About

A program for aspiring young founders to take their ideas to founding a real tech startup venture with market traction in 9 months

A transformative 9-months journey designed to turn your ideas or young venture into a thriving startup with strong product-market fit. From market-fit workshops, small group mentoring, learning how to think like an investor and other activities, our structured path guides young founders to build a solid venture foundation with the right entrepreneurship mindset that is ready to scale. High performing founders will also get the opportunity to pitch to investors at the Pitch Island Demo Day with the Malaysian Business Angel Network.

SP500 runs for a total 10 to 12 activity days that are spread over a period of 9 months to provide you with that continuous support as you run your business. Your time spent in-program activity days actually contributed towards building a stronger venture. At the end of the program, as a high performer you will be selected to pitch to the Malaysian Business Angels Network and other VCs for potential investment. If you successfully raised an investment during this programme, Digital Penang will match the investment up to RM30,000 for the best 3 ventures

 

Stages

4 sessions that will help you discover and align your ideas and solution to market fit.

Develop or improve your MVP over a period of 3 months to match the market fit requirements.

Received 3 months of 1-to-1 mentoring in helping you to execute your product into the market to help you secure your first customer or expand your customer base.

Attend 4 sessions of Founders Meetup Masterclass designed to help you Go-To-Market effectively

Pitch to Angel Investors to raised your very first Angel funding for your ideas and apply to Cradle Fund CIP Spark

Received matching grant up to RM30,000 for qualified companies from Digital Penang

Commitments

This program is not a training or educational program. It is designed for people who are serious in starting a tech venture therefore you will signed a participation agreement with Digital Penang when you are accepted to be enrolled in this programme. You will be committing 10 to 12 total activity days spread over a period of next 9 months providing you with sustained support and mentoring as you run your business. 

Limited slots for 20 early-stage or idea stage startups only.

Who Should Join

  • Entrepreneurs who have realistic and executable ideas that solves problems faced by industries and society.
  • Ambitious individual with the hunger to build meaningful venture and comes from a background of business or software or technology. 
  • Experience domain expert in the field of business or technology that is looking to own and build your own venture.

What you are looking for:

  • The right guidance to start-off on the path towards building scalable technology companies.
  • The right mentoring to help you translate opportunities into profitable businesses.
  • Learning about investor mindset, how to pitch effectively to raise funds and position your venture to attract investment interests.

Requirements

  • Registered business or company with SSM.
  • Minimum founding partners in the business is 2 people with one founder as a product developer.
  • Venture is less than 2 years in operations as at FYE 2023.
  • Revenue between RM0 to RM50,000 as at FYE 2023.
  • Venture must be a Penang-based company.
  • Registered with Digital Penang Database. (Click Here)

Program Schedule

STAGE 1
Participant Selection

1st April – 15th April

STAGE 2
Product Market-Fit Workshop

1st May – 31st May

STAGE 3
MVP Development/
Redevelopment
1st June – 31st August

STAGE 4
Founders Meetup Masterclasses

1st July – 30th September

STAGE 5
Small Mentoring Group

1st August – 31st October

STAGE 6
Pitch Island Angel Pitching

1st October – 25th October

Program Partners

Ecosystem Partners

APPLY NOW!
Calling For Young Founders

Digital Penang would like to invite interested early-stage startups to join and accelerate their venture

DEADLINE 31 MARCH 2024

UN Sustainable Development Goals:

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