FWD Launches The FWD Start-Up Studio To Support Malaysian Startups

Tags: FWD, Insurance, Start-Up Studio

FWD Insurance (FWD) has announced the launch of the FWD Start-Up Studio to support insurtech and takafultech start-ups in Malaysia, with seed funding of RM1.2 million over two years.

The insurer is now inviting applications for the first cohort of intakes which starts in April. A second round will open later in the year, while two more will open in 2022.

The Studio has also teamed up with 1337 Ventures, a Malaysia-based business accelerator, to launch a four-week pre-accelerator programme. This will be open to 25 start-ups in the first round, coming with the opportunity to accelerate towards a minimum viable product (MVP) and commercially partner with FWD.

The Studio aims to be a leading innovation hub. Benefits include:

FWD to invest RM150k each to two winners on the pre-accelerator programme.
Further funding for high potential start-ups from seed to pre-series A.
The opportunity to create a proof of concept, working alongside FWD.
Up to US$100k of cloud credits from Amazon Web Services (AWS).
A springboard into the Malaysian Global Innovation and Creativity Centre (MaGIC) which gives start-ups a “greenlane” when applying for the National Technology and Innovation Sandbox (NTIS).
The possibility to co-create further high-potential ventures alongside FWD.
Access to the studio’s mentorship programme.
FWD workshops with coaching on areas such as design thinking and an insurtech 101.
Immersion into the vibrant Malaysian insurtech network, currently the Islamic finance hub.

[Source]