27 July 2021, Shah Alam – 30 talented startups have been selected for the Fourth Selangor Accelerator Programme (SAP).
Officiated by Dato’ Teng Chang Khim, Selangor executive councillor for Industry and Trade today, the opening ceremony was held virtually due to the Covid-19 pandemic and in regard to the safety and health of all attendees.
30 out of 165 submissions were carefully selected to take part in the SAP with this year’s focus on five major pillars: Agritech, Fintech, Greentech, e-Commerce and Smart City Solutions (Proptech, Mobility & Logistics).
The top 30 startups of SAP 2021 are:
- Arleta Tech Sdn Bhd
- Boss Boleh Sdn Bhd
- Bukit Bunga Dinamik Sdn Bhd
- Deepagi Enterprise
- Duittech International Sdn Bhd
- EdaBeran Group Sdn Bhd
- Emerging Payments Sdn Bhd
- EMLAB Sdn Bhd
- Geomax Rubber Innovative Products Sdn Bhd
- GFI Fintech Sdn Bhd
- Glyde Sdn Bhd
- Golink Sdn Bhd
- Inonity Sdn Bhd
- Irritec Sdn Bhd
- IX Ventura Tech Sdn Bhd
- Kewdoo Sdn Bhd
- LandMiles Mobile Sdn Bhd
- Leapmove Technology Sdn Bhd
- Mrseasy Online Sdn Bhd
- My Protech Sdn Bhd
- NexMind AI Sdn Bhd
- Open Kloud Sdn Bhd
- Renewcell (M) Sdn Bhd
- SecurePay Sdn Bhd
- Tapkad Sdn Bhd
- Twentyfif Sdn Bhd
- Umorie Graphene Technologies Sdn Bhd
- Vessel Pro Sdn Bhd
- Xhinobi Studio
Nine of the startups offer e-commerce solutions followed by 6 startups whose focus is on Agritech, 6 more on Fintech while 5 more startups offer solutions in Greentech, 3 in Edutech and 1 in Proptech (Smart City Solutions).
Of these Top 30 startups, only the Top 10 will be chosen to walk away with additional perks while the Top 5 will walk away from a cash prize pool worth RM50,000 as well as additional perks.
AFFIN BANK is the main sponsor in ensuring the success of SAP 2021.
Teng in his speech said that as a result of the Covid-19 pandemic, traditional brick and mortar companies have been hit hard by the lockdowns.
However, businesses related to Agritech, Fintech, Greentech, e-Commerce and Smart City are booming, he added.
“E-commerce, Fintech and Smart City solutions are especially relevant with the current pandemic to ensure that businesses continue to run while following the SOP.
“It is Selangor’s focus to recover the economy through digitalisation, adoption of tech in business operations, as well as ensuring food security.”
Selangor has successfully launched various series of digitalisation programmes such as four rounds of the Selangor E-Bazar campaign with a total funding of RM7 million.
The four E-Bazar campaigns managed to benefit almost 300,000 online merchants and nurtured 75,000 new online merchants, generating direct sales of RM145 million, and creating a RM2.95 billion ripple effect to the economy of Selangor. The tremendous growth is a testament that e-Commerce and digitalisation is booming in Selangor.
The Selangor government also continues to uplift SMEs by initiating the Selangor SME Digitalisation Matching Grant to assist SMEs to take the first step to digitalise their businesses. The initiative is expected to benefit 1,000 Selangor SMEs with an initial grant worth a total of RM5 million.
“For the first batch, we have managed to disburse RM1.2 million to 280 SMEs out of 492 applicants. SMEs can start to apply for the second batch from 1 August to 31 October,” said Teng.
Lim Kee Yeong, Executive Director of Enterprise Banking, Affin Bank Berhad (AFFIN BANK), was also present during the virtual opening ceremony.
As the first commercial bank and main sponsor of SAP 2021, AFFIN BANK remains steadfast in its commitment to support SMEs, particularly startups. Since 2019, AFFIN BANK has proudly supported Sidec’s initiatives to propel Selangor into becoming the digital hub of Southeast Asia via various ground-breaking programmes.
“We applaud Sidec’s dedication in creating one of the top platforms that identifies and cultivates industry innovators. SAP is an excellent fast-track programme for innovative startups to gain valuable insights to fine-tune their business offerings while sharpening the core team’s soft skills and pitching style at a rapid rate to become investment-ready businesses in a short period of time,” said Lim.
He also highlighted AFFIN BANK’s commitment in becoming the “Bank of Choice” for startups through the bank’s comprehensive suite of inclusive products and services exclusively for startups, covering transactional, financing, protection, as well as advisory and support, to help them scale up and grow sustainably long-term domestically and regionally.
Meanwhile, Sidec Chief Executive Officer Yong Kai Ping said the agency’s focus is to address Selangor’s very own problem statements and the needs for solutions to provide the best facilities and assistance to the rakyat of Selangor.
