Malaysia aims to achieve a Top 20 Global Innovation Index position by 2030, aiming to bridge the innovation divide among middle-income economies.
PitchIN, Malaysia’s Digital Fundraising and Investment Hub, and the Malaysian Research Accelerator for Technology & Innovation (MRANTI), a commercialization catalyst in the technology and innovation ecosystem, have announced a strategic partnership to transform the investment environment for Malaysian startups and spinoffs.
The two organisations said in a statement on Tuesday that their partnership will allow Malaysian startups and spinoffs to raise capital through pitchIN’s powerful platform while also benefiting from invaluable support and advice from MRANTI during the fundraising process.
The partnership between MRANTI and pitchIN positions regulated alternative financing and investments as the preferred option for businesses as well as investors in Malaysia, where alternative financing raised MYR 1.7 billion ($370 million) in 2022 compared to MYR 1.3 billion ($280 million) from venture capital funding.
Malaysia aims to achieve a Top 20 Global Innovation Index position by 2030, aiming to bridge the innovation divide among middle-income economies. The country’s bright talent and potential require refining, according to CEO Dzuleira Abu Bakar of MRANTI.
The partnership between MRANTI and pitchIN aims to establish a vibrant environment for innovation, improving Malaysia’s standing on the global innovation index. The collaborations will change the investment landscape, democratise access to capital, and fuel the growth of startups and spin-offs by adding value to the growth cycles of start-ups. With a focus on cutting-edge innovation and cutting-edge technologies, startups are essential for the economy.
Startups are better able to turn a concept into a product and update it in response to customer demand with more rapid decision-making and communications because they are more agile. In essence, they increase the likelihood that innovations will be commercialised as well as the development of impact technologies, she continued.
For founders with little or no experience obtaining funding from outside investors, pitchIN offers the Fundraising Accelerator (FA). It offers in-depth education on fundraising methods and information. pitchIN has completed six cohorts since its November 2021 launch and has expanded to Kuala Lumpur, Penang, and Kuching in Sarawak.
This year’s objective is to assist 15 MRANTI tech startups in obtaining funding from investors in exchange for equity stakes in their businesses.
With an impressive MYR 297 million ($63.83 million) in funding raised by 163 companies since 2016, pitchIN stands out for its track record of success.
Additionally, pitchIN’s Fundraising Accelerator (FA) programme has already cultivated over 60 businesses and 120 founders, giving them the knowledge and contacts needed to start their own businesses.
Sam Shafie, chief executive officer of PitchIN, stated that pitchIN is eager to collaborate with MRANTI on this programme.
“The participants in our FA programme will learn important information and the nuances of fundraising. For growth and expansion, all startups require funding, he claimed.
He claims that the majority of Malaysian startups will benefit from learning about important topics covered in its programme, such as company valuation, legal, due diligence, deal structuring, and funding sources. He bases this claim on his experience running the pitchIN equity crowdfunding platform.
All members of our FA cohorts also get priority access to our expertise in equity crowdfunding and specialised fundraising advice, he continued.
In order to promote growth and offer comprehensive support to startups and spinoffs, a number of important initiatives will be implemented as part of this transformative partnership.
The purpose of the capacity building programs is to provide Malaysian start-ups and spin-offs with the knowledge and abilities they need to raise capital.
MRANTI and pitchIN will offer businesses platforms for equity crowdfunding and fundraising tools to draw in investors.
In order to promote a quad helix model that encourages innovation and facilitates seamless cooperation between all stakeholders, the partnership will foster collaboration between the private, public, government, and civil society sectors. By working together, we can build a dynamic ecosystem that encourages creativity and effective communication among all parties.
MRANTI and pitchIN will work together to provide startups and spinoffs with legal, marketing, and financial experts, enhancing their fundraising techniques and promoting entrepreneurship in Malaysia. Through this partnership, MRANTI will be better able to act as a catalyst and connector in the startup ecosystem, resulting in a more effective campaign strategy.
Interested startups can now submit an application for the Funding Accelerator Program, which will run from July 24 to July 26, at https://academy.pitchin.my. The application deadline is July 17, 2023.