MDV allocates RM1.45bil for tech sector
KUALA LUMPUR: Malaysia Debt Ventures Bhd (MDV), the nation’s leading technology financier, is allocating RM1.45bil 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, senior vice president of Business Division Aimi Aizreen Nasharuddin Aimi said
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 government agencies such as MDV, NCIA, SME Corp and Collaborative Research in Engineering, Science and Technology (CREST).
MDV has disbursed over RM7bil worth of financing to 600 technology start-ups, with more than 70% of the approvals to small and medium enterprises.