Sponsoring Agency: FWD
Type of Fund: Seed Money
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 05/14/2021
Size of the Fund: Less than USD $50,000
FWD Insurance (“FWD”) has announced the launch of FWD Start-Up Studio, a programme of support and investment for Insurtech and Takafultech start-ups in Malaysia.
Validate your Fintech and Insurtech Startup Idea and Gain Access to Key Financial Industry Players, Funding & Mentorship Support.
The studio closely aligns with FWD’s progressive approach towards digital technology and data analytics. The team is particularly keen to work with start-ups in artificial intelligence, machine learning, cloud computing, and blockchain technology.
Pre-Accelerator Programme
FWD Startup Studio and 1337 Ventures are launching a bi-annual pre-accelerator programme in 2021 to help aspiring entrepreneurs and startups ideate, validate and fine-tune their business and go-to-market plans in the fintech and Insurtech sectors. Through this 4-week long pre-acceleration, participants will be able to identify new opportunities in the fintech and Insurtech sectors that enhance the ecosystem and value chain.
The final day of the programme culminates in a Demo Day where top teams present their pitches to investors throughout the region. Top teams of the programme will receive an investment of RM 150,000.00 to kickstart their idea and also the potential for paid proof of concepts (POCs) with FWD.
Programme Benefits
• Idea-to-Product: Be selected to go through time-tested pre-accelerator bootcamp to ensure that you are equipped with relevant knowledge with regards to Customer Development, Product Development, and Marketing — what you need to create your Minimal Viable Product (MVP)
• Connect with like minded individuals: Learn from and connect with renowned Fintech/Insurtech business industry mentors, technology experts, investors, partners, FSIs, compliance officers, Shariah compliance experts, and global Fintech players.
• Accelerate your growth: Accelerate your growth under the mentorship of FWD Startup Studio. Top startups will receive investments and the potential for paid proof of concept (POCs), office space and USD 500k worth of infrastructure
Programme Schedule
The pre-accelerator bootcamp will take place twice a year, across 2 months, where:
• Week 1: Fintech and Regulations
• Week 2: Customer Development
• Week 3: Product Development
• Week 4: Marketing
• Week 5 – Week 12: Mentorship
• Demo Day
FWD Start-Up Studio is designed to be the leading Insurtech innovation hub. FWD supports startups through:
• FWD to invest RM150k each to top startups in the pre-accelerator programme
• Further funding for high potential start-ups from seed to pre-series A
• The opportunity to create a proof of concept, working alongside FWD
• Assistance in expanding to other countries in ASEAN.
• Up to US$100k of cloud credits
• FWD Workshops on topics such as Design Thinking, and Insurtech 101
• The possibility to co-create further high-potential ventures alongside FWD
• Access into the studio’s mentorship programme
More information at: https://www.facebook.com/1337ventures/photos/a.347006328747389/3867181500063170/
