Selangor Journal

MRANTI, pitchIN team up to drive growth of startups in Malaysia

KUALA LUMPUR, July 4 — Startups and spinoffs will be able to raise investments through digital fundraising and investment hub pitchIN’s platform while receiving support and guidance from the Malaysian Research Accelerator for Technology and Innovation (MRANTI) throughout their fundraising journey.

This follows the strategic partnership announced by the two organisations today that positions regulated alternative financing and investments as the preferred option for businesses and investors in Malaysia.

In a joint statement, they said the target this year is to boost 15 tech startups from MRANTI by raising funds from investors in exchange for a stake (equity) in the businesses.

MRANTI chief executive officer Dzuleira Abu Bakar said the collaboration between the research and innovation commercialisation agency and pitchIn will pave the way for a vibrant and dynamic innovation environment, enhancing Malaysia’s position on the Global Innovation Index.

“By value-adding to the start-ups’ growth development cycle, we are effectively raising their value and impact.

“Through this partnership, we are poised to transform the investment landscape, democratise access to capital, and drive the growth of startups and spin-offs in the country,” she said.

The statement noted that alternative financing has surpassed venture capital funding in Malaysia, raising RM1.7 billion in 2022 compared to RM1.3 billion from venture funding.

“Distinguished by its proven track record, pitchIN has facilitated the successful fundraising efforts of 163 companies, collectively raising an impressive RM297 million since 2016.

“Furthermore, pitchIN’s Fundraising Accelerator programme has already nurtured over 60 companies and 120 founders, equipping them with the skills and connections to embark on their entrepreneurial journeys,” it said.

— Bernama

Top Picks

BAC 2024: Aaron-Wooi Yik to face Sze Fei-Nur Izzuddin for a place in final

King expresses hope for increased investment from Chinese companies in Malaysia

Japan’s population falls for 13th straight year, drops below 125 mln