Singapore: Traderwave to participate in MaGIC accelerator programme

Visual taken from MaGIC's facebook page

Singapore-based Traderwave has announced their participation in the Malaysian Global Innovation & Creativity Centre (MaGIC) accelerator scheme. The programme has been underway since August 23rd and is scheduled to end early December 2016.

The MaGIC accelerator is a Malaysian government initiative promoting entrepreneurship throughout South-East Asia. Successful applicants will receive mentoring, a monthly stipend, accommodation, work space and other benefits worth an estimated total of $400,000.

The programme aims to accelerate startups to be investment ready in four months and does not require any equity from the participants. 

Mentors at the MaGIC include Chelsey Lepage, Innovation Lead at UNICEF, Prashant Pathmanaban, Head of Technology at Google and Michael Octoman, Partner at Navis Capital, among others.

To date, it is the largest startup accelerator programme in Southeast Asia. Earlier this summer, MaGIC partnered with Uber to launch an ideation lab, a new initiative targeting the Southeast Asian entrepreneurial community.

Also Read: MaGIC partners Perak State

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Traderwave was selected with 49 other startups out of 560 applications for the third edition of the program. It is one of the three startups representing Singapore, and one of only two fintech firms selected, it said.

The company was also one of the finalists at the Singapore Infocomm Technology Federation (SiTF) Awards 2015 in the Best Early-Stage Innovative Start-up category.

Founded in 2015, the startup aims to build a trading workflow solution platform for global traders, using modern web applications. It uses an intuitive web-based technical analysis software to assist traders in analyzing market opportunities and regularly alerts customers on trading ideas.

Traderwave had earlier received an S$50,000 grant from the Media Development Authority (MDA) of Singapore to develop their prototype in June 2015. “We are likely one of the very few modern financial technology company that is attempting to use the latest web technologies to build a complete trading workflow solution for global retail traders” CEO Philip Teo told DEALSTREETASIA.

“Our vision is to provide global retail traders the convenience to shortlist, analyze, execute, journal and review their trading ideas from one single web-based platform that is broker neutral.”

Having bootstrapped for more than a year, Teo affirmed Traderwave’s ambition to use the programme in establishing greater recognition of the product. The firm hopes to raise our their first round of external funding by the end of the program.

Also Read:

Malaysia’s MaGIC to look beyond tech, to back innovative ideas in other verticals

MaGIC’s MAP graduates raise $4.25m funding collectively, Cohort 2 launched

Thai lender KBANK to launch fintech-focussed fund of funds

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.