Singapore-based fintech startup Traderwave is delighted to announce their participation in the Cohort 3 of the MaGIC Accelerator Program. Claiming to be the largest start-up accelerator program in Southeast Asia, this four-month long program began in mid- August 2016, and is scheduled to end on 8 December 2016.
An initiative of the Government of Malaysia and the Malaysian Global Innovation & Creativity Centre, the MaGIC Accelerator Program promotes entrepreneurship throughout Asia. Participants for the final cohort of the program are selected after a rigorous selection process based on three key criteria viz. prospects for regional and global expansion, early-stage investment readiness and potential of highly scalable products. This year, only fifty startups were selected among five hundred and sixty applicants across thirty countries to join the Cohort 3 of the program. As part of the program, the startups gained access to world-class mentors, a monthly stipend, accommodation, workspaces and other benefits worth over $400,000.
Traderwave is one of the three start-ups from Singapore to make it to this fully-funded residential program; equity is not taken from the selected startups. Traderwave is focused on building a comprehensive trading workflow solution for global traders, utilising the modern web technologies. The company was one of the finalists of SiTF Awards 2015 in the Best Innovative Start-up (Early Stage), administered by the Singapore Infocomm Technology Federation. Traderwave is also the recipient of a $50,000 i.JAM Reload development grant by Media Development of Singapore to develop its prototype in June 2015.
“We are honored to be one of the only three Singapore startups selected for this accelerator program, commented Traderwave CEO and Founder Philip Teo. “After bootstrapping under the radar for more than a year, we will make use of this opportunity to establish further validation of our product offerings and look to raise our first round of external funding by the end of the program.”
Teo founded Traderwave in 2015 with the goal of building world-class web solutions for traders all over the world.