START UP NATION & KATHREIN VENTURES INVEST IN MAD INCUBATOR, MALAYSIA’S LARGEST PRIVATE INCUBATOR NETWORK
MALAYSIA, Cyberjaya – Malaysia’s Largest-Private Business Incubator and now, ‘SouthEast Asia’s Largest Business Incubator’, MAD Incubator (MAD) has secured an undisclosed sum of investments led by Singapore-based Start Up Nation’s Malaysian subsidiary, Start Up Nation Sdn. Bhd. (SUN) and joined by Kathrein Ventures Pte. Ltd. (KV), also based in Singapore.
The investment will be used to expand MAD to new markets and further establish MAD as the leading incubation play for SouthEast Asia with the mission to grow the startup ecosystem in SE Asia.
MAD and SUN inked an agreement for collaboration in 2013 and have been working together since the beginning of the year 2014. Their visions have grown even bigger, ever since the first MAD-SUN BUSINESS CHALLENGE series, a pitching challenge, that was held in MAD’s various co-working hubs in Malaysia, from Cyberjaya, Putrajaya, Penang, and finally in Petaling Jaya. Through the MAD-SUN alliance, close to thirty startups have been selected to launch and grow in the first six months of 2014 alone.
With this fresh round of investment, MAD has secured strategic partnerships with both SUN and KV for the coming years of growth. KV plans on playing an active role and working closely with both MAD and SUN on growing the startup ecosystem in SouthEast Asia.
Charles Kathrein, Jr., the Co-Founder & CEO of Kathrein Ventures (KV) also added “Kathrein Ventures was established because we saw tremendous opportunity in SE Asia. With the upcoming ASEAN Economic Community 2015 (AEC 2015), we feel that working with MAD and SUN will enable us to invest, mentor, and help grow the startup ecosystem in ASEAN ”.
About START UP NATION PTE LTD:
Start Up Nation (SUN) was established in 2011 with a focus on Investments, Acceleration, Social Impact, Digital Marketing, Consultancy and Web Communities. They are now operating in three countries and have successfully gained startup assets as well as networks in 22 countries.
About KATHREIN VENTURES:
Kathrein Ventures (KV) was established in 2013 to provide seed funding for startups in SE Asia and Latin America. KV is dedicated to supporting entrepreneurs who will shape the future and be tomorrow’s technology leaders.