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Silicon Valley-based BootstrapLabs, and Malaysia-based MAD Incubator have partnered to create BootstrapAccelerator Asia, a Southeast Asia-focused tech startup accelerator with a Silicon Valley fast track for its most promising candidates. A partnership of this type is a first in the region.
As Southeast Asia is experiencing steady growth, more investors are turning to the region which plays host to a population of one billion.
“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 and Founder of MAD Incubator adds, “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 package of cash grants and other perks said to be valued at over US$35 000. The most promising accelerator 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. 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.
First enrollment will start 2 July 2013 with a May 30, 2013 application deadline.