Cyberview Sdn Bhd (Cyberview) and Malaysia Debt Ventures Bhd (MDV) have teamed up to help technology companies in Cyberjaya enhance the digital economy of Malaysia.
Both companies recently signed a memorandum of understanding (MoU) to provide seamless access to funding for Cyberjaya tech companies through MDV’s array of financing schemes, ensuring growth and allowing these businesses to strengthen and rebuild their resilience.
Managing Director of Cyberview Najib Ibrahim says, “Due to a shortage of funding, startups, small and medium enterprises (SME) have struggled to grow and scale their business before their full potential can be realised.
“This MoU with MDV is crucial for Cyberjaya’s tech companies to sustain and, more importantly, to get the right support for their business continuity, especially in the aftermath of the pandemic.
“As a firm believer in embracing a collaborative multi-stakeholder approach, we are optimistic that this MoU will be extremely beneficial in further strengthening the Cyberjaya tech ecosystem.”
MDV plays a critical role in the Malaysian technology financing ecosystem, advancing the government’s initiatives to promote a technology-based economy.
To date, MDV has disbursed approximately RM12.71 billion for over 965 projects across various technology industries.
These funds committed to 836 technology and technology-based businesses in Malaysia, with 55.8% of them being Bumiputera-owned and 87.2 percent being technology-based SMEs.
According to the CEO of MDV Nizam Mohamed Nadzri, Cyberview’s commitment to technology and innovation is reflected in the agency’s mission to develop the technology and startup ecosystem.
“We are pleased to be able to collaborate with Cyberview in providing better financing access to technology companies in Cyberjaya through MDV’s product offerings, which include our project and contract financing, as well as our dedicated programmes for startups such as the liquidity financing for technology startups (LIFTS) and Venture Financing.
“This initiative could potentially support and accelerate these technology companies’ post-pandemic recovery and progress and help create a strong growth momentum not only for the Cyberjaya tech ecosystem but for the technology sector as a whole.
“Currently more than 400 MSC companies residing in Cyberjaya of various sizes and at every stage of growth. We have the highest concentration of tech companies in Malaysia and have been the home base for homegrown tech companies, namely Aerodyne, IX Telecom, eMoovit, and Monsta,” he says.