MaGIC GAP FAQ

General


  1. What is the GLOBAL ACCELERATOR PROGRAM (“GAP”)?

    A program to accelerate startups from all over the world, with an interest to expand their business in the ASEAN region, to be investment-ready in 4 months. GAP also aims to build a strong ASEAN startup community by cultivating ASEAN relationships.


  2. What type of startups are you looking for?

    We are looking for startups that have validated their ideas or launched a product/prototype with some traction, and have the potential to scale in the ASEAN region. Ideal startups would be less than 3 years old and focusing on the ASEAN market.


  3. What type of teams are you looking for?

    We are looking for strong teams with diverse skill sets; although we may also accept single cofounders by exception. Each team in the accelerator shall consist of between one (1) to two (2) co-founders. All participants must be aged 18 years old and above.


  4. What are the objectives of the program?

    The ASEAN community is currently the 3rd largest market with a population of almost 650 million (larger than the European Union or North America) and the 5th largest economy in the world. The accelerator program aims to bring down the borders in the ASEAN startup ecosystem and work together to capitalise on ASEAN's growth story. By joining forces, we also aim to create a large cluster of startups for investors seeking access to regional deal flow


  5. Why should I join the program?

    The program will prepare you with the knowledge and relationships to scale in the ASEAN region. Startups will learn from world-class mentors with weekly themes and gain access to regional investors and route-to-market partners. In addition, MaGIC covers your travel and living expenses to attend the program.


  6. What is the commitment required from startups?

    Startups are required to commit to the program on a full-time basis for the entire 4 months. Classes and workshops will be conducted on Monday and Tuesday while startups will have the rest of the week free to work on their business as needed. As part of the program, startups are also required to participate in some social impact activities such as helping out early stage social enterprises or conducting entrepreneurship-related outreach activities within Malaysia. Ultimately, the core focus of the program is for you to build relationships, work on your startup and achieve your milestones.


  7. What do you mean by full-time?

    GAP is a program designed for dedicated teams who are fully focused on their startups and not for part time founders or freelancers. Teams must be fully committed and work out of the MaGIC campus for the 4 months. The program works on the basis of a strong cohort community. In order to fully accelerate, teams are required to attend and participate in some core classes, workshops, events and discussions. Nevertheless, startups will have some flexibility when it comes to attendance for non-core sessions as we understand the nature of running a startup and the importance of building your business.


  8. Does the Global Accelerator Program have a Social Enterprise Track?

    No, however social enterprises are encouraged to apply for the Global Accelerator Program as one of our verticals is "Social Innovation / Enterprise". The aim of this track is to guide startups on how to accelerate their growth while creating a lasting impact on our community or environment.


  9. How is the program different from other startup accelerators?

    The Global Accelerator Program is a government-funded initiative to create a critical mass of up to 80 high-growth startups in Malaysia for the ASEAN region, once a year. What sets the program apart is its strong regional focus and the quality of regional mentors and partners committed to the program. GAP will be the largest accelerator in South East Asia and we take no equity from the startups that join us.


  10. What kind of assistance does MaGIC bring to match startups with investors?

    MaGIC has access to local, regional and global investors and can act as the platform to match startups with potential sources of funding. We also have investors committed as program mentors and top startups will have the opportunity to pitch to investors during Demo Day.


  11. How long does the program last?

    The program is approximately four months long.


  12. Do we need to move to Malaysia to join the accelerator?

    Yes, the program participants (preferably all founders) must move to Malaysia for the duration of the program but other employees of your startup are not required to relocate.


  13. Does MaGIC invest in the startups?

    MaGIC does not invest or take any equity in the startups.


  14. Do we have to incorporate a company in Malaysia?

    No, you are not required to set up a company in Malaysia.


  15. Does MaGIC assign mentors to startups and how often do we meet mentors?

    Mentor engagement will run organically and depend on mentor's availability. Different mentors will come in to give talks every week -- this is your chance to hustle and approach the ones you feel are relevant for your startup. There will also be 2-3 platoon mentors assigned to your startup.


  16. Does MaGIC provide cash funding / investment?

    Unfortunately, no.


  17. Will I retain the rights associated with my idea or prototype?

    You will retain any IP rights associated with your startup and your prototype.


  18. Will there be a Demo Day?

    Yes, the program will wrap up with a Demo Day where you will pitch to investors.


  19. Will MaGIC help with PR/media?

    There is no direct PR support. However, startups may potentially get highlighted in local/regional press./p>


  20. Will you support multiple startups working on similar ideas?

    Yes.


  21. How does the Global Accelerator Program measure success?

    Our focus is on growing the startup ecosystem by creating startups that are investment-ready. A key measure of success is how many startups go on to raise private capital.


  22. May I have the schedule for the program?

    The schedule is not available publicly but you will receive it during orientation.


  23. Please explain more about the level of commitment required during the program -- do I need to be there each day?

    Your whole team is required to be present at MaGIC for the fortnightly platoon sessions. There will also be weekly check-ins with Account Managers for progress updates. Those can be done through Skype and would not require you or your team to be physically present at MaGIC. GAP Talks take place on Mondays and Tuesdays and are optional for you to pick and choose depending on the topics.


