KUALA LUMPUR, Feb 12 (Bernama) -- The companies funded by Malaysian Technology Development Corp (MTDC) will be required to send representatives to undergo training at its Technopreneur Training Academy starting this year to enhance their competencies as technopreneurs.
Its Chairman, Datuk Latt Shariman Abdullah, said the academy would provide a structured on-going training programme within a stipulated time period, to include soft-skills knowledge, branding and marketing courses, 'mentor speed dating', grooming and so on.
"We believe that through inter-disciplinary knowledge and institutional collaborations, the companies are able to build synergies, strengthen their impact and innovate pathways to market their products," he said.
Latt Shariman said this at the mock cheque presentation ceremony for Commercialisation of Research and Development Fund (CRDF) and Technology Acquisition Fund (TAF) companies held here today.
Ten companies received a total of RM22 million funding through CRDF and TAF.
Nine CRDF companies received RM20 million and one TAF company received RM2 million for 2017, in which their applications were approved in the third and last quarter of last year respectively.
Latt Shariman said MTDC approved 42 applications from 130 received last year for the CRDF and TAF amounting RM44.4 million.
On the same note, Chief Executive Officer, Datuk Norhalim Yunus, said the funds for CRDF and TAF format had been changed to a combination of grants (30 per cent) and convertible promissory notes (CPN) (70 per cent) from only grants, starting end-2017.
This, he said, was to enable CPN to be converted into preferential shares at one time while forging closer relations with the funded companies.
"The objective of converting the CPN into equity is to assist the firms in terms of financial management because as our partners, we want them to be on the right track and accelerate their advancement at the domestic and global levels.
"With these efforts, we hope we will able to assist more small and medium enterprises grow into Industrial 4.0-ready companies and help accelerate the further growth of companies which are already Industrial 4.0-ready from day one," said Norhalim.
He said the corporation also targeted the companies it funded to list on Bursa Malaysia's Leading Entrepreneur Accelerator Platform Market, ACE Market, Singapore Exchange and international bourses as part of their growth within the first three years as recipients of the funding.
As of December last year, MTDC has helped 60 companies, involving its six managed funds, while since 1997, it has helped over 600 companies.
Besides the CRDF and TAF, it manages the Halal Technology Development Fund, Business Start-Up, Business Growth Fund and Business Expansion Fund with an allocation of RM170 million this year.