A co-working space in Brooklyn, New York City’s thriving hub of entrepreneurship and tech startups. UNSPLASH/Shridhar Gupta
Discover co-working spaces, incubators, accelerators
Incubators in Malaysia are government-funded to help grow emerging local industries such as the arts, fintech, biotech and medtech. They do not take equity. In contrast, accelerator programmes include seed investment, mentorship and industry connections, culminating in a public pitch event. Here, accelerators are the most common startup platforms with the biggest often funded by industry brands that take equity. Others, like MaGIC of GrabTaxi fame, take a stake in the startup.
More than a space for startups, sole proprietors and freelancers, co-working is a community concept where individuals of different fields and backgrounds who share the same values and principles come together to work, socialise, share knowledge and collaborate. Diversity is the key to great co-working spaces. Co-working spaces in Malaysia require a time-based membership fee, although less formal spaces are free of charge. They focus on the fields of fintech, AI, IoT, cloud computing and wearables as well as other emerging technologies, with the potential to scale-up for the ASEAN region.