Funding for Malaysian ICT Entrepreneurs
Attention to all Malaysian ICT Entrepreneurs, If you have any great ideas, which you think is unique, it will be a hit in the market, or its the next big thing; here is the chance for you to fulfill your dreams. Get funded for your ideas! The government had allocated RM80 million under the Ninth Malaysia Plan for funding as part of the effort to nurture home-grown technologies and talent pools.
These are the few options that you could get funded from:
1) Cradle Investment Programme (RM50,000 – RM150,000)
CIP, a RM 100 million fund managed by Cradle Fund Sdn Bhd, under the auspices of the Ministry of Finance (MOF). Cradle Fund Sdn Bhd is a subsidiary wholly owned by MAVCAP (Malaysia Venture Capital Management Bhd). A conditional fund for RM 50,000 – RM 150,000 for groups of innovative individuals with technology-oriented ideas, who are 18 years of age and older, and permanently residing in Malaysia can apply. Each application form must have a minimum of 2 applicants and a maximum of 5 applicants. Read their FAQ to understand more about them and how you could apply for the fund.
2) MIRC – MCA ICT Resource Centre
A RM5mil fund to IT entrepreneurs in Malaysia. This is a partnerships between MCA’s Technopreneur Venture Fund with venture capital organizations. There is not much detail on the MIRC site, is best for you to contact them directly at +603-2161 1618 for more details on the fund. This may be their first fund. So, be the pioneer for the first batch, you may get a lot of publicity if you manage to secure the fund. I wonder if this fund will be a conditional funding or it acts as a VC funding? since it is partnering with the venture capital organizations, will it have any of the VC’s restrictions occurs?
3) MDEC Technopreneur Pre Seed Fund
A RM 150,000 conditional fund which was introduced by MDEC to develop your viable business plan into commercially focused ICT project for venture funding and commercialization. Apart having the advantage of its mentoring services and the facilities provided by MDEC, approved applicants has a chance to apply for MSC status during the development of prototype. The fund is open to all Malaysian Individuals who doesn’t owns a business. Application Form download here. FAQ download here.
Last but not least, some other sites that mentioned on Funding in Malaysia:
- http://www.it-sideways.com/2007/05/funding-for-technopreneurs.html
- http://www.edwinwang.com/Cradle-investment-Programme-MSC-TDF-National-Incub.shtml
- http://web2.0entrepreneur.com/6/how-to-get-funded-for-malaysian-startup-entrepreneurs.html
- http://www.mobileworld.com.my/v2/index.php/20071105394/Mobile_Industry/Articles/Who_said_there_is_no_funding_.html
- http://www.mscmalaysia.my/topic/MSC+Malaysia+Status+Funding
- http://hatchlings.wordpress.com/2007/01/05/funding-options-for-a-malaysian-entrepreneur/
Don’t wait when there is a chance.
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Life is interesting, its all about experimenting, trial and errors and self improvments. This blog is all about my personal experience. I am full with ideas, and i will achieve every one of them step by step.
Hi guys,
just to share with you something.
Malaysia University of Science and Technology (MUST) is organizing the above workshop and we are pleased to invite the public and private sectors to participate in the workshop from 26 to 27 August 2008 at Istana Hotel, Kuala Lumpur.
We believe that participants will be able to obtain valuable knowledge via our invited speakers who are more than willing to share their experiences and expertise in terms of starting up and managing new businesses particularly in the area of high-tech entrepreneurship. It will be a unique program consisting of lectures, case analysis, mock venture creation (where participants will use the methodologies learnt to create a real business venture over the 2-days) and also include 2 guest lectures by eminent Malaysian Entrepreneurs Mr. Prem Chandran, CEO of Malaysiakini.com and Mr. Chris Chan, CEO of The Media Shoppe Berhad. The objective of the program is the creation of better Entrepreneurs & sustainable, successful business ventures.
For further details, please contact Siti Suzilah at 03-78801777 or suzilah@must.edu.my
We would also appreciate it very much if you can kindly extend this invitation to other members in your organization.
Looking forward to hear from you soon!
Sharing tips of online business model, startup, incubators, internship training, online marketing… for startup company. Check my Blog http://www.WebsiteSolution.com
Hi Chee Hong,
I am in need of your kind advise.
What about financing for (say) an European software company that wishes to use Malaysia as gateway to South East Asia for it solutions?
Most of the solutions are in the complete stage!
Can such financing be found in Malaysia?
Thanking you for the advise!
Chris
Chris, For a completed software, SMIDEC fund will the best option for you. Visit the following URL: http://www.smidec.gov.my. I am still looking into it and will later reveal more info through this blog.
THanks chee hong, very nice share