MyCreative to leverage on PENJANA to revive creative sector

MyCreative applauds the allocation of RM225 million in overall value for the arts, culture, entertainment and event industries under the National Economic Recovery Plan (PENJANA) announced recently on June 5.

Applications are now open for grants, matching investments and loans under MyCreative’s own programmes to provide effective implementation of the stimulus measures for the Creative Industries.

According to Saifuddin Abdullah, Minister of Communications and Multimedia, the ministry is committed to support the Creative Industry. The allocation under PENJANA will address the immediate needs of all within the industry, providing much-needed boost to a broad aspect of the creative economy. There is also an emphasis on digitalisation, growth and sustainability of the creative activities. Moreover, it will also complement the ministry’s initiatives for the Creative Industry for the next six months.

“Our immediate focus will be on ensuring that every cent reaches the right hands as soon as possible with proper governance and integrity. l am confident that MyCreative and Unit Pelaksanaan Dan Koordinasi Stimulus Ekonomi Antara Agensi Nasional (LAKSANA) will ensure effective implementation and inclusivity, including women, young people and minorities, while exemplifying the advice of the Prime Minister in ensuring we do not allow red tape and bureaucracy to hinder Malaysia’s economic recovery,” Saifuddin said.

On a similar note, the Finance Minister, Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the allocation affirms the Government’s support for the creative economy, especially during these difficult times that creative activities have been impacted due to the Covid-19 pandemic.

For the six-month period from July to December 2020, MyCreative will focus on assisting creative businesses and activities transition to or incorporate more effectively digital and online opportunities.

“We are grateful to the Minister of Communications and Multimedia and the Finance Minister for entrusting MyCreative with the task of jumpstarting the Creative Economy and putting it back on its trajectory of becoming a significant contributor to Malaysia’s growing digital economy and its GDP”, said Mohd Naguib Razak, Chairman of MyCreative Ventures.

The Chairman also said the substantial allocation of RM190 million in overall value for the creative sector under MyCreative is evidence of their shared belief in the value and potential of their Creative Industries.

“MyCreative acknowledges the responsibility that comes with the mandate to carry out these measures in the most efficient yet urgent manner and is committed to applying our know-how to add value, help to future-proof the creative industry and make its voice heard,” he added.

The MyCreative programmes cover 10 creative sub-sectors: Content Creation (including Film, Broadcast & Streaming Content and Videogames), Music, Fashion, Performing Arts, Visual Arts, Literature, Traditional and Cultural Arts, Culinary Arts, Design and Creative Education.

Applicants can tap into a variety of schemes and initiatives such as Live Event Grants, Digital Marketing Grants, Matching Investments Schemes as well as very attractive Fast Track, Low- Interest Soft Loans.

These measures will be further complemented and enhanced by MyCreative’s Creative Industry Digital Velocity Programme comprising digital marketing and promotion training, connectivity assistance and advisory services.

MyCreative’s overall role is to help businesses make the difficult transition to becoming more digital in order to remain relevant and competitive in the ‘new normal’. Special attention will be given to Live Events and Exhibition Showcase Events, especially if they are able to incorporate a digital or online dimension into their business model.

In addition to direct financial support to creative businesses, MyCreative is also looking to provide indirect support under the Creative Industry Digital Velocity Programme, in the form of advice, training and networking in order that creative industry practitioners can better incorporate a digital or online dimension to their creative business or activity and to use the Digital Marketing and Promotions Grants more effectively.

MyCreative have also arranged collaboration with the private sector, beginning with partnerships with Google, Facebook and Yes, to help players adapt to new normal through training in digital distribution methods and promotion, development of new business models and connectivity.

Please visit http://www.mycreative.com.my/ for the full announcement, the FAQs and additional contact information.

Additional information on the CENDANA Recovery Initiatives (CRI) can be found on CENDANA’s website, https://www.cendana.com.my/ .

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