23 January 2018
GOVT TO ENGAGE WITH START-UPS ON IP FINANCING
Tan Sri Dr Mohd Irwan Serigar Abdullah
KUALA LUMPUR -- The government aims to engage with start-up companies, universities and research organisations to promote the Intellectual Property Guarantee Scheme (IPGS).
Treasury Secretary-General Tan Sri Dr Mohd Irwan Serigar Abdullah said the IPGS was aimed at addressing financing difficulties faced by start-up companies, universities and research organisations in developing intellectual properties.
"By introducing this guarantee scheme for intellectual properties, there will be more cash for them to borrow. That is why we (the government) are giving an 80 per cent guarantee for this and we hope the banks will be open to this financing scheme.
"We need to do a lot of promotion, and we are engaging with the banks to promote this product," he told reporters after the launch of the Government Guarantee Schemes by Syarikat Jaminan Pembiayaan Perniagaan Bhd, here today.
Under the 2018 Budget, more than RM9 billion was allocated for small and medium enterprises under SJPP, including RM1.5 billion for the IPGS and RM1 billion for the Automations Process Guarantee Scheme.