Zoho teams up with Cradle, pledges RM44mil to boost local startups
KUALA LUMPUR: Global technology company Zoho Corporation has pledged over RM44 million in Zoho Wallet credits to support 4,400 Malaysian startups, as part of a strategic partnership with Cradle Fund Sdn Bhd (Cradle).
Under the partnership, Zoho will expand its 'Zoho for Startups' program via Cradle's MYStartup single-window platform, an integrated hub that assists startup founders at various stages of their journey.
Malaysia is the second Asean country to gain access to the program, in line with Zoho's global mission to equip startups with the tools and resources needed to launch and scale their ventures.
The partnership aims to strengthen Malaysia's startup ecosystem by providing access to Zoho's comprehensive suite of business applications and fostering innovation among early-stage companies.
Each participating startup will receive credits valid for one year, allowing them the flexibility to explore and adopt tools tailored to their specific operational and growth needs.
Cradle Group chief executive officer Norman Matthieu Vanhaecke said startups tend to grow faster when equipped with the right tools and supported by a conducive ecosystem.
"Our collaboration with Zoho is all about making that happen, giving founders easy access to world-class software solutions that can power their next big leap," he said in a statement today.
"Through the MYStartup Single Window platform, we are not just connecting startups to the right tools and resources-we are opening doors to global opportunities and helping them build with confidence."
Zoho for Startups global head Kuppulakshmi Krishnamoorthy said the program follows a 'pull model', responding to the proactiveness of the startup ecosystem while aligning with Zoho's regional growth strategy.
"Malaysia is steadily focusing on its innovation landscape, strengthened by the support and budget from the government and the new policies in place.
"With the collective experience we have of running the Zoho for Startups program in more than 10 locations across the world, including India, we are poised to make this collaboration as one of the most impactful one for Malaysia," she said.
Since its inception in 2017, the Zoho for Startups program has engaged with over 18,000 startups globally through impactful partnerships with more than 200 incubators, accelerators and startup-enabling organisations.
In Malaysia, this opportunity will be extended to startups with Cradle's expansive ecosystem, which includes companies ranging from early-stage to those that have reached Series B funding.
Promotion of the program will be carried out through various touchpoints, including WhatsApp groups, emails, events and social media to ensure broad visibility and engagement.
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