Programme

IDEA Accelerator

IDEA Accelerator FAQ

General

A six weeks accelerator program intended to get participants to be impact driven in terms of solving social and environment problems with the use of scalable business models.

Impact Driven Enterprises are organisations (either for-profit or non-profit) that proactively create positive social or environmental impact wth the aim to be financially sustainable over the long term.

  • Have a clear vision and mission for their Impact Driven Enterprise idea to be piloted and executed
  • Have a business plan which covers the entirety of the Impact Driven Enterprise’s idea, such as business concept, business model as well as financial model
  • Have a work plan to execute the implementation of the business plan for piloting
  • Each enterprise is expected to identify its impact area(s) as per the 5 accelerator themes and its measurement metric
  • Each team can consist of between one (1) to three (3) full-time participants: at least one founder and up to two other co-founders or team members
  • All participants must be above 18 years old
  • All participants must be Malaysian citizen
  • All participants must attend the full-time program at MaGIC Cyberjaya for the full duration of the 6 weeks program
  1. Visit the MaGIC IDEA Accelerator webpage – https://mymagic.my/idea-accelerator
  2. Click on the “Apply now” button
  3. Click “Create Application” and select the drop-down option “IDE (MIA-01)”
  4. Submit your application and be a part of the Impact-Driven community!

No application or programme fee is charged.

The MaGIC IDEA accelerator is structured on a build, validate learn cycle that requires participants to refine and develop their ideas into a practical and implementable businesses that are impact driven. The structure will be based on 5 themes and the 5 top solutions would be selected per theme.

Yes. At the end of the program, enterprises will present to a selection of panelist to be accredited under Impact Driven Enterprises Accreditation (IDEA) which opens opportunities for social procurement from our network of impact partners.

To create more Impact Driven Enterprises to build and grow the impact sector through entrepreneurial led solutions that are sustainable and effective.

  1. Employment for the marginalised
    The aim of this theme is to develop impact driven enterprises that aim to provide employment to groups/individuals that are currently overlooked or being marginalised. This could include provision of employment opportunities to the differently abled, struggling single mothers and etc.
  2. Equality & empowerment
    The aim of this theme is to develop impact driven enterprises that aim to provide proposals on provision of services that enable equal access to necessary services such as quality healthcare, drinking water, housing and etc to groups that may not enjoy have equal access. Or proposals may also be submitted on the theme of equal opportunity.
  3. Pollution & waste management
    This theme is in relation to the environment. Proposals may be submitted that fall under the theme of better waste management, recycling or upcycling resources or optimizing resource utilisation that would lead to a reduction in pollution.
  4. Income/productivity growth
    This theme is in relation to develop impact driven enterprises that aim to address issues concerning the bottom 40% of the Malaysian social pyramid or the B40. Proposals submitted should be enterprising solutions that are directly addressing the needs of the B40 to elevate their current status.
  5. Community Development
    Under the theme of community development proposals should be submit in relation to enterprising models that creates welfare opportunities for peoples living in specific areas. An example of community development projects is the development of education programs/skill-building programmes for the orang asli community.

Unfortunately, one of the criteria to apply for the programme is to be a Malaysian enterprise.

Each team can consist of between one (1) to three (3) full-time participants: at least one founder and up to two other co-founders or team members

This accelerator will be for a duration of 6 weeks with 2 training days per week and 3 days of project execution. Compulsary classes sessions would be conducted on Monday and Thursday in MaGIC Cyberjaya, unless informed otherwise.

Industry mentors would be assigned to each team to shorten learning curves. Meetings between mentors and enterprise will be determined by agreement by both parties.