PETALING JAYA, April 25 (Bernama) — The government has done a good job in facilitating entrepreneurs to develop their businesses, and continuity of this effort is important, said MyCreative Ventures Sdn Bhd.
MyCreative Ventures, a government investment arm, was launched by Prime Minister Datuk Seri Najib Tun Razak in September last year to spur Malaysia’s creative industry via strategic and innovative funding.
Its Chief Executive Officer Johan Ishak said the agency had received more than 70 applications for funding, and would announce the first tranche of 10 investees selected, soon.
“The RM200 million allocated by the government in the last budget is enough because our creative industry comprises mostly small players,” he told a press conference at the New Entrepreneurs Foundation’s (myNEF) Chill Creative Chat programme.
Foreign companies such as FOX International Channels have also been impressed by the Malaysian government’s aggressiveness and support towards developing the businesses of small players in the media industry, compared with its regional peers.
“That is why we have established a local office here, and want to really be a part of this ecosystem,” said its Programming Vice-President, Eddy Tan.
Meanwhile, myNEF chief executive officer Muhammad Ferdaus Johar said in terms of funding sources, the government had made it easier for creative content entrepreneurs through agencies like MyCreative Ventures and Malaysia Debt Ventures Bhd.
“While funding is no longer a major issue, many projects failed to materialised because the content was not in line with the broadcaster’s needs.
“We hope to bridge the gap between content provider and potential buyers,” he added.
myNEF, which currently has over 750 entrepreneurs registered with it, aims to reach 1,000 by May, and 3,000 in the next three years, through various programmes developed under its purview.