Today, the Mastercard Center for Inclusive Growth, in partnership with The Asia Foundation, and with support from the Ministry of Women, Family and Community Development (KPWPM) Malaysia through its agency, Jabatan Pembangunan Wanita (JPW) launched Strivers’ Hub, a new digital platform designed to broaden growth opportunities for Malaysia’s Micro, Small, and Medium-sized Enterprises (MSMEs), with a focus on those owned and led by women. This one-stop portal offers everything MSMEs need to grow their business including digital upskilling programs, mentoring opportunities, and essential resources for accessing credit and financial schemes.
Strivers’ Hub complements existing government initiatives and supports women entrepreneurs in navigating the complexities of running a small business with resources including:
- Library of resources: A knowledge hub covering a range of topics such as digital transformation involving payments, cybersecurity, grants, loans, and free assessment tools to evaluate their progress on the entrepreneurship journey.
- Mentorship: Opportunities to connect with industry professionals who can provide guidance and support.
- Networking events: Opportunities to establish and build connections with peers, industry experts, and potential business partners to foster collaboration and knowledge sharing.
The platform builds upon the Mastercard Strive Malaysia initiative that aims to strengthen the country’s small businesses. Launched by the Mastercard Center for Inclusive Growth, in partnership with The Asia Foundation in 2023, the local initiative aims to reach 100,000 MSEs – particularly women-owned and women-led businesses – by 2025. The goal is to provide these businesses with access to tools, networks, and resources while cultivating a more supportive business ecosystem.
YB Dato Sri Hajah Nancy Shukri, Minister of Women, Family and Community Development, said, “The launch of Strivers’ Hub marks a significant milestone in our journey towards women's economic empowerment. We are grateful for the partnership with Mastercard Centre for Inclusive Growth (CFIG) and The Asia Foundation in making this vision a reality. By providing the necessary resources and support, we are enabling women to become successful entrepreneurs and contribute meaningfully to our nation's progress. To reach 30% women-owned small and medium enterprises, and in order to reach this number we need to continue specialized women financing programs by centering women in the design process to give women greater access to the capital they need in business. Therefore, KPWKM welcomes collaborations with the public, private, and NGO sectors to create a thriving ecosystem for women-led businesses.”
Safdar Khan, Division President, Southeast Asia, Mastercard, said: “Given the unique challenges that women in Malaysia face in starting and building enterprises, offering them specialized support is crucial to bolster their growth and build a more inclusive digital economy. Mastercard is committed globally to helping women entrepreneurs to succeed, and partnerships such as the one with The Asia Foundation are crucial to creating more accessible, robust, and dynamic MSME ecosystems everywhere.”
Dr. Robin Bush, Country Representative, The Asia Foundation, highlighted the critical role of women entrepreneurs. She said: "Women entrepreneurs are the backbone of many economies, yet they often face significant obstacles. The Strivers' Hub website provides the targeted support they need to overcome these challenges and thrive in the digital marketplace."
Small businesses comprise over 97 percent of all enterprises in Malaysia and account for nearly 40 percent of GDP. However, they have been disproportionately affected by global crises including rising inflation, supply chain disruptions, and labour shortages.
Women entrepreneurs face unique challenges in this landscape. They are underrepresented in Malaysia’s digital economy and often encounter obstacles such as societal gender norms and familial responsibilities. A needs assessment commissioned by Mastercard Center for Inclusive Growth and The Asia Foundation found that only 60% of women running small businesses use digital tools in their operations, while 80% lack access to capital needed for business growth.
The launch of Strivers’ Hub brings together the distinct strengths of the partners involved, with Mastercard contributing its expertise in digital solutions and connectivity with fintechs and industry partners. Meanwhile, The Asia Foundation draws on its extensive experience in social impact and women's empowerment in the region.
Subhashini Chandran, Vice President, Asia Pacific, Centre for Inclusive Growth Mastercard, said: “Strivers’ Hub represents a more expansive, inclusive way of connecting with women entrepreneurs across the country, providing broad access to a wealth of resources at a time when business digitalization is fundamental to growth. By reaching women where they are, Strivers’ Hub can bring easier access to essential digital tools to even those who live in remote areas, or with inflexible schedules due to family commitments, helping them advance in their entrepreneurial journey and fully participate in the digital economy.”
Mastercard Strive Malaysia is part of a portfolio of philanthropic programs – supported by the Mastercard Center for Inclusive Growth – aimed at helping small businesses worldwide thrive in the digital economy. Additional Strive programs include those in the U.S., the U.K., Mexico, Czechia, and Indonesia. Collectively, they aim to support more than 10 million small businesses. In Southeast Asia, Indonesia and Malaysia are the only two countries to launch the Strive program.
In 2020, Mastercard redoubled its commitment to financial inclusion as a pathway to broad-based prosperity, including a specific focus on providing 25 million women entrepreneurs with solutions that can help them grow their businesses. By 2023, the global technology company has provided 37 million women entrepreneurs with solutions that can help them grow their business, exceeding the goal early.
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