantee I get partnerships and specific connections in these programmes?
As a disclaimer to our programme, we DO NOT guarantee in providing specific connections that you want and DO NOT guarantee successful partnerships, we will be assisting you at best effort basis.
Will MaGIC provide travelling and accommodation reimbursement/claims during this programme?
No. Any travelling, accommodation and/or other expenses, it has to be borne by yourself. The programme fee we’re charging is solely for organizing the Market Access programme’s content. ALL COSTS INCURRED DURING STAGE 1 - BUSINESS REGISTRATION, VISA, EMPLOYMENT PASSES, PROCESS APPLICATIONS & etc; STAGE 2 - TALENT HIRING PROCESS APPLICATIONS, COMMISSION AND FEES & etc ARE TO BE BORNED BY THE STARTUP unless otherwise mentioned.
What are the objectives of the programme?

To provide global startups entry into Malaysia as the testbed and gateway to the ASEAN market

To help global startups with the Malaysia business hub setup, talent hiring and provide market access in assisting them to establish in ASEAN Market

To leverage Malaysia’s strong positioning in the regional ecosystem for local and international startups

To instil the exchange of knowledge between local startups and international startups to be more forward-thinking and relevant to IR 4.0

Why should I join the programme?
We will assist you in your business set-up, talent recruitment and vertical-specific market access via our network of partners including government agencies, corporates and universities. At best effort, we will connect you to our available connections, however, our programme DO NOT guarantee any specific connections or successful partnerships.
What is the commitment required from startups?
Startups are required to commit to the programme on a meeting schedule basis for the entire duration during the market access programme. Workshops and business meetings will be conducted digitally or physically and startups will have the rest of the time free to work on their business as needed.
What are my responsibilities throughout the MyStartup Hub programme?
It is important to note that this programme provides guidance and assistance to register a company and hire talents in Malaysia, ALL COSTS INCURRED DURING STAGE 1 - BUSINESS REGISTRATION, VISA, EMPLOYMENT PASSES, PROCESS APPLICATIONS & etc; STAGE 2 - TALENT HIRING PROCESS APPLICATIONS, COMMISSION AND FEES & etc ARE TO BE BORNED BY THE STARTUP unless otherwise mentioned. we DO NOT hands-on, represent, deliver or execute the work on your behalf, you’ll be responsible to communicate, deal direct, liaise, compile and provide sufficient information and documentation as requested by any connections we provided to ensure your success in registration and hiring.  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 maximise the opportunities during this programme to acquire contracts, revenues and fundings in Malaysia, and obliged to report the outcomes to the MaGIC ACE team during 12 months after the end of the programme.
How long does the programme last?
The programme’s duration varies according to the respective programme phase and kindly refer to the programme details page for the programme duration.
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 belong 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?
For your startup to entitle the Market Access Programme at stage 3, you need to incorporate the company in Malaysia and hire more than 3 local talents within 12 months after the global startup signs the Incentive Offer Letter.
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 MyStartup Hub Programme measure success?
Our focus is to help the startup expand its market to Malaysia. Our key measure of success is to increase the number of foreign startups expanding to the Malaysia market by increasing the opportunities for knowledge transfer, and job creation opportunities.
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 a 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 expanding stage startups, therefore, we allow some flexibility in sending a 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.
Instead of uploading my documents on MaGIC’s MSH 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.
How can  I apply?
Kindly submit your applications here
When can I apply?
Please refer to the intake opening on our official website.
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.
Will I get notified if my application gets rejected? What can I do after?
Yes, we can assure you that you will be notified.
What do I need to apply for MSH? 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 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.