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BUSINESS

MTDC to fund 10 high-potential tech companies in Sarawak

12/07/2018 04:49 PM
KUCHING, July 12 (Bernama) -- The Malaysian Technology Development Corporation (MTDC) will finance about 10 high-potential technology development companies with an investment value of at least RM500,000 and a maximum of RM5 million in Sarawak for five to eight years.

MTDC chief executive officer, Datuk Norhalim Yunus, said the move is aimed at encouraging SME entrepreneurs, particularly in Sarawak, to develop technology-based products and services in order to face up to the fourth industrial revolution and global competition.

Norhalim added that MTDC strive to increase the number of SME entrepreneurs in technology development companies and help them with their company's progress.

"MTDC also assist in forging the connection between entrepreneurs and local institutes of higher learning, and emphasise teamwork between entrepreneurs and researchers. The cooperation will enable the creation of marketable products that are worthy of export, and this will increase the company's earnings," he told reporters during the MTDC Road2Growth 2018 programme and roadshow, here, today.

Besides serving as a platform for SME companies to participate in technological industries, MTDC provide advisory services, soft loans, branding services, and networking opportunities for technology entrepreneurs among others.

"It takes passion and hard work to make it in this industry. An example of success is a company, owned by a polytechnic graduate, that is listed in (Bursa Malaysia) stock exchange. The company design, manufacture and supply robotics and automation products to top establishments such as Apple, Google and Tesla," said Norhalim.

A total of 60 participants, comprising students, entrepreneurs and experts took part in the MTDC Road 2Growth 2018 programme at Merdeka Palace Hotel.

In addition to briefing and networking sessions, selected participants will be given the opportunity to highlight their technology-based projects to a panel of industry experts.

--BERNAMA


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