Cradle Fund Sdn Bhd’s MYStartup Accelerator programme has channelled close to RM5.5 million into local startups across five cohorts, reinforcing its strategic role in nurturing Malaysia’s innovation landscape and supporting the nation’s ambitions to emerge as a regional technology leader.
In a recent statement, Cradle confirmed that the initiative, which falls under the Ministry of Science, Technology and Innovation (MOSTI), is jointly managed with NEXEA, a venture capital and startup accelerator firm. Since inception, the programme has focused on accelerating the growth of promising startups, providing both capital and mentorship to early-stage enterprises.
“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 Cradle’s Group Chief Executive Officer, Norman Matthieu Vanhaecke.
During the Cohort 5 Demo Day, startups showcased a range of innovative solutions spanning artificial intelligence (AI), aquaculture, electric vehicle (EV) infrastructure, and smart retail. From a competitive pool of 747 applicants, eight finalists were shortlisted. Of these, five were awarded cash prizes by Cradle, while four secured a combined RM800,000 in investment from NEXEA.
Standout participants included Paix Tech, which leverages AI to automate enterprise utility payments; Ocean Rich Resources, a company specialising in scalable oyster farming systems; and Recharge Xolutions, which develops integrated EV charging and green energy solutions.
Cradle noted that the MYStartup Accelerator continues to play a critical role in driving a tech-forward future for Malaysia by enabling startups with bold, sustainable, and innovative propositions.
NEXEA, recognised for its extensive mentor network comprising accomplished entrepreneurs and C-suite executives, has been instrumental in scaling its portfolio companies—some of which have recorded annual growth of up to 16 times.
Cradle, as the government’s key agency for early-stage startups, has supported over 1,100 tech-based ventures to date and maintains the highest commercialisation rate among grant providers in the public sector.
-Bernama
