News  |  Business

TPM to allocate RM1 mil for technopreneur fund

TPM to allocate RM1 mil for technopreneur fund
AHMAD FAUZI: The fund is an initiative by TPM to help local entrepreneurs with potentials to grow. -Filepix
KUALA LUMPUR: Technology Park Malaysia Corp Sdn Bhd (TPM) will allocate RM1 million for the newly-introduced TPM Technopreneur Facilitation Fund (TFF).

Its Chairman, Datuk Ahmad Fauzi Zahari, said the fund will offer easy loan of up to RM50,000 to small and medium enterprises (SMEs) at three per cent interest per annum.

"The fund is an initiative by TPM to help local entrepreneurs with potentials to grow.

"This scheme is offered to those who use the engineering and biotechnology product development services of TPM's units -- TPM Engineering Sdn and TPM Biotech Sdn Bhd," he told Bernama after launching the scheme here yesterday.
He said the loans would also be converted to grants if the entrepreneurs recorded an annual turnover of RM500,000 from the businesses they run by the loans.

"The minimum requirements for borrowers include having at least five full-time employees, registered as 'Sdn Bhd', no outstanding payment with TPM or its subsidiaries and generating annual turnover of below RM300,000," he said.

Beside TFF, TPM also launched three other initiatives to further assist the entrepreneurs -- TPM Stargazer Mentoring Programme; Strategic Playbook; and, Retail118.com online Platform.

The TPM Stargazer Mentoring programme aims at entrepreneurs that require mentoring services from more experienced and established entrepreneurs where TPM will act as facilitator and connector between these two to encourage sharing experience and transfer of knowledge.

Ahmad Fauzi said TPM has to-date over 100 mentors with a minimum of five years experience who were willing to assist new technopreneurs in business management, sales and marketing, finance and a host of other organisational disciplines.

The Strategic Playbook is a dynamic tool to help businesses, regardless of their size, with better planning and execution.

The initiative 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. It 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 and value chain. -- BERNAMA