It is well known that Malaysia is equipped with the talent to build effective startups, but it is often said that there is a lack of support to scale their businesses. They want to move abroad in search of better funding, guidance and more receptive customers.
Therefore, to enable local startups to develop their skills while creating an unparalleled network that supports economic growth, the Selangor Accelerator Program (SAP) was established.
SAP is a talent nurturing program started by Selangor Information Technology & Digital Economy Corporation (Sidec) as ASEAN’s digital hub.
The Accelerator is now in its fifth group and has announced its Top Five Winners for 2022. These startups were also awarded a collective cash prize of RM50,000 during their Referral Day. It is held on September 17th.
With the theme “Net Zero, Sustainability and Circular Economy”, SAP 2022 received a total of 225 applications from sectors including agritech, greentech, smart city, fintech and healthtech.
Among those applications, here are the five startups that won the jury’s approval.
Entomal Biotech (Entomal) is a Malaysian biotech startup that uses black soldier flies (BSF) to create a circular economy. It also manufactures BSF-based food products to alleviate global demand for animal feed.
In terms of circular economy, Entomal uses the regenerative functions of BSF larvae as a sustainable treatment option for waste management.
Here, black soldier fly larvae are fed biological waste, such as kitchen scraps, producers or crops, so that they can be decomposed in a safe and environmentally efficient manner. . The excreta from the larvae also acts as a natural fertilizer for the soil due to its rich organic matter.
Additionally, Entomal is taking initiatives to reduce consumption of ocean proteins (such as fish) in the pet industry, which contributes to overfishing. The team produced pet food based on BSF larvae, which are said to be rich in protein and essential nutrients for animals.
If Entomal’s plans work as intended, biowaste will leave a smaller carbon footprint on the planet through the operation of BSF, while adding an alternative to the real food supply chain. Products.
Calling itself the ‘CFO in the box’, Swipey streamlines and simplifies SME’s digital business on a single dashboard, while providing them with innovative solutions. Easy payment and expense management.
Founded in 2021, fintech SaaS also issues Business Visa cards so employees can keep business expenses separate from personal expenses. These transactions will then be recorded on Swipey’s centralized dashboard for companies to transparently manage expenses and track their budgets.
On a larger scale, Swipey wants to build customer-centric digital banking services for Southeast Asia’s modern underserved SMEs.
Diet Ideas is a health technology nutrition startup that helps its clients improve quality of life through technology and consulting.
Using data obtained from DNA and blood tests, Diet Ideas nutrition interventions can be more precise and personalized by detecting possible medical problems in their clients.
Diet Ideas also offers home visits or virtual consultations so customers can confide in the company’s nutritionists and nutritionists without having to leave their homes.
In addition, the start-up’s team of nutritionists operates on a closely watched schedule to make sure clients stick to the advice they’ve been given, or to help them switch their eating plans. abstain.
Founded in 2019, the health tech startup has also built two in-house brands:
- KAKAN: Diabetic-friendly biscuits, and
- KIDS LITTLE TUMMY: A lifestyle brand for babies and toddlers.
To move closer to its goal of revolutionizing diet and nutrition in Malaysia, the startup has made its brand more fun and lively for the third year.
The purpose behind this change is to make healthcare fun and alive, making it more accessible to the masses.
Blue Duck Tech (BlueDuck) is a licensed insurance agency in Malaysia that deals with Zero Deposit Insurance to ease the rental hassles of landlords, sublessors and tenants.
Its Zero Deposit solution is designed to replace the traditional security deposits that come with rental properties. BlueDuck offers homeowners two months of insurance against rental losses, unpaid utilities, and malicious damages.
The startup is equipped with a direct debit service that allows landlords to automatically collect monthly rental fees. Reminders will also be sent to tenants when rent is not received on time.
By providing adequate protection for landlords and sublessors, BlueDuck hopes this will motivate them to lease out their properties to a larger group of interested tenants.
Founded in 2016, Capsphere is a P2P asset-based funding platform in Malaysia that matches SMEs in need of funding with investors looking to diversify their portfolios. surname.
Licensed by the Securities and Exchange Commission of Malaysia, Capsphere sets itself apart by ensuring that every loan is secured by assets. These assets can include real estate, medical devices, digital servers, etc., and will be used as collateral as an additional safeguard for investors.
SMEs that can provide these additional measures will be financed at a lower interest rate (6%-18%/year). It also gives investors confidence to support businesses they believe in.
Capsphere announced in mid-2022 that it will provide Shariah-compliant financial solutions to capture the Islamic market.
These efforts appear to align with Capsphere’s larger mission of making business finance more accessible and efficient.
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The top five winners of SAP 2022 received a cash prize of RM10,000 each, and $5,000 worth of Amazon Web Services (AWS) credits (approximately RM22,747.50).
These winners also have the opportunity to advertise seeking investment opportunities with a number of SAP 2022 strategic partners. Overall, these can be moved to further develop and enhance their business. surname.
Congratulations to this year of Malaysian startups!
- Learn more about the Selangor Accelerator Program here.
- Read about other Malaysian startups here.
Featured image credit: Selangor Accelerator Program (SAP) 2022