It’s a confusing world if you are one of Malaysia’s estimated one million entrepreneurs. There are no fewer than 60 different government agencies that aim to assist budding (or existing) company-builders.
Each agency has different, yet similar—to a certain extent—objectives.
On financing alone, there’s Malaysia Venture Capital Management (MAVCAP), Cradle Fund and its venture arm Cradle Seed Ventures (CSV), the Malaysian Technology Development Corporation (MTDC), Malaysia Debt Ventures (MDV), VentureTECH, and Kumpulan Modal Perdana (KMP). Just to name a few.
So where exactly does one turn?
A founder of a local fintech startup, which had been rejected by two government agencies to attain pre-seed funding, described the process of getting in touch with these organisations as “crazy”.