KUALA LUMPUR: Ethis Group, through its subsidiary HASAN, has launched a program to empower new companies in the halal economy.
Known as HASAN Accelerator, the program is designed to drive innovation in the halal industry by providing capital and strategic support to startups. The program offers a holistic approach that combines financial assistance, strategic advice, and access to a large Muslim database.
With investments covering a variety of sectors from technology to halal lifestyle, HASAN Accelerator offers financing ranging from ASD60,000 to ASD250,000. Ethis Group’s Managing Director, Umar Munshi, said the program addresses the main challenges faced by Muslim startups by providing a comprehensive ecosystem in the halal economy.
“This digital platform is fully supported by Malaysia Digital Economy Corporation (MDEC) and the Securities Commission Malaysia (SC). The program will run for eight weeks, carefully selecting 10 startups each cycle to receive funding and ongoing support. The culmination of this program is the annual Demo Day where graduates can showcase their achievements to investors and financing partners,” he said.
Commenting on the target industry, he said they are open-minded with a focus on Islamic finance, halal food, and halal trade.
Meanwhile, according to the Head of Accelerator & Investor Relations in HASAN, Mohd Akhtaar, with extensive experience in the Islamic economy, it serves them as a hub for investors to penetrate this sector.
“With the launch of this program, HASAN sets a new standard in fostering the growth of startups in the halal industry, marking an important step in advancing this significant economy,” he said during the HASAN launch ceremony in Kuala Lumpur on Saturday.
The platform is scheduled to be available for access from mid-March. In addition to Malaysia, the platform is expected to penetrate several global markets such as Indonesia, Singapore, and the Middle East.
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