KUALA LUMPUR, Jan 18 — Minister of Science, Technology and Innovation Chang Lih Kang said, as part of efforts to strengthen the innovation and start-up ecosystem, the government has rolled out a series of programmes aimed at empowering start-ups beyond the fintech space.
He said central to these efforts is the MYStartup programme, which offers targeted grants such as CIP Spark and CIP Sprint to eligible start-ups.
“To support this growth, we have implemented a range of initiatives aimed at empowering start-ups across various sectors, not just in fintech but also in other areas of technology.
“Through programmes like MYStartup, we provide grants such as CIP Spark and CIP Sprint to eligible start-ups. Additionally, we offer coaching and mentoring to help connect start-ups with potential investors and customers, further strengthening their networks and opportunities,” he told reporters at the launch of Versa Quest: A.I and Gamification to help young Malaysians adopt better financial habits here today.
CIP Spark is a conditional grant programme by Cradle Fund that offers up to RM150,000 to early-stage tech start-ups in Malaysia for product development and pre-commercialisation.
Similarly, CIP Sprint is another initiative by Cradle Fund designed to assist early-stage technology start-ups which provides funding and support to accelerate product development, enhance market readiness and boost commercialisation potential, helping start-ups move quickly from prototype to market launch.
CIP Sprint offers up to RM600,000 over 18 months to assist Malaysian technology start-ups in commercialising their products and services.
He said these initiatives align with the goals of the Malaysia Start-up Ecosystem Roadmap, which seeks to establish a robust start-up ecosystem by registering 5,000 start-ups by 2025.
He then went on to say, with 4,415 start-ups already registered, the nation is well on its way to meeting this target.
In his opening remarks earlier, Chang also applauded Versa’s effort to make wealth management not only accessible but also engaging by turning the world of investment into something interactive, rewarding and gamified.
He said by incorporating gamification into wealth management, Versa encourages users to earn points by completing financial actions, turning what was once a tedious task into an exciting and fulfilling experience.
“This innovative approach not only makes financial management more engaging but also fosters positive financial habits which is something we can all benefit from,” he said.
Chang also added that Versa’s collaboration with AHAM Asset Management exemplifies the power of partnerships by combining the stability and experience of an established institution with the creativity and agility of a start-up.
Versa is a rising financial technology company that helps individuals build better financial habits by providing seamless access to diverse investment opportunities through innovative, user-focused technology.
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