Staff of MTDC-funded companies to undergo competency training

Bernama has reported that companies funded by the 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.

During the mock cheque presentation ceremony for Commercialisation of Research and Development Fund (CRDF) and Technology Acquisition Fund (TAF) companies held yesterday, he commented: "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.”

Ten companies have received a total of RM22 million funding through CRDF and TAF. Breaking that down, 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.

Datuk Latt said that the MTDC had approved 42 applications from 130 received last year for the CRDF and TAF amounting RM44.4 million.

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On the same note, MTDC chief executive officer, Datuk Norhalim Yunus, said the funds for CRDF and TAF format had been changed to a combination of grants (30%) and convertible promissory notes (CPN) at 70% from only grants, starting end of 2017.

According to Datuk Norhalim, this was to enable CPN to be converted into preferrential shares at one time while forging closer relations with the funded companies. He said: "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," continued Datuk 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. Meanwhile, it has helped over 600 companies since 1997.

Besides the CRDF and TAF, MTDC manages the Halal Technology Development Fund, Business Start-Up, Business Growth Fund and Business Expansion Fund with an allocation of RM170 million this year.

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