KUALA LUMPUR, MARCH 16 --- Technology Park Malaysia Corporation Sdn Bhd (TPM) today launched a new funding scheme known as the TPM Technopreneur Facilitation Fund (TFF) to provide financial assistance to entrepreneurs in product development to production through the assistance of its subsidiaries, TPM Engineering Sdn Bhd and TPM Biotech Sdn Bhd.
Under the TFF scheme, TPM will be providing financial assistance of up to RM50,000 to eligible SMEs, particularly the micro enterprises. To be eligible for the scheme, applicant must, among others, fulfil the definition of a micro enterprise, registered as a Sdn Bhd and is developing innovative products with high revenue growth potential.
Speaking at the launching of TPM’s Innovation Incubation Centre (IIC) latest range of programmes, TPM Chairman Dato’ Ahmad Fauzi Zahari, said the TPM TFF scheme would be a boon to enterprises who are constrained by limited capital.
“As the leading incubator in the country, we have to find innovative solutions to assist our SME clients to boost their business performance and encourage them to persevere despite their limitations.
“The commitment of TPM in boosting the entrepreneur capacity and capabilities is an essential catalyst for economic development through these high-impact SMEs,” added Ahmad Fauzi.
In addition to the TFF scheme, the other initiatives announced by the TPM IIC were the TPM Stargazer Mentoring programme, Strategic Playbook and RETAIL118.com online platform.
The TPM Stargazer Mentoring programme is aimed at entrepreneurs that require mentoring services from more experienced and established entrepreneurs. TPM will act as the facilitator and connector between these two to encourage sharing of experience and transfer of knowledge.
Ahmad Fauzi said TPM has to date more than 100 mentors with minimum five years of experience whom are willing to act as mentors in assisting new entrepreneurs in the areas of business management, sales and marketing, finance and a host of other organisational disciplines.
“We are confident that our initiative will provide valuable experience for the entrepreneurs to learn the realities of the highly competitive business world. Imagine if there were 100 established companies mentoring similar number of the mentees, this will strengthen and provide a more vibrant business community for the country in the future.
Meanwhile, the Strategic Playbook is a dynamic tool to help businesses, regardless their size, with better planning and execution. It outlines the details of how they can plan their operation with ease and positively track their direction according to plan and take corrective measures when necessary.
The RETAIL118.com is an online wholesale marketplace that connects wholesale retailers and buyers platform that is developed by TPM incubatee, Treasure Technology Sdn Bhd. The new online wholesale marketplace is said to be the first in Malaysia, offering a speedier way of doing business between the retail business value chain.
Technology Park Malaysia Sdn Bhd, an agency of MOSTI, has an integrated infrastructure, facilities and support services to assist technopreneurs and entrepreneurs who are keen to commercialize their ideas in four industry clusters, namely, ICT, Engineering, Biotechnology and Green Technology.