By enhancing access to funding and fostering a thriving innovation ecosystem in the area, Iskandar Investment Berhad (IIB) and Malaysia Debt Ventures Berhad (MDV) signed a Memorandum of Understanding (MoU) with the goal of promoting the growth and development of technology companies and startups in Medini and Johor.
Nizam Mohamed Nadzri, CEO of MDV, and Dato’ Idzham Mohd Hashim, President and Chief Executive Officer of IIB, signed the MoU in the presence of Imran bin Abdullah, Secretary of the Funding Division, Ministry of Science, Technology, and Innovation (MOSTI).
In accordance with the MoU, IIB and MDV will collaborate to introduce and market MDV’s specialised financing options to IIB ecosystem partners who are seeking to expand. Both organizations also want to attract and retain tech talent and advance economic growth by enhancing access to finance and creating strategic relationships.
“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 Dato’ Idzham.
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.”
One of the major highlights and takeaways from the event was a panel sharing session on the subject of “From Startup to Scaleup” that followed the signing of the MoU. The MDV Funding Clinic, a meeting between technopreneurs and MDV to learn about their business needs and introduce MDV’s financing options, was also held. These financing options are mostly for energy efficiency, automation, and smart engineering.