The Science, Technology and Innovation Ministry (MOSTI) is working with the Finance Ministry (MOF) to come up with an intervention package for start-ups to help them cope with the COVID-19 impact.
Minister Khairy Jamaluddin said a study by the ministry found 40 per cent of the start-ups in Malaysia will run out of cash in the next two months.
“We are in ongoing discussions with the MOF to see whether something can be announced for the tech sector, especially the start-ups, immediately.
“I will also announce something next week,” he said during a discussion with the EU-Malaysia Chamber of Commerce and Industry here today.
The ministry, he said, is holding consultations with the technology companies and start-ups to listen to their concerns.
“Under my ministry, we also have a funding ecosystem for start-ups and those funding agencies Cradle Fund Sdn Bhd, Malaysia Venture Capital Management Bhd (MAVCAP) and also Malaysian Debt Ventures Bhd.
“We are working hand-in-hand trying to see how we as one can help the tech companies stay afloat,” he said, adding MOSTI will continue engaging with European Union companies to help the tech sector cope with the COVID-19 impact.
-- BERNAMA
Bernama
Fri Apr 24 2020
Khairy said a study by the ministry found 40 per cent of the start-ups in Malaysia will run out of cash in the next two months.
COP29 climate summit draft proposes rich countries pay $250 billion per year
The draft finance deal criticised by both developed and developing nations.
Bomb squad sent to London's Gatwick Airport after terminal evacuation
This was following the discovery of a suspected prohibited item in luggage.
Kelantan urges caution amidst northeast monsoon rains
Kelantan has reminded the public in the state to refrain from outdoor activities with the arrival of the Northeast Monsoon season.
Former New Zealand PM Jacinda Ardern receives UN leadership award
Former New Zealand prime minister Jacinda Ardern was given a global leadership award by the United Nations Foundation.
ICC'S arrest warrants for Netanyahu, Gallant an apt decision - PM
The decision of the ICC to issue arrest warrants against Benjamin Netanyahu and Yoav Gallant is apt, said Datuk Seri Anwar Ibrahim.
KTMB provides two additional ETS trains for Christmas, school holidays
KTMB will provide two additional ETS trains for the KL Sentral-Padang Besar route and return trips in conjunction with the holidays.
BNM'S international reserves rise to USD118 bil as at Nov 15, 2024
Malaysia's international reserves rose to US$118.0 billion as at Nov 15, 2024, up from US$117.6 billion on Oct 30, 2024.
Findings by dark energy researchers back Einstein's conception of gravity
The findings announced are part of a years-long study of the history of the cosmos focusing upon dark energy.
NRES responds to Rimbawatch press release on COP29
The Ministry of Natural Resources and Environmental Sustainability (NRES) wishes to offer the following clarifications to the issues raised.
Online Safety Bill and Anti-Cyberbullying Laws must carefully balance rights and protections
The Online Safety Advocacy Group (OSAG) stands united with people in Malaysia in the fight against serious online harms.
Malaysia's inflation at 1.9 pct in Oct 2024 - DOSM
Malaysia's inflation rate for October 2024 has increased to 1.9 per cent, up from 1.8 per cent in September this year.
Saudi Arabia showcases Vision 2030 goals at Airshow China 2024
For the first time, Saudi Arabia is participating in the China International Aviation & Aerospace Exhibition held recently in Zhuhai.
King Charles' coronation cost GBP 71mil, govt accounts show
The coronation of Britain's King Charles cost taxpayers GBP72 million (US$90 million), official accounts have revealed.
Couple and associate charged with trafficking 51.9 kg of meth
A married couple and a man were charged in the Magistrate's Court here today with trafficking 51.974 kilogrammes of Methamphetamine.
PDRM to consult AGC in completing Teoh Beng Hock investigation
The police may seek new testimony from existing witnesses for additional insights into the investigation of Teoh Beng Hock's death.
Thai court rejects petition over ex-PM Thaksin's political influence
Thailand's Constitutional Court rejects a petition seeking to stop Thaksin Shinawatra from interfering in the running the Pheu Thai party.
Abidin takes oath of office as Sungai Bakap assemblyman
The State Assemblyman for Sungai Bakap, Abidin Ismail, was sworn in today at the State Assembly building, Lebuh Light.
UPNM cadet officer charged with injuring junior, stomping on him with spike boots
A cadet officer at UPNM pleaded not guilty to a charge of injuring his junior by stomping on the victim's stomach with spike boots.
How Indian billionaire Gautam Adani's alleged bribery scheme took off and unraveled
The indictment was unsealed on Nov. 20, prompting a $27 billion plunge in Adani Group companies' market value.
Elon Musk blasts Australia's planned ban on social media for children
Several countries have already vowed to curb social media use by children through legislation, but Australia's policy could become one of the most stringent.