Several startups are in discussions to tap on Plug & Play Malaysia‘s funding and connections with overseas investors, reported Bernama. Plug & Play Malaysia, also known as Real Plug & Play, is a combination of an incubation centre and a business development ecosystem.
The company is wholly owned by PKNS Holdings, and a licensee of the Plug & Play Techcenter, a thriving global community of over 300 startups. Real Plug & Play was set up by PKNS to address local startups’ lack of expertise in pushing themselves to the technology market and lack of access to funding for commercialization of their product towards regional success.
Lack of funding is also another concern. “Most of the venture capital providers in Malaysia are government agencies that are adverse to big risks. But startups cannot afford to go global themselves, due to the high cost involved,” explained Radha Nadarajah, head of special projects at PKNS.
He added that while local venture capitalists are around, they are usually housed within large corporations and fund innovations within the company.
Training sessions will also be held to coach startup founders on how to pitch their technologies to investors.
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