HASAN.VC proudly hosted its Halal Startup Showcase at the Securities Commission Malaysia building in Kuala Lumpur on July 13, 2024. The event featured 21 dynamic startups from its inaugural accelerator cohort, focusing on Southeast Asian ventures. This milestone underscores HASAN.VC’s commitment to pioneering Islamic finance and ethical entrepreneurship, reshaping the economic landscape with integrity and sustainability.
Addressing the need for ethical and sustainable businesses, HASAN.VC integrates a dedicated fund for its angel group and an accelerator to support and nurture startup founders. Grounded in ethical principles, HASAN.VC aims to create a better world by fostering an impact-driven ecosystem that drives positive change.
“At HASAN.VC, we believe startups can be a powerful force for good, benefiting society while being profitable,” stated Umar Munshi, Managing Partner of HASAN.VC. “We focus on supporting ‘Camel’ startups—those resilient in adverse conditions and capable of capitalizing on opportunities. These startups embody adaptability and resourcefulness, much like camels thriving in harsh environments. We aim to nurture these ventures, ensuring they have the support and resources needed to succeed.”
HASAN.VC’s accelerator program equips early-stage tech startups with essential tools, knowledge, and capital. Over the past eight weeks, participating startups underwent rigorous training, received invaluable mentorship, and built 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, newly promoted to Principal at HASAN.VC. “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 aimed to attract more investors for HASAN.VC’s cohort and pull in industry stakeholders who can further support these startups. The showcase drew a diverse audience, including angel investors, venture capitalists, institutional investors, and industry partners, emphasizing the growing momentum and support for ventures prioritizing ethical business practices and sustainability. A recording of the event will also be shared with HASAN.VC’s global angel group to access a wider base of capital.
As the global Muslim population expands, the demand for innovative, ethical, and Halal products and services grows. 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 vast opportunities for investors and entrepreneurs. At HASAN.VC, we bridge this gap by supporting Halal startups that align profitability with social impact and sustainability,” added Munshi.
HASAN.VC stands out for 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 distinguishing HASAN.VC includes over 50 years of combined startup and investment experience, deep networks 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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