Kuala Lumpur, Sept 29: 1337 Ventures is launching its second pre-accelerator programme next month and is looking for 25 start-ups in the financial, insurance and adjacent industries to partake in the event.
Known as “The Alpha Startups for Fintech and Insurtech Pre-Accelerator Programme,” this event will see participation of FWD Start-up Studio as a co-organiser.
“We have always wanted to see the private sector step-up and play a more long-term role in building the Fintech and Insurtech scenes in Malaysia, compared to the touch-and-go approach other players take,” 1337 Ventures CEO Bikesh Lakhmichand said.
“FWD Start-up Studio’s strategy is game-changing, not only because of its long-term commitment to early-stage funding across multiple intakes, but also, because of our programmatic approach to providing startups with insights, paid proof-of-concepts (POCs) and market access.”
1337 Ventures provides funding focusing on pre-seed and seed-stage startups in Malaysia.
It runs accelerator programmes quarterly, and an Alpha Startups Digital Accelerator programme online daily, where any startups can enrol for free.
The participants for the latest accelerator program will be working on a minimum viable product (MVP) and the opportunity to commercialise the product with FWD.
Entrepreneurs and startups will benefit from in-depth coverage of modules as well as access to mentors, tools and technology during the four-week programme.
Subsequently, the top 10 startups would participate in a mentorship programme for eight weeks, during which they will be able to fine-tune their ideas in preparation for a demonstration day.
The winners of program will receive RM150,000 in investments, up to US$100,000 of cloud credits from Amazon Web Services and the opportunity to explore potential POCs with FWD.
They will also have access to the Malaysian Global Innovation and Creativity Centre (MaGIC), which gives start-ups a “green lane” when applying for the National Technology and Innovation Sandbox (NTIS) grants, and extensive mentorship and coaching from Fintech industry leaders.
Applications will close on Oct 7.
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