KUALA LUMPUR, 11 October 2024 — The MYStartup Pre-Accelerator Cohort 4, powered by Cradle Fund Sdn Bhd (Cradle) in collaboration with WatchTower and Friends, successfully concluded its Demo Day on 4 October 2024 at Grey Box, GMBB, marking the culmination of over three months of intensive mentorship, training, and business development.
Eleven (11) finalist startups presented their Minimum Viable Products (MVPs) to a panel of judges, showcasing innovative solutions spanning industries such as fintech, health tech, and agritech. These startups were among the 30 initially shortlisted for the programme, having undergone a rigorous process to refine their business models and strategies for market entry.
During the Demo Day, five startups were also crowned the top winners, each receiving RM35,000 in cash prizes alongside additional support and access to MYStartup and partner perks.
The top five startups are as follows:
- DashAdd: AI-powered dashboards that help businesses track financial performance, forecast cash flow, and secure funding for smarter growth.
- IOXTECH Global: Revolutionising construction management with real-time monitoring, seamless progress reports, and efficient workforce tracking for on time, on-budget completions.
- Faradays Energy: Creating a new generation of green technologies to enable clean, abundant, and low-cost hydrogen to end the age of fossil fuels.
- Nanofertech: AI-powered controlled-release technology for precise fertilisation in agriculture.
- Vidanex: Pioneering AI-driven cancer diagnosis with faster results and personalised treatment using advanced digital imaging.
The judging panel featured key figures from Malaysia’s startup ecosystem, including Zehan Teoh, Head of Ecosystem Development at Cradle; CK Chang, Founder of OXWHITE®; Audra Pakalnyte, Partner at First Move; Yeoh Chen Chow, an hourly advisor and angel investor; and Steven Wong, Chief Technology Officer (CTO) of pitchIN. Each startup was evaluated based on criteria such as level of innovation, market potential, and execution capability.
Speaking at the event, Norman Matthieu Vanhaecke, Group CEO of Cradle, praised the quality of the pitches, stating, “The innovation and entrepreneurial spirit demonstrated by this cohort reaffirms our confidence in Malaysia’s talent pool. Startups are the pioneers who see opportunities where others see obstacles, and at Cradle, we understand their vital role in shaping the future of Malaysia’s economy.”
“We are committed to building a thriving startup ecosystem that empowers founders to scale their ideas and make a global impact. The success of these startups is essential for Malaysia’s future, from creating jobs to solving pressing challenges and establishing our nation as a premier hub for technology and entrepreneurship. We are proud to support their growth and eager to see what they achieve next,” he added.
Sam Shafie, CEO and Co-Founder of WatchTower and Friends, reflected on the significance of supporting Malaysia’s entrepreneurial ecosystem, stating, “WatchTower and Friends has been running programmes for entrepreneurs since 2015, and it’s clear there is no shortage of talent in Malaysia. We are proud to continue playing our part in meeting the government’s startup ecosystem roadmap, and we’re constantly updating our programme syllabus to ensure startups are well-equipped. This cohort, for instance, included a new module on environmental, social, and governance (ESG) for startups, recognising that investors are increasingly considering sustainability in their decisions. We recognise the important role of continuously adapting our programmes to equip founders with the tools, insights, and frameworks needed to build sustainable and scalable businesses.”
One of the winning startups, IOXTECH Global, reflected on their journey in the programme. Muhd Amin Rafiq, Co-Founder of IOXTECH Global, shared, “This is just the beginning for us. There’s a lot of work ahead, and we’re grateful for the cash prize and continued support from Cradle and WatchTower and Friends. Before this programme, I felt uncertain about where to start, but the structure and tools provided have been invaluable in building our MVP. We’ve gained critical insights into startup development, and the mentors’ feedback has helped us fine-tune our business model and validate our strategies for the market.”
Nisha Govender, Co-Founder of Nanofertech and one of the winning startups, shared, “Throughout the programme, we connected with successful founders who generously shared their insights, especially the mistakes they made along the way. Learning from their experiences helped us avoid common pitfalls and gain valuable insights. It was incredibly motivating and relatable as a young startup. I highly recommend the pre
accelerator to anyone starting or running a business, as it provides powerful validation and mentorship that refines your business plan to ensure market relevance.”
One of the judges, Yeoh Chen Chow, an hourly advisor and angel investor, also commented, “The calibre of pitches at the MYStartup Pre-Accelerator Demo Day was truly impressive. Many startups demonstrated a deep understanding of their market and showcased innovative solutions with significant potential. The founders presented their ideas with clarity, passion, and a strong strategic vision, which speaks volumes about the rigorous preparation and mentorship they received throughout the programme. It’s clear that Malaysia’s startup landscape is thriving, with talented individuals ready to make an impact.
Since the onboarding session in July 2024, the 30 selected startups have benefited from individualised mentorship and guidance from over 20 experienced entrepreneurs and industry leaders, as well as exclusive networking opportunities, invitations to innovation hubs, and access to market research.
The MYStartup Pre-Accelerator Programme, an initiative under the Ministry of Science, Technology and Innovation (MOSTI) and powered by Cradle, aims to accelerate early-stage startups through structured mentorship and access to resources. The initiative aligns with the Malaysia Startup Ecosystem Roadmap (SUPER) 2021-2030, which aims to create 5,000 startups by 2025.
Join the startup ecosystem and be part of the innovation today! Visit www.mystartup.gov.my.
