BootstrapAccelerator Asia, the joint-venture between Silicon Valley-based BootstrapLabs, and Malaysia-based MAD Incubator is opening its doors officially to the public July 3rd, 2013. It is the first Southeast Asia-focused Tech Startup Accelerator with a Silicon Valley Fast TrackTM program for its most promising candidates.
First announced back in May of this year, 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. Its mission is to nurture and support entrepreneurs willing to build innovative, and sometime disruptive, technology startups focused on the South East Asian market and provide a bridge to Silicon Valley for the ones with global potential.
Unlike most accelerator programs, BootstrapAccelerator is a 12 month program that enrolls startups each month. It also runs an ideation program where selected future founders can refine, validate and plan for the launch of their startups.
“Selected startups will not work toward an artificial demo day set 3 months down the line but focus on building a minimum delightful product (“MDP”) to accelerate customer adoption, widen distribution and generate revenues using lean methodologies and BootstrapAccelerator’s extensive network of professionals”, said Andrew Wong, the CEO of MAD Incubator and Co-Founder of BootstrapAccelerator.
Interestingly enough, the number of applicant ideas and startups targeting web-based distribution has been higher than those targeting mobile, while the numbers focused on B2C was higher among the ideation candidates vs. B2B for actual startups.
“This is not really surprising in a region where smartphone penetration still trails feature phones and computers but we expect this trend to rapidly shift toward Mobile. Similarly, young entrepreneurs tend to focus on B2C projects as they require less knowledge of the corporate world, something they might lack exposure too” said Benjamin Levy, Partner at BootstrapLabs and Co-Founder of BootstrapAccelerator.
He went on to say that they saw a number of companies from Europe applying to join the accelerator program and focus directly on the South East Asian market (as opposed to the US where competitors might already exist). Maybe we are starting to witness an “ASEAN FIRST” trend.
Ng Wan Peng, Chief Operating Officer of Multimedia Development Corporation Sdn Bhd (MDeC) said, “Accelerator programmes such as BootstrapAccelerator Asia will enable local Malaysian entrepreneurs to foresee the vast opportunities that are abound in spurring the growth of the country’s digital content economy. MDeC, as driver of Digital Malaysia, the national digital economy initiative and the national ICT initiative via MSC Malaysia is thus highly supportive of programmes and initiatives which are aimed at inspiring Malaysians to become digital entrepreneurs”.
Having the flexibility to enroll startups each month, BootstrapAccelerator has thus far invited 3 startups to join its July 2013 Class, with 2 more slated for its August 2013 Class:
MyMobileUniversity (www.mymobileuni.com), a one touch mobile e-learning platform delivering educational content to millions of knowledge hungry minds across South East Asia and beyond. Contacts: firstname.lastname@example.org
iPointi (www.ipointi.com), a mobile social engagement technology platform leveraging augmented reality and location-based services to deliver memorable marketing campaign for brands, governments and businesses. iPointi was recently named the winner of the Digi Challenge for Change 2013. Contacts: email@example.com
Additionally, BootstrapAccelerator has invited 6 entrepreneurs to join its Ideation program for one month. Areas of interest include children safety, social trading, business recommendation, student lodging, healthy lifestyle and B2E expats services.