SME Corporation Malaysia (SME Corp) has allocated RM9 million for the Bumiputera Entrepreneurs Youth (TUBE 3.0) programme this year, said its deputy CEO, Rizal Nainy.

He said since it was introduced in 2014, a total of 943 Bumiputera youths nationwide have participated in the programme.

"Some 99.2 percent or 936 of them have succeeded in starting businesses with total sales generated from January 2015 to September 2016 hitting RM23.5 million.

"After becoming entrepreneurs, the TUBE participants have provided 1,513 job opportunities in various fields throughout the country.

"This is a positive development to the small and medium enterprises in Malaysia and I am confident the 500 TUBE participants this year will achieve more success with the assistance of SME Corp, as well as, other government agencies," he said.

Rizal said this during his speech at the launch of TUBE 3.0 at the National Service Training Programme Camp at Padang Kacong here today.

Also present was Terengganu SME Corp director, Muhammad Ibrahim.

The TUBE 3.0 participants at the three-week camp will be exposed to knowledge on entrepreneurship, finance, marketing, and effective business strategies to prepare them for the real business world.

Meanwhile, Muhammad said some RM750,000 was allocated for TUBE 3.0 participants from Terengganu who succeeded in completing the camp with a financing grant of RM15,000 each.

"TUBE has succeeded in producing many youth entrepreneurs in Terengganu, who have achieved sales of RM5.6 million over its almost two-year implementation.

"The first batch, TUBE 1.0, involving 114 participants recorded total sales of RM5.2 million over one year of doing business, while TUBE 2.0 involving 50 participants registered sales of RM400,000 in the second quarter of 2016.

"Besides increasing sales trend shown in the second year of implementation, it also opens up new job opportunities in the state whereby 430 jobs have been created by TUBE participants in Terengganu," he said. -- Bernama