(From left) MTDC director of technology ventures Mohammad Hazani Hassan, MTDC director Christina Foo, Norhalim and MTDC director of corporate services Mariamah Daud pose for a photo after the roadshow here yesterday.
KUCHING: Malaysian Technology Development Corporation Sdn Bhd (MTDC), a wholly-owned subsidiary of Khazanah Nasional Bhd and an agency under the Ministry of Science Technology and Innovation (MOSTI) foresees opportunities to provide funding for Sarawakian technology-based companies in particular those which are involved in downstream businesses.
MTDC chief executive officer (CEO) Datuk Norhalim Yunus believes that downstream businesses in the state have huge potential to grow as industry players move up the value chain of their respective industries to further enhance their operations.
“There is a lot of potential in downstream businesses. The most obvious one for instance in the palm oil industry will be (the supply of) fertiliser.
“As companies need to grow and innovate to move up the value chain of the industry, they may require more funds for expansion.
“Besides, with their businesses growing, it will also value add to the economic growth of Sarawak,” he told The Borneo Post during an interview yesterday.
He cited one of the companies which MTDC funded is Malaysian Phosphate Additives Sdn Bhd (MPA) who is currently building one of the biggest phosphate projects in Samalaju.
MTDC provides various types of funds to local companies which are promoting the adoption of technologies through commercialisation of local research and development or acquisition of foreign technologies.
Norhalim said among the funds offered include the Commercialisation of Research and Development Fund (CRDF), Technology Acquisition Fund (TAF), Business Startup Fund (BSF) Business Growth Fund (BGF) and Bumiputera Expansion Fund (BEF) to assist companies and entrepreneurs at different level of business undertaking.
On another note, herevealed that the technologies which the companies use can be from their own researches, outsourced from the research departments from public universities as well as private universities in Sarawak.
He said with the increasing number of institutions of higher learning in the state, there is more opportunities to work with the researchers here and market their technologies to local businesses.
Thus, he encouraged local companies especially technology entrepreneurs in the state that is seeking capital to take up commercialisation of indigenous technology and innovation for the mass-market roll out to leverage on the facilities provided by MTDC.
Besides, he said MTDC is also looking at exploring the possibility to collaborate with certain state government agencies to organise discussion and dialogues with businesses as well as technology entrepreneurs on ways to assist them.
In the meantime, MTDC organised a half-day roadshow at a hotel here yesterday with the aim to create more awareness among the business community here to enable them to get more information about the assistance and facilities provided by MTDC.
It was attended by researchers, entrepreneurs, members of business chambers and business associations as well as state government officials in charge of entrepreneur development.