Showcasing
the winners to encourage new entrepreneurs
Venture
capital provider MTDC helps start-up biotech companies
to grow and facilitates commercialisation of R&D; discoveries
While unlikely to prove as
popular as the imported US version of The Apprentice,
Winners, a series of 13 half-hour documentaries shown
on the leading Malaysian TV channel TV3 is certainly
an original way of promoting the country’s hi-tech
entrepreneurs before a potential audience of 21 million
people.
An imaginative initiative
by the Malaysian Technology Development Corporation
(MTDC), the programme showcases successful world-class,
Malaysian technology companies operating in the life
sciences and non-ICT sectors. “The goal of Winners
is to show what it takes to produce a winning business
proposal, a strategic partnership and a winning team,”
explains Azlin Alias, MTDC’s Chief Executive
Officer. “We mean to inspire Malaysians to explore
this knowledge-based sector.”
MTDC was set up by the government
in 1992 to advance the development of technology businesses
in Malaysia through the provision of venture capital
financing, government grants, technical support and
incubators. It is the only one-stop agency where financing
can be sourced all the way from laboratory ideas to
full commercialisation.
To date, it has funded more
than 300 local companies and participated in taking
up equity stakes totalling more than RM150 million
(£23 million) over 50 companies, both locally
and abroad – many successfully listed on Bursa
Malaysia. Under the Ninth Malaysia Plan, MTDC has
been allocated RM500 million (£78 million) to
invest in high technology areas such as life sciences
or biotechnology, advanced materials nanotechnology
and renewable energy.
|
Azlin Alias
CEO of the Malaysian Technology Development Corporation |
MTDC runs an incubator programme,
providing entrepreneurs with reasonable rental rates
and business-consulting services, networks and access
to capital. Over the years, it has established six
private equity funds totalling more than RM200 million
(£31 million). In 2006, it launched the country’s
first biotechnology venture capital fund, known as
Malaysian Life Sciences Capital Fund (MLSCF). Co-managed
with a life sciences merchant bank based in San Francisco,
the fund has $150 million in committed capital.
“Malaysia has a lot of unique potential for biotechnology
on account of its abundant natural resources, rich
biodiversity and its highly competitive human capital,”
says Mr Azlin. “What we need to do is harness
all these assets effectively.”
MTDC’s aim is to promote
and commercialise local research and invest in new
ventures that can bring in new technologies from abroad
to further the country’s knowledge-based industry.
“Our objective is to
encourage more start-up companies to grow and collaborate
with our local universities and research institutions.
We aim to facilitate and expedite commercialisation
of the activities of our local universities and research
institutions, and encourage collaboration with industry.”
The TV show Winners, featuring
some of the successful companies that MTDC has invested
in, is just one of a variety of moves, including road
shows, to introduce its services to the universities
and the market at large. “Entrepreneurs who want
to start operations in Malaysia and need seed money
or funding can come to us,” says Mr Azlin.
