press release

HASAN Sets Stage for Halal VC Fund and Accelerator Launch in 2024

Pioneering Next-Gen Startups in Halal Industries with Innovative Acceleration Programs.

Kuala Lumpur, February 17, 2024 – HASAN, an integral part of the Ethis Group, today unveiled its venture capital and accelerator program designed to propel startups in the halal economy. The HASAN Accelerator offers an engaging 8-week online program, set to run every six months for the next two years, focusing on key regions in the Muslim world. 

The initiative aims to empower innovative startups. Their approach is distinctively holistic, combining financial support with crucial strategic advisory services, mentorship and a large database of over 60 million muslims through its partners. Investments cover a range from tech to halal lifestyle, with funding between USD60K and USD250K. 

“We are leveraging a decade of experience in the Islamic economy and a strong network of institutional investors and industry leaders; which paves the way for HASAN to emerge as a central hub for both startups and investors in the halal sector,” stated Mohd Akhtaar, Head of Accelerator & Investor Relations at HASAN. “Our deep-rooted expertise positions us as a key player in nurturing growth and driving investment within the vibrant halal market.” 

“This integrated model addresses a key challenge faced by Muslim owned startups: the need for a comprehensive ecosystem within the halal economy that simultaneously provides capital and strategic guidance,” said Umar Munshi, Managing Partner of HASAN Venture Capital & Group MD of Ethis. 

By offering both, they effectively fill a critical gap, eliminating the common struggle startups face in separately seeking funds and advice. This makes HASAN’s initiative timely especially with the ongoing market correction, setting a new standard in startup support. 

The Accelerator is launching an 8-week online program specifically targeting scalable startups, carefully selecting top contenders. Each cycle, 10 startups will receive funding for an equity stake in line with global industry standards. Participants also gain from an ongoing support system, including biannual evaluations and backend management. The program’s highlight is an annual Demo Day, where graduates showcase their progress to a network of institutional and angel investors, as well as external funding partners. 

Through these initiatives, HASAN is committed to not just funding, but also actively nurturing startups in key emerging markets. 

For more information about HASAN Venture Capital and HASAN Accelerator, You can visit their website at:

About Ethis Group 

Ethis Group operates as a venture builder and a crowd-investment and social platform approved by regulators in Indonesia, Malaysia and Oman. 

Ethis has been operating for 10 years. We have our angel investor arm who are dedicated to Ethis’s goals and vision. Over the years, our Angel group expanded, forming HASAN as a venture capital and an accelerator in 2023. To date, we have invested in 15 startups and 2 funds that focus on SMEs. 

For muslim and ethical investors, investing in startups and companies that adhere to Islamic finance standards has grown in significance. Angel networks for halal investments offer a special chance to help new halal companies with bright futures. HASAN is standing at the crossroads of technological innovation and ethical investment. This community is designed to help investors who are eager to fund halal entrepreneurs and close the funding gap. 

We exist to #circulategood. Our deep desire to create a more ethical form of finance to uplift humanity has attracted significant finance and community leaders to support our vision and mission. 

For more information about Ethis and HASAN, please visit and

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