In early 2019, we realised there was a gap in the Malaysian startup ecosystem. Many startups were unable to get beyond ideation and initial product market fit to the next stage of growth. We realised immediately that we needed to help these companies. So in October 2019, ScaleUp Malaysia was born.
As an Accelerator, our focus is not just on helping companies raise their next round. Our philosophy is in building businesses that have high revenue growth and a path to profitability - we call this the Pegasus model.
We want to invest our time, experience and money in Malaysian scaleups poised for growth and regional expansion. We will work side by side with these companies to develop the right strategy and model and then start curating investors and partners for the companies to secure their next round of funding to execute those plans. We are your invisible management team, your potential investors and your partners on this journey.
Meet some of our Pegasus companies - companies that focus on building the right fundamentals are able to thrive in the best of times, and weather any storms that may come in the worst of times. If the Pegasus philosophy resonates with you, then we would love to work with you too. ScaleUp aims to help 100 of these companies through our programme and invest in 50 by 2022.
Our learnings through ScaleUp Malaysia Accelerator started from the very first time we pitched to them. The mentors pointed out things to us about our business that definitely caught us off-guard. We took their suggestions, started implementing them and a month later, we started seeing revenue growth. We have since recorded our highest revenue yet.
ScaleUp isn't your typical Accelerator programme. The coaches here are actually very hands-on. They don't take a one size fits all approach. They really take their time to individually dissect our issues, challenges and roadblocks and then provide advice tailored to what our business actually needs.
FOUNDER & CEO, HOMA
We have always been thinking of growing regionally. What caught us off-guard was when the mentors asked us "Why are you thinking so small? Why isn't your goal to go global?" That was what sparked us to change the way we think about the way we were doing this in the company, the way we viewed our business, and also shifted our vision for the company.
FOUNDER & CEO, HAUZ
The mentors are what makes ScaleUp Malaysia Accelerator. They were very objective in helping me grow my business. My advice to those applying for Cohort 3 is to not expect the mentors to spoon feed you. Put in the effort and they will open your eyes to a lot more possibilities.
We have no prior startup experience so being part of the ScaleUp Malaysia Accelerator really did open our eyes and gave us the necessary support in order to grow. It brought a lot of structure as to what was required for our business to scale. It was intense - like getting an MBA in 3 months!
The 3 months was truly a transformational journey. It changed the way we communicated in the team and how we communicated to customers as well. It made us view the business through different lenses- investor, customer and founder lenses for us to better understand our business.
FOUNDER & CTO, RECQA