Silicon Valley-based BootstrapLabs has just announced that they will be teaming up with Malaysia-based MAD Incubator to form BootstrapAccelerator Asia, a tech startup accelerator with a Southeast Asia focus. The program is a 50-50 split between BootstrapLabs and MAD Incubator.
BootstrapAccelerator will focus on early-stage capital efficient internet startups, which stand to receive cash grants and other perks valued at over US$35,000. In return, BootstrapAccelerator will acquire a small stake in their company.
Other than the funding and mentoring, the most promising teams will be able to take part in BootstrapLabs’ Silicon Valley Fast Track™, with the chance to relocate to Silicon Valley. The initiative is supported by the Malaysian Multimedia Development Corporation (MDec).
Interested startups can apply to the accelerator program by May 30. So how do you know if you are eligible to apply? Ben Levy, the partner of BootstrapLabs told us that as long as you are a internet startup, you can apply for the program, regardless of which industry you are in. You can either be in your ideation stage or at your incubation or growth stage. All selected startups will be based out of the MAD Incubator facility in Kuala Lumpur. Unlike other accelerator programs, there will not be a “Demo Day” for BootstrapAccelerator Asia.
Earlier last month, Malaysia media group The Star also launched a US6.59 million dollar fund to invest in Malaysia startups. On top of that, Founder Institute just launched their new chapter in Kuala Lumpur earlier this year to help nurture new startups. With the new BootstrapAccelerator Asia, there is now an opportunity for Malaysia startups to access Silicon Valley. The Malaysia ecosystem is definitely shaping up.
If you are interested to apply, you can head over to their website and apply before the deadline on 30th of May.