The Global Accelerator Programme (GAP) is a three-month-long virtual programme running out of the Malaysian Global Innovation & Creativity Centre (MaGIC) in Cyberjaya. It aims to build a strong ASEAN startup community by cultivating ASEAN relationships. MaGIC equips local and global start-ups with the necessary skills, tools, and network, as the gateway to a larger ASEAN market for opportunities. GAP will provide the selected startups with a head start to break into the Southeast Asian market, a region that is often touted as the world’s next consumer powerhouse.
During the programme, MaGIC will be equipping participants with benefits from various programme benefit partners; industry-specific training, an opportunity to learn from world-class technical and business mentors; a stronger route-to-market focus with extensive corporate support, and partnerships in place with private sector champions as well as access to pre-recorded curriculum content 24/7 throughout the programme and access to potential funding opportunity via GAP Partner Programme.
GAP is Malaysia’s leading mid-to-late stage startup growth programme that is tailored for both local and international startups with an ambition to expand in the ASEAN market. It will be MaGIC’s second virtual accelerator programme which allows us to reach out to more founders and deliver broader resources to their companies from both local and international industries. MaGIC will be able to bring benefit to the participants to tap into opportunities beyond its borders as part of accelerating the start-ups’ growth journey.
The curriculum will be live, but the participants can still access the content after the live sessions. This content will be available 24/7. With a dedicated mentorship platform and exclusive access to MaGIC’s alumni network and community, GAP offers greater value creation for startups and the opportunity to build a strong network with corporates and investors.
The syllabus is set to include relationship-building meetings with Entrepreneurs in Residence and Mentors. This new and improved acceleration journey was crafted based on feedback from alumni and subject matter experts from the previous cohort.
The three-month journey will kick off with the first curriculum pillar of “Investment Readiness”, where startups will focus on financial literacy and investment analysis. Followed by the second pillar of “Technology Readiness”, which focuses on how to identify each technological element and how startups can implement it into their startups and further enhance their products. The curriculum ends with the “Entrepreneurship” pillar, which will equip the startups with fundamental business knowledge when they present their startups and themselves as founders.
After three months of being equipped with the knowledge, networking, and mentoring, the startup founders will be transformed into leaders who can accelerate innovation for economic recovery. The startups will be ready to pitch to regional investors on Demo Day in the first week of September 2021 to mark the conclusion of their three-month journey with GAP. Their pitch will be live-streamed across all social media platforms with various stakeholders, investors and partners as in-stream delegates.
New interventions are going to be introduced for the Virtual GAP Cohort 05, such as the National Technology Innovation Sandbox (NTIS) initiative. Having successfully funnelled startups from NTIS to Virtual GAP in the previous cohort, there is a forecast that high performing startups from GAP will have the potential to be funnelled to NTIS. Another intervention for Virtual GAP Cohort 05 is the opportunity to be funnelled to Global Market-Fit Programme (GMP), for local startups who wish to expand to beyond Asia and MyStartup Hub Programme (MSH), for startups from all over the world who wish to establish a business hub in Malaysia, post programme.
Virtual GAP Cohort 05 2021
MaGIC’s award-winning GAP is one of the largest and most stringent accelerator programmes in Southeast Asia with an average acceptance rate for the last 4 cohorts of 4.2 percent. The GAP curriculum has been extensively revised to virtually cater to the startups who wish to accelerate innovation for economic recovery.
The programme has been maintained and expanded not only to focus on building internal business resilience, but also to focus on helping participants build a network within the venture capital space and better position themselves to secure seed funding or other forms of investor commitments.
This year’s curriculum emphasises coaching and mentoring while focusing on a more holistic approach, which includes technological interventions, sustainability and adaptability. Assessing the impact caused by the pandemic, Virtual GAP Cohort 05’s content has been refined to address the potential future challenges and risks, at the same time, leveraging existing and opportunistic trends.
Looking beyond the direct benefits startups take from the programme in the form of upskilling their teams, mentorship, and access to route-to-market partners, GAP also helps rising startups, or those looking to take their venture to the next level. It will assist them to connect with global startups, share learnings, different viewpoints, and explore expansion opportunities in Southeast Asia.
Startups that are accepted into these programmes are selected based on their readiness for mid-late stage regional deal flows and their potential to expand into ASEAN markets.
As of 3 September 2020, MaGIC has impacted nearly 116,982 entrepreneurs through more than 1,227 entrepreneurship development programmes and events. Over a total of 147 startups graduated from GAP spanning 4 years with total revenue generated at RM310 million and total investments raised at RM116 million.
GAP Demo Day
GAP Demo Day marks the conclusion of a rigorous three-month programme, equipping startups with the necessary skills, knowledge and network to scale successfully in ASEAN. The startups will present their stronger and smarter business ideas to a room full of investors, partners and mentors.
GAP Investment Partner Programme
This programme will have exclusive insights to the startups for potential investment throughout GAP and post-GAP period. Besides potential funding, this initiative will also offer opportunities to GAP participants to leverage on Partner’s network for market access.
The startups’ success rate is measured by tracking their increase in revenue obtained or funding raised during the program. Post programme, their progress is monitored for 24 months.
Here are a few of the graduates who have gone on to raise funding as well as listing their company: