MTDC announces new business growth fund

The Malaysian Technology Development Corps, founded in 1992 to promote venture capitalism in the country’s technology and innovation industries, has announced a new fund called the Business Growth Fund to support “high technology companies which had successfully [commercialized] their research findings and technology products,” according to CEO Norhalim Yunus.  The fund will offer about 30 companies an estimated RM150 million.

The fund will have two functions, that of partial grant funding and equity participation in the ventures.  Partial grant receivers are eligible for up to 25% total funding or RM1 million.  Companies receiving full equity participation are eligible for up to 75% total funding or RM3 million.  The announcement of the Business Growth Fund comes after the success of the Business Start-Up Fund launched earlier this year.

 



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The Malaysian Technology Development Corps, founded in 1992 to promote venture capitalism in the country’s technology and innovation industries, has announced a new fund called the Business Growth Fund to support “high technology companies which had successfully [commercialized] their research findings and technology products,” according to CEO Norhalim Yunus.  The fund will offer about 30 companies an estimated RM150 million. The fund will have two functions, that of partial grant funding and equity participation in the ventures.  Partial grant receivers are eligible for up to 25% total funding or RM1 million.  Companies receiving full equity participation are eligible for up...

The Malaysian Technology Development Corps, founded in 1992 to promote venture capitalism in the country’s technology and innovation industries, has announced a new fund called the Business Growth Fund to support “high technology companies which had successfully [commercialized] their research findings and technology products,” according to CEO Norhalim Yunus.  The fund will offer about 30 companies an estimated RM150 million.

The fund will have two functions, that of partial grant funding and equity participation in the ventures.  Partial grant receivers are eligible for up to 25% total funding or RM1 million.  Companies receiving full equity participation are eligible for up to 75% total funding or RM3 million.  The announcement of the Business Growth Fund comes after the success of the Business Start-Up Fund launched earlier this year.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

 

 

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