[MaGIC] MaGIC Accelerator Program - SE Track FAQ
| Question | Answer |
| I'm already, or participated as, beneficiary or team member of a MaGIC-program. Can I still apply for the SE Accelerator program? | Yes, for as long as you meet the eligibility criteria, you would still be eligible for selection in to the SE Accelerator Program. |
| Where can I register or learn more about the SE Accelerator program? | You may learn more or register at http://www.mymagic.my/accelerator/se |
| Can a single founder, submit an application into the SE Accelerator program? | Yes MaGIC accepts application from local Malaysian teams that may consist of between one to three full-time members for as long as the applicants are at least 18 years old and above |
| Is it necessary to have a completed business plan to enter an application for the SE Accelerator program? | It is essential to have a clear business plan for the piloted idea as this will be factorized into the selection process of the top 25 social entrepreneurs that will be shortlisted into the program |
| What type of social entrepreneurs is the Social Enterprise Accelerator Program is looking for? | We generally accept enterprises that are looking to pilot a product, service or an idea for as long as it is at the early stage that has social/environment impact at its core. Ideally, these early stages idea should be equipped with clear and concise business plan |
| What is the required commitment from the Social Enterprise startups? | A team of up to 3 Malaysian founders with at least one founder willing to commit to the program on a full-time basis |
| Will my startup be required to pay any fees or give up any equity by undergoing this accelerator program? | No your start up will not require to pay any fees or involved in equity sharing for this SE Accelerator Program |
| How long is the duration of the program and what will happen after the program? | The program will run for 4 months beginning from end of july to end of November 2015. Participants will be able to be connected to MaGIC's partners as well as stay in touch with the mentors and speakers from various industry background for as long as their entire entrepreneurship journey. |
| What will a typical day be like for the participants who are attending the SE Accelerator program ? | In general, participants will undergo instructor led class and/or workshops in the morning. After lunch, participants will also have the chance to network and undergo team building activities, action learning as well as several engagements with industry experts throughout the program. |
| Can we join the SE accelerator program without being in MaGIC Cyberjaya? | You are required at least one co - founder/team members to be fully committed to the whole duration of the SE Accelerator Program. Failure to do so will result in your team/enterprise be ineligible for the program |
| Am I still be able to work on my start up even though I am based in MaGIC during the 4 months program? | Yes you are able to. MaGIC understand that you are still required to perform your day to day tasks. As such you are able to use MaGIC's facilities for your to run your daily errands from Cyberjaya in between the accelerator sessions and workshops. |
| Will I have to pay for the cost of travel and accommodation? | Participants' travel arrangements will be reimburse to you with a limit of rm 1000 where as the accommodation will be fully funded by MaGIC |
| What is the Social Enterprise Accelerator Program? | The Social Enterprise (SE) Accelerator Program is one of the two Accelerator Programs that is offered by MaGiC. The SE Accelerator Program is Malaysia's first accelerator program designed for local social enterpreneurs throughout the 4 months period beginning from 27 July to 27 Nov 2015. |
| What is the objective of the Social Enterprise Accelerator Program? | The objective of the program is to build local social entrepreneurs' capabilities and connections to help them grow and create impact in the community while generating revenue to become self-sustainable. |
| What are the benefits of participating in the SE Accelerator Program? | Participants of this program will:1) Gain industry insights to help them plan and build their social enterprises 2) Develop key skills from experts to launch and grow social enterprises 3) Build deep relationship with industry experts and influencers to enrich their entrepreneurial journey |
| Does MaGIC offer funding for the social enterprises that undergo the accelerator program? | The participants of the SE Accelerator Program will receive seed fund of RM30,000 to pilot their social enterprise idea |
| I'm already, or participated as, beneficiary or team member of a MaGIC-program. Can I still apply for the SE Accelerator program? | Yes, for as long as you meet the eligibility criteria, you would still be eligible for selection in to the SE Accelerator Program. |
| Where can I register or learn more about the SE Accelerator program? | You may learn more or register at http://www.mymagic.my/accelerator/se |
| Can a single founder, submit an application into the SE Accelerator program? | Yes MaGIC accepts application from local Malaysian teams that may consist of between one to three full-time members for as long as the applicants are at least 18 years old and above |
| Is it necessary to have a completed business plan to enter an application for the SE Accelerator program? | It is essential to have a clear business plan for the piloted idea as this will be factorized into the selection process of the top 25 social entrepreneurs that will be shortlisted into the program |
| What type of social entrepreneurs is the Social Enterprise Accelerator Program is looking for? | We generally accept enterprises that are looking to pilot a product, service or an idea for as long as it is at the early stage that has social/environment impact at its core. Ideally, these early stages idea should be equipped with clear and concise business plan |
| What is the required commitment from the Social Enterprise startups? | A team of up to 3 Malaysian founders with at least one founder willing to commit to the program on a full-time basis |
| Will my startup be required to pay any fees or give up any equity by undergoing this accelerator program? | No your start up will not require to pay any fees or involved in equity sharing for this SE Accelerator Program |
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