“Hence, we are providing launchpads or beta testing facilities through a number of state subsidiaries.
“This will be a perfect avenue for these high potential startups to get their solution tested by real users in real environments, which is essential to prove their concept.
“For example, agritech startups will be channelled to relevant agriculture agencies to help them with testing in a real environment. Their solution might be picked up and adopted by the agencies in their operations,” he said.
SAP 2021 is supported by strategic partner RHL Ventures, Agrobank and The Hive Southeast Asia, one of the eight foreign venture capitalists and local partner of the Penjana Nasional Fund (PNF) matching programme.
The SAP is a structured three-month programme that aims to prepare 30 early-stage startups into becoming investment-ready businesses. The Top 5 startups might also stand a chance to receive investment.
Apart from the cash prizes, participants will receive guidance from well-versed mentors in the community and learn from comprehensive workshops and gain the necessary industry-related exposures.
The programme is presided over by a panel of judges, who contribute 70% of the judging score for participants of the programme. The other 30% of the scores include their performance and attendance for the aspects of the programme.
The SAP wishes to help participants in polishing not only their products and business, but their core team as well, through classes and mentors who will share knowledge, experience, and advice that will help the teams with their soft skills and pitching styles.
The programme also acts as a gateway for startups to prepare themselves for the final demo day on 11 September 2021 where they will get the chance to pitch to renowned venture capitalists, corporations and government agencies.
Previous cohorts of the SAP had 90 startups nurtured, with 43% of the 90 SAP participants receiving funding, which is considered a high success rate for startups.
Due to the Covid-19 situation, the programme – which will commence tomorrow from 28 July until 5 September 2021 – will be conducted online where participants will get their own dashboard for all the courses, webinars and mentoring sessions.
For more information, please visit www.sidec.com.my/sap2021.
SAP 2021 FAQ
a. Why is Sidec focusing on Agritech, Greentech, Smart City, Fintech and E- commerce for this year’s theme?
As a result of the Covid-19 pandemic, we have realised the importance of technology more than ever now. Technology enables us to connect with each other and helps to keep our lifestyle as ‘normal’ as possible.
The low touch economy created by the pandemic has created opportunities for startups to link people closer while maintaining social distancing. This is part of the current new norms.
Compared to traditional brick and mortar companies which have been hit hard by the lockdowns, businesses related to Agrotech, Fintech, Greentech, E-Commerce and Smart City are booming.
It is Selangor’s focus to recover the economy through digitalisation, adoption of tech in business operations, as well as ensuring food security.
b. How will assisting the startups that tackle the themes above help Malaysians to tide over the disruptions/difficulties caused by the pandemic?
During the pandemic, we realised everything went back to the basics and the essentials. Malaysians had to work from home, purchase things online, and some even grew their own vegetables due to disruptions to our food supply chain.
We hope to help these startups with disruptive solutions to grow and thrive through the pandemic. Likewise, we hope these startups with disruptive ideas will be able to help Malaysians cope with the new lifestyle in these unprecedented times.
c. When it comes to the mentors, how does Sidec choose the right mentor that can provide the right advice and guidance to the startups?
Mentors that we selected are experts in their own field, our participants are in the very early stage and we foresee they need help and guidance in every way they need.
Mentors will be their reference point at every checkpoint after each workshop that has been specially curated for them.
For example, after a Product Market Fit workshop, these startups are expected to work on their product market fit with the guidance of mentors with product market fit background.
d. Can you tell us what are some of the specific benefits that Sidec can provide to startups who join the accelerator that’s not present in other local accelerators?
As a state agency, our focus is to address Selangor’s very own problem statements and the needs for solutions to enable us to provide the best facilities and help to the rakyat of Selangor.
Hence, we are providing launchpads or beta testing facilities through a number of state subsidiaries. This will be a perfect avenue for these high potential startups to get their solution tested by real users in real environments, which is essential to prove their concept.
For example, Agritech startups will be channelled to relevant agriculture agencies to help them with testing in a real environment. Who knows the solution might be picked up by the agencies and will be adopted in their operations? We are definitely looking forward to these opportunities.
e. How many applications did you receive and what are the criteria that you take into consideration to get to the Top 30?
We received a total of 165 applications during the one month application process, and we filter them according to their industry and the stage of the business.
Like we mentioned before, the priority goes to the 5 industry pillars that we are focusing on and these startups must have MVP or have started selling their solution.
Competitions are stiff, and we were having a hard time shortlisting the 30 startups. These Top 30 participants are of high quality and high impact startups that we look forward to nurture and grow and our goal and objective is to get them to be investment-ready towards the end of the 3-month programme.
f. What is the marking system like for these Top 30 startups in order for them to compete and eventually get into the Top 5?
Throughout the 3-month programme, we have curated courses for the participants and after each course, they would need to update their progress to their dedicated mentor and go through pitching clinics. Their commitment and task during the programme will amount to 30% of the total marks, and the other 70% will be marked on their final demo day.