DRAPER University, touted as the world’s leading pre-accelerator, is set to expand its footprint internationally by establishing Its first campus outside of the Silicon Valley, USA, in Kuala Lumpur.
The Digital Ministry announced that the move is taking place in partnership with the Malaysia Digital Economy Corporation (MDEC), an agency under its purview.
Draper University will support and spearhead the growth of 140 startups in Malaysia over the next two years with a focus on companies that operate in the AI, cybersecurity, blockchain, Web3 and advanced 5G space.
“This strategic collaboration between MDEC and Draper University will drive investment in Malaysian startups like never before, by developing the digital ecosystem and providing mutually beneficial market access for emerging Malaysian companies to propel the country’s tech sector to even greater heights,” said Asra Nadeem, CEO of Draper University.
The varsity was founded by distinguished venture capitalist Tim Draper.
Digital Minister Gobind Singh Deo said in a statement that Draper University’s initiative will accelerate innovation and value creation in the Malaysian startup ecosystem.
“This underscores Malaysia’s commitment to develop a global mindset in this sector and position us as the preferred digital hub of Asean,” he said.
“Malaysia is currently looking to build that competitive edge capable of empowering startups, including supporting initiatives which innovate and simplify business processes.”
He noted that the university has accelerated over 750 companies to date, with over USD1.05 billion raised from top global investors and produced several “unicorns”.
These including video game developer 1047 Games and Highstreet, a commerce-centred metaverse that integrates shopping with gaming.
Draper University is part of Draper Venture Network, an alliance of independent venture capital firms including Draper Associates, Boost VC, Draper Dragon, and Draper StartupHouse, a global chain of affordable hotels for entrepreneurs. – The Vibes, March 21, 2024
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