- Validated startup idea in 48 hours with 500% ROI
- Secured US$30k in contracts and distribution deals
- Went from idea to growth stage in less than 30 days
Malaysian startup StartupToolkit.my emerges as the dark horse of MaGIC’s Global Accelerator Program Cohort 2 (GAP) at its Demo Day event yesterday.
StartupToolkit.my is an idea thought up by entrepreneur and founder David Battersby. It is a simple digital toolkit filled with resources, templates, and canvasses for entrepreneurs to launch a startup in Malaysia.
“People have a lot of opinions but I believe in testing ideas. So I wasted no time in validating the product,” he said.
Battersby put together a simple landing page in two hours and ran a Facebook ad campaign on his digital product. In less than 48 hours, he received seven sales with a 500% ROI. This was when he realised he was on to something.
With only 30 days left on the program, creating traction was crucial. “People said I couldn’t do it – there wasn’t time, the idea’s not good enough, there isn’t a big enough market – but great entrepreneurs know it’s all down to the numbers. I decided to get proactive instead.”
Battersby dug into his contacts and set up back-to-back meetings with anyone who will talk to him. In two weeks, he secured US$30,000.00 worth of licensing and distribution deals. It landed him a spot on the stage for GAP’s Demo Day.
When asked about his future plans with StartupToolkit.my, Battersby said, “After the pitch, I was approached by an investor who was interested to invest the US$50,000.00 I was looking for, so perhaps I could move on to create the startup education platform I’ve always envisioned.”
The program ended on 26 Sept with the remaining 24 startups delivering their final pitches on stage in front of investors, partners, and members of the press in a glittering Demo Day event at MaGIC Cyberjaya.
Battersby’s advice to aspiring entrepreneurs, “Don’t let people’s opinions sway you. Everything is an assumption until you have data to show as facts. Test, test, and keep testing!”