SIGNING CEREMONY OF PARTNERSHIP AGREEMENT BETWEEN UNIVERSITI MALAYA INNOVATIONS (UMI) AND PITCHIN

PETALING JAYA, 18 December – UM Innovations Sdn. Bhd. (UMI), a wholly-owned subsidiary of Universiti Malaya (UM), today signed a Partnership Agreement with Pitch Platforms Sdn. Bhd. (pitchIN) to support the journey of UM’s startup companies, particularly those stemming from research by UM lecturers and students.

In a joint media statement released today, this collaboration enables startup companies to raise funds through the pitchIN platform while receiving support and guidance throughout their fundraising journey.

Pictured from left to right: Kashminder Singh, CSO and co-founder, pitchIN; Sam Shafie, CEO & co-founder, pitchIN; Md Zubir Ansori, chairman, UMI; Asbullah Adnan, acting group CEO, UMI and Raja Ridzwa Aziz, board member, UMI.

Saiful Khairi Zainuddin, COO of UMI, said “UMI’s primary objective is to commercialize R&D and innovation output of UM through the establishment of spin off companies and incubatees within the UM ecosystem. UMI’s role as a Venture Builder is to identify and develop business and investment opportunities to enable UM’s commercial venture’s growth and sustainability and this Partnership with pitchIN is an example of such opportunity.”

To harness the wealth of innovations and intellectual assets being generated, UM is uniquely positioned to support startups by providing them with valuable opportunities. Through this partnership agreement with pitchIN, UM can now not only secure funding but also engage the public in supporting these ventures through crowdfunding. This partnership opens new avenues for UM spinoffs to thrive and fosters a vibrant entrepreneurial ecosystem.

pitchIN is a Digital Fundraising and Investment Hub that is registered as a Recognized Market Operator (RMO) with the Securities Commission Malaysia to offer both an Equity Crowdfunding (ECF) and Token Crowdfunding (TCF) platform. With over 180 successful ECF campaigns under their belt and more than RM338 mil raised, pitchIN continues to reach new milestones and set records through their platform. 

Sam Shafie, CEO of pitchIN, said, "We are pleased to partner with UM to support the development of startups arising from its research. We see this collaboration expanding access to alternative financing for UM's startups and aiding in the commercialisation of existing intellectual assets."

UM’s 1st spinoff that will be raising funds on pitchIN will be Xcess Pressure. The founder, Dr Iswadi Jauhari, developed the Super Butterfly hydropower system that harnesses the excess water pressure in pipes to generate clean electricity. They have formed strategic partnerships with water operators from most states in Malaysia, their most prominent being Air Selangor, having just finished a pilot project that succeeded; as well as Pengurusan Aset Air Berhad (PAAB), the developer and financier of Malaysia’s water infrastructure.

Lastly, this agreement also introduces an initiative to assist UM’s spinoff companies like Xcess Pressure through the Fundraising Accelerator (FA), an entrepreneurship program launched by pitchIN Academy in October 2022. This initiative will provide the necessary guidance on the knowledge and skills required for founders to successfully raise funds for their businesses.

Present were Datuk Md Zubir Ansori bin Yahaya, Chairman of UMI, YYM Raja Ridzwa bin Raja Abdul Aziz, Director of UM Holdings Sdn. Bhd. (UMH), En.Saiful Khairi Zainuddin, COO of UMI, Sam Shafie, CEO and Co-founder of pitchIN, Xelia Tong, COO of pitchIN and Nicholas Chong, Vice President (Commercial and Products) of pitchIN.