Partnership creates first Southeast Asia-focused accelerator for tech startups with a Silicon Valley Fast Track™
May 1, 2013, Seoul, Korea and San Francisco, California — Silicon Valley-based BootstrapLabs, and Malaysia-based MAD Incubator today announce the formation of BootstrapAccelerator Asia. As a Southeast Asia-focused Tech Startup Accelerator with a Silicon Valley Fast Track™ for its most promising candidates, this is a first.
MAD Incubator and BootstrapLabs share the philosophy of “Making a Difference” by empowering entrepreneurs to build global startups and believe that Southeast Asia will be a hotbed for disruptive startups in the future. Southeast Asia is the third-largest-growing economic zone in the world with a population of one billion and a market potential of US$ 30 trillion by 2020.
“What is developing in Southeast Asia is thrilling. MAD Incubator has been doing a fantastic job locally, educating, guiding and mentoring entrepreneurs and partnering with them to empower startups to grow into global companies makes them the perfect partner to achieve our joint vision,” said Nicolai Wadstrom, founder of BootstrapLabs.
Andrew Wong, CEO & Founder of MAD Incubator echoes these sentiments adding that “our partnership with BootstrapLabs creates a different offering than other Silicon Valley accelerators operating in Southeast Asia. By combining aspects of the local culture and disposition with Silicon Valley execution we are creating the accelerator model of the future.”
BootstrapAccelerator will focus on early-stage capital efficient startups that leverage the speed of internet distribution and the scalability of cloud infrastructure. Selected startups will receive a substantial package of cash grants and other perks valued at over US$35,000. Additionally, the most promising teams will take part in BootstrapLabs’ Silicon Valley Fast Track™, and even relocate to Silicon Valley.
“The Malaysian Multimedia Development Corporation (MDeC) will support this initiative in Malaysia, which will catalyze domestic ecosystem expansion to the world. We are thrilled to have BootstrapAccelerator operating out of Cyberjaya and will a range of support through various programs, into the future,” said Dr Karl Ng, Director of Innovation Capital of MDeC’s Innovation Capital Division.
In short, “BootstrapAccelerator Asia is designed to make a difference and is the first and only Accelerator of its kind in the region and possibly globally,” according to Benjamin Levy, Partner at BootstrapLabs, who will be speaking tomorrow at beLAUNCH conference in Seoul alongside Christine Tsai of 500Startups, Bernard Moon of SparkLabs, and David Lee of Kstartup.
Startups can apply at http://bootstrapaccelerator.com/apply/. First enrollment will start July 2, 2013 with a May 30, 2013 application deadline.
About BootstrapAccelerator Asia: BootstrapAccelerator focuses on early-stage capital efficient software startups that leverage the speed of internet distribution and the scalability of cloud infrastructure, regardless of their vertical or segment. BootstrapAccelerator brings together a Glocal (Global+Local) network of corporates, mentors and investors, as well as local government agencies, which bring critical support in everything, from ideation to executing game changing startups.
BootstrapAccelerator is a 12-month program, divided into three stages: Ideation, Incubation and Acceleration. As every startup is different, BootstrapAccelerator will not run cohorts, but will evaluate applicants on a monthly basis and enroll people / startups at the relevant stage. BootstrapLabs is able to offer the most promising startups from BootstrapAccelerator a global fast track opportunity to becoming a global company, through the Silicon Valley ecosystem.
About BootstrapLabs: BootstrapLabs is a Silicon Valley-based Seed+ Venture Capital Fund that invests in foreign startups to relocate to Silicon Valley, and build global companies. They employ an entrepreneurial and very hands-on approach to execution and help startups tap into the opportunities Silicon Valley presents.
Today these startups are valued at $150M+, employ more than 150 people, and have received over $25M in funding.
About MAD Incubator
MAD (Make a Difference) Incubator is the largest private incubator and most active entrepreneur development platform in Malaysia, having helped more than 300 startups since its inception in 2009. MAD was founded by Andrew Wong on the premise that every technopreneur deserves to have a chance to succeed and experience technopreneurship to the fullest.
MAD serves only the best programs and support services, and is designed to incorporate diverse technopreneurship experiences, ensuring that startup technopreneurs are able to gain better knowledge to succeed in the technopreneurial world.
The ‘MAD Mission’ is to develop 1,000 startups achieving US$1M turnover by 2015. To achieve this, MAD develops the MAD Entrepreneur Ecosystem which consists of entrepreneur communities, collaborative partnerships, industry/commercialization partners, funding partnerships, government relations, entrepreneur education, coaching, mentoring and platform providers.
About MDeC: Multimedia Development Corporation (MDeC) directs and oversees Malaysia’s National ICT (Information & Communication Technology) Initiative, the MSC Malaysia (formerly known as the Multimedia Super Corridor in Malaysia). MDeC is owned and funded by the Malaysian Government, and serves to advise the Malaysian Government on legislation and policies, develop MSC Malaysia-specific practises. MDeC also promote MSC Malaysia locally and globally, as well as support companies which are locating to and located within MSC Malaysia.
Editorial Contact: Ben Levy, BootstrapLabs, Silicon Valley
Alice Foong, MAD Incubator Sdn Bhd (868303-D), Malaysia