About the programme
8 things you need to know
Up to 24 shortlisted companies
2 months intensive deep business analysis, coaching & networking
1 month investor readiness bootcamp to prepare you for fund-raising
Up to 12 companies selected for RM250K investment from Quest
24 months support from an external Management Team (CTO, CFO, CMO, 2 CSO (that's Chief Strategy Officers!))
Access to Quests’ team and networks for advice and potential follow-on investment
Network of Founders who have scaled their businesses globally
Introductions and Demo Day to curated Investors
What's Special About This Cohort
Quest Ventures Cohort 2
ScaleUp Malaysia’s Accelerator is unique. We have combined the best of two worlds providing not just an Accelerator Program but also post-investment support. We also believe that selection for investment should not be rushed. So, even though the target investment is for up to 12 companies, we shortlist twice that number so that we have time to understand your true potential. We take the time to get to know the founders and the business before investment decisions are made. During this time, we will help you identify gaps, propose solutions and help you craft your strategy and story. Our objective is to create impact not just to you but also the Malaysian Startup Ecosystem so that even if you don’t receive investment from our investors, we will help you become investment ready.
Our investment partner for Cohort 2 is Quest Ventures. They are a leading venture fund for companies that have scalability and replicability in large internet communities. Their portfolio of 50+ venture-backed companies operate in more than 150 cities across Asia, creating employment and advancement opportunities for more than 4,400 employees, while their Enterprise and ESG efforts directly impact thousands more.
During the MCO, the ScaleUp Malaysia and Quest teams worked on our shared vision to craft a program that would leverage on both our strengths to help companies in Malaysia grow and scale by providing a combination of funding, coaching, access to new markets in the region and globally via our combined strengths and experience.
Who Should Apply
Criteria for Application
Companies that can demonstrate product-market fit
Companies already generating revenue
Companies looking to raise funding in the near future
Passionate and driven founder(s)
The Scaleup Team
Meet the core team behind Scaleup Malaysia
Goh Yiping is a Partner for Fund II Asia at Quest Ventures, a leading venture fund for technology companies that have scalability and replicability in large internet communities. Prior to this, Yiping was Co-Founder and Chief Product Officer of MatahariMall.com, the largest omnichannel fashion ecommerce site in Indonesia backed by the Lippo Group. Lippo Group also acquired All Deals Asia, the Southeast Asia ecommerce aggregator and group-buying platform co-founded by Yiping.
James Tan is Managing Partner at Quest Ventures, a leading venture fund for technology companies that have scalability and replicability in large internet communities. Prior to this, James was co-founder and COO of 55tuan, a NASDAQ listed e-commerce group that grew to more than 200 cities and 5,000 employees across China.
Jeffrey Seah is a Partner for Fund II Asia at Quest Ventures, a leading venture fund for technology companies that have scalability and replicability in large internet communities. Prior to this, Jeffrey co-founded a transformation advisory partnership with services in go-to-market, corporate venture capital, digital transformation and corporate reorganization strategy & implementation for Asia-based MNCs. Before that, Jeffrey was CEO, Southeast Asia and Chair, Asia Digital Leadership Team of Starcom MediaVest Group (SMG).
Frequently asked questions
We are a startup that hasn’t launched our product yet, are we your target company?
Unfortunately no. We are a Scaleup Accelerator. Our target segment is high growth companies with proven revenues and the potential for 100% year-on-year growth over the next 1-5 years.
We are currently in another Accelerator program. Can we still apply?
Yes that’s possible but we will have to consider the applications on a case by case basis. We believe that founders need to focus and should not juggle their time between running a business and multiple accelerators. Different Accelerators provide you with different value. Scaleup Malaysia works with companies to prepare for growth, scalability and follow-on funding, not with initial product-market fit or idea validation.
We don’t really need the money. Does it still make sense to apply?
The funds provided as investment is only a small part of what ScaleUp Malaysia provides. The money we invest will help fuel traction and revenue for subsequent rounds.
You will also have access to a network of successful founders who have scaled their businesses globally and who can provide insights into markets and investment opportunities.
Do you only fund companies in a particular field/industry?
No, we will consider companies in any field/industry provided there is use and/or leverage of technology for growth and the business has the potential to scale regionally.
We’ve already raised funding - can we still apply?
Yes. If you want better fund optimisation and achieve higher valuations when you raise your next round, then you should apply. However, we do take equity so you will need your investor’s approval if you are accepted into the program.
How much do you invest?
Each company will receive an investment of RM250k. We help you identify key areas that need to be optimised and provide you with the investment to help you plug these gaps. The primary goal of our investment is to help you grow your revenues so that you can achieve higher valuations for your follow-on rounds.
Some Accelerator programmes do not take equity funding. Do I need to give up equity to join this Accelerator?
Yes. We take equity to have skin in the game. Both Quest and ScaleUp Malaysia teams will provide access to expertise and networks to support you for 24 months. We have assembled professionals who are experts in their field to help you craft and execute your growth plans. You will also gain access to a curated network of investors for follow on rounds.
Do I automatically get Quest follow-on funding if I join the Accelerator?
Follow on funding is not automatic but you will definitely be a fore-runner because both Quest and ScaleUp Malaysia teams will be working with you throughout the programme to better understand your business and vision.