Malaysian start-ups are getting renewed support from Cradle Fund (Cradle) and Bursa Malaysia as the two just inked a Memorandum of Collaboration (MoC) to raise the awareness of funding among these entrepreneurs.
This is specifically for those who are always on the lookout for funding and are considering the option ot be listed on the stock market. This includes getting funds from equity markets.
With this MoC, both Cradle and Bursa Malaysia can also start the process of early identifaction of potential companies that keen to be listed.
“Bursa will focus on two key areas with this partership — first, raise awareness of funding opportunities through knowledge and, second, identify the necessary assitance for start-ups and offering them support via advisers who can help them on their journey,” said Abdul Wahid Omar, Chairman, Bursa Malaysia.
In signing the MoC, both Bursa and Cradle aim to boost more initial public offerings (IPOs) from various sectors. From those many verticals, the two newly signed partners believe technology-related brands have the most potential to be publicly listed.
“Through this collaboration, we want to empower start-ups, help develop their strategies and, ultimately, pave the way for a successful listing on Bursa Malaysia. As this is a two-year programme, we have to cover critical gaps that are present in the funding ecosystem. By strategically aligning resources, expertise, and collaboration, we (can) create a (more) enabling environment where startups can thrive, revolutionise industries and drive economic growth,” added Norman Matthieu Vanhaecke, Acting Group CEO, Cradle.
As Cradle and Bursa Malaysia are very supportive with assisting SMEs, specifically through the Fund Funnel programme, it is clear that start-ups are now getting the assitance they sorely need. As an end-to-end initiative, it not only helps start-ups at the seed stage right up to being listed, but also provide all the relevant information that start-ups need to get their funding journey started.
Notably, as the two partners are linked to Malaysia’s Federal Government, there is no doubt that both will also provide clear details about funding platforms that are available for start-ups. It also shows that they are taking a more proactive approach to help Malaysia develop robust funding mechanisms that provides start-ups with full access to the necessary funding, mentorship, and sustainable services that can help them grow.
Chang Lih Kang, Malaysia Minister of Science, Technology, and Innovation (MOSTI), who had been present at the signing of the MoC shared how this collaboration is part of the Fund Funnel programme that MOSTI developed. Designed to streamline funding options, it offers comprehensive support to start-ups throughout their funding journey.
“By leveraging the strengths of agencies, like Cradle, and institutions like, Bursa Malaysia, we (can) enhance the ecosystem’s capacity to provide start-ups with the critical support that they need,” Chang said.
When paired with the Fund Funnel programme and the ongoing efforts of Cradle and Bursa Malaysia, start-ups will have a lot to look forward to in 2023 and beyod.