M’sia must embrace new tech, become innovators instead of mere usersMalaysia Debt Ventures Berhad , a subsidiary of the Minister of Finance [MOF Inc] and an agency under the purview of Malaysia’s Ministry of Science, Technology & Innovation organised the nation’s first KL Venture Finance Forum 2022 at the Westin Kuala Lumpur, Monday. The forum was organised in conjunction with MDV’s 20th anniversary celebration to commemorate its establishment by the government back in 2002.
“Innovation is the main driver in creating new opportunities to produce higher socioeconomic value for society and the country.
“In developing local technology and innovation, the government has always been consistent in its efforts to strengthen the SME and startup ecosystem. However, to support the government’s efforts, the private sector needs to play a bigger role in helping to drive economic growth, especially through the development of disruptive and high-value technologies driven by local talent,” he explained.
However, in fulfilling the potential of venture debt as an alternative funding source for startups in Malaysia, Azwan emphasises that there needs to be enhanced partnerships between market players such as MDV’s collaboration with Kenanga IB last year in establishing a fintech fund.
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