Petaling Jaya, 17 July – UMT Jaya Holdings Sdn Bhd (UMTJ), a wholly-owned subsidiary of Universiti Malaysia Terengganu (UMT), has entered into a Memorandum of Agreement (MoA) with Pitch Platforms Sdn Bhd (pitchIN) to bolster the fundraising capabilities of startup companies, particularly those born from UMT’s innovative research.
In a joint media statement, the partnership was heralded as a significant step towards enabling startups to secure funds through the pitchIN platform while receiving vital support and guidance throughout their fundraising journey.
UMTJ Chief Executive Officer, Dato’ Dr Ahmad Ramzi Mohamad Zubir, underscored UMT’s vast intellectual property portfolio, which includes patents, industrial designs, innovation utilities, trademarks, proprietary rights, and trade secrets, all primed for commercialization. “In 2023 alone, UMT registered a total of 60 intellectual property assets, including 40 products as proprietary rights, 13 as trade secrets, and 4 registered patents, with other categorizations of intellectual properties,” he noted.
Highlighting the underutilization of these intellectual assets, Dato’ Dr Ahmad Ramzi emphasized that their commercial potential represents untapped revenue for both UMT and Malaysia. The collaboration with pitchIN aims to bridge this gap by linking UMT’s startups with potential investors through the pitchIN platform.
PitchIN, a Digital Fundraising and Investment Hub, is recognized by the Securities Commission Malaysia as a Registered Market Operator (RMO). It offers both Equity Crowdfunding (ECF) and Token Crowdfunding (TCF) platforms. To date, pitchIN has successfully conducted 177 ECF campaigns, raising over RM325 million.
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Sam Shafie, CEO of pitchIN, expressed his enthusiasm for the partnership, stating, “We are delighted to collaborate with UMTJ to support the growth of startups originating from UMT’s research. This partnership not only expands access to alternative financing for UMTJ’s startup companies but also helps commercialize existing intellectual assets.”
In conjunction with this agreement, UMTJ’s startup companies will benefit from the Fundraising Accelerator (FA), an entrepreneurship program launched by pitchIN Academy in October 2022. This initiative aims to equip UMT startup founders with the knowledge and skills necessary to successfully raise funds for their businesses.
The signing ceremony was attended by notable figures including YBbhg. Dato’ Dzulkifli Mahmud, Chairman of the UMTJ Committee; YBrs. Prof. ChM Dr. Marinah Mohd Ariffin, Deputy Vice-Chancellor (Research & Innovation) of UMT; and Xelia Tong, COO of pitchIN.
