Iskandar Investment Berhad (IIB) and Malaysia Debt Ventures Berhad (MDV) today signed a Memorandum of Understanding (MoU) intended at encouraging the growth and development of technology companies and startups in Medini and Johor by improving access to funding and fostering a thriving innovation ecosystem in the region.
The MoU was signed by Dato’ Idzham Mohd Hashim, President & Chief Executive Officer of IIB and Encik Nizam Mohamed Nadzri, Chief Executive Officer of MDV, witnessed by Encik Imran bin Abdullah, Secretary of Funding Division, Ministry of Science, Technology, and Innovation (MOSTI).
The MoU will see IIB and MDV come together to introduce and promote MDV’s specialised financing solutions to IIB’s ecosystem partners that are looking to scale up. By improving access to funding and fostering strategic partnerships, both organisations also hope to attract and retain tech-talent and boost economic development.
“We are pleased to partner MDV in this significant collaboration, which aims to provide improved access to funding for technology companies and startups in Medini and Johor. By leveraging on MDV’s expertise and specialised financing solutions, we are confident that we can foster a vibrant innovation ecosystem and support the growth of start-ups in Johor, particularly in Medini. This partnership exemplifies our commitment to driving economic development and enhancing Medini’s position as Johor’s digital and innovation hub,” said
Commenting on the MoU, Nizam said, “MDV’s experience in funding technology companies and projects as well as key public and private sector technology infrastructure for more than two decades since our inception has given us the insight and ability to better understand the unique funding requirements of technology companies and start-ups. Through our flexible financing programmes and strategic partnerships within the IIB ecosystem network, we aim to fuel innovation and entrepreneurship in the region. We believe that Johor is a key growth driver for the technology sector in Malaysia and we are pleased to partner with IIB for this venture.”
After the MoU today, a panel sharing session on the topic “From Startup to Scaleup” was also featured as one of the key highlights and takeaway from the event. Also held was the MDV Funding Clinic, an engagement session between MDV and technopreneurs to understand their business requirements and introduce MDV’s available financing facilities primarily for energy efficiency, automation and smart engineering.