MRANTI opens applications to its Global Market Fit Programme
By Digital News Asia May 30, 2023
- Japan, Thailand, and Germany in 2023 destination schedule
- US$109k value creation expected per company across 24 months
The Malaysian Research Accelerator for Technology and Innovation (MRANTI) invites high-growth startups looking to expand their business presence in Japan, Germany and Thailand to sign up for its Global Market Fit Programme (GMP).
Applications are open with four cities on the 2023 destination roster, including Osaka, Tokyo, Berlin, and Bangkok.
“GMP is designed for companies geared up for the next growth stage. We are targeting to enlist at least 100 quality applications in 2023, making it one of the largest Malaysian innovation global market-entry programmes this year,” said Dzuleira Abu Bakar (pic), CEO of MRANTI.
MRANTI has been organising GMP since 2020. The programme has supported 62 companies across six countries and established partnerships with more than 22 organisations since it started.
This year, GMP is opening its doors to innovators with R&D solutions where the intellectual property is registered in Malaysia or the company is majority Malaysian-owned.
Companies with products and solutions in the Internet of Things (IoT), fintech and IT (Software as a Service), smart cities, machinery, health tech, smart manufacturing, agriculture, education, transport, food and beverage and mobility are encouraged to apply.
Selected companies participating in the programme stand to gain up to US$217,000 (RM1 million) in programme value.
Participants are expected to commit to a 2- to 3-month programme, which comprises a series of physical and virtual workshops and match-making meetings from July to October. Participants will be mentored on approaches to localise and validate their business model and strategise their market entry. This includes having the products and solutions lined up for a needs analysis, a value creation framework, a rubric for market expansion and more.
Participants will also be able to network and gain business insights and technical support through one-on-one mentoring sessions, meet investors, industry associations and prospective partners to explore contracts and much more.
Each company is expected to realise US$109,000 (RM500,000) in value creation across 24 months through prototype contracts, development contracts, partnerships, IP licensing and subscriptions, and other collaborations.
To participate, companies must demonstrate a minimum of RM1 million in revenue, with commercialised products (achieving a minimum Technical Readiness Level of 6 or more), having a proven stream of business transactions and possessing a solid financial record.
Apply or enquire now at www.mranti.my/gmp. Closing date: 30 July 2023.
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