MyCreative Ventures Approves RM34million Financing to 19 successful Creative Companies

 MyCreative Ventures Approves RM34million Financing to 19 successful Creative Companies 

 

KUALA LUMPUR: MyCreative Ventures Sdn Bhd has announced 19 creative companies that were awarded RM34mil worth of financing. The awards were presented recently to those companies by deputy finance minister Datuk Amiruddin Hamzah at the Ministry of Finance headquarters in Putrajaya.

The approved financing is in line with the objective of MyCreative’s establishment that is to spur Malaysia’s creative industry via strategic and innovative funding. 

Industries that are covered under these financing opportunities include fashion, design, visual arts, performing arts, music, literature, creative content, traditional and cultural arts, culinary arts and creative education.

MyCreative Ventures Sdn Bhd, set up in 2012, is owned by Minister of Finance Inc.

“Many Malaysian creative businesses are still at a preliminary stage and timelines to allow better profit margins need to be given”, according to  MyCreative chief executive officer Riza Saian.

“There is no doubt there is an abundance of talent within the nation but the level of business acumen requires further enhancement and detail” he added.

Eligible businesses need to present outlook that is viable from an economic point of view while background checks of applicants are conducted according to MyCreative’s stringent requirements including information on target market and other value propositions as well as a five-year financial projection.

MyCreative has since grown in the past six years, further enhancing its role in supporting the creative ecosystem to include subsidiaries RIUH which provides a curated creative platform connecting the creative community with the public at large as well as CENDANA which is tasked to develop the art and culture sector within the creative community and reorganise policies to further elevate the significance of the creative industry in Malaysia.

Apart from the funding applications through its official website www.mycreative.com.my,

Read more at https://www.thestar.com.my/business/business-news/2018/08/24/financing-approved-for-nineteen-creative-companies/#6ITdArEAbw8i264e.99

Source: Star online