The Exabytes Group launches its ‘Cockroach Start-up Programme’ as its first ever technology-funding programme to help develop and grow a strong start-up community across Malaysia.
“A cockroach start-up is the one that keeps struggling and moves forward in spite of changing environments, market conditions and investment scenarios – just like a cockroach,” explains Chan Kee Siak, founder and executive director of Exabytes.
“The introduction of the Cockroach Start-up Programme is part of Exabytes’ continuous commitment in nurturing start-ups by providing a sustainable platform in order to further drive the setup of aspiring start-ups in Malaysia,” he continues.
Chan also mentions that the Cockroach Start-up Programme is designed to support pre-seed to seed high potential start-up from all industry categories by way of technology funding to build and grow their businesses.
The programme will commence on 1 April 2017 and the Exabytes’ support will come in two stages. For the first stage, the company will offer RM3,000 worth of credit for 1,000 qualified start-ups who have joined incubator or accelerator programme to be able to use Exabytes services for one year.
On stage 2, 20 shortlisted start-ups that have successfully developed their products will continue to receive Exabytes’ support worth RM30,000 in credit for their production use. They will also be given RM20,000 in cash in exchange for Exabytes to gain 5% equity shareholding in their business.