-New Straits Times
KUALA LUMPUR: Budding entrepreneurs now have the golden opportunity to further expand and sustain their businesses, thanks to the allocation for intellectual property loans in the 2013 Budget, which was unveiled last Friday.
Transport Minister Datuk Seri Kong Cho Ha said the intellectual property would act as a collateral for small-medium enterprises (SME) to secure loans from financial institutions starting early next year.
He said the intellectual property financing fund scheme was project-based loans offered by the country’s venture capital fund company, Malaysia Debt Ventures Berhad (MDV) to encourage SMEs to develop their intellectual properties.
“Commencing next year, the Multimedia Development Corporation Sdn Bhd (Mdec) and MDV will work together in training intellectual property valuers as the concept of intellectual property is still relatively new in the country’s financial institutions’ loan financing schemes.
“Both Mdec and MDV are in the midst of discussing the final details of the project as we want local expertise to act as intellectual property valuers,” said Kong, who is also MCA secretary-general.
He was speaking during the 7th Annual MCA Innovation Resource Centre (MIRC) Funding Forum, a one-day event to brief entrepreneurs on their funding and financing opportunities which totalled about 160.
MIRC was established by MCA’s Information Communication Technology (ICT) bureau to assist and guide Malaysia’s SMEs leverage on the use of ICT to advance their business opportunities. Since MIRC’s establishment, more than 4,000 entrepreneurs have received assistance in funding and consultation.
Touching on the allocation for transportation in the 2013 Budget, Kong said the ministry was happy that the government had decided to put an emphasis in assisting middle and low-income earners.