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Allianz, Impact Hub collaborate to assist social entrepreneurs
Published on: Saturday, November 11, 2017

PETALING JAYA: Allianz Malaysia Bhd (Allianz) is collaborating with Impact Hub Kuala Lumpur (IHKL) to aid Malaysian social entrepreneurs through their inaugural Investment Ready Programme (IRP) in Malaysia.

In a statement Friday, Allianz said the IRP was a unique business acceleration programme tailored to serve entrepreneurs championing the social inclusion of children and youths across four countries, namely Brazil, Germany, Turkey and Malaysia.

It said a panel of experienced entrepreneurs, investors, Allianz mentors and content experts would support and coach IRP participants.

Meanwhile, Alliance Malaysia Chief Executive Officer Joseph Gross said working with social entrepreneurs would enable Allianz to learn new things about how business was done.

"We put less emphasis on monetary benefits from the collaboration. Instead, we want to enhance the impact by helping more social entrepreneurs to strive in their business," he said in his speech at the launch of the IRP at Menara Sunway in Bandar Sunway, here Friday.

He said pursuing innovative solutions was part of Allianz's business strategy, and through the IRP, the company was excited to provide a platform and support for local ideas which could provide sustainable, long-term impact for the local community.

Allianz estimated that more than RM250,000 has been allocated for programme by its headquarters in Munich, Germany.

"The IRP involves 10 participating teams from four countries, namely Brazil, Germany, Malaysia and Turkey, undertaking a systematic review of their businesses, including highlighting societal challenges faced locally in their home countries," Allianz said.

All participating teams would have a chance to pitch their business and ideas to a panel of jury at the Allianz Future Generation Awards in Munich, it said.

"The winning team will receive €40,000 (€1=RM4.88) in the form of a business grant," said Allianz.

It said the IRP programme, which was established in 2011, facilitated ventures between companies across central and eastern Europe, adding that to date, IRP has screened more than 1,000 ventures in 14 countries at a cost of €3.8 million.

Allianz said applications for the programme is open to all interested Malaysian entrepreneurs until Nov 26.

More information about the application could be found on the Impact Hub Kuala Lumpur's website, it said. – Bernama

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