Digital News Asia
ScaleUp Malaysia officially launched Cohort 2 of its well regarded ScaleUp Malaysia accelerator programme, based in Kuala Lumpur, powered by Quest Ventures on 22 October 2020. The launch was virtual and attended by partners and representatives from Quest Ventures, ScaleUp Malaysia, media, together with the participating companies.
The 20 participating companies will undergo a 3-month intensive deep business coaching through group-based training on product management, finance, strategic planning, valuation, market access and more. They will also be part of a month-long investor readiness bootcamp to prepare them for fund-raising before presenting their solutions to an Investment Committee at the end of the programme.
Jeffrey Seah, Partner at Quest Ventures, said “We are impressed by the mentality and dexterity of the startup founders we met in Scaleup Malaysia cohort 2. The entrepreneurs demonstrated an incisive read of their markets and business targets, and critically their international outlook to scaling is inspiring. We believe that many from Cohort 2 – besides the shortlisted – will be able to build scalable, multi-market going concern businesses. We are excited by their realisable potential.”
In early September, ScaleUp Malaysia announced their partnership with Quest Ventures, a Singapore-based venture capital firm to invest and scale the regional growth of top Malaysian startups which will see a Foreign Direct Investment deal worth US$1,000,000 (RM4,150,000) to develop and grow Malaysian startups. As part of the partnership, Quest Ventures will invest at least USD$60,250 (RM250,000) in up to 12 companies participating in the accelerator.