From the signing ceremony between the UMT and pitchIN
UMT Jaya, a wholly-owned subsidiary of Universiti Malaysia Terengganu (UMT), has partnered with the online crowdfunding platform pitchIN to support startups that result from research conducted by university lecturers and students.
This collaboration enables startups to raise funds through the pitchIN platform while receiving support and guidance throughout their fundraising journey.
UMTJ CEO Dato’ Dr Ahmad Ramzi Mohamad Zubir said UMT’s extensive intellectual property (IP) portfolio, comprising patents, industrial designs, innovation utilities, trademarks, proprietary rights, and trade secrets, is ripe for commercialisation. In 2023 alone, UMT registered 60 intellectual property assets, including 40 products as proprietary rights, 13 as trade secrets, and four registered patents, with other categorisations of intellectual properties.
Also Read: pitchIN Academy to offer content on alternative financing, investment in Malaysia
These IPs are underutilised and not generating commercial returns, which represents a loss for UMT specifically and the country as a whole. UMTJ will connect the university’s startups with potential investors via the pitchIN platform through this agreement.
pitchIN is a digital fundraising and investment hub registered as a Recognised Market Operator (RMO) with the Securities Commission Malaysia to offer both an Equity Crowdfunding (ECF) and Token Crowdfunding (TCF) platform. It has completed over 177 ECF campaigns and facilitated over RM325 million (US$69 million) in fundraising.
At the same time, this agreement also introduces the Fundraising Accelerator (FA) to assist UMT’s startups. FA is an entrepreneurship programme launched by pitchIN Academy in October 2022. This initiative will provide the necessary guidance on the knowledge and skills required for the UMT startup founders to raise funds for their businesses successfully.
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