THE Penang i4.0 Seed Fund, a seed programme customised to fund early stage tech startups in Penang, has been launched.
The programme initiated by the Penang government through investPenang and @CAT Penang, offers funding amounting up to RM150,000 to assist startups with innovative technology products and services to attain commercialisation.
investPenang chief executive officer Datuk Loo Lee Lian said among the eligibility criteria includes early stage startups that has a working minimum viable product with positive early traction and a company incorporated in Malaysia.
She noted that the closing date application for the first batch is May 9.
Chief Minister Lim Guan Eng said the i4 Seed Fund intends to build, attract and retain talents in the data-driven digital era and to spur the tech startup ecosystem to realise Penang’s potential as Asia’s next Silicon Valley.
“We hope that this i4 Seed Fund will catalyse more of Penang-powered companies,” he said at the official launching of the Penang i4.0 Seed Fund at @CAT in Wisma Yeap Chor Ee recently.
Tech startups are encouraged to apply at acatpenang.com/i4seedfund.