· A total of 49 applications under the TSFRF received from technology start-ups during the first application window
· Subsequent round of application period to run for two weeks from 8 June 2020 to 21 June 2020
KUALA LUMPUR, June 1 (Bernama) — Malaysia Debt Ventures Berhad (MDV) today announced the closing of the first application window for the RM100 million Technology Start-Ups Funding Relief Facility (TSFRF), which was opened for applications beginning 18 May 2020 until 31 May 2020. During this period, MDV had received a total of 49 applications under the TSFRF, with financing amount requested between RM1 million to RM2.5 million, from eligible technology companies in various technology sectors including ICT, E-commerce, Logistics, Fintech, Big Data, Medical, property related apps and Electric Vehicle (EV).
MDV’s Chief Executive Officer, Nizam Mohamed Nadzri said that, “As the TSFRF is yet to be fully committed, the subsequent application window for the facility will run for another two weeks starting 8 June 2020 until 21 June 2020. The gap between the application periods is to allow for MDV to proceed with the screening process by the facility’s dedicated screening committee so that we are able to keep to the faster processing timeframe under the facility and ensure timely disbursement to successful applicants.”