The startups encapsulate a diverse group covering areas such as retail analytics, wearable tech, proximity marketing, etc.
The third batch of 1337 Accelerator startups have arrived. After early success with its first two batches — which yielded 10 successful startups — the third batch is focused on a diverse group covering some of the most exciting and innovative areas such as retail analytics, indoor positioning systems, wearable tech, proximity marketing, etc.
This year, the teams will also have access to premium events and demo days in locations across the SEA ecosystem such as Echelon.
The five startups participating, in no particular order, are:
Visual Math: An app focused on combining traditional approach of math instruction with innovative visual graphics and interactive animations to reinforce learning.
ONz: An application focused on building recreational sporting communities through simplified venue bookings, socialised team and player interactions and sporting analytics.
Tide Analytics: A marketing optimisation platform leveraging the latest in proximity marketing technology with highly visual insight for building real-time consumer engagement.
Warybee: A fashionable and wearable technology for personal safety acting as your discrete guardian angel.
Baucar: A smart hyperlocal advertising app which leverages iBeacon technology to enable proximity marketing, contact-less payment, check-in coupons, and allows merchants to track sales and promote loyalty points.
1337 Accelerator is a rigorous 12-week program that provides startups with access to venture and business networks, personalised mentoring, initial capital of up to RM50,000 (US$15297.55) and co-working space to jump-start their young ventures.
After receiving over 150 applications, only five teams have been selected to participate in the programme that began on April 1. It is based in the recently renovated Malaysian Global Innovation and Creativity Centre (MaGIC).
A demo day is planned at the end of the three months to secure additional funding or 1337 Ventures may choose to extend certain teams for another three months with its own funding.
Uniquely, 1337 Acccelerator does not take any equity from the incubators as of yet, instead it receives a 30 per cent revenue share for the first two years from any intellectual property generated from the programme.
Some familiar and new faces to the 1337 mentorship team are looking forward to groom the young startups. They include Bikesh Lakmichand, CEO, 1337 Ventures; Serb Jodha, Advisor and Investor focused on Southeast Asia; and Joann Soon, Creative Mentor, 1337 Ventures. The newest addition to the mentor team is Athi Niskkalanwho who does business development for 1337 Ventures where he looks into the development of the venture capital through deal flows, growth funds and mentoring of ventures.