Sarawak Digital Economy Corporation (SDEC) has announced the launch of the Malaysian Business Angel Network (MBAN) Sarawak Chapter, which aims to introduce the ‘angel investment’ concept to high net-worth individuals in the state.

Serving as a registration drive for the newly-formed association in line with the Sarawak Digital Economy Strategy and the Post Covid-19 Development Strategy (PCDS) 2030, MBAN’s key objective is to spur more angel investments and venture capital in the state, set to drive the growth of digital economy.

“Prior to the founding of the Sarawak Chapter, more than 100 high net-worth individuals have participated in learning more about angel investing through programmes jointly run by SDEC and MBAN. These include the online workshops on ‘Corporate Angel Investing’ and ‘Getting Started with Early Stage Investing’.

“We also previously held a ‘Coffee and Conversation’, in collaboration with Kuching Chinese General Chamber of Commerce and Industry (KCGCCI).

“These workshops were very popular, especially with the business and investor communities in Sarawak. It proves that Sarawakians are ready to embrace ‘angel investing’; thus, the establishment of the Sarawak Chapter of MBAN,” said SDEC said in a statement released yesterday.

The launch coincided with the Digital Village Accelerator (DiVA) initiative.

DiVA, which stands for ‘Digital Village Accelerator’, is a flagship programme under the Sarawak Digital Ecosystem, hosted at Tabung Ekonomi Gagasan Anak Sarawak (Tegas) Digital Village.

Targeting local start-ups, it meant to accelerate their growth and maturity, emphasising on increased revenue generation, market expansion and investment potential.

In this respect, five DiVA residents during the ‘Demo Day’ had presented their accomplishments to those attending, especially the ‘angel investors’ among the audience.

SiniSana, Timogah, UAS Mapping, Volume R&D and NEUON Ai are the DiVA residents that have received a developmental grant of RM150,000 each, meant to boost their growth and share the progress that they have made so far.

Meanwhile, the event also held the exchange of ‘term of reference’ documents between SDEC, Cradle Fund and MBAN. SDEC was represented by chief executive officer Sudanorto Osman, Cradle Fund by the acting chief officer Norman Matthieu Vanhaecke, and MBAN by its president Alan Lim.

Also present during the ‘term of reference’ documents exchange was chief scientist and chief advisor from the Sarawak government Prof Jugdutt (Jack) Singh, SDEC director Anne Kung, MBAN Sarawak chairman Dato Patrick Liew and Tegas chief executive officer Udin Bujang.

“The launch of MBAN Sarawak Chapter marks a significant event for the high net-worth individuals in Sarawak, with the introduction of angel investment concept.

“Vast potential will be created in benefitting the local community and ultimately, in favour of the ecosystem. Particularly targeting tech start-ups sector in Sarawak, MBAN Sarawak Chapter will become the vehicle to provide the necessary services such as consultancy, advisory, deal flow and more for its members, and in return, they enjoy the benefits and perks of becoming angel investors,” said Sudarnoto, also highlighting the formation of the association as ‘an essential step in motivating private sector’s participation in the development of the digital economy’.

Source:
courtesy of THE BORNEO POST

by Borneo Post Online

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