Maybank became the first bank to officially
formalise its partnership with Malaysian Global Innovation &
Creativity Centre (MaGIC) in efforts to further boost startups across
the ASEAN region.
Maybank will leverage on
MaGIC‘s expertise, regional reach and resources to nurture upcoming
local and regional startups. One of the key roles for Maybank is to be
the financial services partner for MaGIC’s ASEAN Centre of
Entrepreneurship (ACE), which is a startup support services platform
offering services such as legal advice, IP consultations, visa
applications and company secretarial services through its partners. This
platform will support Malaysian startups looking to expand into ASEAN countries and for ASEAN startups to expand into Malaysia.
MaGIC Chief Executive Officer Cheryl Yeoh said that this partnership will help in boosting the development of startups and social enterprise (SE) initiatives not only in Malaysia, but in the region. “We are pleased at this collaboration with Maybank – both as a main partner for our startup support services platform as well as providing the opportunities for fintech startups to grow locally and regionally. We are encouraged by the support we are seeing from the private sector and Maybank as one of the early driver for private sector opportunities,” she said.
In return, Maybank will act as an advisory partner to MaGIC’s Accelerator Programs and Academy, especially in building viable propositions in the context of regional opportunities in the financial services industry, help facilitate market validation and identify potential “go-to-market” partners.
Maybank's Amran Hassan, Head Corporate Development & Innovation said that Maybank has always placed importance in innovation as a key organisational competency that will help identify and shape new sources of competitive advantages. “The collaboration with MaGIC will allow Maybank to play a more prominent role in the supporting the start-up ecosystem regionally,” he said. "We have taken the market lead in the high-growth startup ecosystem as part of our efforts to support promising technology startups across the markets where we operate. We will continue to work with strategic industry partners in providing competitive platforms in our efforts to help build ASEAN into a global centre for innovation.”
MaGIC Chief Executive Officer Cheryl Yeoh said that this partnership will help in boosting the development of startups and social enterprise (SE) initiatives not only in Malaysia, but in the region. “We are pleased at this collaboration with Maybank – both as a main partner for our startup support services platform as well as providing the opportunities for fintech startups to grow locally and regionally. We are encouraged by the support we are seeing from the private sector and Maybank as one of the early driver for private sector opportunities,” she said.
In return, Maybank will act as an advisory partner to MaGIC’s Accelerator Programs and Academy, especially in building viable propositions in the context of regional opportunities in the financial services industry, help facilitate market validation and identify potential “go-to-market” partners.
Maybank's Amran Hassan, Head Corporate Development & Innovation said that Maybank has always placed importance in innovation as a key organisational competency that will help identify and shape new sources of competitive advantages. “The collaboration with MaGIC will allow Maybank to play a more prominent role in the supporting the start-up ecosystem regionally,” he said. "We have taken the market lead in the high-growth startup ecosystem as part of our efforts to support promising technology startups across the markets where we operate. We will continue to work with strategic industry partners in providing competitive platforms in our efforts to help build ASEAN into a global centre for innovation.”
