Cradle Fund MYStartup Pre-Accelerator’s Cohort 1 Prime 5 startups

MYStartup, a challenge developed by Cradle Fund, has introduced the Prime 5 qualifiers from the first-ever cohort below its pre-accelerator programme which resulted in September.

This pre-accelerator is designed for early-stage startups looking for to validate their concepts and enterprise fashions.

For its first cohort, 37 startups had been chosen to have direct entry to native and worldwide mentors, assets, and market publicity with prolonged post-programme and funding alternatives.

Out of these 37 startups, 5 have emerged as the highest qualifiers. In keeping with a video by MYStartup, the highest 5 will participate in a Cradle Fund-sponsored abroad immersion programme in addition to take part in part two of its startup acceleration programme.

Listed below are these prime 5 startups which have been chosen from Cohort 1 of the inaugural MYStartup Pre-Accelerator.  

1. Luwjistik

A software-as-a-service firm, Luwjistik is a platform that connects purchasers within the logistics trade to numerous world community companions.

Via Luwjistik, logistic firms can design their cross-border ecommerce provide chain simply, mixing and matching varied community companions to the totally different nodes within the provide chain.

Luwjistik is co-founder and CEO Syed Ali Ridha Madihid’s third startup, although it’s his first one in Malaysia.

Understanding the worth of networking, the entrepreneur determined to hitch MYStartup’s pre-accelerator programme to embrace Malaysia’s vibrant startup ecosystem.

“I strongly consider the most important profit was the networking amongst startups and in addition mentors, which permits us to share our challenges, alternate concepts and share experiences and options,” Ali stated.  

Whereas present process the programme, Luwjistic secured an acquisition by Australian logistics firm Shippit for US$11.3 million.

“We at the moment are centered on integration work and are wanting ahead to contributing to an energetic ecosystem in Malaysia,” Ali stated.

2. Sayur Kita Asia

An agrotech startup, Sayur Kita Asia goals to assist the expansion of Southeast Asian agropreneurs by offering a web-based interactive internet platform that provides agri-courses. Presently, the one out there course is the hydroponics course.

The startup additionally goals to provide customers entry to contemporary and reasonably priced greens through its web site.

Naviin Thiaga, the founder and CEO of Sayur Kita Asia, shared that the first aim of his startup is to create a brand new technology of high quality agropreneurs in Malaysia.

On prime of that, the startup additionally goals to raise and put money into the individuals from the B40 group to make a further revenue for themselves via rising and promoting produce through its platform.

The startup’s core focus aligns with why Naviin joined the pre-accelerator programme—for the group.

“There’s a saying ‘if you wish to go quick, go alone; if you wish to go far, go collectively’,” Naviin quoted. “To construct a revolutionary enterprise with an enormous objective as its mission shouldn’t be that straightforward that it may be achieved alone.”

True to his expectations, Naviin stated he has been capable of achieve group assist via the programme. In keeping with him, everybody concerned, from mentors to friends to ecosystem builders, was prepared to assist at a second’s discover.

3. Bytespace

Based mostly in Petaling Jaya, software program firm Bytespace provides IT options to all enterprise market segments, from startups to enterprises.

In keeping with its web site, Bytespace provides options equivalent to utility improvement and customisation, web site design and improvement, content material administration methods, and cellular purposes.

Furthermore, it at present provides two merchandise—Steve and Secure G. Steve is a complete end-to-end answer that digitalises port and logistics operations companies. In the meantime, Secure G is an easy and complex safety answer.

In keeping with Suresh Chidambareswaran, the CEO of the corporate, Bytespace joined the programme as they noticed a must validate its individuals, course of, and product verticals.

He believes that MYStartup has helped Bytespace with that. Aside from that, he shared that via the programme, the startup was capable of be taught concerning the energy of social media and the significance of pivoting.

“Don’t be afraid to pivot,” Suresh stated. “Take calculated dangers and do it if the chance is manageable.”

4. Loop Meals

A purveyor of wholesome and reasonably priced consuming, Loop Meals is a farm-to-table on-line restaurant. It sources its produce instantly from farmers and supplies free supply to prospects’ doorsteps. Manufacturers below Loop Meals embrace SpargoEats.

Nicholas Ou, the co-founder and CEO of Loop Meals, believes that specializing in affect is crucial with the pre-accelerator programme. “The remainder is fluff,” he stated.

To him, founders could find yourself getting romantic with their options. However as an alternative of that, it’s extra smart to validate with customers and construct a minimal viable product.

After going via this programme, Loop Meals is now seeking to pilot its company workforce lunch app with Cradle Fund and Beyond4’s company community. The startup additionally shared that it’s seeking to increase its seed spherical.

5. Materials in Works

Based by packaging materials specialists, Materials in Works (MIW) has developed a remedy course of that recovers cellulose to be processed again into uncooked materials for paper product producers, thus stopping the waste from ending up in landfills.

As defined by John Ooi, the co-founder of MIW, its remedy course of is mutually useful for the setting and the paper trade, as the worth and availability of uncooked supplies are main considerations of the trade gamers.

In keeping with John, MIW aspires to guide within the “industrial symbiosis programme”, which explains why it joined MYStartup’s programme.

Industrial symbiosis is a course of whereby wastes or byproducts of an trade turn out to be the uncooked supplies for an additional. This helps contribute in direction of the creation of a round financial system.

“Our very first challenge is piloting upcycling options to deal with label packaging waste in Malaysia,” John defined.

There are three specific beneficiaries of MIW’s efforts. This consists of label packaging stakeholders, the B40 group members who’re residing close to landfill websites, and the setting at massive.

One factor particularly that the workforce discovered useful was the one-to-one biweekly name with a mentor who comes from a VC background.

“We discovered the monetary modelling and valuation course to be very sensible for us, notably earlier than establishing our pilot plant,” John shared.

After the programme, MIW introduced that it has secured its seed funding, and as such is aiming to arrange a one-tonne capability pilot plant.

Recommendation primarily based on expertise

Following Cohort 1’s conclusion, MYStartup has already introduced Cohort 2 of its pre-accelerator programme. In keeping with a press launch, the brand new batch has acquired a complete of 126 purposes, with 38 early-stage startups making the minimize to endure the six-month coaching programme.

Luwjistik’s Ali inspired Cohort 2 to embrace the expertise and to remember the fact that there is no such thing as a such factor as a foolish query.

“To maximise the programme, I strongly encourage energetic participation, particularly asking questions and interesting with the respective mentors,” he shared.

The one factor Naviin needs Cohort 2 startups to ask themselves is: “Have you learnt what you don’t know?”