International technology firm Zoho Corporation has committed more than RM44 million in Zoho Wallet credits to fund 4,400 Malaysian startups as part of a strategic collaboration with Cradle Fund Sdn Bhd (Cradle).

As part of the collaboration, Zoho will extend its 'Zoho for Startups' initiative through Cradle's MYStartup single-window platform, an integrated platform that supports startup founders at different stages of their entrepreneurial journey. Malaysia is the second Asean nation to become eligible for the program, as part of Zoho's worldwide mission to empower startups with the tools and resources to build and grow their businesses.

The collaboration aims to bolster the startup ecosystem in Malaysia through the access to Zoho's full suite of business applications and its ability to drive innovation among early-stage businesses. Each startup that participates will be given one-year credits to have the flexibility to discover and implement tools best suited to their individual operational and growth requirements. Cradle Group chief executive Norman Matthieu Vanhaecke said startups grow faster when they are given the appropriate tools and a supportive ecosystem.

"Our partnership with Zoho is about making that possible, providing founders with simple access to world-class software solutions that can fuel their next big step", he says in a statement today.

"By the MYStartup Single Window platform, we are not merely bringing startups to the appropriate tools and resources-we are opening doors to worldwide opportunities and enabling them to build with confidence".

Zoho for Startups global head Kuppulakshmi Krishnamoorthy stated that the programme is a 'pull model' responding to the startup ecosystem's proactiveness and in line with Zoho's regional growth strategy.

"Malaysia is gradually concentrating on its innovation ecosystem, fortified with the support and allocation of funds by the government and the new policies in place".

"With the combined experience we have of operating the Zoho for Startups program in over 10 locations worldwide, including India, we are confident to make this partnership one of the most meaningful one for Malaysia", she added.

Since its launch in 2017, the Zoho for Startups program has interacted with more than 18,000 startups worldwide through meaningful partnerships with over 200 incubators, accelerators and startup-enabling organizations. In Malaysia, this access will be opened to startups by Cradle's extensive ecosystem of companies from early-stage to those who have already achieved Series B funding. Launch of the program will be conducted through multiple touchpoints, such as WhatsApp groups, email, events and social media to achieve maximum visibility and engagement.