KUALA LUMPUR, May 21 (Bernama) — Malaysia Debt Ventures Bhd (MDV), the nation’s leading technology financier, is allocating RM1.45 billion in financing for all technology sectors this year.
MDV is collaborating with the Northern Corridor Implementation Authority (NCIA) and Universiti Sains Malaysia (USM), with which it shares the same goal of accelerating economic growth to become a high-income advanced economy and promoting long-term sustainability and socio-economic well-being, Senior Vice President of Business Division Aimi Aizreen Nasharuddin Aimi said in a statement Wednesday.
MDV held its first ‘MDV Tech Funding Day’ today at USM in Penang for technopreneurs and technology companies in the northern region.
USM Deputy Vice Chancellor (Research and Innovation), Prof. Datuk Dr Muhamad Jantan, when launching the event, said the long process of commercialisation in the high-technology sector requires financing from agencies such as MDV, NCIA, SME Corp and Collaborative Research in Engineering, Science and Technology (CREST).
MDV has disbursed over RM7.0 billion worth of financing to 600 technology start-ups, with more than 70 per cent of the approvals to small and medium enterprises.