Government restructuring issuance of grants to aid digital tech-based entrepreneurs

Last update: 17/11/2019

IPOH, Nov 17  -- The government is restructuring the issuance of grants and entrepreneurship funds by shifting their focus more towards digital technology based entrepreneurs.

Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin said this was aimed at guiding them, with the hope that these technology based entrepreneurs would grow and have a good schemes to run a business and become successful entrepreneurs.

She gave the example of setting aside RM20 million to the Cradle Fund  for training purposes and grants specifically for the development of these technology based entrepreneurs.

She said this when met by reporters after delivering a keynote address at a forum titled Renewable Energy and Opportunities at the Perak Startup Festival 2019 programme in conjunction with the Perak  International Expo 2019 (PIEX 2019) here today.

In addition, Yeo said restructuring would also include loans for companies using new technology or technology-based ones from Malaysia, where most banks currently provide loans based on collateral rather than technology.

The four-day exhibition to date has four major components taking place simultaneously, the Pangkor International Development Dialogue, the Perak Startup Festival, the Pride of Perak and the Perak International Halal Expo.

PIEX 2019 is jointly organised by Invest Perak and the Perak Chinese Chamber of Commerce, supported by the Perak Malay Chamber of Commerce and Industry, Malaysian Chamber of Commerce,  Malaysian Chamber of Commerce and Industry, Malaysian International  Chamber of Commerce and Industry as well as the Federation of Malaysian Manufacturers (Perak).