Sources Of Funds For Aspiring Technopreneurs
New Straits Times, Computimes Section (November 20, 2003)
Aspiring technopreneurs sometimes come up with brilliant ideas that could rake in profits if their solutions are marketed well enough. However, many of them are unable to turn their ideas into reality due to limited finances.
Borrowing as much as possible from friends and family members, these aspiring technopreneurs will first develop their ideas into workable solutions. However, this is as far as many of them can go with the funds they have.
More funds are needed to take the product development further and then to the marketing stage. Where then, can these technopreneurs turn to for financial aid?
The venture capital (VC) industry, a source of funding for activities based on knowledge and technology, is one of the main avenues for technopreneurs to seek assistance.
However, getting the money is not a task as simple as presenting the idea and the business plan at a meeting with VCs.
Aspiring technopreneurs will have to write a business plan that is workable, one that looks at almost every facet of managing a business, from developing the solution to marketing it, and even outlining plans on how to make profit.
Malaysian Venture Capital Association (MVCA) currently has 40 members with sources of funding for technopreneurs to tap on.
‘If a technopreneur is turned down by one, he or she may try again later with the same VC or even seek out another. Technopreneurs should find out why they were turned down, realize where their weaknesses lie, and improve their business plans before knocking on another VC’s door,’ said MVCA’s chairman, Chok Kwee Bee.
Listed below are some of MVCA members where technopreneurs can seek funds from:
Amanah Venture Sdn Bhd
BI Walden Management Sdn Bhd
Commerce Asset Venture Sdn Bhd
Malaysian Industrial Development Finance BerhadMalaysian Venture Capital Management Berhad/ Mavcap
Mayban Ventures Sdn Bhd
MSC Venture Corporation Sdn BhdMTDC Private Equity Management Sdn Bhd
Perbadanan Usahawan Nasional Bhd
Commerce International Merchant Bankers Bhd
3Capital.com Sdn Bhd
Article contributed by Prasanna Raman
Getting A Business Loan
Small Loans For Businesses
Managing The Myths And Misconceptions Of Venture Capitalists