PETALING JAYA: Malaysia Debt Ventures Bhd (MDV) has reiterated its commitment to facilitate the development of technology startups in Johor through its flexible and affordable financing solutions.
This is to support the government’s objective to develop technology startups and unicorns.
Chairman Khairul Azwan Harun said the results of the recently concluded state election were expected to create business and economic stability for Johor, positioning it as a global tech startup hub and leading tech investment destination in Malaysia, as well as addressing potential inflow of regional startups to the state.
He said Johor has always been an important gateway for development in Malaysia and it has the right ecosystem to attract new technology investments.
“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 startups based in the state with easy access to other market opportunities in South-East Asian countries such as Singapore and Indonesia,” Azwan said.
MDV is a subsidiary of the Minister of Finance (Inc) and a dedicated technology financier.
To-date, it has approved about RM75mil in financing for 65 companies and has disbursed approximately RM41.52mil to 39 companies in various technology sectors under its Liquidity Financing for Technology Start-Ups facility – a RM100mil special programme for technology companies and startups that were badly hit by the Covid-19 pandemic.
MDV also manages the Technology Acceleration and Commercialisation Scheme (MDV-TACT) under the 11th Malaysia Plan (11MP) and MDV-TACT 2.0 under 12MP.
MDV has so far approved a combined total of RM77.5mil in financing facilities for 26 technology startups under the MDV-TACT and MDV-TACT 2.0 programmes.
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