MaGIC's Global Accelerator Programme returns for second year

June 19, 2018
  • Programme expanded to help participants build a network in the VC space
  • Minister of Finance believes Malaysia needs more technopreneurs

A TOTAL of 27 startups from 10 countries were selected to be the second cohort of the Malaysian Global Innovation & Creativity Centre (MaGIC)'s Global Accelerator Programme (GAP).

GAP is one of MaGIC's efforts to strengthen the local and regional entrepreneurship ecosystem, supporting cross-border collaboration in entrepreneurship and innovation.

Part of the criteria of the startups selected is that they need to have the prospect to expand in the Asean market, have highly scalable products and be ready for early-stage investment.

According to MaGIC chief executive officer Ashran Ghazi, this year the programme was expanded 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.

"For us, we believe it is not just about adding more capital into the market but putting focus and emphasis to ensure entrepreneurs truly get access to investments. This is currently the missing link within Malaysia's entrepreneurship ecosystem and one we are actively working to help bridge," he said.

The launch of GAP's second cohort was officiated by Malaysian Finance Minister Lim Guan Eng who said he came to take a peek at what the future has in store in the form of budding young entrepreneurs.

by: Chong Jinn Xiung