Photo - Andrew Wong, CEO of MAD Incubator at a recent expo.
The first Southeast Asia-focused accelerator for tech startups has been launched with a Silicon Valley Fast Track as the result of a new partnership between Malaysia-based MAD Incubator with Silicon Valley-based BootstrapLabs.
MSC [Multimedia Supercorridor] Malaysia status firm MAD Incubator's chief executive officer Andrew Wong said the new partners share a conviction that Southeast Asia would be a hotbed for 'disruptive startups in the near future as 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.
"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," said Wong.
"What is developing in Southeast Asia is thrilling," said BootstrapLabs founder Nicolai Wadstrom. "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."
Wadstrom said: "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 catalyse domestic ecosystem expansion to the world," said MDeC's director of Innovation Capital, Dr Karl Ng. "We are thrilled to have BootstrapAccelerator operating out of Cyberjaya and will have a range of support through various programmes, into the future."
For more information, startups can apply at bootstrapaccelerator.com/apply/. First enrolment will start 2 July 2013 with a 30 May 2013 application deadline.
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