Malaysian government to set up RM100 million fund to support startups

The government will invest RM50 million and allocate RM50 million into venture capital fund-of-funds.


Ismawati Asmat

11 Nov, 2019

Malaysian government to set up RM100 million fund to support startups | BEAMSTART News

- From our Sponsors -

The Malaysian government will be allocating RM100 million to invest into innovation-focused companies starting from 2020.

The first RM50 million will be invested by the government directly into four key sectors — health and wellness, fintech in Islamic finance, Industry 4.0 (manufacturing), and halal supply chain.

The balance of RM50 million be managed by venture capitalists who have international experience as they will be able to properly advise local start-ups on how to meet the needs of the international market.

Yeo Bee Yin, Minister of Energy, Science, Technology, Environment, and Climate Change.

The investment returns gained by the government when it eventually pulls out of the investments will be used to help other startup companies.

The ministry will be providing RM16 million grant for research and development for innovation to help scale up start-ups as part of the Shared Prosperity Vision,” the Energy, Science, Technology, Environment, and Climate Change Minister Yeo Bee Yin said.

- From our Sponsors -

Latest Jobs

Affiliate Marketing Manager

Binance

Singapore

Full Time

SGD 2000 — SGD 2500 monthly

Senior Analyst, Product

Carsome

Petaling Jaya, Singapore

Full Time

Salary Undisclosed

Strategy and Growth Lead

Pluang

Jakarta, Indonesia

Full Time

Salary Undisclosed

3D Creative Designer

Nervape

Singapore , Singapore

Full Time

USD 4000 — USD 7000 monthly

Business Development Manager

Tourplus

Kuala Lumpur, Malaysia

Full Time

MYR 10000 — MYR 30000 monthly

Business Development Intern

BEAMSTART

Damansara Uptown, Malaysia

Internship

MYR 400 — MYR 500 monthly

HR Consultant/Recruiter

Fortune Cookie Wisdom Pte Ltd

Remote, Singapore

Contract / Freelance

Salary Undisclosed

Business Development Manager

Lumirous

Kuala Lumpur, Malaysia

Full Time

Salary Undisclosed

Online English Teacher

NativeCamp

Remote, United Kingdom

Contract / Freelance

Salary Undisclosed

UI/UX Designer

Soft Space

Kuala Lumpur, Malaysia

Full Time

Salary Undisclosed

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest news, events, and opportunities.

 

Download the Community App

Connect with the BEAMSTART Entrepreneurship Community from the palm of your hands. Connect with CEOs/Founders, Investors, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

PlayStore ButtonAppStore Button

© 2016 - 2022 BEAMSTART. All Rights Reserved (Legal).