It will use the funds to expand into new markets. Currently, MAD Incubator is in home country Malaysia, Brunei, Indonesia and the Philippines
Malaysia-based business incubator MAD Incubator (MAD) today announced securing an undisclosed sum of funding led by the Malaysian subsidiary of Singapore-based Start Up Nation, with participation from Singapore-based Kathrein Ventures.
MAD will use the funds to expand into new markets and position itself as “the leading incubation play for Southeast Asia”. At the moment, the incubator has expanded to three other Southeast Asian countries, namely Brunei, Indonesia and the Philippines.
Founded in 2009, MAD has incubated more than 80 companies, including Malaysia-based restaurant booking website Tableapp. In addition, it is supporting more than 200 companies through its BizStart programme, which brings in coaches from the entrepreneurial space to help budding founders.
Going forward, there will be more strategic partnerships between the three parties. One can imagine that if Start Up Nation, Kathrein Ventures and MAD will work together and combine their strengths, there will be a visible increase in the number of startups in the region, especially with proper mentors and investment.