KUALA LUMPUR: The Ministry of Digital calls on the Securities Commission Malaysia (SC) to extend the GROWMatch matching platform to all industries to address the financing gaps faced by micro, small, and medium enterprises (MSMEs).
Digital Minister Gobind Singh Deo launched GROWMatch, an initiative by the SC to address the financing gap faced by agri-business entrepreneurs and promote sustainable growth in the sector.
The initiative, aligned with SC’s Five-Year Roadmap (2024-2028), taps into equity crowdfunding (ECF) and peer-to-peer financing (P2P) platforms for MSMEs in strategic and underserved sectors.
During today’s launching event, Gobind said the GROWMatch platform is designed to enhance the agri-financing ecosystem by enabling entrepreneurs to connect and pitch their ventures to potential investors in the alternative financing sector.
He said it also aims to help younger and early-stage companies access capital relevant to their business risk profiles.
‘In addition to GROWMatch, I hope to see mor
e of such matching platforms across all industries and sectors. Such platforms create hope and new opportunities and, in return, have the capability to strengthen the nation’s economy further.
‘Judging by the success of this programme, perhaps the SC can expand this to MSMEs beyond the agriculture sphere,’ he said.
Meanwhile, the minister also witnessed the signing of a memorandum of understanding (MoU) between SC and Malaysia Digital Economy Corporation (MDEC), Selangor Information Technology and Digital Economy Corporation (Sidec), Universiti Putra Malaysia and Impact Circle.
The MoU seeks to promote food security self-sufficiency through alternative financing by combining diverse expertise to develop, incubate, and finance opportunities that support agripreneurs in scaling their businesses.
‘This collaboration between various ministries and agencies will certainly help agriprenuers in their business ventures. This will, in return, not only help expand the agriculture sector but also the digital sector
in Malaysia,’ said Gobind.
Source:BERNAMA News Agency