Source: Digital News Asia

Multimedia University (MMU) has signed an Memorandum of Understanding (MoU) agreement with venture capital firm, Vynn Capital to strengthen the startup ecosystem and enhancing the development of entrepreneurship among students.

In a statement, Mazliham Mohd. Su’ud, president of MMU said that the move was in line with the university’s goal of helping transform society through innovation.

“At MMU, we have seen first-hand that the younger generations can be very adept at leveraging the startup and entrepreneurship ecosystem. This is essential in creating more jobs in society, and will eventually bolster national economic development.”

He said the ecosystem will open up new business opportunities for the younger generations, which will address unemployment issues among graduates.

“As educators, we are aware that many of our students are already on this path and therefore believe that it is key to introduce our students to world-class entrepreneurship. From there, student have the option to adopt entrepreneurship and become job creators,” said Mazliham.

Through the MoU, MMU and Vynn Capital will explore areas of cooperation and business development and provide students and alumni with mentorship opportunities.

It will also prepare startups for investment and equity funding and explore the development of venture capital-related curriculum, MMU said.

“MMU has a good reputation in the industry for nurturing entrepreneurs and we are excited to be part of that experience.

“Based on its track record, we are confident that MMU and its students are capable of developing solid business enterprises with long-term potential,” said Victor Chua, founding and managing partner of Vynn Capital.

“As a venture capitalist, we think that it’s only natural for us to be in the picture from the very beginning as we believe that entrepreneurial culture can be nurtured through collaborative efforts between the education sector and the business world,” he added.

Through working with universities like MMU, it is empowering entrepreneurs and youth with capital and hands-on experience, Chua said.

Chua added that Vynn Capital will launch more initiatives to empower the education sector, thus enabling MMU and other institutions to get deeper into the entrepreneurship and venture capital industry.