Programme

Global Accelerator Programme

GAP FAQ

General

A programme to accelerate startups from all over the world, with an interest to expand their business in the ASEAN region, to be investment-ready in 4 months. GAP also aims to build a strong ASEAN startup community by cultivating ASEAN relationships.

We are looking for startups that have validated their ideas or launched a product/prototype with some traction, and have the potential to scale in the ASEAN region. Ideal startups would be less than 3 years old and focusing on the ASEAN market.

We are looking for strong teams with diverse skill sets; although we may also accept single cofounders by exception. Each team in the accelerator shall consist of between one (1) to two (2) co-founders. All participants must be aged 18 years old and above.

The ASEAN community is currently the 3rd largest market with a population of almost 650 million (larger than the European Union or North America) and the 5th largest economy in the world. The accelerator programme aims to bring down the borders in the ASEAN startup ecosystem and work together to capitalise on ASEAN’s growth story. By joining forces, we also aim to create a large cluster of startups for investors seeking access to regional deal flow.

The programme will prepare you with the knowledge and relationships to scale in the ASEAN region. Startups will learn from world-class mentors with weekly themes and gain access to regional investors and route-to-market partners. In addition, MaGIC covers your travel and living expenses to attend the programme.

Startups are required to commit to the programme on a full-time basis for the entire 4 months. Classes and workshops will be conducted on Monday and Tuesday (Sometimes Wednesday) while startups will have the rest of the week free to work on their business as needed. As part of the programme, startups are also required to participate in some social impact activities such as helping out early stage social enterprises or conducting entrepreneurship-related outreach activities within Malaysia. Ultimately, the core focus of the programme is for you to build relationships, work on your startup and achieve your milestones.

GAP is a programme designed for dedicated teams who are fully focused on their startups and not for part time founders or freelancers. Teams must be fully committed and work out of the MaGIC campus for the 4 months. The programme works on the basis of a strong cohort community. In order to fully accelerate, teams are required to attend and participate in some core classes, workshops, events and discussions. Nevertheless, startups will have some flexibility when it comes to attendance for non-core sessions as we understand the nature of running a startup and the importance of building your business.

No, however social enterprises are encouraged to apply for the Global Accelerator Programme as one of our verticals is “Social Innovation / Enterprise”. The aim of this track is to guide startups on how to accelerate their growth while creating a lasting impact on our community or environment.

The Global Accelerator Programme is a government-funded initiative to create a critical mass of up to 80 high-growth startups in Malaysia for the ASEAN region, once a year.

MaGIC has access to local, regional and global investors and can act as the platform to match startups with potential sources of funding. We also have investors committed as programme mentors and top startups will have the opportunity to pitch to investors during Demo Day.

The programme is approximately four months long.

Yes, the programme participants (preferably all founders) must move to Malaysia for the duration of the programme but other employees of your startup are not required to relocate.

MaGIC does not invest or take any equity in the startups.

No, you are not required to set up a company in Malaysia.

Mentor engagement will run organically and depend on mentor’s availability. Different mentors will come in to give talks every week — this is your chance to hustle and approach the ones you feel are relevant for your startup. Mentors will also allocate a set number of hours per week to meet startups either online or in person.

You will retain any IP rights associated with your startup and your prototype.

Yes, the programme will wrap up with a Demo Day where you will pitch to investors.

There is no direct PR support. However, startups may potentially get highlighted in local/regional press.

Our focus is on growing the startup ecosystem by creating startups that are investment-ready. A key measure of success is how many startups go on to raise private capital.

The schedule is not available publicly but you will receive it during orientation.

Your whole team is required to be present at MaGIC for the bi weekly check-ins with Account Managers for progress updates. GAP talks and workshops takes place on Mondays and Tuesdays (sometimes Wednesdays). You will be free for the rest of the week to work on your startup.

If you notify us before the deadline, you will be able to fill up the request form to add/replace team members. Once that has been submitted to us, we will review it and will notify you once the decision is made.

We will send you new offer letters. Fill those up and attach it under its respective fields on Accelerator Tracking & Application System (“ATAS”).

No, participants are required to submit all documents on ATAS. Note: Unless there are issues uploading that cannot be resolved.

Application

Kindly submit your applications at http://atasbe.mymagic.my/

Applications for the June 2018 intake are open from 5th Feb – 26th March 2018.

The programme is open to all nationalities.

No, as we do not consider consulting companies scalable startups.

Thank you! If your startup is shortlisted, MaGIC will invite you to pitch at MaGIC Cyberjaya during the fourth week of April . We will make special arrangements for applicants who are not based in Malaysia to pitch via video conference.

MaGIC aims to notify all applicants on the status of their applications by 26th of April 2018.

Yes, you will receive a notification. You can focus on gaining more validation and traction and apply again for the next cohort.

Please refer to the online application form on our website. The application will require information about your startup and your team along with a pitch deck and application video.

If you did not receive any calls from us, that would mean that the judges did not have any questions for you after watching your pitch video and going through your pitch deck.

No, it is a requirement to record a 90 second video to be uploaded on Youtube and share the link on ATAS as part of the application.

Onboarding

MaGIC will provide co-working space at MaGIC’s building in Cyberjaya for the entire duration of the programme.

MaGIC will provide each participant a fixed living allowance of RM1,000 per month over the course of four months.

MaGIC will provide free accommodation in Cyberjaya for all participants on a twin-sharing basis. However, participants may choose to opt-out if they already have their own accommodation arrangements. MaGIC will not provide reimbursements for any other forms of accommodation. Click here to view accommodation : DASHBOX

You are required to purchase your own flight ticket to Malaysia. MaGIC will reimburse the cost of your return flight ticket up to a maximum of RM 1,000 per participant for International flights and up to RM 500 for flights from Sabah/Sarawak.

MaGIC will assist you with the process of applying for a 6-month Professional Visit Pass to participate in the accelerator programme.

Insurance will not be provided and as such MaGIC strongly advises all participants to purchase an insurance.

The GAP team will be available to answer all queries via gap.team@mymagic.my. You can also reach out to your Account Managers after you receive your platoon assignment.

Accommodation will be available 2 days prior to the programme start date but you will need to check-out by the date set by the programme. Working space at the GAP Space is available for you to use before and after the programme.

On the general main page on ATAS, there is a section on your pre-arrival form. If there is a time-stamp, you have successfully submitted.

We will be prioritising the shared rooms based on gender and startups. We will try our best to keep team members to share the same room when possible.

Others

Thank you for your interest. Kindly email gap.team@mymagic.my and our team will get back to you.

Thank you for your interest. Kindly email gap.team@mymagic.my and our team will get back to you.