Cradle Fund and Bursa Malaysia to Empower Local Startups to Go Publicby Fintech News Malaysia September 11, 2023 0 comments
Bursa Malaysia has joined forces with Cradle Fund to build awareness among startups on funding opportunities available in Malaysia, including those offered by the equity market.
The bourse will analyse the data shared by Cradle and work with them to organise programmes that focuses on funding access.
Additionally, Bursa Malaysia will support Cradle in terms of knowledge sharing and help startups gain a better understanding of how the equity market can contribute to their growth.
This collaboration will also have them working together to facilitate early identification of companies with the potential for listing on Bursa Malaysia.
These initiatives will assist startups in planning their future growth and identifying the necessary funding to support their journey from the early stages to eventually becoming a public listed company.
This collaboration is an integral part of the Ministry Science, Technology and Innovation’s (MOSTI) Fund Funnel programme, which streamlines funding options and offer support to startups throughout their funding journey, from the seed stage to the initial public offering (IPO).
Incorporated under the Ministry of Finance Malaysia (MOF), Cradle has funded over 1,000 early-stage Malaysian tech startups in over 20 years.
Norman Matthieu Vanhaecke, Cradle’s Acting Group Chief Executive Officer said,
“Through this collaboration, we hope to empower startups to develop their comprehensive strategies, ultimately paving the way for a successful listing on the exchange while bridging critical funding gaps within the ecosystem.
By strategically aligning resources, expertise and collaboration, we create an enabling environment where startups can thrive, revolutionise industries and drive economic growth.”
Tan Sri Abdul Wahid Omar, Bursa Malaysia’s Chairman said,
“This collaboration reflects the Exchange’s intent to assist Cradle in building a thriving startup ecosystem by addressing a pain point commonly faced by local startups, namely in access to funding opportunities.
Together with Cradle, we are committed to alleviate this challenge and facilitate Malaysia startups in their funding journey with the goal of accelerating their growth, and enabling them to list right here within their home country.”