Alpha Startup, The Pre-accelerator That Wants To Prepare Upcoming Startups.
Accelerator tend to receive applications that reach a total of hundreds, sometimes even thousands from upcoming startups, Unfortunately, only a small percentage of them can make it through, the majority will usually run around like bunch of headless chickens trying to over pitch their own.
According to the CEO of 1337 Ventures, Bikesh Lakhmichand, early startups fails during this stage due to the not receiving enough help.
“We’re seeing a real gap even as we’re vetting through hundreds of applications from startups applying for funding,” he said. “As much as there’s an evident growth in innovative ideas, there’s also a rising pile of ‘not there yet’ applications in terms of being a validated startup.”
A pre-accelerator program organized by 1337 Ventures in partnership with Multmedia Development Corporation(MDeC) of Malaysia, Alpha Startups, was created in order to fix this problem. Their main goals are to help early stage startup progress as smooth as possible from a raw idea to a validated minimum viable product (MVP), which is highly important for fundraising, traction and investment.
Alpha Startup is made up of an intensive five day bootcamp where the selected teams of entrepreneurs, developers and designers will receive a close guidance from experienced industry mentors, during the mean time they shall also be testing and validating scalable product or startup ideas together along side of their peers.
During the end of the day, teams that have successfully completed the pe-accelerator program will equipped with validated product proposition, solid marketing strategy, practical product roadmap, and pitch deck. These will place them in a good position when they apply to the funding program that is ran by 1337 Accelerator and other well known investment organization throughout Malaysia.
The program will begin to take place from 19 to 23 during May 2014. Those who are interested in joining in should send their applications by the 14 of May 2014. It should be sent in a the form of a one-minute video pitch covering the product, market, execution strategy and why they believe they are the best team to solve these problems.