[This is a sponsored article with Sidec.]
It has been more than a year since the pandemic broke out locally and we are still dealing with its effects on our lives and businesses.
Companies needed to change to be more technology-focused or introduce tactile interaction models, allowing them to deal with customers without the need for face-to-face interaction. This new model helped e-commerce companies, the agritech and fintech industries flourish during the pandemic.
Although demand exists, not all startups in this circle knew how to respond to the rapidly growing market.
Thus, the Selangor Information Technology and Digital Economy Corporation (Sidec) decided to intensify its efforts to help companies realize their potential through the fourth cohort of Selangor Accelerator Program (SAP).
A major change in SAP 2021 is a revitalized approach agritech, greentech, smart city, fintech and e-commerce solutions. Sidec believes these verticals are key to the recovery of the local economy through digital transformation, greater adoption of technology in business and greater food security.
SAP has been successful fed 90 startups in their previous cohorts and 43% of them received funding later. To get a better view of the benefits of the program, we spoke with two SAP 2020 alumni, HeyAlfred and Kapitani.
Foster a community for your startups
Hey, Alfred is a budget app to help users control and manage their finances. It also includes an integrated AI chatbot known as Alfie, which will provide you with additional information and tips on financial management based on your spending behavior.
Adam Helmi, one of the co-founders and chief financial officer of HeyAlfred, said one of the most rewarding aspects of SAP was the sense of community built during the program.
Even though the show was practically carried out, Adam still felt Sidec’s attention creating crucial network relationships for startups, that was a big draw for him. He even led HeyAlfred to collaborate with other companies in the same cohort after graduating.
But collaborations are not the only benefits of the program; Adam blatantly revealed that the team originally joined SAP to get the “lucrative RM30k cash prize”. Jokes aside, he said SAP was a good platform to look for more validation of its product, better know business management and improve internal processes.
When you join SAP, you will be given mentors this will guide you throughout the process. The mentors chosen by Sidec will also be experts in their respective fields, acting as a benchmark for startups to work.
Adam praised the mentors Sidec assigned to them saying, “Resident mentors will be there to help you from the beginning, to the visiting mentors who will guide you in formulating effective market entry strategies.”
Help startups realize their vision
The team behind it Captains wholeheartedly agreed with Adam’s statement about networking as well. Kapitani is an agro-smart company that provides small local farmers with access to knowledge, capital and additional resources.
As an initial initiation, they believed that the process of networking is a vital step leading to greater exposure, possible partnerships, collaboration, and even funding opportunities in the future. Nazrul Hazeri Nazirmuddin, CEO of Kapitani, said SAP provided them with an unprecedented opportunity, especially for an unfinished A-Series startup. It helped them polish not only their product and business, but also their skills. your basic equipment.
Within SAP’s three-month journey, Nazrul and his team were prepared to be ready for investment and gained a solid understanding of the business operations they previously did not have.
As a startup in the agricultural sector, Nazrul understood that they had to count on the support of industry actors and policy makers to get the maximum impact.
Through Sidec connections with state agencies, Kapitani had the opportunity to present his ideas to policymakers and get first-hand feedback from the government’s perspective on his product. For him, this was the most valuable benefit they have gained from the program.
He continued: “SAP is one of the best managed (if not the best) and structured start accelerators in Malaysia organized by friendly, helpful and dedicated staff at the start. Don’t think twice, go as soon as the application opens. “
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That said, if you are a startup within the agritech, fintech, greentech, e-commerce and smart city solutions, registration in SAP 2021 it is now open.
Note: If you are not upright, but have an innovative and harmful solution, you can still apply for SAP 2021.
However, this year’s SAP presents a new higher cash prize change, thanks to a collaboration with AFFIN BANK, the first bank to be SAP’s main sponsor, raising the cash prize prize of the winners a 50,000 RM.
In the words of Adam: “This is the perfect opportunity to turn your concepts into a business, rather than telling all your friends your next big idea. Do it now lah! ”
- For more information about SAP 2021, click here.
- Registration for SAP 2021 will close on July 14, 2021.
- Check out what we’ve written about accelerators in the past here.
Featured Image Credit: HeyAlfred