MARii and FCV to enhance SME fundraising and tech commercialisation opportunities through VC funding
The Malaysia Automotive, Robotics and IoT Institute (MARii) and Ficus Venture Capital (FVC) signed a Memorandum of Understanding (MoU) to develop funding opportunities for start-ups and small & medium enterprises (SMEs), today.
The MoU will see both parties working closely on the development of a Venture Funding Network for technology related businesses, create greater market access for local technology companies, provide thought leadership and guidance for SMEs, as well as the development of technology and intellectual property commercialisation funding.
"Long term sustainability of any business has always lied in the development of core technological strengths. MARii's position for development of business capabilities is to put them in a position of such strength so that they allow their capabilities to shine when it is time to increase funding for expansion", said Dato' Madani Sahari, MARii CEO.
"However, in times where competition for funding is getting fiercer by the day, this MoU completes our ecosystem for a comprehensive business development framework. It complements MARii's arsenal of capacity building programmes by enhancing access for businesses to raise funds to ensure scalability", he added.
Since MARii's rebranding from the Malaysia Automotive Institute (MAI) in 2019, the agency has spent significant resources on enhancing technology development across a larger number of sectors, in order to accelerate digitalisation across all business segments.
In 2019, MARii launched the Technopreneur Development Programme (TDP) and the MARii Intelligent Technology Platform (MITP) to allow businesses, particularly SMEs to enhance their internal technological capabilities towards digitalisation, by implementing business strategies driven by data and digital technology within their operations, finances and market development.
Through this MoU, both parties will identify potential technology companies to be considered for venture capital funding, either directly by FVC, or by other funding partners. An initial commitment of RM30 million has been secured for the initiative, from various investing parties.
“The partnership with MARii is very important for us because in addition to gaining a partner for venture capital funding we also gained a very credible organizational partner that has cutting edge knowledge in the area of technology”, said Baiza Bain, the Managing Partner for Ficus Venture Capital.
The two parties will also collaborate to connect companies to market opportunities within the greater ASEAN market, and collaborate on thought leadership and education initiatives to assist Startups and SMEs to raise venture funding for business expansion.
The MoU will also see both parties working together to develop technology and intellectual property commercialisation for technologies developed by Malaysian institutions of higher learning.