Budget 2025: MBAN applauds measures, asks for matching grant to further amplify early-stage funding

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Announced measures will strengthen Malaysia's Startup Ecosystem

Matching grant will spur more participation, increase investment pool The Malaysian Business Angel Network (MBAN) welcomed the recent Budget 2025 announcement, especially the establishment of a US$229 million (RM1 billion) National Fund-of-Funds allocation under Khazanah, alongside US$14.9 million (RM65 million) for Cradle Fund, describing this "as a pivotal step in empowering startups to expand both regionally and globally.”

Pointing to a recent 500 Global survey that Malaysia has over 30 "A1" grade startups, each generating more than RM5 million in annual revenue with over 20% growth, MBAN highlighted that access to funding remains a critical challenge with studies showing that inadequate financing is among the top three reasons for startup failures.[RM1 = US$0.229]

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Article Details

Author / Journalist: karamjit2

Category: EconomyStartupsBusiness

Markets: MalaysiaChina

Topics: Provide Recent Growth Early-stage Million Angel Support Matching Network Startups

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-29 @ 07:52:38 (3 days ago)

News Timezone: GMT +8:00

News Source URL: digitalnewsasia.com

Language: English

Article Length: 288 words

Reading Time: 2 minutes read

Sentences: 10 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Digital News Asia

News ID: 23323461

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Main Topics: EconomyStartupsBusiness

Official Website: digitalnewsasia.com

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