TECHNOLOGY PARK MALAYSIA LAUNCHES NEW TECHNOPRENEUR FACILITATION FUND SCHEME

TECHNOLOGY PARK MALAYSIA LAUNCHES NEW TECHNOPRENEUR FACILITATION FUND SCHEME 150 150 abenz

KUALA LUMPUR, MARCH 16 – Technology Park Malaysia Corporation Sdn Bhd (TPM) today launched a new funding scheme known as the TPM Technopreneur Facilitation Fund (TFF) to provide financial assistance to its incubatees in the three cluster industry of ICT, engineering and biotechnology.

Under the TFF scheme, TPM will be providing financial assistance of up to RM50,000 to eligible start-ups and enterprises for their development and expansion programmes.

Eligibility of the funding assistance under each industry category will be evaluated independently TPM’s two main subsidiaries – TPM Engineering Sdn. Bhd and TPM Biotech Sdn Bhd — respectively.

Speaking at the launching of TPM Innovation and Incubation Centre (TPM IIC) latest range of programmes, TPM Chairman Datuk Ahmad Fauzi Zahari, said the TPM TFF scheme would be a boon to incubatees who are constrained by limited capital outlay.

“As the leading incubator in the country, we have to find innovative solutions to assist our new start-ups and enterprises to boost their morale and encourage them to be persistent despite their limited financial capacity.

“We are confident that our small contribution will go a long way in helping the Malaysian society not only to progress positively, but also encourage the philosophy and culture of caring and sharing.

“The commitment of TPM in boosting the technopreneur entrepreneurship developmental growth through science, technology and innovation is an essential catalyst for the country aspirations to achieving a knowledge-based economy,” added Ahmad Fauzi.

In addition to the TFF scheme, the other initiatives announced by the TPM IIC were the TPM Stargazer Mentoring programme, Strategic Playbook programme and RETAIL 118 mobile app.

The TPM Stargazer Mentoring programme is aimed at new companies and/or industries that require mentoring services from more experienced and established companies. TPM will act as the coordinator or facilitator between the small enterprises as the mentee and the more established companies as the mentor.

Ahmad Fauzi said TPM has to date some 100 companies with more than five years experience that are willing to act as mentors in assisting new establishments in the areas of business management, sales and marketing, finance and a host of other organisational disciplines.

“We are confident that our initiative will provide valuable experience for the new small and medium enterprises to learn the realities of the highly competitive business world. Imagine that if there were 100 established companies mentoring similar number of the mentees, this will strengthen and provide a more stable business community for the country in the future.

“Such mentoring programmes conducted by TPM are critical to success and have been proven to help fast track the development and growth of technopreneurship and entrepreneurship involving start-ups and small-and-medium enterprises,” he explained.

Meanwhile, the Strategic Playbook programme is a guide book for new start-ups or companies which outlines the details of how they can plan their operation with ease and positively track their direction according to plan.

The RETAIL118.com mobile application is an online business-to-retailers platform that is developed in collaboration between TPM and its incubatee, Treasure Technology Sdn Bhd. The new mobile application is said to be the first in Malaysia, offers speedier and convenient online shopping for retailers.
Technology Park Malaysia Sdn Bhd, an agency of MOSTI, has an integrated infrastructure, facilities and support services to assist technopreneurs and entrepreneurs who are keen to commercialize their ideas in the four industry clusters, namely, ICT, Engineering, Biotechnology and Green Technology.

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