Getting Funded
Sometime in 2007, me and Mike were in collaboration on a web 2.0-ish media for social entrepreneurs. As both of us had existing businesses, it was a little project that we worked at on the sides.
A few months later, we stumbled upon the MDeC Pre-Seed Fund Programme which offered conditional funding of up to RM 150,000 for tech-based business ideas. The deadline was only a few days away, and while Mike thought we could wait until the next batch, I decided that we would just submit our application and “see what happens”.
It was a challenge that I was interested in, as the funding was geared towards IT-based businesses – while our plan revolved around social and community elements which rode on technology as an enabling platform rather than an end by itself.
The application process was a revealing one – as we had to be clear on the business model, barriers to entry, market opportunities, etc. We spent days on the research, writing up cost estimations, working out the minutest details and filling in the business plans.
Our application got us through, where we had to present to a board of industry professionals who will eventually make recommendations to MDeC on whether the idea was worth funding (or not).
We were hit, of course, with a number of challenging and thought-provoking questions. At this stage, I cannot emphasize enough just how important it is to make sure that your plan is solid enough.
We managed to get through to the final round where we had to present to the MDeC panellists themselves. We received the good news on the very same evening.
In all, it was a really good experience that shored up our knowledge of our own business idea. Meeting other technopreneurs in the programme also reflected on me a generation full of ideas, who knew what they wanted and weren’t afraid to go after it.
This funding will go a long way towards helping us realize our ideas – and I’d strongly recommend any budding entrepreneurs to look into these grants. For Malaysian entrepreneurs, there are a few that I know of:
- MDeC Pre-Seed Fund
- Cradle Investment Programme
- Global Knowledge Partnership (for social entrepreneurs)
I was reading an article recently on Ms Chong Sheau Ching, a Malaysian social entrepreneur who founded e-Homemakers, a web based platform for home bound women to market their own products and services.