  24. Can I make changes (add/replace) team members after being accepted into the program?

    If you notify us before the deadline, you will be able to fill up the request form to add/replace team members. Once that has been submitted to us, we will review it and will notify you once the decision is made.


  25. What happens after the new team member has been accepted?

    We will send you new offer letters. Fill those up and attach it under its respective fields on Accelerator Tracking & Application System (“ATAS”).


  26. Instead of uploading my documents on ATAS, can I just submit it through email?

    No, participants are required to submit all documents on ATAS. Note: Unless there are issues uploading that cannot be resolved.


  27. Is this acceptance email really intended for us? We can't believe we got accepted into the program. We hope this is not a system error.

    Yes, it was intended for you. No system error.


Application


  1. How do I apply?

    Kindly submit your applications at https://accelerator.mymagic.my/en/gap


  2. Are there any application fees or program fees?

    Fortunately, no.


  3. When can I apply?

    Applications for the July 2017 intake are open from 3rd March - 7 April 2017.


  4. Do we need to have a Malaysian founder to apply?

    The program is open to all nationalities.


  5. Can we apply if we have already received funding?

    Yes, of course.


  6. My company provides consulting services. Can I apply?

    No, as we do not consider consulting companies scalable startups.


  7. We have submitted our application, what is the next stage of the application process?

    Thank you! If your startup is shortlisted, MaGIC will invite you to pitch at MaGIC Cyberjaya during the week of 25 - 26 April 2017. We will make special arrangements for applicants who are not based in Malaysia to pitch via video conference.


  8. When will we find out if we are accepted into the program?

    MaGIC aims to notify all applicants on the status of their applications by the 1st of May 2017.


  9. Can we apply if we are a current or past recipient of another MaGIC program e.g. Stanford Go2Market, Web Development Bootcamp, etc.?

    Yes.


  10. Can we apply if we have previously participated in another accelerator program?

    Yes.


  11. Do you only fund startups that write software?

    No.


  12. My team outsources software development. Are we still qualified to apply?

    Yes.


  13. Our group has two ideas. Can we submit two applications?

    Yes, you may.


  14. Will I be told my team's rank in the competition?

    No.


  15. Will I get notified if I got rejected? What can I do after?

    Yes, you will receive a notification. You can focus on gaining more validation and traction and apply again for the next cohort.


  16. We didn't get accepted into the program. Can we get some feedback though?

    Yes, you may email the GAP team.


  17. What do I need to apply for GAP? Recommendation letter? Pitch video?

    Please refer to the online application form on our website. The application will require information about your startup and your team along with a pitch deck and application video.


  18. We were scheduled to receive a call from the judges, however we did not receive any. Did we miss the call?

    If you did not receive any calls from us, that would mean that the judges did not have any questions for you after watching your pitch video and going through your pitch deck.


  19. We don't have a video pitch, can we submit just a pdf pitch?

    No, it is a requirement to record a 90 second video to be uploaded on Youtube and share the link on ATAS as part of the application.


Onboarding


  1. Will MaGIC provide working space?

    MaGIC will provide co-working space at MaGIC's building in Cyberjaya for the entire duration of the program.


  2. How does the monthly living allowance work?

    MaGIC will provide each participant a fixed living allowance of RM1,000 per month over the course of four months.


  3. What type of accommodation is provided?

    MaGIC will provide free accommodation in Cyberjaya for all participants on a twin-sharing basis. However, participants may choose to opt-out if they already have their own accommodation arrangements. MaGIC will not provide reimbursements for any other forms of accommodation. Click here to view accommodation : DASHBOX


  4. How does the flight reimbursement work?

    You are required to purchase your own flight ticket to Malaysia. MaGIC will reimburse the cost of your return flight ticket up to a maximum of RM1,000 per participant.


  5. Do I need apply for a visa to participate in this program?

    MaGIC will assist you with the process of applying for a 6-month Professional Visit Pass to participate in the accelerator program.


  6. Will MaGIC provide any insurance cover during the program?

    Insurance will not be provided and as such MaGIC strongly advises all participants to purchase an insurance.


  7. Who will help me between my acceptance and my arrival to Malaysia?

    The GAP team will be available to answer all queries via gap.team@mymagic.my. You can also reach out to your Account Managers after you receive your platoon assignment.


  8. Can I arrive earlier? Will working space/accommodation be available for me? What about after the program?

    Accommodation will be available 2 days prior to the program start date but you will need to check-out by the date set by the program. Working space at the GAP Space is available for you to use before and after the program.


  9. How would I know if my pre-arrival form has been submitted after clicking 'submit'?

    On the general main page on ATAS, there is a section on your pre-arrival form. If there is a time-stamp, you have successfully submitted.


  10. How are the rooms assigned to participants?

    We will be prioritising the shared rooms based on gender and startups. We will try our best to keep team members to share the same room when possible.


Others


  1. Where do I go if I have more questions?

    Thank you for your interest. Kindly email gap.team@mymagic.my and our team will get back to you.


  2. I am interested in being a mentor or coming in as a program partner. Who can I contact?

    Thank you for your interest. Kindly email gap.team@mymagic.my and our team will get back to you.




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