Japan-based research group Leave a Nest and the Malaysian Research Accelerator for Technology and Innovation (MRANTI) are collaborating on the highly anticipated Global Market Fit Program (GMP) Japan to support high-growth startups seeking to expand their business presence in Japan.

The GMP, organized by MRANTI since 2020, has been a catalyst for numerous companies, fostering growth and establishing partnerships across six countries, MRANTI said in a statement on Thursday.

Now, in 2023, the program invites ambitious startups to apply and seize the opportunity to enter global markets, with Osaka and Tokyo as the selected destinations.

“GMP 2022 value creation for 18 companies was MYR 5.4 million ($1.16 million). This year, MRANTI is thrilled to assist 25 new innovative companies to embark on their next phase of growth,

“This initiative is poised to become one of Malaysia’s most prominent global market-entry programs, highlighting its significance this year,” said Dzuleira Abu Bakar, Chief Executive Officer of MRANTI.

The GMP is seeking companies prioritizing research and development (R&D) solutions with intellectual property registered in Malaysia or are majority Malaysian-owned.

Startups in various sectors, including manufacturing, robotics/drones, internet of things (IoT), artificial intelligence (AI), agri-tech, biotech, healthcare, med-tech, food-tech, care-tech, marine-tech and ecotech are encouraged to apply.

Selected participants in the program will have the opportunity to gain a significant program value.

Over a two to three month period, from August to November, participants will engage in a comprehensive series of physical and virtual workshops, match-making meetings, and
mentorship sessions.

The program will guide participants on localizing and validating their business models, strategizing their market entry, and preparing their products and solutions for needs analysis and value creation frameworks.

Additionally, participants will benefit from networking opportunities, gaining valuable business insights, and receiving technical support through one-on-one mentoring sessions from Leave a Nest ecosystem partners.

They will have the chance to meet with potential investors, industry associations, and prospective partners to explore collaboration opportunities and contracts during the validation trip to Tokyo and Osaka.

It is projected that each participating company will generate $109,000 in value creation over a span of 24 months, achieved through prototype contracts, development contracts, partnerships, intellectual property (IP) licensing, subscriptions, and other collaborations.

To be eligible for the program, companies must demonstrate a minimum revenue of MYR 1 million ($210,000), possess commercialized products with a minimum technical readiness level of 6 or higher, have a proven stream of business transactions, and maintain a solid financial record.

Applications for the Global Market-Fit program are now open, and interested startups can apply or inquire at www.mranti.my/gmp. The deadline for applications is July 30, 2023.

Earlier in June, Leave a Nest Malaysia and MRANTI, have officially signed a Memorandum of Understanding Japan.

The MoU signifies a significant milestone in promoting collaboration and advancing technological innovation between the two organizations.

It also highlights the significance of this partnership in fostering regional collaboration.

MRANTI is Malaysia’s central research commercialization agency that fast-tracks the development of technology innovations from ideas to impact.

Serving as a connector, incubator and catalyst to enable early-stage ideation to mature entities to commercialize and scale, MRANTI offers innovators and industry access to integrated infrastructure, interventions and programs, partnerships and a suite of resources.

In doing so, MRANTI aims to expand Malaysia’s funnel of innovation supply, and unlock new R&D value by ensuring effective transitions in the commercialization lifecycle.

It will also link academia with industry and the public sector to streamline market-driven R&D efforts for mission-based outcomes.

MRANTI partners pitchIN to boost Malaysian startups