July 28, 2015 | Sharon Cheong
Each year, Malaysia's economic growth rate escalates from the overall Gross Domestic Product to its advanced industrial and technology sectors. As a newly industrialized market, the nation is very open to investors and entrepreneurs. This is one of the top ASEAN economies in Southeast Asia and it offers many great economic opportunities for foreigners and locals.
The Malaysian government appreciates high-tech innovation and strives to make the necessary advancements each year to welcome the world's best corporations and brands. Their forward-thinking policies encourage entrepreneurs in every possible way including financial assistance. Their Vision 2020 plan has opened the door to new and exciting economic development strategies throughout the nation. The funding options in Malaysia are quite good and open to all types of business and industry.
Cradle: CIP Catalyst Program
The CIP Catalyst program is a conditional grant accessible from Cradle under the CIP. It targets entrepreneurs in general offering financial grants to citizens and permanent residents. Applicants must be 18 years or older and they must be borrowing the money for specific listed industries and research. Applicants may be able to get up to RM150,000 for their new startup providing they qualify.
Multimedia Development Corporation
This program is aimed at developing digital technology that can change the future. There are several different initiatives available depending upon the type of invention or discovery. These programs are designed to encourage young entrepreneurs and inventors by giving them the financial resources necessary to develop their concept and have it manufactured. There are several offshoots of this organization, one known as Digital Malaysia, which seeks to help the underprivileged with financing for their project.
Virtuous Investment Circle
This is a non-profit organization that promotes angel investing with private funds for startups in Malaysia. They may be able to help with funding for all types of business concepts, but are especially interested in technology startups. Malaysia currently has 39,000 millionaires and many of these are interested in helping new businesses get their start. The trick is simply to convince the investor that your idea is lucrative enough, much like entrepreneurs do on the TV show, Shark Tank.
SME Bank -Graduate Entrepreneur Fund
This organization is located in Kuala Lumpur and allocates monies for various startup groups. One recent program targets female entrepreneurs and the bank is advertising that funds are available in the amount of RM200 million in its all-new Women Entrepreneur Financing Programme (WEP). These loans require a strong business plan that exemplifies the innovative and creative spirit of women business leaders in Malaysia. Funds can also be used for business expansion.
Prestigious Office Space in Malaysia
Every new business owner is searching for ways to save money while still getting the upscale office space necessary to thrive. An impressive office space and prestigious address can be exactly what you need to convince an investor to take a chance on your idea. Servcorp Serviced Offices are available in 120 countries around the world including Malaysia. Servcorp offers the very best in serviced office space, meeting rooms and board rooms at low monthly rates. Highly skilled bi-lingual staff are at your disposal when you need them. Please call +603 2169 6188 for more information.