The government has allocated RM315 million to strengthen the start-up industry in the country post-Covid-19 pandemic, according to the deputy Science, Technology and Innovation minister Ahmad Amzad Hashim.
“TSRF which was launched on May 15, 2020 provides financial aid to assist the cash flow of selected companies and was opened to all locally owned technology start-ups or those which were manned by the majority of Malaysians or where a significant portion of the income was generated in the country,” he said.
“The RM100 million funding for the TSFRF is on top of the allocation which has been provided to ‘tech funding’ agencies under the Ministry of Science, Technology and Innovation including Malaysia Debt Ventures Bhd; Cradle Fund Sdn Bhd; MAVCAP and Malaysian Technology Development Corporation before this, making the total sum provided to date to be RM315 million.