MTDC provides grants to 80 companies to boost tech-based businesses
KUALA LUMPUR: The Malaysian Technology Development Corporation (MTDC) has allocated RM264 million in grants to 80 local companies under the 11th Malaysia Plan (11MP) to boost the development of technologybased businesses.
Its chief executive, Datuk Norhalim Yunus said in line with the country’s technological development, the MTDC was focusing on two major industries, namely automation and robotic as a catalyst for economic growth.
“MTDC provides not only funding, but also technologies developed by universities and local research institutions involving entrepreneurial development.
“In fact, we are always helping young entrepreneurs develop technology companies and find footings and eventually match big companies,” he said in an interview with Bernama.
Norhalim said the MTDC has allocated RM170 million this year for six funds, namely the Technology Acquisition Fund, Commercialisation of R&D Fund, Halal Technology Development Fund, Business Startup Fund, Business Expansion Fund, and Business Growth Fund.
“The six funds aim to enhance technology content, capacity, capability and competitiveness of the recipient companies,” he said.
The MTDC set up a Technopreneur Training Academy (TENTRA) this year in its quest to commercialise technologies, he said, adding that the training academy was aimed at reducing the rate of business failure among entrepreneurs, especially technopreneurs.
“Under TENTRA, we will further enhance our offerings through technology-compatible services, including placement schemes for lecturers and researchers seeking the industry’s views on transfer of knowledge and commercialisation,” he said.
The MTDC has targeted five technology companies to be listed on the Leading Entrepreneur Accelerator Platform (LEAP) by year-end in line with the country’s technological development strides.