Khazanah Nasional Bhd, the Malaysian sovereign wealth fund, has launched the Future Malaysia Programme to support the local start-up ecosystem. The program is part of Khazanah’s Dana Impak mandate, an RM6 billion commitment over five years to invest in six themes that address the nation’s issues and challenges, including digital society and technology, quality health and education for all, and food and energy security.

The Future Malaysia Programme aims to deploy approximately RM180 million by working with established local and international venture capital managers and corporate venture programs based in Malaysia. Khazanah is partnering with venture capital funds Gobi Partners and 500 Global, which have an extensive investing track record and expertise in value creation in Malaysia. In addition, Khazanah is establishing a partnership with Plug and Play, a leading global innovation platform, to set up a Malaysia-based corporate innovation and accelerator program involving leading Malaysian corporates.

The start-up ecosystem is an essential source of entrepreneurship, employment, innovation, and investment for the nation, said Khazanah managing director Datuk Amirul Feisal Wan Zahir. He added that many potential solutions to the challenges identified under the Dana Impak themes can be found in early-stage companies that require an injection of risk capital at different stages of the venture and to scale innovation and business.

We hope this initiative can potentially help the growth of IoT startups in Malaysia. The injection of risk capital at different stages of the venture can enable startups to develop and scale innovative IoT solutions that can contribute to the Advancing Malaysia strategy’s six themes. Working with established venture capital managers and corporate venture programs can also provide startups with valuable resources and expertise in value creation, which can be crucial for their success.

The corporate innovation and accelerator program involving leading Malaysian corporates can provide startups access to a vast network of resources, including funding, mentorship, and business opportunities. Overall, this initiative can significantly boost the Malaysian start-up ecosystem, enabling it to thrive and compete in the global market.

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