MYStartup Accelerator channels RM5.5mil into local startups
KUALA LUMPUR: Cradle Fund Sdn Bhd's MYStartup Accelerator has facilitated nearly RM5.5 million in investments over five cohorts, underscoring its role in strengthening Malaysia's startup ecosystem and advancing the country's position as a regional innovation hub.
In a statement today, Cradle said the programme, under the purview of the Ministry of Science, Technology and Innovation, is operated by Cradle in partnership with NEXEA, a venture capital and startup accelerator firm.
"Having completed five cohorts, we have gained meaningful insights into the needs of Malaysian startups.
"Our next goal is to expand our reach nationwide and ensure startups in all regions have equal access to growth opportunities," said group chief executive officer Norman Matthieu Vanhaecke.
According to Cradle, the Cohort 5 Demo Day showcased innovative solutions in areas including artificial intelligence (AI), aquaculture, electric vehicle (EV) infrastructure, and smart retail.
Of the eight finalists, five received cash prizes from Cradle, while four secured a total of RM800,000 in investments from NEXEA.
The finalists were selected from a competitive pool of 747 applicants.
It noted that among the standout startups were Paix Tech, which automates enterprise utility payments using AI; Ocean Rich Resources, which developed a scalable oyster farming system; and Recharge Xolutions, which offers integrated EV charging and green energy solutions.
The MYStartup Accelerator continues to play a vital role in building Malaysia's tech-driven future by empowering bold, innovative, and sustainable startups, Cradle added.
NEXEA is distinguished by its network of mentors, many of whom are successful entrepreneurs and C-level executives, and has helped its portfolio companies achieve annual growth of up to 16 times.
Meanwhile, the focal agency for early-stage startups, Cradle, has supported over 1,100 tech startups and boasts the highest commercialisation rate among government grants. - Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Borneo Post
an hour ago
- Borneo Post
Senior exec in Bintulu loses RM600,000 in online investment scam
Photo for illustration purposes only. — Photo by Thallen Merlin/Pexels BINTULU (July 5): A senior company executive in his 60s has fallen victim to an online investment scam, suffering losses amounting to approximately RM600,000, said Sarawak Police Commissioner Dato Mancha Ata. He said the victim lodged a police report after realising he had been duped by a fraudulent investment scheme that began in early March this year. 'The victim, while at home, came across an online advertisement promoting a foreign currency investment opportunity, purportedly linked to an established financial institution,' Mancha said in a statement yesterday. Upon clicking the link, the victim was contacted by an individual claiming to represent JP Morgan. The suspect instructed the victim to download an application via a provided link and guided him through the process of investing via what appeared to be a legitimate platform. 'Over a period of time, the victim made several transactions totalling about RM600,000 into various bank accounts supplied by the suspect,' Mancha said. The scam came to light when the suspect repeatedly requested additional payments, claiming they were necessary to release the investment returns. Suspicious of the continuous demands, the victim eventually realised he had been scammed. To date, the victim has only managed to recover RM441 from the so-called investment. Mancha urged the public to exercise caution when encountering investment opportunities online, especially those promoted through unsolicited links or messages. 'Do not be easily influenced by investment offers advertised on social media or unfamiliar websites. Always conduct background checks and verify the legitimacy of the company or platform before making any financial commitment,' he advised. He encouraged the public to utilise tools such as the Whoscall mobile application available on Google Play Store and Apple App Store to screen unknown calls and reduce exposure to scam-related risks. Mancha also advised the public to check the status of any investment company or website via the official portals of Bank Negara Malaysia ( BNM Telelink: 1-300-88-5465) or the Securities Commission Malaysia ( tel: 03-6204 8999). 'For individuals who have just made a transaction to a suspected scam account or e-wallet, it is critical to immediately contact the National Scam Response Centre (NSRC) via the 997 hotline,' he added. The case is currently under investigation.
The Star
2 hours ago
- The Star
Malaysia puts anti-dumping duties on some China, South Korea, Vietnam iron, steel
KUALA LUMPUR: The government has found sufficient evidence that imports of galvanised iron or steel coil and sheet products from China, South Korea, Vietnam, were brought into the country at dumped prices. The Ministry of Investment, Trade and Industry (MITI) said in a statement that this preliminary determination in the anti-dumping duty investigation was made under Section 23 of the Countervailing and Anti-Dumping Duties Act 1993. "Therefore, the government has decided to impose a provisional anti-dumping duty, in the form of a bank guarantee, equivalent to the identified dumping margin in the preliminary determination, ranging from 3.86 per cent and 57.90 per cent on imports of the subject merchandise from China, South Korea, and Vietnam, to prevent further material injury to the domestic industry during the investigation. "The imposition of temporary anti-dumping duties will be effective for a period not exceeding 120 days, starting from July 7, 2025, and a final determination will be made on or before Nov 3, 2025," it said. According to MITI, the government initiated the anti-dumping investigation on Feb 6, and based on this preliminary determination, the investigation will proceed. The probe, conducted under the Countervailing and Anti-Dumping Duties Regulations 1994, was initiated following a petition filed by CSC Steel Sdn Bhd. The petitioner, representing the local industry producing similar products, alleged that the subject goods originating from the China, South Korea, and Vietnam were imported into Malaysia at prices lower than those in their respective domestic markets, causing material injury to the Malaysian industry. However, MITI stressed that interested parties, including importers, producers, foreign exporters, or relevant associations, are invited to provide comments or views on the preliminary determination report. Submissions must be made no later than July 14, 2025. "Interested parties may obtain the non-confidential version of the Preliminary Determination report via the Trade Remedies Investigation Management (TRIMA) system at said MITI. - Bernama
The Star
2 hours ago
- The Star
Playing catch-up, carefully
AMID lingering geopolitical tensions and ongoing reciprocal tariff talks, analysts are approaching Malaysian equities with cautious optimism as the second half of 2025 (2H25) unfolds. The consensus is taking shape: liquidity remains healthy, valuations are turning attractive, and laggards may have room to catch up. Billed as RM9.73 for the 1st month then RM13.90 thereafters. RM12.33/month RM8.63/month Billed as RM103.60 for the 1st year then RM148 thereafters. Free Trial For new subscribers only
