Less Grant Money for Technology Entrepreneurs

It seems like there will be less money for technology based entrepreneurs (technopreneurs) in 2010 in form of government grants. According to the article below by the Star dated 4th Feb 2010, the Ministry of Science, Technology and Innovation or MOSTI has lost RM1 Billion of its budget due to a cut.

As we know, grants such as the e-content grant and the MSC Preseed fund have recently run out(the last batch 21 closed on 3rd Dec 2009).

Looking at 2010 will be the in-between years of most grants technology related or otherwise because of the 10th Malaysian plan, it is highly unlikely for any agencies or ministries to give up more fund.

As for other grants in Malaysia, we think most ministry are in a look and see mode for the 10th Malaysia plan (RMK10) which will be only pen down in June but implemented in 2011. We figure that the ministries have already draft their proposal for the (RMK10), there are no indication yet that RMK 10 will benefit the technology entrepreneurs in Malaysia.

Taken from the Star 4th Feb 2010

KUALA LUMPUR: Technopreneurs hoping for funding from the Ministry of Science, Technology and Innovation (Mosti) are in for a tougher time this year.

And the predicament has upset several applicants who are already not happy over the red-tape encountered when applying for such grants.

The ministry said its 2010 budget for such grants has been cut by RM1bil, leaving RM2.7bil in its coffers to be handed out to deserving applicants.

“Funds are quite limited for this year,” said Suhaimi Hamzah, deputy undersecretary for the commercialisation section at Mosti. “Sole proprietorships and certain partnerships and companies have about 10 months left to apply.”

“Our e-content grant funds have already run out,” he said.

Suhaimi was speaking at the National Chamber of Commerce and Industry Malaysia seminar on government grants and financial assistance for Malaysian companies, held in the capital on Tuesday.

Mosti has several funding programmes for various fields of research, development and commercialisation, including biotechnology, industrial, information and communications technology (ICT), sea to space technology, and science technology.

Another source of funding for technopreneurs is the Multimedia Development Corp (MDeC), which oversees the nation’s ICT initiatives.

The 10th Malaysia Plan, to be announced in June and which will only kick in next year, may or may not see an increase in the amount of future government grants.

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