MYStartup, an initiative held by the Ministry of Science of Technology and Innovation (MOSTI) and Cradle Fund Sdn Bhd (Cradle) in Malaysia, has partnered with Malaysian firms Maxis, Petroliam Nasional Berhad (Petronas), Cyberview and airasia academy to foster growth in Malaysia’s startup ecosystem.

MYStartup said in a statement on Wednesday that it has inked strategic partnerships with the companies.

It said the collaborations with these companies mark a significant milestone in developing the local startup ecosystem, paving the way for exponential growth as it nurtures a culture of innovation in Malaysia.

As part of MYStartup’s efforts in building up and strengthening the Malaysian startup ecosystem, major corporations have been identified as strategic partners to ensure the ecosystem’s holistic growth.

The series of Memoranda of Understanding (MoUs) were signed since early 2022 as MYStartup reaffirms its commitment to providing a platform for entrepreneurs and startups to grow and scale.

MYStartup said that these dynamic and impactful partnerships will not only enrich the funding landscape in the country but will also open doors for the ecosystem to thrive regionally and globally.

Ahmad Kashfi Alwi, Senior Vice President, Ecosystem Development, Cradle, said the collaborations with the companies signify a collective commitment to fostering the growth and success of startups in Malaysia.

“By leveraging each partner’s expertise, resources and networks, we can create an enabling environment where startups can thrive, innovate, and make a lasting impact,” he added.

According to the statement, collaborating with Maxis provides startups with opportunities to engage in Maxis-organized programs and engagements, fostering potential commercial partnerships and project developments.

Moreover, startups participating in the MYStartup Accelerator Program will have the chance to connect with Maxis for future business and potential funding opportunities.

Startups in the emerging fields such as artificial intelligence, machine learning, smart city and education
technology also stand to gain from increased brand visibility across corporate platforms.

“We are excited about the partnership with MYStartup, which aligns with our commitment to supporting innovation and driving digital transformation in business across Malaysia,

“Through this collaboration, we aim to foster a vibrant startup ecosystem, nurturing the next generation of entrepreneurs and contributing to the nation’s digital economy,” said Loh Keh Jiat, Chief Marketing Officer, Maxis.

Meanwhile, the partnership with Petronas opens up opportunities for startups in Malaysia to access their go-to-market platform via the Petronas FutureTech Accelerator Program, allowing them to achieve improved funding and investment opportunities and any technology acquired.

Furthermore, the MoU signed also raises potential for startups in the MYStartup ecosystem to collaborate with corporate partners under the Petronas FutureTech 3.0 program, such as Tenaga Nasional Berhad (TNB), DRB-HICOM, Gentari, Khazanah Nasional, Sembcorp, Hyundai Motor Company and Vitol, in addition to benefitting from potential investments of the local and regional venture capital firms.

“As a catalyst for progress, we at Petronas are constantly finding ways to support the growth of startups in Malaysia,” said Arni Laily Anwarrudin, Head of Petronas Ventures.

According to her, the firm’s partnership with MYStartup is the perfect example of this.

“We believe that by working together, we can create a conducive environment for startups to thrive while driving technology adoption and business transformation,” she added.

Cyberview, the force behind Cyberjaya’s rapid development, also offers various perks and benefits to the startups under the new partnership.

These include special rental rates within Cyberjaya premises, and as access to various opportunities for business growth and expansion.

On top of MYStartup’s platform facilitating networks and connections with potential investors and business partners, through Cradle and Cyberview, startups will also be able to connect with angel investors from the Malaysian Business Angel Network (MBAN), opening doors for potential funding opportunities.

Started in December 2022, MYStartup’s partnership with airasia academy will also make knowledge and education fundamentals more accessible to its startup community, helping entrepreneurs and startups accelerate their upskilling efforts through accessible guided learning content.

Through airasia academy’s on-demand learning programs, startups will gain access to learning content that were designed to accelerate their growth.

The instructor-led training courses also offer certification modules covering crucial areas such as Digital Marketing, Cybersecurity and Software Engineering.

This partnership empowers startups with the knowledge and skills necessary to thrive in today’s competitive landscape.

MYStartup Strategy consists of several programs which aim to strengthen the startup ecosystem and community in Malaysia.

Among them are the MYStartup Roadshow, MYHackathon, MYStartup Pre-Accelerator, MYStartup Accelerator, MYStartup Internship and MYStartup Mentorship.

The programs aim to ensure startups are thoroughly guided starting from the ideation stage, trained, supported and have the opportunity to highlight their company profile to attract foreign investors.

The MYStartup Program is part of the Malaysian Startup Ecosystem Roadmap (SUPER), while Cradle as the focal point agency for the startup ecosystem which has been mandated to ensure that this strategy benefits the startup ecosystem as a whole.

This effort is also in tandem with MOSTI’s target of creating 5,000 start-ups and producing five unicorn-status companies by 2025.

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