business

Aims to drive innovation and position Penang as a hub for early-stage startups The programme will boost investor numbers & capital, strengthening funding for startups Digital Penang, in collaboration with the Malaysian Business Angel Network (MBAN), has announced the launch of the Angel Investment Accelerator Programmea pioneering initiative designed to nurture a new generation of angel investors while bridging the critical funding gap for early-stage startups in Penang. The launch event and LOA exchange, held in Kuala Lumpur during the MBAN Summit 2025, marked the beginning of a three-month accelerator that will deliver structured training, mentoring and deal-flow opportunities for both aspiring and existing investors. By cultivating a skilled pool of local angel investors, the programme aims to fuel innovation, attract entrepreneurial talent, and position Malaysiaparticularly Penangas a premier hub for 01 startup growth and investment. An ongoing MBAN members survey of 59 respondents highlights the significant role angel investors play in the ecosystem. To date, they have deployed close to US$24 million (RM100 million) across 402 startup investments. The Angel Investment Accelerator Programme is designed to build on this foundation and act as a catalyst to increase both the number of active investors and the total capital deployed, ensuring a stronger pipeline of funding for promising ventures. Ng Kwang Ming, CEO of Digital Penang, emphasised the importance of the collaboration, “By building on our partnership with MBAN and nurturing more angel investors, we can unlock funding for early-stage ventures to drive Penangs digital economy and Malaysias economy more broadly.” Echoing this, Peter Wee, president of MBAN, said, “This collaboration with Digital Penang is a significant step forward for Malaysias startup ecosystem. The Angel Investment Accelerator is not just about trainingit is about connecting capital with innovation. We are creating a structured pathway for investors to learn, discover and fund high-potential startups, directly addressing the funding gap for early-stage growth.” According to Digital Penang, this partnership reflects a collective ambition to deliver tangible outcomes that benefit start-ups, businesses, investors and the future workforce in Penang, while building a stronger and more sustainable investment ecosystem for the state. The programme is open to aspiring and active angel investorsincluding high-net-worth individuals, entrepreneurs, professionals and executiveswho are keen to diversify their portfolios while supporting innovation. Participants will gain from structured learning, peer-to-peer networking, and direct engagement with Penangs growing startup community.