MSC MALAYSIA INNOTECH : IDEAS LAUNCHPAD 2008 THIRD SERIES PAVES MORE OPPORTUNITIES FOR LOCAL TECHNOPRENEURS

27 local technopreneurs pitches to local and international venture capitalists

Kuala Lumpur, 17 November 2008: For local technopreneurs who are on the lookout for opportunities to pitch their ideas and possibly turn them into a viable business, MSC Malaysia are ready to assist them. At the third series of the bi-annual MSC Malaysia InnoTech, 27 local technopreneurs were given the opportunity to personally pitch their ideas to both local and international venture capitalists and angel funders.

The event was attended by Y.Bhg Dato' Abdul Hanan Alang Endut, Deputy Secretary General of the Ministry of Science, Technology and Innovation (MOSTI) who represented the Deputy Minister of Science, Technology and Innovation (MOSTI). Also present at the event was Yang Berbahagia Tan Sri Abdul Halim Ali, Chairman of MDeC and Yang Berbahagia Dato� Mohd Hashim Bin Abdullah, the Deputy Secretary General from the Ministry of Entrepreneur and Corporative Development. About 300 aspiring technopreneurs were also present to eagerly listen to the presentation and key addresses given on this first day of MSC Malaysia InnoTech: Ideas Launchpad.

Getting a brief on the Zeros-To-Heros, World’s 1st Board game on Entrepreneurship:
Y Bhg Dato’ Mohd Hashim AbdullahDeputy Secretary General, Ministry of Entrepreneur & Corporative Development. Y Bhg Tan Sri Abdul Halim AliChairman of Multimedia Development Corporation. Mr Roslan Bakri ZakariaHead, Technopreneur Development MDeC

"We hope that MSC Malaysia InnoTech can provide a platform where technopreneurs, MSC Malaysia status companies, local and global VCs and professionals can connect to increase partnerships, collaborations, creativity, innovation and knowledge sharing." said Yang Berhormat Tuan Haji Fadillah Bin Yusof, Deputy Minister of Science, Technology And Innovation.

He added on, "At the same time, we also want emerging Malaysian technopreneurs and high-growth MSC Malaysia-status companies to use this platform we have provided to pitch their ideas to local and global venture capitalist present here today in order to gain input on areas for improvement and at the same time, increase mindshare of local companies amongst global VC."

By bringing in international and local venture capitalists, MDeC and the government hope to provide an opportunity for companies including established MSC Malaysia-status companies to pitch their idea in order to expand their business. The pitches are based on the products and services the technopreneurs has to offer.

"We are working very closely with MOSTI to ensure that we are providing as much assistance to budding technopreneurs. Each idea is ICT integrated and could well be the next big thing in Malaysia and or even globally," said Yang Berbahagia Tan Sri Abdul Halim Ali, Chairman of MDeC.

MSC Malaysia also has the MSC Malaysia Pre-Seed Fund, which assists technopreneurs at an idea stage. There is no specific sector or industry under its requirements as long as ICT is part of their idea. To date, 16 out of 160 technopreneurs have applied for the Pre-Seed funding, which also provides them a platform to speak and pitch their idea to the venture capitalists and angel funders at this event.

The 27 local technopreneurs are scheduled to pitch their ideas to 14 local and international venture capitalists and angel funders, each catering to different high-tech disiplines. Key venture capitalists present included Mr Pamir Gelenbe of Newtonmore Advisors, London; Encik Ahmed Abdul Khalid of IDB Malaysia; Mr John Fernandes of Microsoft Asia; Mr Jason Costa of Google China and Ms Chok Kwee Bee of Teak Capital Malaysia.

After the successful 2nd InnoTech held in May 2008, MDeC organized 52 follow-up meetings. These venture capitalists are in the process of securing deals with five local companies and if all five are successful in obtaining the funds, the total investment from the venture capitalists could well are in the region of USD5.3 million (** RM18million)

** Exchange rate � RM3.40 = USD1

The fourth series of InnoTech is expected to take place in May 2009. For technopreneurs interested in applying for the MSC Malaysia Pre-Seed Fund, more information can be obtained from http://www.technopreneurdevelopment.net.my/