StartupX facilitates DARe’s eight Accelerate cycle

21 local businesses join DARe's flagship 100-day startup development programme

DARe Accelerate Cycle 8
A group photo of participants of DARe's eighth Accelerate cycle.

Darussalam Enterprise (DARe) has launched the eighth cycle of its flagship startup development programme Accelerate with a new facilitator from Singapore, StartupX.

Twenty-one Brunei-based startups have enrolled into the 100-day programme, which will be conducted virtually. During Accelerate, startups will be guided in developing ways to scale their businesses by leveraging innovative business models, technology, and raising investment.

StartupX’s credentials include being the implementer of Startup Weekend in Singapore in 2014, and partnering with the Singapore government’s state holding company Temasek to run the region’s first pre-accelerator programme in 2018 targeting high potential, early stage startups.

Chief Operating Officer and Principal Consultant of StartupX Raymond Doraisamy said they aim to connect local participants with regional opportunities while working with DARe to build the local entrepreneurship ecosystem.

“We aim to drive a spirit and culture of innovation and enterprise amongst Bruneians through the Accelerate platform and beyond, bringing our decade of experience working with global startups to the Brunei ecosystem,” said Doraisamy.

“We look forward to bridging together the Singapore and Brunei ecosystems to create greater collaboration opportunities and market access for both sides.”

More than 150 startups have joined Accelerate since 2017, collectively raising more than $2 million in investment and creating more than 500 jobs.

DARe Executive Officer Muhd Saiful Azzam said during the programme’s launch on February 14 that Accelerate began as more focused on tech-based startups, but has since expanded to include any startup with ambitions of scaling nationwide as well as internationally.

Participants of Accelerate also have access to DARe’s ecosystem of initiatives, which includes financing, factory and office space, specialised training, and market access opportunities.

To participate in Accelerate, applicants need to first participate in an ideation workshop, where they will flesh out the initial viability of their existing or proposed concept using the business lean canvas methodology.

Through Accelerate, participants will undergo a curated list of workshops that include identifying market opportunities, developing minimum viable products, assembling teams, making financial projections, map out marketing plans, and create their own pitches.

Accelerate is one of two business bootcamps that are run throughout the year by DARe. The other is the Micro Bootcamp, which targets the growth of smaller, self-employing businesses that can sustainably operate through more traditional, but nevertheless profitable avenues.

Businesses interested in joining either bootcamps can learn more or register through DARe’s website. The next cycle of Accelerate is slated to run in June to August 2022.