HASAN.VC proudly hosted its Halal Startup Showcase at the Securities Commission Malaysia building in Kuala Lumpur on 13th July 2024, presenting 21 dynamic startups from its inaugural accelerator cohort focused on Southeast Asian startups. This milestone event underscored HASAN.VC’s commitment to pioneering a new paradigm in Islamic finance and ethical entrepreneurship, reshaping the economic landscape through the lens of integrity and sustainability.
HASAN.VC is addressing the critical need for more ethical and sustainable businesses to solve humanity’s challenges. Recognizing this, HASAN.VC has developed a comprehensive solution that integrates a dedicated fund for their angel group and an accelerator to support and nurture startup founders. Grounded in ethical business principles, HASAN.VC aims to create a better world by fostering an impact-driven ecosystem that activates communities and drives positive change.
“At HASAN.VC, we believe that startups can be a powerful force for good, creating solutions that benefit society while being profitable,” stated Umar Munshi, Managing Partner of HASAN.VC. “We are particularly focused on supporting Camel startups—those that demonstrate resilience in the face of adverse and challenging conditions and have the ability to capitalize on opportunities. These startups embody the spirit of adaptability and resourcefulness, much like camels, which thrive in harsh environments. We aim to nurture and help these ventures grow, ensuring they have the support and resources needed to succeed.”
HASAN.VC’s accelerator program is designed to equip early-stage tech startups with the critical tools, knowledge, and capital they need to thrive. Over the past eight weeks, participating startups have undergone rigorous training, received invaluable mentorship, and built enduring relationships with industry experts and investors. The showcase event highlighted the exceptional quality and dedication of the first cohort of startups.
“We are humbled by the faith these startups have placed in us,” said Mohd Akhtaar, who was promoted to Principal at HASAN.VC at this event. “Their innovation and dedication inspire us to continue supporting their journey towards success. By investing in these startups, stakeholders
contribute to a broader movement towards a just, sustainable, and inclusive global economy.”
The event was strategically organized to attract more investors for HASAN.VC’s cohort and to pull in industry stakeholders who can further support these startups. The showcase drew a diverse and influential audience, including angel investors, venture capitalists, institutional investors, and industry partners. Their presence underscores the growing momentum and support for ventures that prioritize ethical business practices and sustainability. A recording of the event will also be shared with HASAN.VC’s fast-growing angel group, which includes members from around the world to access a wider base of capital.
The demand for innovative, ethical, and Halal products and services is growing as the global Muslim population expands. According to the ‘State of the Global Islamic Economy Report 2023/24’ by DinarStandard, the Halal market, now exceeding $2 trillion, remains largely untapped. “This presents a vast ocean of opportunities for investors and entrepreneurs alike. At HASAN.VC, we are bridging this gap by supporting Halal startups that align profitability with social impact and sustainability,” added Munshi.
HASAN.VC stands out due to its robust selection process and strategic support. From hundreds of submissions, the top 43 startups were meticulously selected to join the accelerator program. Key factors that distinguish HASAN.VC include over 50 years of combined startup and investment experience, deep networks and relationships with over 60 million Muslims, and comprehensive support including strategic advisory services, mentorship, and market access.
Building on the success of the Kuala Lumpur event, HASAN.VC is set to host its second Halal Startup Showcase in Jakarta next month, featuring the remaining startups from its current cohort. This upcoming event will continue to highlight the groundbreaking work of HASAN.VC’s startups and their potential to drive significant positive change in the global Halal economy.
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