MDV to offer funding to tech entrepreneurs in Malaysia

Malaysia Debt Ventures (MDV) has partnered with Small And Medium Enterprises Corporation Malaysia (SME Corp) to step up efforts in the development of Malaysian technology entrepreneurs in strategic business sectors. The memorandum of exchange, signed in early June, covers three years and will boost the growth of SMEs in the country.  

Through the MoU, MDV will provide loan facilities of up to RM500 million allocation for SMEs under sectoral development particularly in the high technology sectors of solid-state lighting/ light-emitting diodes (SSL/LED), aerospace, medical devices industry and maintenance, repair and overhaul (MRO).

Datuk Md. Zubir Ansori Yahaya, Managing Director and Chief Executive Officer of MDV said that the collaboration effort with SME Corp is timely. “In order to help the SMEs in this sector to move forward, MDV as the Nation’s technology financier would like to further efforts in facilitating the SMEs in terms of their financial capital needs, as well as advisory services to ensure continuous positive growth and long-term sustainability of these companies. With the current technology landscape, MDV’s financing goes across all technology sectors horizontally,” he said.

Besides loan facilities, the MoU also covers collaboration through consultancy and advisory services, infrastructure for programmes, exchange of information and other joint activities to further enhance the development and growth of the technology entrepreneurs. Through the MoU, SME Corp has also agreed to provide access to MDV to its state offices, as well as the One Referral Centre (ORC) which will enable MDV to be more accessible to the SMEs by providing financing advisory and solutions.

MDV plays developmental roles in assisting technopreneurs to scale up commercially for market access, increase probability to penetrate and meeting up market potential demands, as well as provide funding that will trigger potential commercialization of the products. To date, MDV has disbursed over RM7 billion worth of financing to more 600 technology projects.