TPM to allocate facilitation fund worth RM10 million for bumi entrepreneurs

KUALA LUMPUR: Technology Park Malaysia Corporation Sdn Bhd (TPM) is expected to allocate RM10 million for the TPM Facilitation Fund, over five years, to assist Bumiputera entrepreneurs explore new economic frontiers.

The fund would be allocated in stages, beginning the first half of the year and would benefit more than 30 Bumiputera start-up companies involved in the engineering sector, said TPM Chairman Datuk Ahmad Fauzi Zahari.

“Currently, we are still waiting for approval from the Ministry of Housing and Local Government to start the fund which should take off in the first half of the year,” he said.

Initially, TPM would allocate around RM1 million, annually, for the fund and each company could receive a grant of up to RM50,000, he told reporters after launching the TPM Technopreneur Development Centre (TDC) here today.

The centre will be a platform or facility for the Bumiputera Entrepreneurs Startup Scheme (SUPERB) and Bumiputera entrepreneurs to forge their business networking and obtain hand-holding assistance.

Meanwhile, the Bumiputera Agenda Steering Unit (TERAJU) Chief Executive Officer Datuk Husni Salleh said SUPERB, launched in 2014, had granted RM45 million to 90 Bumiputera entrepreneurs.

“This year, we expect to award RM20 million in grants to 40 Bumiputera start-ups to help them commercialise their products and take their business to the next level,” he said.

SUPERB is a RM100 million fund to help startup companies. It is open to Bumiputeras who aspire to become entrepreneurs. — Bernama