Recently concluded PRN in Johor expected to create business and economic stability, well positioning the state as a global tech start-up hub and leading tech investment destination 

KUALA LUMPUR, March 17 (Bernama) -- Malaysia Debt Ventures Berhad (MDV), a subsidiary of the Minister of Finance (Incorporated) [MOF (Inc)] and dedicated technology financier, reiterated its commitment to facilitate the development of technology start-ups in Johor, through the Company’s flexible and affordable financing solutions, to support the Government’s objective to develop technology start-ups and unicorns.

MDV’s Chairman, Khairul Azwan Harun said that the results of the recently concluded PRN in Johor is expected to create business and economic stability for the Johor state, well positioning it as a global tech start-up hub and leading tech investment destination in Malaysia, as well as addressing potential inflow of regional start-ups to Johor and Malaysia.

“Johor has always been an important gateway for development in Malaysia and it has the right ecosystem to attract new technology investments into the state. The Drone and Robotic Zone (DRZ) Iskandar, for instance, has great potential in making Johor the leader in the region’s drone and robotics industry. Johor’s strategic location also provides technology start-ups based in the state with easy access to other market opportunities in Southeast Asia countries such as in Singapore and Indonesia,” Azwan said.

However, he added that to ensure that business and technology start-ups can fully realise their potential and flourish, their growth must be supported by investment friendly and stable state and federal government policies, world class ICT infrastructure, sufficient supply of skilled talents, wider access to funding as well as coaching and effective go to market strategies.

“Providing better access to financing is where MDV is able to step in to support these high potential technology start-ups, including those based in Johor, through our expertise and experience in customising our financing offerings based on these companies’ unique requirements,” explained Azwan.

MDV’s enhanced focus on financing technology start-ups to ensure their growth and enabling them to strengthen and rebuild their resilience is in line with the Government’s continued efforts in supporting the start-up ecosystem holistically and sustainably through initiatives such as the implementation of the Startup Ecosystem Roadmap (SUPER) 2021-2030 to address various growth, operational and funding framework to retain start-ups and benefit from technology and economic spillovers. The Government is also ensuring that start-ups funding capacity will be continuously enhanced through numerous strategic measures such as the establishment of Dana Penjana and MDV's new RM2.0 billion fund.

To-date, MDV has approved more than RM75.0 million in financing for 65 companies and has disbursed approximately RM41.52 million to 39 companies in various technology sectors under MDV’s Liquidity Financing for Technology Start-Ups (LIFTS) facility -- a RM100.0 million special programme for technology companies and start-ups that were badly hit by the COVID-19 pandemic. In addition, MDV also manages the Technology Acceleration and Commercialisation Scheme (MDV-TACT) under the Eleventh Malaysia Plan (RMK-11) and MDV-TACT 2.0 under the Twelfth Malaysia Plan (RMK-12), which aim to provide access to financing for commercialisation and growth acceleration activities for emerging technology start-ups with innovative and disruptive products. MDV has so far approved a combined total of RM77.5 million in financing facilities to 26 technology start-ups under the MDV-TACT and MDV-TACT 2.0 programmes.

Khairul Azwan Harun : Photo Link 

About MDV – The Nation’s Technology Financier

Malaysia Debt Ventures Berhad (MDV) is a subsidiary of the Minister of Finance (Incorporated) [MOF (Inc)] established in 2002 with the objective of providing flexible and innovative financing to develop high-impact and technology-driven sectors of the economy, identified and prioritised by the Government as future engines of growth. MDV’s strategic role in the technology financing ecosystem in Malaysia is defined by its approach to funding which is different from other financial institutions. MDV’s niche is helping to fund young technology-based companies or start-ups that are unable to secure financing from commercial financial institutions due to their novel business model, lack of proven operating track record and lack of collaterals. With the rapid rate of technological and digital advance, and Malaysia’s continued push towards becoming an advanced nation, MDV will continue to have a significant role to play particularly in financing emerging technology areas and in achieving its vision of becoming the Nation’s Technology Financier. 

For more information on MDV, visit http://http://www.mdv.com.my/ 

SOURCE: Malaysia Debt Ventures Berhad

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Amelia Ong Abdullah
Senior Assistant Vice President, PR & Communications
Malaysia Debt Ventures Berhad
Tel: 019-2309127
Email: amelia@mdv.com.my

--BERNAMA