CEO Idzham says the collaboration marks a significant milestone in IIB’s efforts to drive digital innovation and foster entrepreneurial growth.
PETALING JAYA: Iskandar Investment Bhd (IIB), together with DHL and Thought for Food (TFF), has co-organised Match@Medini, a platform to support startup companies, especially in Iskandar Puteri in Johor.
IIB president and chief executive officer Datuk Idzham Mohd Hashim said the collaboration marked a significant milestone in IIB’s efforts to drive digital innovation and foster entrepreneurial growth.
“We are proud to host the Match@Medini platform which provides a comprehensive ecosystem where startups can interact with venture capitalists, investors and other key stakeholders. This platform also aims to give the startups access to funding, including from Khazanah Nasional Bhd’s Dana Impak.
“The startups must establish their presence in Medini and avail themselves to the supportive resources provided by IIB. They can position themselves for accelerated growth and seize the numerous opportunities available within Medini Iskandar Malaysia,” he said in a statement yesterday.
IIB aims to become the bridge between Malaysian startups and local and regional investors to facilitate access to funding.
IIB, an investment holding company, is jointly owned by national sovereign wealth fund Khazanah, the Employees Provident Fund and Kumpulan Prasarana Rakyat Johor.
The Match@Medini event yesterday attracted 20 startups that showcased their ideas to 22 venture capitalists, funding partners and corporations present, according to IIB.
Among them was Khazanah which has set up its RM6bil Dana Impak, a key pillar of its Advancing Malaysia strategy, to invest and support the local startup ecosystem of entrepreneurs, startups, venture capital (VC) and corporate venture programmes through collaborations with domestic and international partners.
Penjana Kapital, a RM600mil VC fund under the Finance Ministry, was also in attendance.
An initial amount of RM180mil has been deployed by Khazanah through its Future Malaysia Programme, which aims to support the local startup ecosystem by working with established local and international VC managers, as well as corporate venture programmes based in Malaysia.
A spokesperson from Greenbugs (a health food business that has set up in Medini), Ang Ker Soon, said the startup had managed to gain access to funding for the business through the Match@Medini initiative.
“This will serve as a catalyst for our growth and propel us towards new horizons. Together with our dedicated team, passionate stakeholders, and the backing of our investors, we are confident this will take us to greater heights,” he said in a statement.
