Malaysian youth-led social enterprise ramps up global funds raised by ECF
- Accelerate Global is one of only three social enterprises known to raise funds through equity crowdfunding in Malaysia
- Despite a long global pandemic, Accelerate Global still managed to raise funds above its minimum target.
KUALA LUMPUR – Accelerate Global, a youth-led social enterprise that tackles youth unemployment issues through skills development programs, managed to surpass RM 470,000, above the minimum target through Ethis Malaysia , the only Sharia-compliant ECF platform registered with the Securities Commission Malaysia. This makes it the third known Malaysian social enterprise to have run a successful crowdfunding campaign since 2017, and the only one to have done so successfully during the COVID-19 pandemic period.
Their campaign lasted 90 days and garnered the support of 69 investors from around the world, including Singapore, Malaysia, China, Italy, Indonesia, Croatia, Australia, Algeria, India, France and the UK, putting Accelerate Global on a trajectory of creating lasting change in the lives of young people, especially those who are marginalized and disadvantaged.
“The funding will be used to digitize all of our development programs and store them on our own online learning platform. We have found that after running Accelerate for 2 years, most young people are eager to learn but are often reluctant to take this opportunity, either due to lack of funding or simply lack of time. I knew then that it was time to convert our live programs into self-paced learning programs and also roll out our 1: 1 business model so that no youngster is left behind. Exciting times to come. My team and I can’t wait to get this started! “.
The 1: 1 business model should be a game changer, because for every subscription paid, an underprivileged youth will have access to Accelerate’s programs. This youth-run social enterprise has been around for two years and its model of development impact of young self-employed and independent entrepreneurs and youth is proven as all of their graduates are now successfully running their own businesses or have found employment. To date, they have directly reached over 5,000 cumulative youth across all of their programs and that number is expected to grow exponentially over the next few years with the launch of their digital platform.
Accelerate Global also represents the first social enterprise ECF campaign on the Etthis Malaysia platform, underpinning Ethis’ ambition to circulate well by offering investors the opportunity to invest in companies with high social impact.
“Accelerate Global’s fundraising success has garnered support from Malaysians and investors from 10 other countries. This signifies the strength of their value proposition not only at home but also abroad. I am confident that Accelerate Global will continue to grow more and more and expand beyond what they have done so far by creating a positive impact on society with their business operations, ”said Wan Mohd Dazriq Wan Zulkiflee, CEO of Ethis. Malaysia.
“Ethis will continue to support fundraising efforts for impact businesses and social enterprises such as Accelerate Global for institutional and retail investors, as this goes hand in hand with Ethis’ good ambition in the real economy. . For investors, this gives them the opportunity to amplify their investments beyond monetary returns but also into investment considerations that create a positive impact on society. As such, this is why it is crucial for us to support Malaysian social enterprises and SMEs on their growth journey so that they can continue to grow and expand their business impact for the greater good of the world. society and the beneficiaries they support. As the backbone of our economy, SMEs and social enterprises such as Accelerate Global are essential for the growth of the Malaysian economy and the development of the nation’s socio-economic agenda, ”he said. .
ABOUT ACCELERATE GLOBAL
Accelerate Global is a social enterprise aimed at tackling youth unemployment issues through skills development programs, developing young people to become their own entrepreneurs and providing young people with ready-to-use skills. We work closely with the marginalized and the disadvantaged and our core value is humanity first, always. Three of our flagship programs include the Accelerate Reach Entrepreneurship program, the 14 day entrepreneurship boot camp as well as the 5 day career boot camp.
Our work to improve the skills of young people, bring about tangible and meaningful changes in their lives is recognized not only by the media such asThe Vulcan post and The star but also by Jabatan Politeknik dan Kolej Komuniti Malaysia as we were called during the movement control order to present the success of our 14 day virtual entrepreneurship training camp with B40 polytechnics youth.
Some of our successes and impact include securing funding from theAmerican Chambers of Commerce of Malaysia and Micron Malaysia allowing us to turn 43 stateless youth from Sabah into micro-entrepreneurs who now run their own pineapple jam business calledThe Nanas laboratory. In addition, as part of a program supported by Yayasan Hasanah, PwC Malaysia and private donors, 19 young refugees from Yayasan Chow Kit also graduated with their own business!
ABOUT ETHIS GROUP
Ethis Malaysia, a Securities Commission Malaysia Approved Recognized Market Operator (RMO), is part of Ethis Group which operates regulator-approved investment platforms in Indonesia and Malaysia, as well as the GlobalSadaqah charity platform.
Our platforms serve ordinary people, high net worth individuals, businesses and government entities. Etthis built its initial 2016-2020 track record in social housing in Indonesia, where our global community of investors from over 50 countries funded development projects to build nearly 10,000 homes.
Since the onset of COVID-19, we have launched popular new investment products, including short-term, high-yield supply chain finance projects in Indonesia and equity investments in startups. future tech ”in Malaysia. Our GlobalSadaqah social finance marketplace plays an essential role in connecting donors and actors in the Islamic economy to better distribute social finance and zakat to NGOs and social enterprises.
We exist to #circulerbien. Our deep desire to create a more ethical form of finance to uplift humanity has attracted important financial and community leaders to support our vision and mission.
For more information on Etthis Malaysia, please visit https://ethis.co/my
For media inquiries, please contact:
Anis Shakirah Mohd Muslimin
Marketing, branding and communication manager
Ethis Ventures Sdn Bhd
Email: [email protected]
Phone. : +6011 1639 0920
© Press release 2021