(From left) MDV chairman Tan Sri Zarinah Anwar, Treasury Secretary-General Tan Sri Dr Mohd Irwan Serigar Abdullah, MDV managing director and CEO Datuk Zubir Ansori Yahaya and MDV non-executive director Datuk Noripah Kamso at the launch of ‘Elevate’ in Kuala Lumpur yesterday. Pic by Surianie Mohd Hanif/ NST
Wholly-owned subsidiary of the Ministry of Finance, Malaysia Debt Ventures (MDV), has launched a 12-month nurturing program, “ELEVATE”, that will observe MDV mentoring and coaching 20 companies with the objectives of strengthening financial and project management capabilities as part of its Corporate Entrepreneurship Responsibility exercise.
The programme was officiated by Treasury Secretary-General Tan Sri Dr. Mohd Irwan Serigar Abdullah together with MDV Chairman Tan Sri Zarinah Anwar and Managing Director/ Chief Executive Officer Datuk Zubir Ansori Yahaya.
Through Elevate, 20 companies will be selected from around 8000 existing technology-based young companies to be groomed, mentored and coached in the current entrepreneurship community in Malaysia within a 12-month timeframe with the goal to increase their ability to secure financing either from MDV or other financial institutions through improving their financial and project management capabilities.
Selected companies are expected to enjoy benefits from MDV’s extensive resources by gaining experienced skillsets, market access and links to key industry participants and partners in community as well as seeing the widening coverage and accessibility to MDV and its partner agencies through exchange of documents and resources.
“The Elevate Programme is not meant to compete with other existing nurturing and coaching programmes, but rather to complement the entire entrepreneur funding ecosystem,” Tan Sri Zarinah Anwar spoke during the launch today.
“Our unique value proposition is that we will apply our credit infrastructure to access candidates, identify gaps and develop measures to strengthen key areas of credit management and financial capabilities. We will use our own combined years of experience in the business to elevate the credit quality of the selected companies.”
Financial assistance in the form of subsidised legal and documentation fees will also be provided through this program.
“In addition, Elevate will also provide a pre-approved financing facility up to RM2 million to the top graduates of the programmed. This funding will enable these promising technopreneurs to implement their business plans and achieve their corporate objectives and goals,” she further added.
Eligible and interested companies that wish to enrol in this programme will have to go through two levels of assessments by MDV: a desktop assessment based on MDV’s proprietary credit scoring framework and a pitching session to MDV’s senior management.
MDV, through Elevate also intends to extend its assistance to other applicants by providing them with advisory services and access to MDV’s ecosystem or partners and industry players.